Myhts about the forex-bot!

Forex robot trading is not the easy route to huge profits that most traders believe. If you want to win with an automated trading system make sure you don't believe the 3 common myths enclosed...

Here are your 3 common myths

1. Forex Robots Offer Huge Gains and Low Risk

Does anyone seriously believe you can double your money each month with little or no risk and make money while you sleep? This is the advertising copy and it's laughable. No robot does this and the user gets handed a lesson by the market.

2. Complex Mathematical Algorithms that Predict Price Changes in Advance

I see many robots which claim 90% accuracy and they say the complex mathematical equations they use can predict price changes in advance but they don't. Most of the equations are actually crude, not complex and lose. These systems also tend to trade too much and have no concept of money management.

Mathematics to predict the market is a huge myth why?

Because markets don't move to mathematics, they move to probabilities. In an odds based market a complex equation is of no real use, as simple systems always work best as they are more robust than complex ones.

3. You Have no Risk Because you Can trade it in a Demo Account

This is normally part of the advertising copy. Trade it for a month and see how it performs in a demo account and see for yourself.

Well since when was a month long enough to judge a system and its performance? Two years should be the minimum any system trader should consider and by the time you have done that, the guarantee no longer applies.

The Reality of Forex Robot Trading

Never matches the hype and deep down most traders know they wont get rich for a few hundred dollars but they still buy them. In recent years we have had the rise of online trading and account minimums have fallen to just a few hundred dollars.

People want to get in on the action and the Forex robot myths sell a lot of systems but if you believe them you will lose.

Before you trust your financial destiny to mass produced piece of software, think about the above and try a different route; Get yourself a decent Forex education and learn skills, apply them with discipline and you will be on the right route to Forex trading success.