Forex Expert Advisors - are not Experts and Lose Money Quickly Here's Why

It's a grand name Forex Expert Advisor but that's all it is a name. The systems you see heavily promoted offering you riches for a couple of hundred bucks, will simply wipe out your account and do it quickly - Here's why...

If I came up to you and said give $200.00 and in return, I will give you thousands a month for life, you would laugh in my face, as you know it's not true.

Surprisingly, when people buy Forex Expert Advisors they don't stop to think how ridiculous the claims forex robot vendors make really are.

Let's look at some common claims and why they obviously don't work.

1. The Track Records Presented will Repeat for You

No they won't. Most are back tests on historical data (made up in simple terms knowing all the closing prices) or presented by the vendor with no independent audit. If you think there going to make you huge gains, you can trust them but I wouldn't.

2. You can Double your Income Every Month

As Forex is an odds based market that is impossible, you can't no one can it's a ridiculous claim.

3. You can Trade With Less than 1% drawdown

Not even the world's best traders; earning millions a year do that. To make big gains you have to take draw down, that's just a fact of life.
4. You can Make Money with no Effort

If the Forex Expert Advisors really did do this, no one would work and the whole world would be trading. You don't have to make an effort with them but they lose money.

5. Developed by an Expert

Noticed how the advertising copy tells you it's an insider geek or nerd revealing secrets? Well looking at the systems there anything but expert crude algorithms with un sound money management. In fact one person actually took pictures of some of the well known developers and showed them on another site where they were paid actors!

Making Money With No Effort if Only it Were True!

People who buy these systems are just naïve or greedy, as it's obvious they don't work. If you want to win sorry, but its old fashioned education and learning skills, you can apply with confidence however if you make the effort the rewards are huge.

Forget Forex Expert Advisors, simply spend a few weeks getting a good solid education and you could soon be making big profits in around 30 minutes a day.

No venture gives you such huge rewards for your effort so get learning and win!