If you are thinking of buying one of the numerous cheap Forex trading robots which are sold online and think you will make a huge regular income with no draw down – you won’t and will lose money. So let’s look at why traders buy these automated trading systems and why they all lose.
The traders who buy these automatic trading systems tend to be new traders who are niave or greedy. They think they can get a huge income for spending a hundred dollars or so and making no effort. These traders don’t consider the fact that over 90% of traders lose money and if making money was as easy as the Forex robot sellers say, a lot more traders would win.
The track records presented would make even the great traders on multi million dollar salaries look average yet, you can do better than them for the cost of a good meal out for two – it doesn’t add up and of course the robots have never made the money they claim.
They claim great gains and then never present an audited or verified track record! There is no audit or track record on headed broker statements, You get vendors claiming real or live results but where’s the proof?
If you want to make money trading currencies, you should avoid these systems and do what all successful traders do which is get an education.
Currency trading is a learned skill and anyone can learn to trade in a few weeks but for the few weeks effort you have to make the reward for your effort is a great second income in around 30 minutes a day.