Forex Robots or otherwise known as forex autopilots claim to be fully integrated automated systems that enable any day trader to make profitable trades, but is this really true? In order to answer this question we need to look at how these programs work.

Forex robots work the currency exchange markets around the clock 24/7. Something that people obviously cannot do which is their main appeal to traders. The idea is to simply set up your margins and let the algorithms built into the program work their magic. These algorithms contain the technical and fundamental analysis that is extremely important to making successful forex trades. But it isn’t enough to simply set up a forex trading robot and hope and pray you’re going to make money, let’s be honest it goes beyond that. But some forex robots are better then others. Some have built in indicators depending on your margins and analysis. These indicators can analyze the trends behind the trades within fractions of a second with complete precision but this still doesn’t guarantee success. You still need to set up your trading strategy. Yes you can just as easily lose money using forex robots as you can make money with them but once you initialize the system with a strategy you are comfortable with the forex robot will now excel whereas the human trader can still falter. This is because the system is tuned to your strategy and the emotional factor behind the trade is eliminated.

It’s easy even for experienced day traders to make mistakes even once they set up a strategy because human emotion can so often play an impact. But with forex autopilots they simply work within the boundaries you set and since these trading systems are designed around actual performance and not just simulated data, they can work within a liquid and volatile market like the forex currency exchange with amazing results.

To learn more about forex robots the author David Pentoch has written a full review of the more popular forex autopilots available and the strengths and weaknesses behind each. To read the full reviews behind each of these trading programs you can go to http://www.mybrokerforextrading.com

Not all forex trading robots are created equal and each are set up and designed to run against different models. Some models have proven to not be as profitable as others. To see which forex trading robot fits your trading strategies go to http://www.mybrokerforextrading.com

The global forex market is the largest financial market in the world. The daily transaction in the market totals up to 3.5 trillion USD. There are some popular myths about forex trading. The first one is the process is extremely difficult and complex, and you need to have mathematical and analytical brain to earn some profit from your investment. The second is you need to personally attend the trades to maximize your chances of profit. All these advise you can simply ignore if you have a forex autopilot software like Forex Tracer, Forex Raptor, or Forex Killer with you. These forex robots can be expressed as your legitimate and completely ethical means to earn money from forex.

Before going into the details of earning we must know how these forex autopilots work and why the profit you earn using them is legally safe. These autopilots in most of the cases are designed by forex consultants and experts who have years of experience and exclusive personalized trade secrets for their forex trading. With slightest of the market movement or a tiniest dip in the currency analysis curve they can sniff what is coming up. After a while, they become experts in predicting and speculating market trends that come true in majority of the incidents. Their experience when combined with software programs turn out to be the deadly combination, which works behind the forex autopilots. So, when you buy the software you trade just like the expert trader who designed the system and therefore there is nothing unlawful about its use.

As the systems are highly mechanical in nature, they can repeat the trades again and again without feeling tired like a human trader. The software cannot take wrong decision as well, if not forced to do so. It can take on multiple trades in the same market or in more than one trading markets. You can set the software work as a day trader or a scalper, or a carry-on trader in the forex spot market. In other words, your forex autopilot software is free to take independent decision as you ask it to do. You need to keep the software running and attend your own preoccupations. The automatic program will select the trade to enter, when to enter, when to exit, and how to place the stop-loss limits. Depending on the setting the software will freely review the market situation to locate upcoming trends to alter the strategy.

The situation is even more in your favor if you have previous trading experience. Then you can ask your autopilot how you want it to trade, and it does it, mechanically, without ever failing because of human psychological factors. The more you stay away from your terminal the better the chances are for you. You can test different parameters like different currency pairs and trading strategies to finalize the winning combination and lawfully earn huge profit from your forex trading.

Read more on how to legally cheat forex here.

Forex trading robots are all the rage and you will find loads of them for sale online all promising you instant riches - the truth is 90% or more will lose you money. You can find ones that will make you profits but you must be careful - Here are some tips on getting a profitable one.

Below, you will see a warning that accompanies the vast majority of forex robots, as soon as you see it DON’T BUY IT! Read it and you will understand why.

“CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

It’s pretty obvious you shouldn’t trust a trading system that has never been traded! Anyone and I mean anyone including my 9 year old niece can make money looking backwards the problem is you have to look forward.

You never see profitable track records that have broker account statements or are audited. The best I have seen was the personal bank statement of the vendor however, bet that’s not from trading that’s from selling systems!

So are there any good ones out there?

Yes there are but there not cheap. If you get one with a real time track record that’s reasonable expect to pay from $1,000 - $20,000 or more. Always make sure when you check a track record it’s independently audited and is at least 3 years long.

Even when you have done this you need to know how it works so you can follow it with confidence and discipline. You also must be comfortable with the draw down and how long it lasts for in terms of recovery time.

Another alternative - Get a FREE One!

We have written frequently on a great trading robot you can get for free called Richard Donchian’s 4 Week rule its simple to understand ( one rule), is based on timeless logic and you don’t even need a computer program to trade it.

Before you say it’s free and simple it won’t make money, look it up or read our other articles and remember - simple trading systems are best, as they are robust, in the face of brutal ever changing market conditions.

The above system has been the basis of many a successful forex trading system and trading legends such as Richard Dennis have used it, so if its good enough for him, its good enough for you and me!

So there you have it 3 options. You can buy a robot with a simulated track record and get wiped out, pay a bit more and get one with at least a real time track record, or get a free one you can adapt or use as it is. Try the latter option and you maybe glad you did.

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I have seen most of the online Forex trading robot systems. They all claim they have huge profits. Most of their track records have only been simulated their predictions in hindsight have never been traded only simulated.

If your like most people we need actual facts on a trade and we need them to be strong and secure in order for us to even think about working with a Forex robot.

No one wants to lose their equity into something that could be dangerous if used. So why are there so many trading robots in the market place? The answer is pure and simple, they are there only for the sale and some don’t even test them out in the real exchange.

If your in the market for a Forex robot be very careful on which one you buy. Go to the website see if they have made trades personally. Make sure all the t’s are crossed. By all means make sure they have money back guarantees on the products. When I buy and test out any Forex robot, I make sure they have at the very least thirty to fifty days money back guarantee if i am not satisfied with system.

I will leave you with this, in all your money making ways you have a gut instinct for everything you come across. Follow that instinct, if it says yes, wait a day to really feel it. If it says no, back off immediately and continue on your way.

Most success is made from the gut instinct.

Visit John’s website http://forex-currency-trader.blogspot.com/
John works on with the Foreign Currency Market and continues to grow and learn each and everyday. He does not boast of being an expert but only tries to help us by showing the things he has learned throughout his time of trading.

Automated forex robots are the choice of many new traders but the profits they promise are just fantasy in most cases and the reality is a quick wipe out of your account. Let’s look at why they lose…

If you want to trust an expert you can but make sure they can do what they and have a track record and no where is this more important than with forex trading robots. Fact is the profits they claim are not real, their fantasy paper profits.

Just check the track record and look at the small print and you will see that It’s a back tested simulation.

Well to me that’s not hard, a child could do that and paper profits cannot be spent down the store!

The acid test is doing it in the market and making real dollars, the huge amount of forex automated forex robots sold, have simply never done this.

How can you claim a system will make money for the user, when it’s never made a cent in real time? It doesn’t make sense to me.

Would you trust a system where the vendor hasn’t bothered trading it, despite the fact he tells you it can make you a millionaire? Neither would I, avoid them.

Are There Any Good Ones?

Yes there are and we have written about a free one - The 4 Week Rule which works and will out perform all the ones with simulated track records, its explained in our other articles so look them up.

You can also get some with real track records which are solid and while these systems cost more, than the $100 buck simulations, you have real evidence of profits and can make your money back many times over.

When looking at any forex trading system, the key is to avoid the simulations, look for ones that have made money and ones you agree with the logic.

This means, that if know the logic, you can have confidence in the system and you can trade it through draw down periods, all systems have them and you need to apply with discipline until you hit a home run.

So there are few automated forex robots that can make you money, it’s a tiny minority but find them and you can achieve long term profits.

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There are some sources that give forex trading advice and they shouldn’t be trusted and here we will look at what may seem good advice but is not, here are 4 examples…

Here they are in no particular order of importance - there all important!

1. Advice in A Forex Forum

The only people who hang around forums giving advice are, losing traders who just want to make themselves feel better, or vendors hoping to sell there products. If you want bad advice, a forum is a great place to go - steer clear.

2. Product Reviews

How can you independently review a forex product when you’re selling it and have a vested interest in making it look good to make money?

Click most of the reviews and you see and you will normally go a site, where the writer gets a commission on the sale. There are loads of them on the net and the most popular ones involve the following:

- Day trading scalping courses or systems

Day trading and forex scalping doesn’t work by its very nature and you should steer clear of them. You get presented with a track record (simulated in hindsight on paper not real money) but you wont win, ask for a real track record and see if you get one.

- Forex Robots

Again you get a simulated track record and the person normally tells you have to get used to the system, practice it and make it work. Strange that - if it’s a robot, shouldn’t you just plug it in and make money? Huge amount of these on the net and most will wipe you out.

3. News Stories From Experts

Don’t those CNBC and CNN reports sound convincing?

They are and there well put together - but they won’t make you any money.

Markets don’t move on fundamental news (which is instantly discounted) they move on investor sentiment and future perception. Will Rogers once said:

“I only believe what I read in the papers”

He was joking - but there are huge amount of people, who believe what they hear from so called experts. Don’t be drawn in by tempting stories, you will lose.

4. Brokers

Sure they do a good job placing orders etc but if they were any good at trading they wouldn’t be brokers. A broker assisted account or broker news and tips, is unlikely to make you any money

So What is Good Advice?

Get down to your local bookstore or Amazon and stock up on some books from traders who have walked the walk, rather than talk the talk. You wnat people who have traded you can learn from, not just follow blindly.

Use the above and free resources online, to build your own forex trading system, based on forex charting.

Get a forex trading strategy you are confident in and this means building it yourself and it’s a lot easier than many forex traders think.

At the end of the day, the best advice is your own from your trading signals generated from your system. In fact, it’s the only forex advice that can lead you to long term currency trading success.

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This is a concise currency trading tutorial, which will give you all you need to get started in currency trading and develop a trading system for triple digit annual gains…

The first point you need to keep in mind is 95% of traders lose and only 5% win. While anyone has the ability to learn currency trading and win, most lose.

So what separates out the winners from the losers?

The real difference is mindset and currency trading is really 20% method and 80% mindset and some explanation will make this clearer.

Discipline and Self Control

Anyone can learn a forex trading system but the key to success is, executing it with discipline when you are losing. It’s not easy to keep putting in your trading signals, while the market hands you losses and makes you look a fool. You need to be disciplined until you hit a home run.

You only get discipline from confidence and understanding.

This means, learning currency trading basics, on how and why prices move and getting the right forex education. You can then build a simple currency trading system.

Sheep Get Slaughtered

The traders who act like sheep and try and follow others, by buying forex robots or gurus and mentors never win.

Most of the forex advice just mentioned, is poor and even the minority which is good, a trader who doesn’t understand the markets will never have the discipline to follow it.

You must accept success is on your shoulders and comes from within - NOT someone else!

You must understand what you are doing and why it will be successful and this point cannot be stressed enough.

Getting a Simple System For Huge Profits

Any currency trading system that is successful is simple!

Many traders think the more complicated they make their system, the better the chances of it being successful - but this is simply not true.

Simple systems work best and always have as they have fewer elements to break in the volatile and brutal world of currency trading.

A simple long term breakout system, with a few confirming momentum indicators, is all you need and we have covered how to build one in simple steps in our other articles, so look them up.

Why Anyone Can Win

Its because currency trading is a learned skill - you just need to work smart and learn the right forex education and have the right mindset and now I want to tell you a story to inspire you…

Richard Dennis decided to prove anyone could learn to trade so he picked a group of people of all ages, both sexes and of varying levels of intelligence. The varied in occupation from a security guard to an actor and Dennis set about teaching them.

In 14 days they had completed their trading education and went on to trade, they quickly went on to make $100 million dollars and go down as trading legends.

So why did this group do so well?

They had a good teacher for sure - but he only taught them a simple trading system.

The key element he gave them was the confidence and discipline to apply it for themselves and in later interviews, many of the traders said:

Learning the system was the easy bit - remaining disciplined was hard.

So get a simple system you understand and the chances are, you will be able to maintain discipline and go onto achieve currency trading success.

Anyone can win at currency trading and the real lesson to take from this currency trading tutorial is:

That the market doesn’t beat the trader, the trader beats himself.

So work smart, have the right mindset and you could be making a great second income, or even get on the road to financial freedom and remember - success can be yours if you understand the points in this article.

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If you want to become a currency trader and win the good news is you can but you must be aware that 95% of traders lose, because they fail to consider the 3 key elements we are going to look at in their currency trading strategies…

Here are the 3 key elements and you must have them all to win

1. Only You Can Make Yourself Successful

You will be bombarded with forex advice online from mentors and gurus selling sure fire systems and forex robots which promise you untold riches and you don’t have to make any effort! If you want to become a currency trader from home and win - ignore them.

Common sense tells you that you don’t get rich without effort.

Most of the systems sold online by vendors promote their products with back tested meaningless simulations and they mean nothing.

When you trade you don’t have the luxury of knowing the closing prices.

You need to work at the basics and get the right forex education to win.

You don’t have to work hard, you just need to work smart and you can get a forex trading system that can win together in about 2 weeks.

2. A Simple Logical Strategy Which Avoids the Myths

There are many myths that can put you off getting a robust winning strategy and they include the markets move to a scientific theory ( they don’t ) and the more complicated a strategy is the better it is likely to succeed ( the opposite is true) and there are many others. You need to understand and build a system based upon the following logic:

Markets are an odds based game and you need to trade high odds sets ups. You also need to keep your system simple, because simple systems are less likely to break in the brutal world of trading, than complicated ones.

Building a trading system is easy, the next bit is the hard part - master it though and you could be on your way to a triple digit annual income.

3. Discipline and Execution of Trading Signals

In forex trading you need to lose to win. You need to accept the market will make you look a fool and that you will face at times, weeks of losses. When you’re losing you need to keep executing your trading signals with discipline, through the losing period, until you hit a home run and clean up.

I know many traders who lose 70% of the time but make huge profits, because their discipline and money management is so good.

Forex trading is not about being right and being clever, it’s about the dollars you put in your pocket.

Remember …

Forex trading looks easy but its not and you wouldn’t expect it to be, with the rewards on offer which, can be life changing. However, if you are prepared to make an effort and learn currency trading correctly, focus on making money and you are disciplined at all times, you can make staggering gains.

Keep in mind the market doesn’t beat the trader, the trader beats himself. If you want to become a currency trader, keep this point firmly in mind and make sure you have the right system, confidence in it and the discipline to execute it and you can make triple digit annual gains.

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Does anyone make money with Forex trading? In theory, there should be a trader making money and another one losing money in every transaction. However, the fact is that less than 5% of all Forex traders make a profit month after month. Even though Forex trading sounds like a lucrative way of making money, you should be very careful as it is just as easy to lose all your starting capital as it is easy to making huge returns on it.

1. How Does Currency Trading Work?

Currency trading is the buying of one currency and selling of another. When the value of the currency that you buy increases against the currency that you are selling, you will make money when you close that position.

2. Is It Really Possible To Make Money From Forex Trading?

If you have tried to make money from the foreign exchange market before, you would already know how difficult it can be. Despite all the claims made by experts selling their profitable trading systems, you seem to fail to make money no matter how closely you try to follow their methods.

3. Is It Really Possible To Make Money From Forex Trading?

As I have found out today, it is indeed possible to make money from the Forex market, and I have been doing it consistently for many months now. It won’t make you a millionaire, but with the right strategies it is entirely possible.

The truth is that there are successful traders who use systems that can generate up to 50% returns every month. What they have is a consistent system proven to make money over time. In fact, some of these systems have been programmed into automated trading robots that trade the Forex markets for their users on autopilot. Nowadays, I use a trading software that trades Forex and makes money for me automatically. You can find out more about it at the website link below.

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The author has found a 100% automated Forex Trading Robot that is making him over 20% returns on his capital every month. CLICK HERE to find out about it!

It’s a fact that most of the Forex robots sold online lose money but if you want to find the best Forex robot here is a simple tip to use…

Most Forex robots claim they can make you huge gains and they present track records but these track records in most instances turn out to be no more than a simulated, back test - simply look for this warning.

“CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading.

How can you claim a automated Forex trading system can make you money, when it hasn’t made any at all?

To say a back test is an indication of future profits is ridiculous, as you have one key advantage when testing backwards - you know what happened!

Now I could make a fortune, if I had tomorrow’s price history today - but I don’t.

That’s why Forex trading systems collapse in real time trading. No two data segments are going to repeat again and this spells equity wipe out and quickly.

I get bemused that people actually believe them - financial freedom and all you pay is $100 - dream on!

Are there any good Forex robots out there?

Yes there are and they can make good solid long term gains.

The way to choose the best Forex robot for you, is simply to get one that has made money and suits your risk profile.

The best will produce between around 30 - 100% per annum and generally, the higher the gain, the higher the drawdown.

Typically, you can expect to drawdown your equity by between around 25 - 50% and these drawdown periods can be anywhere from a few days to a few months - so you need to look long term and ignore short term fluctuations.

Don’t believe anyone who tells you losing periods can be avoided or short - its not true and even the best forex traders in the world will suffer long periods of losses of course they win longer term - but short term they must ride out the loss and stay focused.

Another key element in choosing one is you MUST understand the logic the system is based on and have confidence in it otherwise; you will never follow it through periods of losses and execute the trading signals with discipline.

To find the best Forex robots you need to do some research and ignore all the hyped ones, with there simulated track records. If you do this, you can find a good automated forex trading system which can make you great long term profits, in around 30 minutes per day.

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