Forex expert advisors are one of the most profitable trading techniques at the moment but you may be thinking how is it possible to make money without investing a single penny? Before I explain how that's possible (and how many people are making a fortune with it), let me explain what a Forex expert advisor is.
A Forex expert advisor is a service that provides Forex signals. Effectively a subscriber signs up to such a service in exchange for being alerted (essentially) immediately of any trades executed by the expert advisor. The logic being that if the EA is very profitable then other trader will want to copy its trade, and pay some money for the privilege.
signal providers will even go a step further. They will give you an expert advisor in a platform such as MetaTrader that receives the signals and places the trades on your behalf. So your trading is completely automated. You have to be very comfortable with someone else's signs trading with your money without any supervision supervision from your side, of course!
So how are you going to make $ 50,000 a month?
There's a couple of easy ways. The first one is to setup a signals service that feeds into Forex expert advisors. People will pay you a monthly subscription to receive your trade alerts. From a technical standpoint, it's quite simple too. All you have to do is a run a Forex expert advisor which feeds the signals to a signal distribution website (or server).
Subscription fees are…
by Alberto Pau
If there is one thing that created a huge stir in the
community, it would definitely have to be Forex Expert Advisors. You may be wondering if there are any
traders who are rich trading Forex Expert Advisors. My answer to that is "if they are, they are DEFINITELY in the minority."
I know Forex Expert Advisors sound like an excellent idea, but let's think about this logically. What is their main purpose? Basically, they are these trading robots which trade the market for you without any kind of human intervention. Does this sound crazy to anyone else? Letting a machine trade your hard earned money for you on autopilot ?? You may think that I'm exaggerating a bit.
Do not you think if becoming rich, letting your
expert adviser trade for you was that simple, there would be more people having success. After all, nobody would want to do the heavy lifting for themselves.
Do not get me wrong. I am as pumped up about technology as the next guy, but let's be a little realistic about it.
Another huge hiccup about EAs is the fact that you have to trust your broker. I do not know about you, but I have a very hard time trusting my broker when I'm the one pushing "buy" or "sell". With an EA, you have to trust your broker to accurately open and close trades off of a trading robot that you have no control over. That's a HUGE leap of faith.
Source by John Templeton
Do you want a free Forex Expert Advisor which is easy to understand, easy to use and has made millions in real time trading? If you do this system is for you and everything you need to know about it is enclosed.
You get a lot of Forex Expert Advisors or EA's sold online but this one will beat them all and the proof is in the performance. The problem with all the cheap heavily promoted ones is they have never been traded, they just simulate track records in hindsight on paper, knowing the closing data and that's not hard.
The Expert Advisor which is enclosed comes from a trading legend and has been making real money in the market since the late seventies and will continue to do so. Before we look at why, lets take a look at the single rule this system is based on and its this:
Buy a breakout in a currency to a new 4 week chart high – Hold the trade and wait for a new 4 week low to be made – Take out the long and initiate a short Positon. You then need to reverse the position as new 4 week highs or lows are exceeded.
The rule above is the single rule the system is based on and its name reflects this – its called The 4 Week Rule. It's so simple, that many traders think it can not make profits but it does and will always do so.
Will most traders use the above system? NO!
Of course not and the reason is – that they believe that they can trade with no drawdown and 95% accuracy which is the message sold by the new wave of cheap software packages, shame they…
I know if you have been involved with
for even a little while, I am positive that you must have heard about the
expert advisors. Quite frankly, these trading robots are garnering a lot of hype. But a lot of people are wondering if you can make money with
Well, I'd recommend that you check out some of the threads in many popular
forums on the internet. I'm sure you'll find your answer there. I think you'll find hundreds, if not thousands of dead forum threads, where traders start demoing these expert advisors, and they can never reach long term profits.
Why do you think that's the case?
It's really quite simple. It has to do with the facts that the markets are just not programmable. Beyond that, why on earth would you let a robot do all the trading on your behalf? How about the fact that you can not trust most
I do not think I'm letting any secrets out when I say that many
brokers are known for their somewhat questionable practices. I think we've all experienced stop loss hunting on our accounts.
How can you possibly trust a broker to take trades from a robot? How can you know you are getting legitimate entry and exit positions.
Also, stop and think about how much news happens during a trading day. Can you truthfully expect a
expert advisor to be intuitive enough to be able to understand the news that comes out, much less to be able to trade it?
Source by John Templeton
According to the sellers who sell Forex Expert Advisors, you can simply follow their systems with no trading experience and if you do, you can make huge gains long term with no effort but is it really that easy to make money? Let's find out …
The first point you will notice with Forex Expert Advisors is the extraordinary profits they say they can make for you. The track records are better than the best fund managers in the world yet, you can get access to the track records for just a few hundred dollars!
It sounds like a great deal, an income for life, you do not have to make any effort and it costs less than a good night out but is it to good to true?
Of course it is!
If you look behind the hyped marketing copy, you will see there is no real verified long term track record, to back up the claims the vendor makes. All you get is a simulated back test or results presented by the vendor, with no independent audit.
Today, there are a huge number of people attracted to Forex trading because of the rise of online Forex trading brokers and low account minimums which anyone can afford. Traders flock to buy these get rich quick systems and it all ends with a loss of equity.
Let's be clear – 95% of Forex traders lose! If it was as easy as the Expert Advisor Vendors say to make money, far more traders would win and they do not. If you want to win at Forex trading, the best way is to take the old fashioned route, apply yourself and learn skills!
Sure you have…
Forex Expert Advisors are huge business online and promise the road to financial freedom with no effort and all for the cost of a night out! Of course it looks to good to be true and it is and of you read this article, you know why you will lose money with all of them.
The way to cut through the marketing hype and see if these Forex robots really do make money is simply to look for evidence of them making real money, that's verified from a reliable source and its no surprise to find that not one of these cheap software packages does this and the reason is obvious – they have never made any real money! So how do they produce a track record of gains which is better than the world's super traders, who are paid millions of dollars a year in salaries and sell their system, for just a hundred dollars or so?
Simple – they make them up!
The track records are simulated, this means just getting past price data and then bending the system to fit the data, so it shows a profit. This of course is easy, as the vendor knows all the price closes in advance and anyone, can make millions doing this but that's not real life. Forex trading is such a challenge, because we do not know the price in advance!
Some vendors produce account statements, they say are correct but again there is not verified or verified and you have to take the word of the person selling the system Furthermore, look around the forums and there are traders, wondering why they are not getting the same…
Forex expert advisers or
robots are computer programs designed to automate the process of trading the foreign exchange market. Forex robots are trained to trade on the basis of specific
systems and strategies (which are a combination of rules and indicators the trader or the developer of the expert advisor is willing to base his trading decision upon if he were to trade manually).
market could be very tedious and challenging: You've got your rules for taking a buy or sell decision, and you are sitted there with your eyes glued to your computer watching the indicators to get the perfect setup, and that did not ' t happen for hours. So you decided to take a short break to stretch your limbs or take some tea in a short moment, but alas! you returned to find out you're late-you've just missed the entry point. Even when we catch the right moment, as rational animals, we sometimes yield to the tempation to bend the rules when the ride is not being smooth, but at the end of the day, you find out your emotion has just robbed you of the right decision.
In view of these traders began to turn to
expert advisers or robots, as some will put it, to beat emotions, stess and waste of time. Today, there are as many expert advisers as there are
systems and strategies. But the question is do they really solve our problems? I have tried a number of
robots; some purchased from vendors, some taken from friends and some found in the…
Source by Taiwo Oluwadahunsola
Forex Expert Advisors are one of the most popular ways for novice traders to seek big gains in Forex trading but they do not work and the reason is obvious and the subject of this article …
You see big claims made by vendors but when do you ever see a track record of real gains, that's been recorded and verified by an independent source?
I have never seen one. Anyone can claim that they can double your money each month in Forex, have 90% accuracy and only incur small drawdowns but it's not possible in the market and any experienced Forex trader will tell you this and no experienced trader would ever use one of these robots.
Do you really think you can pay someone $ 100 or less than get a better track record than the worlds top fund managers on millions a year in salaries and bonuses?
If they did work, brokers, fund managers and banks, would sack their dealing teams and use a Expert Advisor instead its cheaper cheaper than a multi million pound dealing team! Have any done this? Of course they have not.
It amazes me that sane, sensible people, actually buy these systems and think there going to win at Forex with no effort but they do. These people should really think of the old saying if it looks to good to be true it is.
You can win at Forex trading but like in all areas of life, you need to learn skills and if you do, you can make a lot of money trading. The fact is if you make the effort to get the right Forex education and education, you can make…
Technology has advanced a lot in the recent time and a Forex expert advisor (FEA) can be termed as a key example in this relation. Robots are replacing human beings in every sector and financial trading is one of them. In general terms, a foreign expert advisor is a robot which does financial trading without human assistance. These robots are programmed according to the required instructions. In addition to that, they are programmed on a language called MQL-4. The robot has to be programmed in such a manner that it takes the right decisions at all times.
Every trader programs his robot in a different manner. For instance, if you want your Forex expert advisor to inform you about certain currency pairs, you can set parameters for this task. Your robot will work according to the instructions fed by you. You can also feed instructions to initiate and end the trading activities. In this way, a lot of stress will be removed from you as the Forex expert advisor accomplishes all the tasks for you. However, the success of decision making depends on the quality of instructions. A robot can not make any decision without specified perimeters. Here, you need to provide instructions for initial setup and then relax and watch your money grow.
The foreign exchange market is very volatile. People get very emotional and discouraged when they lose money. However, a foreign expert advisor does not work on emotional parameters and adds true business sense to the entire…
Forex Expert Advisors or Robots lose money and never the user the gains they claim and the reason is obvious and the subject of this article.
If you look at the claims these systems make them look to be good to be true and they normally claim the following:
You can get access to a track record better than the worlds top find managers (with less drawdown) then, simply plug in your profit making tool and earn a regular income with no effort and the cost of this money making machine? A couple of hundred dollars or less!
Of course, if you look beyond the hyped advertising copy, you do not find a track record of real gains that's been verified. You either get a back test simulation (knowing the closing data) and even a child can make money if they know the closing price in advance or you get an unverified, track record from the vendor selling the system.
Now if you could really get a track record which as better than the world's top traders for the cost of a night out, the whole world would be trading and give up working and the credit crunch? That probably would not exist!
These systems are sold for such a low cost because they make no money.
All the great reviews you see are from affiliates selling the system hiring to make a small commission from the vendor. If the system makes so much money, why bother selling for a small amount, when you could just trade it and become a millionaire in a few years? If you have read this article so far you know the…