best forex trading robots reviews

FOREX day trading is big business and there are plenty of FOREX day trading systems tip sheets and guru’s who will promise you they can make you rich.

The problem is odds are you won’t make money and ask anyone selling to you to show you a real time track record chances is are you won’t get one!

FOREX day trading sounds good in theory but doesn’t work in practice. Here’s why.

Currency movements tend to reflect the underlying economic climate and interest rate outlook of the countries currency and they trade long term. Short term movements within a day are random and are the same as flipping a coin.

Even if you think you can day trade FOREX, consider one of the fundamental laws of trading:

Run your profits and cut your loses

Well in day trading, a short trading session is all you have to make money in before you close your position.

You will never be able to run your profits long enough and make enough money to cover your inevitable losses.

When you add transaction costs to losses and subtract them from profits, FOREX day trading will soon empty your account of money and leave you with losses.

It would seem fairly obvious that FOREX day trading on the whole stacks the odds against you, but investors still buy day trading courses and systems through greed and ignorance.

So why is day trading so popular?

Simply people think it restricts risk, but on the flip side it restricts profit as well – and you need to take risk to make a profit – there is no free lunch.

If you can’t run profits enough to cover your losses you will lose pre and simple.

Day traders think they are restricting risk but really they are creating it and stacking the odds firmly against them.

Many people who sell the concept of FOREX day trading are also linked to brokers, who pay commission to them on each transation and there is no better commission earner than someone trading every day.

Fact is, if you want to make money in FOREX Don’t day trade – Do what the pro’s do, catch the bigger profits from the longer term moves.

Have a day trading system on my computer, says its 91% accurate and will cost me just $99.00!

Wonder if I should buy it?

On second thoughts, Let’s give it the benefit of the doubt and ask for the real time track record.

Wonder if I will get one?

Anyone can learn Forex trading but the fact is most traders lose money. If you want to win at Forex trading, this article will give you a simple blueprint for success…

First don’t make the mistake of thinking Forex trading is a walk in the park – 95% of traders lose! Most novices follow Forex robots and sure fire systems but if winning were as easy as that, a lot more people would win.

Before you start to trade accept, your success is up to you and you need to learn skills these should only take you a week or two at most. You only need a simple Forex trading system as simple systems work best and always will.

Leaning to trade Forex is not hard, learning to adopt the mindset for success is.

Most traders simply cannot cope with the unique challenge that Forex trading presents in terms of – executing their system. You have to execute your system with discipline and keep going through periods of losses. Don’t let anyone tell you that you won’t have a string of losses you will but you can win.

Most traders cannot accept that you have to lose to win and keep your losses small.

The market price is always the right price and it’s hard to take sometimes when the market makes you look a fool – but hang in there keep your losses small and you can win long term, as if you trade the odds your profitable trades will come.

If you want to enjoy currency trading success simply keep in mind the following:

You need to have a logical, simple system you have confidence in and this will give you the discipline, to trade your system as it should be traded and achieve long term success.

So if you want to win at Forex – keep it simple and always remember a system needs to be applied with discipline and if you remember this, Forex trading success can be yours.

Forex day trading is very popular but is simply one of the best ways to lose money. If you have been considering a forex day trading system then read on and you may change your mind.

So Why Doesn’t Forex day trading work?

The reason is the data is unreliable and volatility is random and support and resistance within a few days is meaningless.

If you think about the above its obvious why:

Millions of traders trade trillions of dollars and to try and predict what this huge mass of opinion will do in such a short time span is impossible.

But I have seen forex trading systems with great track records of gains…

Sure you have but there not real, there done KNOWING the closing prices!

You never see one audited which has traded real dollars over a long period of time, what you normally get is one of these – here is the CFTC disclaimer:

“CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN”.

So put the above on and you can make up anything you want with past data.

Vendors of course do and rely on the greedy na

Forex day trading and scalping is promoted heavily online and the objective is to -keep losses small and earn a regular income. This is the dream the reality is a swift wipe out of equity for the reason that is enclosed.

Ask yourself this simple question:

There are millions of traders all over the world and there all using different Forex trading strategies, all have different aims, skill levels and are influenced by their emotions, so how do you decide what this mass of people are going to do, in a few hours or minutes?

The answer is of course, you can’t! its rubbish to say you can and the facts simply do not support this view. All volatility in these short time frames is totally random, so you can’t use support and resistance levels, can’t get the odds in your favour and sooner or later, you are going to lose all your money.

Ok you maybe saying but I have seen the track records of Forex day trading systems sold by vendors and they show a profit. Sure they do – but check the disclaimer and risk warning and you will see there not based on real time trading, there simply a back test over historical data.

Making money in a back testing scenario is easy – but you don’t get to know the closing prices when you trade for real and this is the real world.

Vendors who back test systems, can show anything and they do, to sell their systems.

If you really want to make money, forget forex scalping or day trading systems and trade longer time frames where, you can get the odds on your side.

Get the right Forex education and learn to Forex trend follow.

Look at any Forex chart and you will see trends that last for weeks, months or years and you should base your Forex strategy around catching them and turning them into profit.

So forget short term trading and get the odds on your side, by catching the big profits from the big moves and you can enjoy Forex trading success.

Here as part of your forex education are 10 common reasons new traders get wiped out. Make any of these mistakes and you will lose too. so avoid these common mistakes…

1. Buying a Forex Robot With a Simulated Track Record

If you want to win ignore the vast number of forex robots – they cost very little, promise a lot and wipe you out. There gains are all simulated going backwards knowing the data and this does not help going forward!

2. Day Trading and Scalping Systems

Day trading doesn’t work as all volatility is random and you can’t win. If anyone shows you a track record where they have won, it’s normally just a simulation. Don’t fall for the hype of day trading.

This applies to both points 1 and 2, there is no expert who can give you success, as success comes from within and having confidence in what you are doing.

3. Using to Much Leverage

You can get 200 or even 400:1, in terms of leverage but to use all of this is madness on a small account. Use maybe 10 – 20:1 – that is enough for most traders.

Leverage up to much and Volatility will get you.

4. Starting with a small amount

You get traders starting with $50 – 100, this is not really an investment at these levels, it’s a gamble. Look to start with $500 -1000 minimum and preferably $5,000.

5. Believing You can Trade With low Risk

If you believe many people online, you would think you can trade with the odd loss here and there – but you can’t! You will face many consecutive losses and they can last for weeks on end ( this happens to the best traders ) and you need to have the confidence and discipline, to take them until you hit a home run.

6. Predicting Market tops and Bottoms

Try and predict and you are hoping and guessing and your prediction will be as accurate as your horoscope. You can’t predict in advance, so don’t try, trade the reality of price change only.

7. Trading News

Those stories on CNN, CNBC and on all the other news channels are great stories but that’s all they are stories and opinions. They reflect the majority who lose, follow them and you will lose to.

8. Trading to Much

You understandably want to be in on the action but most traders’ trade to much and end up trading all the time – this will wipe you out, so have patience.

9. Trying to be to complicated

While some traders don’t do any preparation and learn the basics and lose another major set think that being complicated and putting in effort means success – it doesn’t. Forex trading is simple and you need to have a simple system and the discipline to apply it and that’s all.

Make a system to complicated and it will break, in the brutal world of trading .

10. Know Your Trading Edge

You need to know what your trading edge is. Specifically, the reason you will win while the vast majority 95% lose and you need to have the confidence to apply it with discipline for success. If you don’t know what your edge is, you don’t have one and you need to continue your forex trading education until you do.

You can win at forex trading but you need to do the basics and get a simple system with an edge you can apply for huge gains. If you do this, then currency trading success can be yours.

Forex robots are big business online but it’s not the trader who makes money, it’s the vendor. It’s a wonder that traders actually believe they will make money with them, as most have a fatal flaw which is enclosed in this article.

It’s a fact that most forex robots claim to make money BUT the track record is almost always on paper.

You will see the disclaimer “in hindsight” and “simulation” all over them.

Now, let’s assume I have tomorrows price today, how rich would I be?

VERY but of course you don’t know the price in advance and that makes trading a little more difficult.

Of course the copy is tempting – but don’t let the clever wording catch you out, look at the track record and see if its real and ask for supporting verification if you want. Forget all the reviews you read online, of people telling you how great the forex robot is. Why?

Because they are normally affiliates and make a commission on the sale, so hardly unbiased.

Let me ask you a question.

I will give you a regular income for life if you give me $100.00 and you have to make no effort. I will do it for you – will you pay me?

Of course you won’t, as you know it’s not true – but that’s exactly what traders do, when they buy forex robots and they learn a lesson, when their equity is destroyed.

As in all areas of life – if you want success you need to work at the basics and you need to take responsibility for your destiny and in forex trading you need to do this too.

There are some good automated forex trading systems around but they cost a lot more than $100 but the ones you see heavily sold and advertised will lose you money.

If you want to make money in forex – get the right forex trading education and forget the sure fire, you can win with no effort systems.

Get real, get the right forex education and you can enjoy currency trading success.

It seems like if I sell then it goes up, if I buy, it seems to go down. Someone clue me in please.

It’s a fact 95% of Forex traders lose money trading and while anyone can learn to trade and make great profits, the novice trader makes a fatal mistake which is enclosed and should be part of any novice traders Forex education…

Forex trading is different in terms of the skills you need to make money in Forex to the skills you need in everyday life. Some explanation will make this clearer.

Let’s look at the fatal mistakes novice traders make.

1. Consulting an Expert Will Bring You Success

Most people who claim to be experts are not. You have seen them, the $100 buck robots and sure fire courses, offering you an income with no effort and guess what? They all fail.

In normal life we are taught to consult an expert, to fix your car or a burst pipe and they can give you a guaranteed result. This is not so in Forex, as your not dealing with certainties and mathematical formulas. In Forex you deal with the odds and your best off to get the right Forex education and do it on your own.

2. Hard Work will Give you a Reward

This is actually good news!

You can learn Forex trading in a few weeks and soon be making big profits but for this you work smart not hard. Avoid the myths, and making huge effort and expecting a result that may work in a 9 – 5 job but not Forex. Simply learn the right way and cut your work load. All you need is a simple system and the mindset to succeed which is covered in the next point.

3. Being Clever is an Advantage

A huge myth you would think the best group of traders had a background in mathematics or something else complex but the most successful group are actually ex poker players! Why?

Because they know that a simple plan, playing the odds is the way to win which leads me onto the next point. Simple systems work best and always have and that a fact, make a system to complicated and it will have too many elements to break.

4. Mindset is More important than Method

Yes it is! – Because you have to apply any method with discipline and even the best Forex trading system, will fail unless you do. Most traders cannot trade through periods of losses and keep them small, all systems have them and you must get through them.

You don’t just get discipline though without effort, it’s based on education and confidence in what you have learned. If you want to win, you need to stay on track through losing periods until you hit a home run.

If you can’t trade your system with discipline you don’t have a system! Trading discipline is the big variable between success and failure.

The Real Way to Make Big Gains and You Can Do It!

Forex trading success is open to all but many try and apply the wrong logic as we have seen and you will lose.

If you want to win all you need to do is get the right Forex education and have the discipline to apply what you have learned. It sounds simple and it is – but most traders simply won’t do it. They don’t get the right education and or they are simply lazy and want to follow others.

If you understand the message of this article, you can win and generate a great second or even life changing income.