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Do Forex Robots Work? - Money Making Robot!

Updated on April 18, 2013
image source - click here
image source - click here

Do Forex Robots Really Work?

Common sense should tell newbie forex traders that the vast majority of forex robots available at a consumer level 'don't work'. All they do is fill a newbie traders mind with a false hope of making truckloads of money, all the while destroying their chance of ever being able to learn how to trade currencies. Not only that, it also destroys any equity that they may have had.

Sadly though, many new traders upon first hearing about such artificially intelligent money making robots are usually overwhelmed with excitement and go right out and buy one. I did exactly just that, I bought it, set it up, and left my computer on 24/7 like they recommended, only to find that after 2 weeks it never even made one single trade. So I sent it back for a refund! Once again, thank god for clickbank and their 60 money back guarantee!

Now, I still hear stories of people who are having some success with automated trading software, so let's take a quick look at what this world would be like if these robots did exactly what the maker's said they would do.

Individual traders would be able to easily open a trading account, spend about a hundred dollars on a forex robot, make boatloads of real cash. Then they can quit their jobs and sit back and enjoy a lifetime of autopilot profits......... etc. etc..

I REALLY DON'T THINK SO! It is just not possible, otherwise every man and his dog would be doing it. However attractive the thought of autopilot profits may be, it is just not possible for an artificially intelligent robot to make any kind of real cash, UNLESS... you have boat loads of spare cash to throw into it right from the word go. In fact the majority of all the money being made from forex robots (as far as I can see) comes from the sale of these robots.

They are sold by affiliate marketers, that have probably never even made a single trade in their lives, and probably never will. The commissions being paid to affiliate marketers on such products is about 70%, thus being a great way to make money. The only catch being, that they are making money at other people's expense.

I am an affiliate marketer, and a forex trader, but I refuse to market any of the forex robots. Instead I have opted to market the other side of forex, that being educational resources and courses that can teach a newbie how to trade for themselves. I personally feel like a better person as a result, too.

So, speaking of education and the foreign currency markets, there is one really great site on the internet that is providing the newbie trader with a wealth of education and resources about how to trade for themselves, and that site is - babypips(dot)com

It is my advice to any person wishing to learn how to trade currencies to get yourselves over to babypips and learn how to trade. FORGET THE ROBOTS!


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    • John Shalvey profile image

      John Shalvey 3 years ago

      I designed a robot that is working successfully in all time frames. The success rate is north of 80%. I use the exact same approach that I tried to use as a trader, but I "got in the way" of my own success with fear, greed, and impatience. I was my own worst enemy. Once I took "me" out of the equation and let my robot brain make the decisions, my account began growing steadily. I have taken the best of Gerald Appel and George Paulos and finally found consistent profit in currency and ETF's. With 6 or 12 more months of track record as proof of its validity, I will likely begin selling it.

    • profile image

      James 3 years ago

      I was very pleased to find this site.I wanted to thank you for this great read!! I definitely enjoying every little bit of it and I have you bookmarked to check out new stuff you post.

    • Lukespook profile image

      Lucas Uren 7 years ago from Japan

      The answer is YES, I have used forex robots and I found that I was consistently gaining small profits but then every ten or so trades I was losing big. For example, 10 trades with $1 or $2 profit and then one trade with $35 loss. In the end I was losing more than I was making. But you are right - there are many that are successful. I am also an affiliate and I have chosen not to promote forex products because the simple fact is many people lose a lot of money using them because they don't understand how the forex market works. NOT because the robot doesn't work.

    • profile image

      stylemobiles 7 years ago

      Could I ask if you have ever used a forex robot? Or have you just got your information without any knowledge of a forex robot. Yes it is true that you can loose money using a forex robot. The reason being is that people expect something for nothing. Like all software you need to know how to use it. Yes some forex robot dealers will tell you that you make money for nothing. But they have bent the truth, what they offer is a program that can be used to gain in the forex market but without knowledge you will not succeed. The big problem with forex robots is that they are a main target for affiliates and most affiliate marketeers bend the truth about the product. There are many forex robots which are proven to be highly successful. There are many that are crap, look around you might be surprised if you gave it the chance.