Forex Robots – Essential Facts ALL Buyers Need to Know

Forex robots are the choice of most novice traders and here, we will look at some facts that you need to know before buying one…

Forex robots are a great way to lose money, so let’s look at the claims the vendors make and the facts about robot trading which means you should avoid them.

“You can Double your money Each month”

If you could double your money each year, you would be up there with the best traders in the world, no robot makes gains like the above except in paper back tests.

“You Can trade with 90% accuracy”

The robots claim you can predict the future with their algorithms but of course no one knows the future and prices cannot be predicted. Markets don’t move to mathematical certainties, they move to probabilities so you can forget trying to predict them.

You can trade with less than 1% drawdown

If you are trading Forex and aiming for triple digit gains, this is impossible. It’s an investment fact with reward goes risk and double figure drawdown is inevitable.

“You Don’t need to know what you’re doing to trade with a Robot”

Now this statement is true! You don’t you follow the signals but what’s the point of following something that loses? Go to the casino if you don’t mind losing, at least you will have more fun.

“The Cost is just a few hundred dollars”

You get the hype about how cheap they are and they are so cheap because they don’t make any money. If they really did make the gains they claim, they would be worth hundreds of millions of dollars.

So it’s no surprise to learn that the easy money the vendors of these systems claim you can make is not the reality for the users of these systems. All the heavily hyped robots make no money and never will.

If you want to make money at Forex trading, get a decent education and learn skills and you will be well rewarded for your efforts and enjoy currency trading success.