Do automated forex systems work?
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Tagged with: Forex Questions
Filed under: Forex Software
I was just as skeptical as many. I took 5 years to learn how to trade forex under a forex trader. I spent nights going through charts and charts late into the nights.
I made some money enough to survive. So when the automated systems started coming up this year with all the sales hype, I was skeptical but seeing they all sold so well, I went in as well. I tried a few types and to my surprise I admit they proved to be positive in the results. I didn’t make what they claim but enough to make me happy as my earnings jumped and now I’m no longer just surviving.
So don’t write them off. But like all things regarding investments always manage your risk.
Automated systems are just tools. Some are good and some are not so good. They generally can help you if you know how to tap into their advantage. Don’t go in thinking they are magic.
I’m not exactly sure, but it does seem like a scam to me.
Look at it this way.
Let’s say you are a computer programmer. You spent four years in college learning about computer science, and you borrowed or worked your way through college.
You then start working on a program that you think will make money in the forex market and will do so with the least attention from you. It took a long time to first find a trading method that works, and put that into computer language–total about three years.
Now figure out which is the best way to get the best return for all that you have invested: college education, finding that perfect trading method, and programming them into a computer. Now let’s say that with this automated forex system of yours will earn you a return of 3% each month. Which is the best way for you to make money out of this?
- Using that automated system to trade your own capital?
- Sell your automated system to financial institutions?
- Sell your system to every Tom, Dick and Harry on this forum for less than $1,000?
Consider this:
A person who makes 25% profit annually is a king of wall street. Many top flight money managers would give away their first born child to be able to do this. A trader who consistently doubles his money each year is a star in this business.
If you set modest goals for yourself and achieve them, you can go very far. If you can make 30% annually, people will beg you to manage their money. If you manage $10million, not an outlandish amount in today’s markets, your management fee alone can run to 6% of that, or $600,000 a year. If you make a 30% profit, you will keep 15% of it as an incentive fee, another $450,000. You will earn over a million dollars a year trading, without taking big risks.
Given the figures above, do you think I’d sell my automated trading system for less than a grand when I could be making a million a year instead?
Hope this input helps.
http://jsforex.blogspot.com
I also found a couple websites that can answer your question.
Automated Forex trading software does work for me.
I bought Forex Tracer at
http://retirerichguide.com/ForexTracer.html
after reading a review at
http://retirerichguide.com/Forex.html
I started with demo account and now I am making money.
You can try and see if it will work for you. There are 56 days money back.
Good luck
Well, the are pros and cons.However, they ca be very good for helping you take more easy decisions.But, ultimately it is your decision, not some trading forex software.
Short answer: "yes"
Long answer: Many do, but many are actually SCAMS which need to be avoided like the plague.
The forex system I use now is called "Forex Autopilot" and I found it on this site: http://www.fxsystemscompared.com/rev_forex_autopilot.html
Basically, that site took customer comments and unsolicited reviews from the web and put them into their own big, truly unbiased review.
It’s a far cry for all the other BS you’ll find trying to "promote" software to you.
No.
This one does for sure! I was very skeptical but it does work ~ 90% of the time
http://forex.lem4.com
If your looking for something that works 100% of the time in investing you should save your money now. Nothing can guarantee large returns with no risk so be wary of anyone that tells you otherwise. On to your question, yes they do work, some better then others. Do a little research before purchasing one. I ended up buying the Forex Tracer because of the 60 day money back guarantee and have found it to be more then accommodating for my needs. It doesn’t always make money but the upswings far outweigh the losses so if you are a true investor you can see the value in that.
Like you, I tried to find best expert advisor and read about forex trading systems, and I found best review site for it and showing you its cons , pros:
http://www.topforexproducts.com
are you an affiliate!???
well the Daddy is:
http://pipboxer-review.blogspot.com/
whilst other automated software can be found here,
http://forextracertrading.com/