Forex Robots – What the Sales Copy Doesn’t Tell You!
Forex robots are popular and the sales copy is very enticing but there is a key point that gets brushed under the carpet and it’s a point you need to know. If you don’t check for this key point you are going to lose your money…
The key point is the track record. Do you think the forex robots have really made the riches they claim?
Well there is an easy way to find out and it’s simply looking in the small print, for this statement, you have to look hard for it sometimes though but you will find it:
“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”.
Well that makes things clearer!
Its not gains in monetary terms (that’s money made in the market) it’s simply play money, in a back tested exercise!
Most of the forex trading systems you will see will carry the warning and you should heed it and steer clear.
You will of course hear lots of people saying they have made money with it and promoting the fact online however, if you look at the link it’s normally an affiliate and if they were really making that much money why not trade the system full time?
Of course when you see a track record that simply goes up in a straight line to the stars with hardly a loss in site beating the top money mangers in the world and yours for the price of a night out, you know it’s not true.
Now you know why the whole population has not packed in the 9 – 5 to trade full time or investment companies have nt suddenly cleared there dealing rooms as bits of software take care of everything.
How to Make Money In Forex
So if you want to make money in the forex market get a robot with a track record of gains in real time or even better build your own.
Get the right forex education and you can do this easily and the effort you make will be well rewarded. You can put together a simple forex trading system in about a week or two and be trading for gains in under 30 minutes a day.
In life just as in forex trading no one is going to lead you to a pot of gold and make your life a breeze, so do it yourself take responsibility and get on the road to success and forget forex robots – there gains are fantasy not reality.
Samuel Leslie Berkovits