Do Automated Forex Trading Systems Works?
If They Do Generate A Net Win, Why Do The Owners Prefer To Do A Difficulty Job Of Selling Those Systems To The Public?
I personally had a very bad experience with a commercial automated trading system (Fap Turbo). I bought Fap Turbo back in January of 09, and a month later I was requesting my money back. I think the scalping part of the system might work in the long run, but I tried the "long term investment' strategy and that was SERIOUSLY FLAWED. My theory is that the people who develop those systems are not interested in making people money that use it; but rather making money by selling it. I have a feeling that the people who develop those commercial automated trading systems have probably never traded on the forex personally. You never hear successful traders selling their strategy to other traders. I think the best thing a person can do is trade on the forex manually. If you want to view my manual trades, go here: http://alexjbrandtfx.mt4stats.com I know the automated trading systems sound very appealing, but if your serious about trading and want to make money trading, you'll do it manually. I think that my stats prove that manually trading can be more profitable then any commercial system out there, and I didn't have to pay a penny to develop my own trading strategy, just had to use my brain!
But anyways, as a result of my experience with Fap Turbo, I decided to go and develop my own automated trading system. (mixed results) It would have a very nice string of winners, then a big losing trade would come along and wipe out all the profit. Thats when I decided to hang up the towel with automated trading systems. If you do want a commercial automated trading system, do not buy one. Rather, look for a privately developed system thats free. There are a fair amount out there, such as trading signals and some listed on forex forums such as
Also if you are interested in a cash rebate on all completed trades, visit my website here:
Theres a list of free trading signal (with stats), a trader sentiment indicator and other charts to help you trade the market. I hope this answers your question!
ForexCashBack says it quite well. You risk lossing control with an automated bot trading for you. I have never been the one to buy these commercial products like Fap Turbo or whatever. I have always found the free ones on the web or in forums. After almost 1 year of tests with a few friends that trade stocks and forex we created a unique system that worked great. We threw alot of money into this bot we created. we all made crazy profits for weeks, and all 4 of us got a margin call and lost all of our money within 3 months of us starting it. now we tested this program in demo for 6 months before we went live. I'm not sure why this always happens but EA's and Bots trade great for a while then hit a brick wall and loose all the money. Trade your own account with a plan and you will be ok. Before I went live with my own money and my own strategy I have done atleast 20 demo accounts with different brokers and have used demo accounts for atleast 2-3 years now. Please take caution with trading real money. start with a micro account and grow bigger. see my demo results before i went live on my old blog. http://midasfx.blogspot.com/ please message me if you would like to know more.
Automated forex trading systems are said to be the boon for the forex trader. All you need to do, as the advertisements tell you, is to set a few parameters, and then you leave it alone to make money for you.
But, advertisements aside, can an... read more
to me i don't believe in anything automated or giving signals.
you just have to study both the fundamental and technical analysis of the forex market then develop your pattern of trading.this may take months and even years.you can see my hub page for details.
but know its only the disciplined traders that gain.
I wrote a detailed post on just this question about a week ago on my blog. Your suspicions are bang-on. I've had experience developing an automated trading system from the ground up (hard-coding and interfacing with banks and brokers, none of this metatrader crap). The short answer is automated trading systems can work, but typically only for a short period of time, and they usually don't scale up, ie they can earn $50 per month or something but no more than that (because the most successful auto trading systems are based on scalps and arbs). The other main factor I hardly ever see discussed is the idea of "self-competition"... I would be very wary of anyone selling a system because of this aspect of the technology. My post http://theForexSignal.net/automated-forex-trading/ goes into more detail.
Find Here The Best Forex Robots And Automated Forex Trading Systems http://www.sterlingexpo.com/forex. Then Decide Yourself.
They usually do not work in the long term. They might give you some profit for a week or so, but after that you will see nothing but a growing loss, untill you hit margin call. And even if it worked - why would you sell a profitable system, if it makes thousands?
Forex Robots are very fine, people prefer automated trading system. But According to me auto mated trading system is fit for some specific trading strategies like scalping, swings trading.
I have not found one that works yet...and probably I will not as if someone has automation that really works, why would they share it?
The automatic forex trading system performance depend on what broker you chose, so it's not always same profit you getting with the owner get. many trading system which sell online is not good as the owner say, even with same broker, and some seller just want to make money by selling it rather than using it because they know their system is not too good.
... not for long term success, that's for sure. The market is a fluid, changing entity. It's made up of the decisions of human beings, so how can it be otherwise? Market conditions WILL change, and a robot can't adapt to that like a human being can. If you want long term success trading, you MUST learn to trade and develop your own method, and adapt that method over time as necessary. There's no holy grail in trading, automated or otherwise - invest in yourself, not in these robots.
In my experience, most of them don't win. Many times they are created by programmers, not traders. There may be some that win consistently, but I have yet to hear of one.
I didn't try Auto Forex trading software before. But it is hard to believe it will work. I don't think software can beat professional forex trader.
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