The Forex Robots you see advertised heavily online simply don't work and some of the claims are ridiculous. Let's look at why they don't work...Most traders who buy these automated trading systems never ask the obvious question which is why don't they come with proof of performance?
None of the heavily advertised ones do they simply come with a back test simulation done in hindsight knowing all the closing prices so there made up!
It's pretty obvious these simulations will never repeat, as you don't have the luxury of the closing price in advance when you trade.
I Saw one Automated Forex trading system saying it had never lost a trade EVER! Another I saw offered a track record of several hundred percent per month in profit with losses of under 1%, no one achieves this, not even the best traders.
Of course if they did work they would be bought by major financial institutions for hundreds of millions of dollars - not $100. The reason there so cheap, is they simply don't work and while they may have fancy packaging and names that imply they teach the Forex market a lesson, they don't.
The rise of online trading has seen lots of new people wanting to trade and the robot vendors take advantage. The newbie traders think there going to get rich quick with no effort and lose.
If you want to win at Forex Trading understand this:
You need to get the right Forex education and work. You don't get anything for nothing and you wouldn't expect to in Forex as the rewards are so high. If however you are prepared to work hard no other venture can offer you the rewards that Forex trading.
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