Do forex trading robots work?
Absolutely...forex trading robot work! Do you believe it?
If everyone is using some kind of automated forex trading systems that make them money when they are sleeping why is not everyone filthy rich?
Why is not everyone vacationing all year round instead tied to 40 hours a week JOB (=Just Over Broke) for 40 years just to retire with mere 40 thousands in retirement account.
Only one person can really answer if automated forex trading systems actually make money. And that person is no other than YOU.
Robots have evolved to become our closest ally along with our own evolution.
We use robots in industries to assemble cars. Robots fabricate semiconductor chips that is used in my cell phone, computer and many other electronic devices.
In cattle farms, robots feed cattle, milk them and even "baby sit" them in absence of the farm owners 24/7.
The bottom line is this: many of the high-tech devices to high-tech industries ranging from cell phone, and computer to cattle farms to modern airplanes depend on robots in one or the other way because they work.
So the obvious question to ask is why can not forex trading robots (aka Expert Advisor EA) make money for me when I am sleeping?
Our drive to implement forex advisors, system trading or trading robots in our forex trading emerges more from our inner desire to become social human beings rather than merely to hoard piles of cash.
Of course, it will be nice to make money in this process of wanting to be social species.
The very dynamic forex market that is opened 24/6 days a week with high end income possible make it plausible field to deploy army of automated forex trading systems, forex trading robots and, forex simulator, that can make money around the clock even when we are sleeping.
In fact, I would be happy to sail across the globe while I let my army of forex advisors make money for me.
If I could achieve this goal through forex robot trading, then every forex trader should be able to duplicate my process. So in the end, everyone implementing forex forecast software should be rich, famous, etc...etc...you got the picture.
But the truth of the matter is - it's just not practical for one fundamental reason - unlike living creatures, forex trading robots lack intellect of its own to guide its own action.
If it did own its own unique intellect then it won't need us. It won't be feeding and milking cow.
That's a really good news in one sense or else our world would have already ended up just as one as portrayed in the movie Terminator.
Automated forex trading systems does one and only one thing - it works in a good faith just as its programmer programmed it to do so.
It can analyze huge amount of historical data to sort out the trend. It will watch the forex market on guard 24/7 for 365 days a year. And best of all it will never ride emotional roller coaster that almost all the beginner forex traders ride on.
However, forex trading robot can not learn on its own the very dynamics of day to day forex market moves. Forex, as you must have noted, is a huge dynamic market with myriads of variable to count on.
Sure we can feed few major variables to forex simulator, and forex forecast software to get an approximate picture of where the forex market was day before and where it is heading next day, next week or next year.
But the biggest challenge of implementing automated forex trading systems lies in knowing if forex trading robot can consistently yield good return as the preacher and creator of many forex advisors and forex forecast software claim.
The answer to this question could be multi-fold: Yes, Maybe, and No.
Yes, forex expert advisors (EAs) can make money while a trader is sailing in Anguilla beach but big BUT here...the trader must be able to navigate forex trading robots through the dynamic forex market conundrum.
Allow me to elaborate on it.
It is probably easier to make an analogy between forex trading, and flying a mammoth Boeing 707...
The hardest part of flying the mammoth Boeing 707 is not actually flying but taxing.
The Boeing seasoned pilots are trained for many hours for many years just to be able to accomplish successful taxing, i.e. landing and take off besides many other intensive training.
Once the Boeing attains desirable height on air, flying the mammoth Boeing 707 is easy because autopilot can navigate it to its final destination with minimal assistance required from pilot.
Similarly, the forex trader must be trained for many hours for many years in order to be able to completely exploit the benefits of forex auto trading.
Or else forex auto trading will hurt more than it can benefit the trader.
Forex traders who blindly purchase automated forex trading systems without proper forex education are on mere hope of getting rich over night. If making money was just as easy as buying couple automated forex trading systems then why would anyone has to go through years of schooling and then through college degree?
And with my five years of forex trading experience I can tell you that if you jump for automated forex trading systems without first getting proper forex education then that's a very tell-tale sign of immediate failure in forex trading.
Just think why would the Boeing 707 pilot needs to go through years of intensive training if she/he is eventually going to run it on autopilot?
If autopilot is going to do all the maigical stuff, I think Boeing can save big bucks just by recruiting someone with a sense to push the red-green button instead of a truly trained pilot, just my personal thoughts.
Maybe forex expert advisors (EAs) will make a trader some money but do not count on it to make the trader filthy rich though.
There are some times, some days, some weeks or even months, EAs will perform miraculously bringing the biggest bang for your buck.
But I have also witnessed there are other times too when forex expert advisors (EAs) will stink.
So be careful on those draw-down periods!
NO, forex advisors will not make money if the trader is completely ignorant about forex market and most of all forex education.
If the trader buys forex advisors solely on great reviews with a purpose to merely hoard piles of cash next day, next week, next month, dodge this bullet -it's not going to happen.
Simply think your brain got fried because of the good copyright in the website.
There is no such forex trading robots that constantly yields high returns year after year without any human inputs.
If it did exist do you think big investment banks like Goldman Sachs, Bank of America or the richest investors like warren Buffet with plenty resources will ever let it out in the market for public access?
And do you think the creators of those automated forex trading systems will ever kill their goose that lays them golden eggs at all the time by selling them at pennies for you?
But what about all the legitimate return on investment (RoI) claims that creators and preachers of forex trading robot make?
Those justifiable claims are all valid provided that the creators or the preachers are all seasoned traders themselves.
All I am saying is it takes years to master forex trading. Forex robot trading does not substitute forex education. Use it as an assistant but not as a substitute for your trading knowledge and experience in any event.
In my personal experience forex advisors can yield good RoI provided -