| Automated Forex robots have come in for a fair | | | | the mark. |
| amount to criticism of late. This is often fueled by | | | | The biggest pitfall of most Forex robots is that the |
| sellers of manual trading systems and Forex courses | | | | strategy that underpins them is optimized for a |
| who see Forex Robots eating into their market share. | | | | particular set of market conditions. When those |
| Likewise the noise is heightening by inexperience and | | | | conditions change the robot will trade erratically placing |
| novice traders who buy robots and don't follow tried | | | | trades expecting the market to react according to the |
| and tested rule, often overtrading, and blowing their | | | | set of rules in the code. So a trader may buy a Robot |
| accounts. | | | | when the market favors that Robot's underlying logic, |
| What people often fail to realize that a Forex Robot is | | | | and reap some spectacular profits. The market then |
| only a tool to help maintain a consistent trading | | | | changes are the robots gives up all the gains, often |
| strategy. Robots do one thing very well which human's | | | | turning into a loss. There are two ways to deal with |
| can't. They stick to the rules and are not influenced by | | | | this weakness.The first is to pick a robot that only |
| emotions. Emotions are the one thing that destroys | | | | trades when the market favors that robot and does |
| most novice traders. A Forex Robots will follow the | | | | not trade when the market turns against it. The other |
| code of the programmer to the letter allowing the | | | | is to find a robot that has a number of different |
| trader peace of mind that no trades will be missed and | | | | strategies built into it's code so that it adjusts it's trading |
| trades will be closed according to the rules. | | | | pattern according to the type of market. The most |
| If we lived in a perfect world and the markets | | | | obvious example is a robot that can trade as a |
| behaved rationally as per the strategy built into the | | | | trender when the market is strongly trending in a |
| code of the Forex Robot, we would all be very rich. | | | | certain direction, or as a ranger when the market in |
| Of course this is not the case. The Forex market is | | | | bound within a narrow trading range. Only the very |
| messy and volatile. Currencies swing all the times | | | | newest robots on the market are able to do this, the |
| influenced by a wide range of economic factors. At | | | | latest being a robot called Forex Megadroid. It is |
| one time the market might be relatively calm and trade | | | | recommended that you check out other Robots and |
| within expected ranges. Other times it will swing wildly | | | | preferably Robots that are compared one against |
| reactive to some unexpected good or bad news in | | | | another in a real time test situation. |