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Forex Expert Advisors or Forex Robots, all have the same aim - to make you money with no effort and it's an appealing concept but which work and how do you find a good one? Lets find out...
Forex Expert Advisors are sold cheaply and you can get one for $200 or less and they promise to make you a big regular income (many say they will double your account monthly) and this sounds to good to be true and it is!
Forex Expert Advisors are anything but expert, when it comes to Forex trading and all the cheap ones you see fail, here's why.
Track records
You will never find one that's been independently verified. They either come from the vendor themselves, or there simply a back test simulation, knowing the closing prices but a child could do that! Trading forward is a lot harder!
Sophisticated Mathematical Algorithms to Predict the Future
This theory is really amusing but not true at all. First Forex markets are an odds based market and don't move to some mathematical formula and secondly, you cant predict the future, if you could and there was such a theory, we would all know the price in advance and there would be no market. The algorithms are as accurate as your horoscope but at least your horoscope is free and fun.
The Developer is an Expert
He's always an ex banker, nerd or mathematics genius but is he real?
Someone on the net took a few of the faces on the popular expert advisor sites and then published another site where they could be seen, where they appeared as actors for hire! These Forex Expert Systems are simply made up by guys who are expert at marketing but they have no Forex Trading skills and that's why these systems get wiped.
Fancy Packaging, great names and no success
Sounds harsh? Well maybe - but anyone who is naïve enough to think they are going to get rich, for handing over the cost of a night out is mistaken. If these systems really did work, the robot sellers would be to busy trading there accounts to billions ( if you double your money every month you will surprised at how quickly you would get there!) and wouldn't hassle you for a small amount.
The Way to Win
You can get forex trading systems that win but there not the heavily promoted ones with over the top copy and they cost in most instances thousands of dollars.
The best way to learn Forex is to go the old fashioned route, learn skills and get confidence in what you are doing.
If you spend a few weeks getting the right Forex education, you will soon be all set to earn big profits in just 30 minutes a day and leave the Forex Expert Advisors and robots to the majority of losers.
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