Currency Trading Systems Will Wipe Your Equity Out

By: Monica Hendrix

When I look at currency trading systems online I see a huge number that claim to make me more money than money manager friends of mine who are on 7 figure salaries yet all I have to pay is a few hundred bucks! Most however lose here's why.

The reason is they have never been traded. The vast majority of them carry this disclaimer read it and you wills see why:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

See a track record that's to good to be true and you will invariably see the above.

It proves nothing just that someone can make money knowing the closing prices and we can all do that and be multi millionaires but that's not the reality of forex trading.

Most of these systems rely on catchy names and great copy to sell them and it's no real surprise they lose as there is nothing in the way of real profits backing them up.

If most of the currency trading systems you saw worked as well as the track record, no one would work and everyone would be traders. Just sit back and let the system do its work - if only forex trading were that easy!

Are there any good ones for sale?

Absolutely - but don't expect to pay less than a few thousand dollars - you get what you pay for and beware all systems have drawdown.

Most forex traders who have made money did it on their own and have devised their own forex trading strategy and you should to. Anyone can learn forex trading and you can to. The rewards for your effort are immense but like all things in life you are in charge of your financial destiny. So, dont be fooled forex trading is not the walk in park that many currency trading system vendors would have you believe.

Trading
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