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Avoid the pitfalls of forex trading robots

Discussion in 'Forex' started by sakura, Nov 23, 2017.

  1. sakura

    sakura Registered

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    Forex trading robots have become a popular tool in the personal forex market. Theyre often attractively priced and are marketed as Expert Advisors that can operate on many of the favoured trading platforms. However, an increasing number of traders have been left disappointed with the purchase of their automated forex trading program that ends up performing well below expectations, which leaves them feeling cheated and even results in claims of fraud.

    Sold on profits

    Anybody with a product to sell will focus on the products most attractive features to get you to buy it, and that is especially true about automated trading products. Often, theyre presented as offering the path to financial freedom and being easy to use; claims that are backed up by historical trading profits and glowing testimonials from seemingly satisfied users. In reality, the evidence of their success is just a small sample of trading when the software enjoyed a profitable spell and leaves out the less impressive other periods which more accurately reflect its true capabilities and how it performs for most of the traders who buy it.

    The disclaimer makes it alright

    Every forex trading robot is sold with a disclaimer (sometimes well hidden) that denies any responsibility for how it will perform in the future. The words may be different each time, but the message always amounts to the same thing: theres no guarantee this software will trade profitably based on its historical performance and is there to protect the vendor from potential fraud claims.

    Get a refund but not your money back

    In an effort to placate customers who were unhappy with their trading robot purchase, many vendors would simply offer a refund. But while the purchase price of the forex trading software would eventually end up back in their bank account, the money they lost using it was gone.

    Trawl through any online trading forum and it wont be long before you come across a thread full of unhappy traders who feel theyve been misled by false advertising about forex trading robots that fail to deliver profits.



    For more detail : Avoid the pitfalls of forex trading robots
     
  2. Martin Luther

    Martin Luther Registered

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    Forex trading robots are made by programmer on the basis of given strategy. And there is no strategy that work in all type of markets. You need to up date your strategy according to the market situation. When you use someone else robot, you are just blindly following someone. Robot is good if you can make it yourself as I do. There is another problem not every broker allows using robot. But I can use my robot with MaximusFx as they allow robot trading.
     
  3. Olivia Harper

    Olivia Harper Registered

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    Day by day forex market is getting smarter. This is the reason of the popularity of this biggest market. Because the whole process is very simple and less time consuming. The new edition of this market is the trading robot. This is used as a trading tool.

    Still I am not comfortable with the automated process. Trading analysis are more comfortable me than a forex robot. I can see the result and also I can analyze it by my own way to remove any confusion. For fundamental and technical analysis I am comfortable with TopFX24. Popular regulated trading broker in the market. From this broker I am getting 24 ours very active customer support with a very comfortable trading environment.
     
  4. raniya

    raniya Registered

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    [SIZE=12pt]I have had various difficulties related to coordination of different trades and have encountered a lot of challenges with trading. Before using FXB Trading, there were times when I just could not manage all my accounts. This website has helped to changechallenging situations and now I am able to manage my accounts very easily[/SIZE]
     
  5. Ian Billcliff

    Ian Billcliff Registered

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    A forex broker is a company that monitors and advises investors on current conditions in the forex market including conversion rates. If you are looking for a broker then FreshForex is the best one to trade. They ensures 100% reliability in trading. Forex broker also provide a trading platform and other brokerage services for traders. Without a broker, you can survive in forex market. It is operating as a middleman between you and the market. I can rely on my broker for profitable trading.
     
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