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

Honest LMT Forex Formula Review

I have had the privilege of trading with the program for a month before it was released to the public. Having a month of experience prior to its release has given me a great look at the product and a great foundation for reviewing.

L.M.T. stands for Low Maintenance Trading which is an appropriate name for this program. While it is a program that analyses and spots potentially profitable trades, it isn't a robot. When there is a possible trade a signal is given. When trading on the daily chart it only takes 10 minutes to check for trades and open or close any trades as appropriate. You have to do a little analysis, but it is all laid out for you in the 47 page manual. Simply look at the 4 checks to determine if a potential trade set up is one that you should take. I really like this aspect because it puts me in charge of my trading. I can decide how good the signal for the trade is and whether or not I want to enter the trade.

The goal of L.M.T. Forex Formula is to identify trades that have the potential of producing large wins consisting of hundreds of pips. This is definitely not a scalping program. It is nice to have a trading program that looks for large wins and not a program that is simply scalping the markets.

And another great aspect of L.M.T. Forex Formula is that it can be used with any pair. I have been testing it on 10 pairs with good success. In 3 weeks of trading I have had 5 trades that have been executed and closed. Of those trades 3 were wins, 1 loss, and 1 break even. The result from these 5 trades is that the account is up 413 pips.

The L.M.T. Forex Formula can be used to check for trades either once a day or you can use the programs to trade more often for smaller profits. This makes the program great for those who have full time jobs or for people who want to be more active in their trading.

You can follow the results that I am getting with L.M.T. Forex Formula at my partner and my review site, LMTforexformulareview.com. We will be doing weekly updates and offering help to fellow traders.

Daniel Baker has over 15 years of trading experience. He started with trading futures and options in the 90's and has moved on to the Forex Markets. He has teamed up with another successful trader to provide insight and commentary on the markets and products available in this highly traded arena. Check out their video updates at http://www.LMTforexformulareview.com .