You often hear stories of forex trading robots capable of earning investors nearly 100% per month. Or even better, robots that trade with a 98.52% accuracy. But if all forex trading robots were this good, then why the heck aren't we all millionaires? The answer is quite simple actually. Investors who understand the fundamentals behind forex trading will benefit from these forex trading robots much more than investors who don't understand the forex markets at all. Just because you've downloaded a forex trading robot, doesn't mean that you are going to start seeing profits from day. You still need to know how to use these robots and how their algorithms apply to real live market conditions.
From our personal research, we've gathered that over 90% of forex trading robots have been designed to work well in a specific market condition which typically consist of either a trending, non-trending, volatile or non volatile market. That's it! Now this forex trading strategy works well when a specific currency trades one way against another, but what happens when a random economical or political event occurs that causes a specific currency to swing the other way? A robot can't predict that and by the time another trend is established, it's often too late. The only way to consistently outperform and profit in the forex market is by having a robot that works with deadly accuracy in every single market condition. After all, they are just robots which trade purely on mathematical formulas. At the end of the day robots are just computers! They work with the data that humans feed them with, and they operate on software that humans design. So in order for a forex trading robot to be truly effective in all market conditions, it needs to be programmed to understand reversal patterns and must be able to hedge currencies before a reversal pattern occurs.
This leads us to our second question when trying to figure out if forex trading robots are really capable of quadrupling every dollar you invest. How many of these robots have been designed by people who actually understand that a truly profitable strategy is one that is accurate in every sing market condition? How long do you think institutional traders would be able to keep their job if they only knew how to trade in one market condition? Not long obviously. So, how many forex trading robots do you think are going to perform well if the programmers behind the scenes have no clue how to trade in all market conditions? Believe it or not, this is the number one reason that most investors fail or lose money in the forex markets. It's not the robots fault necessarily as it is the lack of education or trading experience the inventor of the forex trading robot has. Before purchasing your next forex trading robot, you need to make sure that the 'guys behind the scenes':
- Have several years of personal forex trading experience
- That they know how the forex markets behave (visually)
- That they have integrated long term experience into the trading strategy
- That they know and understand how to program the computer to perfect the perfect strategy
- And most importantly, that the algorithms the forex trading robot trades on is able to perform and profit in multi-market conditions.
Without the above points being implemented into the design of any forex trading robot, you are guaranteed to lose money immediately and will most likely give up on the forex markets in your first month of trading.
Finally, the biggest reason most forex trading robots fail is simply due to the lack of education that you, the investor may have. You need to understand the fundamentals behind forex trading before you invest your hard earned cash into the markets. You're probably thinking 'what's the point of purchasing a forex trading robot that is supposed to do all the work for you, if I need to know and understand the ins and outs of forex trading'? If only it were that easy! But then again if it were, you would have made your millions by now. Going back to basics and understanding the fundamental s behind the forex market is going to seriously improve your earning potential from day one. Add a forex trading robot into the mix and you have yourself a winning formula. Now we're not suggesting that you need a master's degree in forex trading as this isn't really necessary, but you do need to understand the basics behind how currencies work for and against each other before downloading your next forex trading robot. The easiest and quickest way to master forex trading 101 is to simply log online and download one of the hundreds of forex trading guides available. This is where we let you in on a little secret… Many of the forex trading guides available online do cost money to download and most of the free ones aren't that good. Save yourself the agony of searching through endless web pages in search of that perfect FX trading guide and go to www.yourforextradingsystem.com to download a copy of their free forex trading guide. Their trading guide happens to be one of our favorites and comes highly recommended by many investors who have downloaded the online guide before beginning their forex trading career. Yourforextradingsystem.com also provides forex trading reviews on forex trading systems that investors have personally used and highly recommend.
The truth about forex trading robots is that if they are 100% legal then no, they are not a scam. By legal, we mean that they have been approved for use by regulators governing the relevant forex market they trade in. It's not fair to call them a scam if you, the investor lost money in the forex market because you didn't understand how to apply the trading robot to real live situations. So before downloading your next forex trading robot, make sure the robot has been designed to perform in ALL market conditions, that the 'guys behind the scene' actually have experience trading in the forex market themselves, and most importantly, make sure that you have a basic understanding of the forex markets. If the answer is already yes to these three very important questions, then there is no reason that you too, can't benefit from the substantial profits these forex trading robots are helping thousands of investors to enjoy.
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