Forex Robots Exposed
Buyer Beware: Forex Robots! What is the truth about forex robots? Do they really give profits? Can you become rich by just spending $200? Well in most cases not. Forex robots are automated trading systems that not only generate buy and sell signals but, by interfacing with a trading platform, can execute those trades as well. The buyer simply sits back and, according to the sales hype often accompanied with these robots, lets the robot rack up profits time and time again. Sound appealing?
My research indicates that, while most robots have posted results of around 80-90% winning trades, this is typically based on historical data and the mathematical algorithms of the robot were selected so as to maximize historical trade performance (called curve fitting). And because past performance is no guarantee of future performance, the results going forward of a Forex robot can be very disappointing. By the way, you don’t often see this regulatory disclaimer on the typical robot advertisements.
Every month you will find a new forex robot released to the market. There is no doubt that most of them are just paper traders. When you put them to work on your live account, most will fall flat. However, there are a few forex robots that have infact given consistently results. One of them is FAP Turbo and the other is Ivy Bot.
Will these forex robots make you rick? Forget about that. If you want to become rich trading forex than you need to learn forex trading. There is no cut and paste approach. You will have to learn forex trading from the pros.
Bill Poulos, one of the top Forex mentors in the industry, has taken the analysis one step further. He looked at the trade performance of a typical Forex robot and found two things that contributed to its failure when used in practice. He then went back and adjusted these characteristics based on the rules of the Forex Risk Eraser. The result was an improvement of performance. Bill details this in a free 35-minute video on Forex trading that looks at how to not only manage the risk of Forex trading, but how to erase it completely as soon as possible.
Beware the forex robot. If they could generate the profits their creators claim, it would be illogical to sell them in the first place. There’s no substitute for hard work: invest in your education, learn how to manage risk and then develop a trading plan that works best for you.
Get forex training from Bill. Bill has been trading for the last many decades. His trading methods are unique. He is a great teacher too. He has released a number of courses to the market that have been highly popular with the trading community.
