Is a Forex Autopilot Trading System an Automatic Profit Machine?

Can a Forex autopilot trading system really make the kind of profits some people claim? Or is it really just a Forex robot scam? Let’s do a little research and find the facts.

Forex trading is hot these days, and I do mean hot. Smoking hot. Forex is the world’s largest exchange and that can be an irresistible magnet for many people. New traders who have heard about the large potential profits to be made are drawn into Forex trading. People who are looking to start a home based business are intrigued by the prospects Forex offers.

One thing we all know to be true is that Forex does indeed present an opportunity to make money. That we cannot deny. We have all heard of people who have made their fortunes trading in the stock market. But the stock market pales in comparison to the Forex. Forex is the largest financial market in the world, and is traded across the globe.

The largest banks and financial institutions in the world are the major players in the Forex markets. We’re talking about trillions of dollars exchanged every year. So there is no doubt there are huge amounts of money at stake. And where there are huge profits to be made, there will also be unscrupulous people wanting their share.

Conventional wisdom tells us that to be successful in any business venture takes knowledge and experience. If I opened a new business in an industry I knew nothing about I couldn’t very well expect to be a success without hiring experienced people to work for me that could help me run the business. Trying to run the business by myself with no training or prior experience would not be a wise business decision.

But that’s exactly what many new Forex traders try to do. Many have never traded any market before and go into Forex trading with very little, if any training. Some may have taken a free trading course offered by a broker, but these courses are nothing more than a minimal introduction to trading. They offer little,if any,in-depth training. So when these inexperienced traders see the ads for a Forex robot that can trade for them it peaks their interest.

The supposedly amazing profits that a Forex autopilot trading system can make is too much to pass up. It’s the appeal of fast profits with no experience or knowledge needed that should be the first warning flag. But human emotion can be a powerful force that overrides our better judgement. Making money is something we all want to do. And making large amounts of money fast can be too much of a temptation sometimes.

But there are other things we need to consider as well. Forex robots do exist and they can make profitable trades.The question is are they a long term trading solution that will make money week after week in any market condition? The truth is that most of the automated trading software being sold is touted as having an unbelievable track record of winning trades. The people selling these automated software programs don’t tell you that the percentage of winning trades is calculated using past trading data. Not real time trades as they would have you believe. And some traders have been known to lose large amounts of money because the software is programmed to trade every time a pre-set criteria is triggered. None of the many other factors that can affect market conditions are considered.

So is this a Forex robot scam? Yes and no. These automated systems can make trades for you, and some trades can be profitable. But they can also lose large amounts of money very quickly. They can not be programmed to take into account every market condition. So before you invest in an automated system remember that no software is infallible.

Forex trading is a business and every serious trader should treat it that way. Trading successfully takes more than downloading an automated trading program and begin to make money instantly. There is money to made, but anyone promising outrageous profits in a short time period is not telling you the whole story.

Article Source: http://EzineArticles.com/5492743

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