| You have a lot of forex robots to choose from and | | | | 50% with the latter being common number. |
| most claim they can make you thousands of percent | | | | - Drawdown periods last from few weeks to few |
| in profit per annum but can you really make these | | | | months |
| gains - let's find out... | | | | Keeping the above 3 points in mind when trading a |
| The answer is most track records presented by forex | | | | forex robot you need to: |
| robots are not real money, there just a back test on | | | | 1. Look at long term gains and understand short term |
| data. Look at the really "to good to be true" track | | | | the system will swing heavily. |
| records and you will see the words "hypothetical" | | | | 2. Be prepared to face a losing period that can last for |
| "simulation" all over them. They have actually made no | | | | months. |
| real money! The vendor has just sat down and bought | | | | I trade an automated forex trading system and have |
| and sold on the charts and makes a profit because he | | | | done for many years and it compounds at 33% over |
| can see the closes - but you can't do this is real life! | | | | a 5 year holding period and worst drawdown was |
| If you think about it, most forex robots claim track | | | | 44% and it lasted for 4.5 months - so you can now |
| records that the worlds best fund managers would not | | | | see what you can expect. These are good solid gains |
| be able to match and all for the price of a meal and a | | | | and it takes me just 20 minutes a day - but you can |
| few beers. | | | | see why you need to look long term and be disciplined. |
| Of course this is just fantasy land not reality and every | | | | Forget the fantasy, dream world of forex robot |
| robot I have seen with a simulated track record, will | | | | simulations and get into reality and understand this: |
| never make consistent profits and if they did the | | | | You can make great gains but you need to be judging |
| vendor would have the confidence to trade his own | | | | your system long term - you don't get rich overnight |
| system and publish the results but of course he | | | | but with compound growth, working long term you can |
| doesn't for obvious reasons. | | | | compound massive gains. |
| Ok so now we have the simulations out of the way | | | | You need to accept short term losses and be |
| and got rid of the bulk of the robots its time to look at | | | | disciplined in your application. If you can do this, a good |
| some with real track records over 3 to 5 years and | | | | forex robot is a great addition to your forex trading |
| the if you look at any good ones you will notice that | | | | strategy which can make a lot of money for very little |
| - They compound 25 - 100% per annum | | | | work on your part and that's very attractive. |
| - Drawdown on Equity ranges from around 25% - | | | | |