Robot Trading Forex Automated
Forex Robot Trading – Why Most Robots Lose Money and How to Find a Winner
Most traders who use a Forex trading Robot lose and this is even with a good profitable automated Forex trading system. So if you want to win at Forex robot trading read this article…
The first key error traders make is choosing the wrong robot and it’s a fact that most lose so what is the wrong robot?
The wrong type of robot is one that makes unrealistic claims and has no independent verification of results and this is the vast majority of them. If you ever see claims like the ones below, don’t even consider the software. Common claims made by losing robots are:
- Double your money each month
- Trade with little or no drawdown
- Predict price movement in advance with 90% accuracy
No Forex trading system can do any of the above and if you look at the robots that make these claims, they normally have a simulated track record ( going backwards knowing the closing prices) or present a real track record themselves, with no independent verification of results. The cost tells you these robots don’t work, as there normally just a couple of hundred dollars.
So for this small sum of money, you get a track record which is better than the worlds top fund managers! Of course if these robots worked they would be worth millions so if you don’t want to lose pass them by.
So are there any good automated Forex trading systems?
Yes and the way to find them is to look for a track record that has been independently verified and audited in real time trading.
The Best Forex Robot Software can return gains of 50 – 100% per annum.
These are great gains and will soon compound up over time but beware losses will typically be between 30 – 50% from peak equity at some point and drawdown periods can last for a few weeks.
So you need to look long term and you need to be prepared to accept short term losses with discipline. Executing an automatic trading system when it losses is hard, so take time to read the logic of the system and you will have the confidence to trade with discipline.
Always remember, if you can’t trade a system with discipline you don’t have a system.
Forex robot software can make you big gains but don’t fall for the hyped systems with no real track records and unrealistic claims; look for real time results and a system you can understand and trade with discipline. If you do this, you could soon be building wealth in around 30 minutes a day and enjoying currency trading success.
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Filed under: Trading Forex
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