Forex Robots have to be one of the most talked about subjects on the
market. But are people actually making money with them? If you really do your due diligence, you'll see that many people aren't. Many people have lost a lot of money on these automated systems. There is a very simple reason for that.
The markets are complicated creatures. The idea of a system that can be programmed into succeeding through any kind of market condition without any kind of human interaction is a bit bold.
You've got to remember in the
market, we get important news every single day. Do you think the programmable robot has the capacity to understand conditions such as the Non-Farm Payroll numbers or an Interest Rate Decisions?
The majority of traders don't even know how to handle these news events. To let a
robot just blindly trade for you, seems a little dangerous.
The other obvious flaw with
robots is that you've to trust your broker as well. Now, I like my broker. There is no way in the world I'd let a robot trade in a live account with real money, just for the simple reason that I'd have to trust my broker to comply with the robot's trade signals. This can be completely manipulated by the broker.
If you don't believe me, go on any
forum and look up threads on
robots. I guarantee that you'll find threads where people have made pips (sometimes a lot) on demos with the
robots. The moment they start…