| Let's face facts if you could make money with all the | | | | likely to achieve profit or losses similar to those |
| forex robots you see, everyone would be traders and | | | | shown". |
| not bother to work. | | | | Look on the promotion for the system and you will |
| After all you pay 100 and make a triple digit income | | | | probably see it. |
| then you have no need to go to work. Furthermore | | | | This is easy, we can all make paper money knowing |
| banks would sack there dealing teams (on seven | | | | the price data but you have to trade forward in the |
| figure salaries) as a hundred buck robot does better | | | | real world and you can't spend paper money. |
| (according to the track records) and reduces the | | | | Generally, these forex trading systems look at the |
| banks salaries dramatically. | | | | price data and then keep bending the rules until they |
| Now none of the above has actually happened I know | | | | have a profit. |
| plenty of traders and they don't use hundred buck | | | | The problem is: |
| robots and I know plenty of bank dealers whoa re still | | | | No two weeks of data are ever going to repeat |
| in their jobs earning seven figure salaries and bonuses. | | | | exactly again and this means losses, as the rules were |
| So why has the whole world not got into trading forex | | | | bent to fit the snapshot. |
| robots and why are they being sold? Why are the | | | | This is the flaw and you get many forex trading robots |
| vendors selling them, when they make so much | | | | which are clever and lose because they do this and it |
| money. | | | | obviously wont see the same results again. |
| Now a scam to me is when someone takes your | | | | I once made the mistake of buying one built by an ex |
| money and gives you nothing and most forex robots I | | | | NASA employee and never noted he had never |
| see don't do this so they cannot be considered scams. | | | | made real money, I was to impressed I had a man |
| They give you something describe it and its up to you | | | | who had helped man walk on the moon on my side! |
| if you buy it - that's not a scam and many will | | | | What happened to my equity? |
| genuinely give you your money back. | | | | The system wiped it out in a couple of weeks and this |
| The main issue is when you have got it, will it make | | | | system cost me $10,000 dollars back in 1991! Ouch. |
| you money and can look forward to putting your feet | | | | So are forex robots scams? |
| up, playing golf and leaving your work to a robot? The | | | | No - they give what they say and that's a system that |
| answer is no, not with the robots I see for sale, | | | | worked in hindsight - there not deceiving you, they give |
| because they all have problem which is summed up in | | | | you the warning, if you decide to take it then that's up |
| this statement: | | | | to you. Many will give you your money back but that's |
| "CFTC RULE 4.41 - Hypothetical or simulated | | | | not really much if you get wiped out in the market. |
| performance results have certain limitations. Unlike an | | | | There are very few forex robots with track records |
| actual performance record, simulated results do not | | | | that are real of 3 years or more and you can find |
| represent actual trading..... Simulated trading programs in | | | | them but most come with simulated track records and |
| general are also subject to the fact that they are | | | | you have to decide, if they will make real money. Me? I |
| designed with the benefit of hindsight. No | | | | think I will give them a miss, even if they worked for |
| representation is being made that any account will or is | | | | NASA! |