Forex Robot - Which one is the Scam!
Unfortunately
there are a lot of Robots out in the marketplace which are just
that, SCAM.
My thoughts on
this always are to be wary of the outrageous claims. Check them
out for Support, read the reviews on the various Forex Trading
Forums.
Mind you, you
need to be careful here, as the unscrupulous may well have
already placed numerous great appraisals on the forum using
bogus contact details.
I am a great
believer in Forex Robots, in the past I have traded Eminis and
the Forex market manually.
I have had
success doing this, but I must admit I have just become tired of
watching a computer screen all the time, and then missing the
trade because I was tired, lost focus, went for lunch etc.
Those who have
traded this way will understand what I mean here.
I believe that
there are about 6 to 10 Forex Robots worthy of consideration.
Of course they
put up impressive websites, and give the Sale Patter, but those
that I am comfortable with can be forgiven.
It is after all
a Commercial World that we live in and if they did not act in
this manner then they would be swamped by all the other Forex
Robot vendors.
What should we
look for!
a)
Good results. Even impressive
b)
Support
c)
Money back guarantee.
I am sure there
are other items to look for but that will suffice for now.
I have found
that a combination of 2 or 3 of the best Robots is the way to
go. Let them run demo for a little while and then go live.
Do not,
although I have been an offender of this in the past, interfere
with the trading. The temptation always remains to Take Profit
manually and let the Stop Losses run automatically.
The robot must
run on its own, and the only manual input should be evaluation
at 24 hours, and weekly.
If the profits
are in place, then the only decision is to whether to increase
the lots or not.
All Robots will
have the occasional bad run; the trading market is not always
predictable or stable. It can have periods of great volatility.
Not to worry,
let the Robot run on Automatic.
I have pulled
the plug in the past when there is a succession of losses, only
to see the market recover.
Then there is a
string of winning trades which would have cancelled the previous
losses and shown a handsome profit.
My suggestion
is pick 1 or 2 of the well known Forex Robots, try them out.
They will honour a money back situation if it comes to that.
Steer clear of
those that are suspect. Some signs of this will be poorly laid
out websites, or maybe overly flashy websites and nonsense
promises of an endless supply of money "On Tap".
I note that a
number of my articles are translated on various overseas
articles directories. Not sure how "On Tap" will translate.
It is an
exciting area to be involved in, one which I enjoy very much.
Forex Robots
have relieved me of the constant screen watching, the
reminiscing and regret over the trade that I should have taken.
It has allowed
me to spend time writing articles, setting up websites, and
other challenges.
Ignore the
Scams as best you can, and just get out there and enjoy Forex
Trading
