Wednesday, June 10, 2009
Automated Forex Software - Are the Fantasy Losses the Reality?
Many traders think they can buy an automated Forex software package and make huge gains with no effort and best of all it costs no more than a good night out for this income but is it true? Of course not and the reason why these systems don't work is enclosed.
If you look at the track records they all claim over 100% per annum in gains and drawdown well its so minor you don't need to worry about it. If you believe the copy you buy a system and sit back do nothing and compounding at 100% per annum. (This is a low gain in comparison to what most robots claim) so let's do our illustration on a modest gain - the result?
After 10 years you're a millionaire! This never happens of course so why don't these systems live up to the hype?
Well if you can find one with an audited, track record of real gains, over two years or more, you could buy it with confidence but that's not what you get in terms of track records from these robots, you just simulations going backwards knowing all the highs and lows or some figures direct from the vendor selling the system, with no independent verification.
Common sense tells you that if these systems did really make money, the vendor would charge millions for it or they would simply be to busy making money to sell it.
If you look online you will see lots of people giving opinions and telling you how much money their making with these systems which begs the question:
Why don't they just trade and become millionaires and not have to have affiliate links giving them a few dollars rebate commission?
If you understand this article you already know the answer.
How to win at Forex Trading
95% of Forex traders lose money and you don't get rich with no effort, if you want to win, you need a good Forex education so you can learn skills and gain confidence in what your doing. If you do this, you can make a lot of money but if you think Forex success requires no effort at all - will see you lose.
Article Source: http://EzineArticles.com/?expert=Michelle_Hendrix