Thursday, July 9, 2009

Forex Trading Software - Forex Robots and Expert Advisors, Why You Shouldn't Use Them

The reason you should not trust your money to the Forex trading packages which call themselves Forex robots or Expert Advisors is because they don't make money and the reason is obvious and the subject of this article, Let's see why they lose money.

When I look at any Forex Expert Advisor, I always see a track record which is better than the world's best fund managers, has less drawdown and I can buy this life long income for a hundred dollars or so! Of course it looks to good to be true and it is; if you look closely at the track records, you will notice they all have one thing in common:

They never produce an audited or verified track record from an independent source; all you get are, paper back tests or figures from the vendors themselves.

Why would anyone trust a system which can't produce a verified track record?

Well a lot of naïve and greedy do and they all lose money.

Any sensible person can see that if these Expert Advisors worked, all the dealing teams in banks would be sacked. The top fund managers and dealers, are on multi million salaries and bonuses and a hundred dollar robot would offer a great saving, over these highly paid teams but have any banks sacked their dealing teams? Of course not.

If you want to win at Forex trading understand, you don't make money without making an effort and there is no automatic way to big profits, you have to work for them.

If you want to win at Forex trading get yourself an education, learn skills and you will be well rewarded with a great second or life changing income.

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