This is an important question that has had so many mixed opinions and no real consensus.
At the start of my trading career, I spent countless hours looking for what I believe would be a perfect Expert Advisor. One with small draw-downs, good returns and that could make consistent profit in any market conditions. To cut this story short I had set myself for a never ending quest. The word "holy-grail" simply does not exist in the Forex world and it took me a lot of time and a large amount of wasted cash to realize this fact.
What makes Expert Advisors so attractive?
Here are some of the benefits of Expert Advisors to the everyday trader:
- No stress
- No sitting in front of the PC the whole day long looking for the right set-up
- Free up more time
- Emotion free
- Doesn't require constant monitoring
- No experience required
- No experience required
These are the main features that attract us to trading on auto-pilot and I have to admit, they are all very tempting in hind sight. However, the trading world is not as perfect as it seems. Many a time things that, "look too good to be true'' turn out to be greatly deceptive.
If you've already done some research I doubt you will be surprised if I told you that there are thousands of automated currency providers on the net. They all seem to perform extremely well when you have a look at their performance page. Here are some of their most common sales pitches:
- Make a killing trading with this robot
- Robot with a 98% success rate
- Make $1000 on autopilot every day
- Robot with 100% success rate turns $100 to $1000 in a month
All those sound great to the new comers looking for a mean to make some quick and easy cash, but sadly the reality is that many of them end up losing their hard earned money in the process. Those systems that supposedly can make you thousands of dollars in no time are more than likely going to help you lose money in a relatively short amount of time.
If you are reading this article then consider yourself as one of the lucky ones. Do not get me wrong and am definitely not bragging here, I am simply sharing with you the experience I have had, personally, over those 5 years of trading. I am one of the few who will tell you that 98%+ of the Expert Advisors available on the net simply do not work. If they did work don't you think those major financial corporations would use those systems instead of relying on their FX traders?
Well, the truth is that Banks and the other major institutions rely solely on their experience FX traders to make money on the Forex market. Compared to FX Traders, automated robots do not take into account the changes in market conditions, they simply follow a set of rules whatever the market throws as them. The Forex market is so unpredictable and volatile that trading heuristics do not apply most of the time.
Forex robots are many a time designed my mathematicians or engineers who believe they cracked the code to Forex trading. Well no offence to them but if they have already cracked the code, why am I still not profitable. You see the nature of the Forex market is such that changes in market conditions cannot be predicted. This is due to news, catastrophes, political changes etc Do you believe those robots can take all those changes into account?
Here are some of the points to take into account when investing in a Forex Robot:
- Is the developer a successful Forex Trader (make sure he is well-known and has authority in the Forex arena)
- Has the system been tested on a live account? If yes what are the monthly returns.
- Live track record of the system (no back testing only live accounts)
Potential monthly return
- Maximum draw-down.
If all the above questions check out okay then you got yourself a winner.
I spent a lot of money on different Expert Advisors over the many years, and it is fair to say that I lost more money than I made. I nearly gave up on all those worthless expert advisors until the day I was introduced to a product designed by a guy named Ashkan Bolour.
I knew nothing about Ashkan Bolour at this point. I researched the net for more information and learnt that he was a highly successful money manager who was well respected in the Forex world. He had featured in many trading books and had become quite an authority in the foreign exchange arena. I decided to try his product after seeing the nice monthly returns he had on his live accounts.
Wellto cut the story short I never looked back. If you are serious about trading and looking to make some consistent and realistic profit every month with minimum draw-down, Ashkan Bolour's system, the FXprofit Mountain, is highly recommended. This is the only Forex Robot you will ever need. - 26221
At the start of my trading career, I spent countless hours looking for what I believe would be a perfect Expert Advisor. One with small draw-downs, good returns and that could make consistent profit in any market conditions. To cut this story short I had set myself for a never ending quest. The word "holy-grail" simply does not exist in the Forex world and it took me a lot of time and a large amount of wasted cash to realize this fact.
What makes Expert Advisors so attractive?
Here are some of the benefits of Expert Advisors to the everyday trader:
- No stress
- No sitting in front of the PC the whole day long looking for the right set-up
- Free up more time
- Emotion free
- Doesn't require constant monitoring
- No experience required
- No experience required
These are the main features that attract us to trading on auto-pilot and I have to admit, they are all very tempting in hind sight. However, the trading world is not as perfect as it seems. Many a time things that, "look too good to be true'' turn out to be greatly deceptive.
If you've already done some research I doubt you will be surprised if I told you that there are thousands of automated currency providers on the net. They all seem to perform extremely well when you have a look at their performance page. Here are some of their most common sales pitches:
- Make a killing trading with this robot
- Robot with a 98% success rate
- Make $1000 on autopilot every day
- Robot with 100% success rate turns $100 to $1000 in a month
All those sound great to the new comers looking for a mean to make some quick and easy cash, but sadly the reality is that many of them end up losing their hard earned money in the process. Those systems that supposedly can make you thousands of dollars in no time are more than likely going to help you lose money in a relatively short amount of time.
If you are reading this article then consider yourself as one of the lucky ones. Do not get me wrong and am definitely not bragging here, I am simply sharing with you the experience I have had, personally, over those 5 years of trading. I am one of the few who will tell you that 98%+ of the Expert Advisors available on the net simply do not work. If they did work don't you think those major financial corporations would use those systems instead of relying on their FX traders?
Well, the truth is that Banks and the other major institutions rely solely on their experience FX traders to make money on the Forex market. Compared to FX Traders, automated robots do not take into account the changes in market conditions, they simply follow a set of rules whatever the market throws as them. The Forex market is so unpredictable and volatile that trading heuristics do not apply most of the time.
Forex robots are many a time designed my mathematicians or engineers who believe they cracked the code to Forex trading. Well no offence to them but if they have already cracked the code, why am I still not profitable. You see the nature of the Forex market is such that changes in market conditions cannot be predicted. This is due to news, catastrophes, political changes etc Do you believe those robots can take all those changes into account?
Here are some of the points to take into account when investing in a Forex Robot:
- Is the developer a successful Forex Trader (make sure he is well-known and has authority in the Forex arena)
- Has the system been tested on a live account? If yes what are the monthly returns.
- Live track record of the system (no back testing only live accounts)
Potential monthly return
- Maximum draw-down.
If all the above questions check out okay then you got yourself a winner.
I spent a lot of money on different Expert Advisors over the many years, and it is fair to say that I lost more money than I made. I nearly gave up on all those worthless expert advisors until the day I was introduced to a product designed by a guy named Ashkan Bolour.
I knew nothing about Ashkan Bolour at this point. I researched the net for more information and learnt that he was a highly successful money manager who was well respected in the Forex world. He had featured in many trading books and had become quite an authority in the foreign exchange arena. I decided to try his product after seeing the nice monthly returns he had on his live accounts.
Wellto cut the story short I never looked back. If you are serious about trading and looking to make some consistent and realistic profit every month with minimum draw-down, Ashkan Bolour's system, the FXprofit Mountain, is highly recommended. This is the only Forex Robot you will ever need. - 26221
About the Author:
To learn more about this amazing Forex robot go to the Forex Expert Advisors section of ForexTradingDomain.com for a review of all the Forex Systems out there.
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