You have seen the advertisements for Forex robots which promise you an income for life, all for around a hundred dollars and even better, you do no work! You just plug it in and sit back as the money rolls in but its pretty obvious, in a market where 95% of traders lose, these robots get destroyed and the reason is obvious and enclosed.
The reason Forex robots and the ridiculously named Forex Expert Advisors do not make money is they have never been traded and made real money and the track records are simply made up in hindsight.
All the sellers do is get the past data knowing all the closing prices and then make there track record profitable – could you make money knowing all the closing prices in advance? Well I could have a billionaire and so could, with this key information in advance but what makes Forex trading a challenge is – we do not know this information in advance.
You do get some vendors that post what they say are real time track records but there is no independent audit. you have to take the word of the person selling the system – so if it really does make money why is there no independent verification like in any other industry? Because, you do not make more money than the worlds top fund managers with a cheap piece of software.
In an industry where 95% of people lose money you need to learn skills and anyone who sits back and thinks they will get rich with no effort, will end up disappointed and with his account wiped out.
If you take…