Do Forex Robots Really Work?

Do Forex Robots Really Work?

Submitted by adil on Fri, 02/01/2013 - 07:02

It is common sense to understand that large numbers of robots tend to fail when it comes to making lots of cash using the same. Novice traders generally get lured by these robots in false hope of making cash. They become dependent on this software and don�t learn how to trade currencies manually. Nevertheless, it also destroys all the equity they made over the period of time.

Every day we hear a lot of stories of individuals achieving success using automated trading programs, so let us now understand if these programs are really worth it and they do exactly as they claim:

Individual traders would easily able to start their trading account using any good website, shell out a few hundred dollars on some automated trading program and make a great deal of cash. Later, they can resign from their job and sit back to enjoy lifetime profits. How does that sound?  It is practically impossible. If it was true, every other guy would be using these robots and become a billionaire by now. However, the whole concept of autopilot profits sounds attractive. All these kinds of robots might make you cash if you have lots to spare and can take a risk. Did you ever realize about how the money is being made from these robots? It is just through their sales. 

The Truth

These automated programs are traded by affiliated marketers who get a commission on every sale they make. All these affiliate marketers probably themselves would not have made even a single trade using the robots they sell. The catch here is that they mint money at other people�s expense.

Robots only perform one thing and that is they work in a good faith just as its developer developed it to do so. They can examine large amount of historic data to figure out the probability at success. These automated programs understand the forex market 24/7; however, a robot fails when it comes to learning on its own. It cannot learn the day-to-day forex moves.

In Conclusion

Personally, if you want to succeed at doing online trading, the best way is to learn its technique and take a chance. Don�t be afraid of losing. Start with lower stakes and read as many educational resources as you can. All the experts these days would recommend the same. Just make sure that you open account at a reputed trading website and do as recommended. IntelliTraders offers this facility to register with reputable brokers and start the endeavor. If you lose, you will be refunded up to $100.