The automated forex trading system is designed to provide a method of trading that requires no human intervention, other than to set up the software and switch it on. The alleged advantage of this method of trading is that it takes all the emotion out of trading, and we all know that there is really no place for emotion in the trading of any kind of market.
The problem, as I see it, with any automated forex trading system is that in addition to taking all the emotion out of trading, it takes all the skill out of it too. The most successful forex traders have a unique blend of skill and emotional control that allows them to analyze market conditions better than their competition and make profitable trades when their expert analysis tells them to.
You cannot be a successful trader if you don't put the time and effort into learning how the forex market works and into developing a "feel" for the rhythms and moods of the forex market so that you can take control.
It's foolish to think that software programs (also known as forex robots and expert advisors) can duplicate or even improve on the results garnered by master traders who have spent years honing their craft.
The only reason that the automated forex trading system has become so popular is because it is marketed as a get-rich-quick product that will allow you to become financially independent while you sit back and do nothing. And we all know that there is no shortage of people out there looking for just such a solution.
But the sad truth is that none of these automated forex trading systems are profitable! Even though the sellers of these products claim to be able to provide you with results that show that they do work. The results they present are always back-tested results. What they do is back-test their robots over and over, selecting different time frames until they find one that yields the best results, then they publish these results.
Another reason these automated forex trading systems don't and can't work is that the brokers and market makers that you trade against in the forex market recognize the trading patterns of these robots and manage their trades in such a way as to short circuit these programs and slowly drain your account.
It is really sad to see so many forex traders fall by the wayside just because they were too lazy to learn to do the job the right way and truly enhance their financial situation.
Personally, I've tried a few of these robots on demo accounts, where they should actually do better than in a live account, but I have not been able to find one robot that makes money.
For instance, one of the most popular automated forex trading systems is FapTurbo. I purchased it for testing, and have been running it continuously and unattended for the past 2 months in a demo account on the Alpari UK MT4 trading platform. I started the account with $5000 of virtual funds, and it is now down to $4150. Its winning trade ratio is terrible, and it seems to me that it is programmed to lose money slowly but surely.
Since I use that MT4 platform to provide the DDE data feed to my Currency Meter and FX4Caster anyway, I will continue to let it run continuously so I can see just how long it will take for it to lose the rest of the money in the account.
In conclusion, automated forex trading systems don't work. In order to successfully trade the forex market you must be actively engaged in your trading. It's just like any other job in that respect. I'm sure you wouldn't go too far in your real job if you didn't show up everyday, but still expected things to get done automatically with no effort from you.
Stop wasting your time looking for get-rich-quick schemes like trading robots and expert advisors, and start investing your time wisely in learning to trade the forex market the way the pros do. Once you've invested the time, and obtained the right strategy and tools for your style of trading, you can then start investing your money and watching it grow as you take control of your own destiny.
The Trend Zone - Forex Trading System provides you with a simple and effective way to make profitable, managed forex trades day after day.
Please visit http://www.forex-trend-trading.com for more information. Find out how you can get a unique forex trading tool, a real-time currency strength meter, for free.
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