| There are lots of forex robots online to choose from | | | | Most vendors curve fit the track record to fit the data |
| and they all claim big gains but most have never even | | | | and this is the same as shooting blindly at a barn door |
| been traded and are simply curve fitted. If you want | | | | and then drawing white circles around each shot, to |
| an automated forex trading system to make money, | | | | make everyone look like a bulls-eye. |
| you need avoid curve fitted systems. | | | | The problem is of course, no two portions of data |
| First let's start with a disclaimer, 95% of forex trading | | | | ever replicate themselves exactly again and these |
| robots use. It makes the track record presented | | | | systems that have simply been bent to fit the data, fail |
| meaningless. See the one below and the system is | | | | miserably in real time trading. |
| odds on to lose - here it is: | | | | Most systems sold have never been traded and you |
| "CFTC RULE 4.41 - Hypothetical or simulated | | | | have to ask yourself - if the vendor is confident in it, |
| performance results have certain limitations. Unlike an | | | | why doesn't he trade it? |
| actual performance record, simulated results do not | | | | The answer is - the vendor is selling systems to make |
| represent actual trading. Also, since the trades have | | | | money from subscriptions and they are mostly sold by |
| not been executed, the results may have | | | | marketing companies - NOT traders. |
| under-or-over compensated for the impact, if any, of | | | | Finding a Robot For Gains |
| certain market factors, such as lack of liquidity. | | | | There are good forex trading robots - but you have to |
| Simulated trading programs in general are also subject | | | | look hard to find them. Traders simply don't think about |
| to the fact that they are designed with the benefit of | | | | the simulated track record or don't see it and then |
| hindsight. No representation is being made that any | | | | wonder why they lose and the reason is obvious if |
| account will or is likely to achieve profit or losses similar | | | | you have read this article. |
| to those shown". | | | | Forex trading offers huge rewards, for those traders |
| Most trading systems sold online carry the above or | | | | willing to get the right forex education and apply |
| similar disclaimer and you can see the problem. | | | | themselves in the right way. |
| The track record is simply made up, using past data | | | | For the trader who thinks he can buy a forex trading |
| and that's easy. | | | | system and get rich for a few hundred bucks, all that |
| Imagine if we knew tomorrow's prices today, we | | | | he will get is losses. |
| would all be millionaires but that's not reality! | | | | |