Automated Forex Robots - Tips to Get on the Road to Big Profits With the Best Forex Robots
The idea of an automated Forex robot is to simply learn its logic, agree with it and then follow it and make money.
The concept is obviously appealing but the reality is most robots lose.
Let's look at how to find a winner...
The automated Forex robots you see heavily advertised online for a couple of hundred dollars don't work.
The gains to drawdown presented, are simply not true.
Avoid any robot that claims the following: - You can double your money each month - You can trade with little or no drawdown - They can make you a regular monthly income.
Forex trading systems can and do make money and we will look at a good one in a moment but the above is not the reality of Forex trading.
You can't double your money each month, trade with little drawdown and make an income regularly.
The world's top traders don't even do that! These systems never have an independent track record of gains and are mostly back tested simulations, done in hindsight, knowing the closing prices and this of course is is easy.
Trading without knowing the closing prices however is the reality of Forex trading and that's much harder! So can you make money with a Forex trading system? Yes you can but you need to seek out systems with real track records and you can actually get free ones that work well.
We are huge fans of the 4 Week Rule and have written on it frequently, so look up our other articles.
Its simple, it works and will continue to work.
When trading an automated Forex robot, don't fall for the hype of easy money, it doesn't exist but you can make long term gains and the best systems will give you this: - 30 - 100% annualized gains ( depending on risk of the system) - 20 - 50% peak drawdown ( depending on risk of the system - Drawdown periods of a few weeks to 2 months As you can see, you will have to accept drawdown short term, to make money long term.
These systems have to be traded through these periods so make sure you are prepared for them and don't look to get rich overnight, Forex system trading is long term.
Find the right robot though and they will give you excellent long term returns, in relation to effort and lead you to currency trading success.
The concept is obviously appealing but the reality is most robots lose.
Let's look at how to find a winner...
The automated Forex robots you see heavily advertised online for a couple of hundred dollars don't work.
The gains to drawdown presented, are simply not true.
Avoid any robot that claims the following: - You can double your money each month - You can trade with little or no drawdown - They can make you a regular monthly income.
Forex trading systems can and do make money and we will look at a good one in a moment but the above is not the reality of Forex trading.
You can't double your money each month, trade with little drawdown and make an income regularly.
The world's top traders don't even do that! These systems never have an independent track record of gains and are mostly back tested simulations, done in hindsight, knowing the closing prices and this of course is is easy.
Trading without knowing the closing prices however is the reality of Forex trading and that's much harder! So can you make money with a Forex trading system? Yes you can but you need to seek out systems with real track records and you can actually get free ones that work well.
We are huge fans of the 4 Week Rule and have written on it frequently, so look up our other articles.
Its simple, it works and will continue to work.
When trading an automated Forex robot, don't fall for the hype of easy money, it doesn't exist but you can make long term gains and the best systems will give you this: - 30 - 100% annualized gains ( depending on risk of the system) - 20 - 50% peak drawdown ( depending on risk of the system - Drawdown periods of a few weeks to 2 months As you can see, you will have to accept drawdown short term, to make money long term.
These systems have to be traded through these periods so make sure you are prepared for them and don't look to get rich overnight, Forex system trading is long term.
Find the right robot though and they will give you excellent long term returns, in relation to effort and lead you to currency trading success.
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