It sounds a great solution - get a robot for a few hundred dollars plug it in and go and play golf or anything else you fancy while the robot makes money on your behalf. Does anyone really believe they work? Yes, and it’s a huge business - but the vast majority will give you a wipe out of equity for one major reason…
Look for the statement below to accompany most forex robot track records and you will see why most are odds on to destroy your account equity quickly - here you go read carefully!
“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”.
Well draw your own conclusions which tell you the track record is really on paper knowing all the facts and you can see why none lose on paper and most lose in practice.
It’s pretty obvious also that if they were as good as the vendor claimed they would:
1. Not be so cheap - a few hundred to make tens of thousands! Nice if it were true - but you get no free lunch in forex trading.
2. If the vendor was so confident in the system, he would either trade it himself and not sell it( as he would be to busy making money), or produce a track record to support the hype.
If you went for swimming lessons and the person teaching you said they couldn’t swim you would be think they were made asking you to teach them yet that’s what most forex software sellers do.
Trust your money on my software so what it hasn’t been traded I have done a computer simulation!
Exactly - its total common sense not to trade them.
You can’t spend paper money and that is a fact - you can only spend real crisp dollar notes - so if you want a robot forget the ones with the paper track records and get one with a real track record, over 2 - 3 years to show that the logic is soundly based and has coped with varying market conditions.
Forex trading is NOT easy and with the big gains you can make you wouldn’t expect it to be and you need to steer clear of these systems, which will blow up your equity and if you see the simulated track record move on and find a real one.
By: kelly Price
FREE FOREX STARTER PACK 5 X PDFS - DAILY RESEARCH AND MUCH MORE! For free infopack and free research and more get your 5 x FREE Forex PDFS visit our website at: www.learncurrencytradingonline.com
Posted in Articles
