Do automated forex trading systems seem too good to be true to you?
They did to me too. My problem was that I was so desperate to make a success of trading forex for a living that I was almost prepared to try anything, including putting my trust in a trading robot.
For anyone reading this who doesn't know what automated forex trading systems, or 'robots' are, then they are advanced virtual robots that you plug into your trading account and allow to fully manage your trading for you.
They are designed using Artificial Intelligence technology that provide them with the ability to predict market trends using detailed analysis of past market activity, allowing them to take up profitable positions with minimal risk.
So, do these trading robots actually work in practice?
Well if you believe what their websites tell you then, yes, they are a guaranteed shortcut to forex trading success. Unfortunately, as we all know, the hyped up claims of these websites are often too good to be true.
The fact that so many of these automated forex trading systems appear amid a wild fanfare that they will turn the forex world on its head, only to disappear without trace after a few months tells us the honest truth about most of them:
They were only designed to make the owners a quick buck!
In fact the very next robot that is suddenly released amid similar fanfare, will most likely be a re-branded version of the last one released by the very same owners. It's a rinse and repeat operation that has only one guarantee of making anyone any money: them!
That said, there are trading robots out there that have been around for a while and have stood the test of time. So, if you do consider trying out a trading robot, find one that hasn't just been released with wild and exaggerated claims.
Are they a shortcut to forex trading success? Well I have been using a well respected trading robot over the last few months, and can report moderate success. Truth is that there is no such shortcut to success, it takes time, hard work and commitment.
What I have found is by using a robot that does trade with consistent success, is that it has given me more time to work on other aspects of turning into a full time forex trader, and so it has proven itself to be an important piece of the overall puzzle.
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