There are numerous forex robots for sale and most of them will simply wipe your account equity out, there are a few worth considering and this article is all about finding the few good ones...
If you want to get rid of the vast bulk of robots look for the ones that have track record that is to good to be true and exaggerated claims - then check the risk warning and you will normally see, the track record is simply a paper, back tested simulation, done with the benefit of hindsight.
So you have a forex robot that claims it can make you money but is actually not proven itself and has a made up track record.
Don't be taken in, my 8 year old daughter could get a track record of gains if, she had all the closing prices and you could too. You don't get a lifetime income for $100 or so and no effort, that's not the real world of trading.
Are there any good forex trading systems for sale?
Get a Real Track Record
There are and some have solid track records over a few years in real time - but you have to find them. They cost a few thousand dollars not 100 odd bucks but you at least have some evidence the system has worked and is based on sound logic.
A FREE One For Big Gains
There are other options as well and believe it or not, you can get a free one which has been used by savvy traders for over 20 years and it's made countless millions.
This one may be simple and doesn't come with fancy packaging however it works and will continue to do so. We have written about it in our other articles so look them up, it's called Richard Donchian's 4 Week Rule.
Building Your Own Is Easy!
You can also build your own in a few weeks and it's a lot easier than most traders think to do this. We have written on how to put together a simple, robust, breakout system and it's a great way to make money.
There is a huge advantage of building your own automated forex trading system and that is - you will understand it and because you understand it, you will have the confidence and discipline to follow it through losing periods.
Executing Your System With Discipline
When you trade any mechanical forex trading system, you will have losses and you must trade through them with discipline and keep executing your trading signals. Keep in mind, if you can't trade with discipline, you don't have a system!
Forex robots can work and give you an objective, time efficient, way to make money but you need to be aware that, you need to look longer term and you need to trade with discipline.
Most of the forex robots sold won't give you profits, there are however some that can make you money.
If you take on board, what we have said in this article, you can find or build one, that can make you great long term profits.
Forex Robots - Why Do Most Give Users Losses and Destroy Account Equity Quickly?
