Currency Trading Robots - If They All Make So Much Money Why Does Anyone Bother To Work?

Currency Trading Robots - If They All Make So Much Money Why Does Anyone Bother To Work?

by kelly Price

It always strikes me as odd if a currency trading robot can make so much money why the vendor sells it and so cheaply and there is a very good reason.
Whenever I see a currency trading robot I always see a great track record thousands per month in profit and then I see this in the small print:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

So the track record is not real its done in hindsight knowing all the facts and closing prices now anyone can do that but the simulation doesn't mean anything about real time profitability. Most fail miserably in real time trading and the vendor doesn't trade it income comes from sales.

When I look at some of the track records I am always amused by how much money they make in hindsight. If they worked in real time banks wouldn't be paying out hundreds of thousands or million per annum in salaries to their top guys, they would buy a robot for a few hundred dollars - then, word would get out and everyone would be traders and wouldn't work at all, just put your feet up make thousands of bucks a month for doing nothing.

The above is fantasy not reality and most people who try and automatic forex trading system end up losing money.

You can make money at forex trading and lots of it - but beware of currency trading robots that promise you huge riches and to lead you to financial success the odds say your account equity will get wiped out.

I have been trading for 25 years and although you can make money at forex trading you need to do it on your own and remember no one is going to make you money you have to do it all on your own.

For the trader prepared to get the right forex education and learn the rewards can be huge - but you have to put in effort and learn no one gives you success, you give it to yourself.