{"id":18376,"date":"2011-01-23T12:27:10","date_gmt":"2011-01-23T17:27:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18376"},"modified":"2011-01-23T12:27:10","modified_gmt":"2011-01-23T17:27:10","slug":"dont-fall-victim-to-forex-robot-scams","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/23\/dont-fall-victim-to-forex-robot-scams\/","title":{"rendered":"Don’t Fall Victim To Forex Robot Scams"},"content":{"rendered":"

By Ben McArthur<\/strong><\/p>\n

Can a Forex robot actually make the profits some people claim? Let’s do a little research and find the truth.<\/p>\n

Forex trading is a hot topic these days. Forex is the world’s largest exchange and every day more new traders enter the market. Many of them have never traded in any market before.<\/p>\n

Banks and financial institutions in the world are the largest players in the Forex markets. Trillions of dollars are exchanged every year. So there is no doubt there are large amounts of money at stake. And where there are huge profits to be made, there are also unsavory people hoping to get in on the action.<\/p>\n

Conventional wisdom tells us that to be a success in any business takes knowledge and experience. If I opened
\na new business in an industry I knew nothing about I couldn’t very well expect to be a success unless I surrounded myself with experienced people to work for me that could help me run the business. Trying to run the business by myself with no training or prior experience would not be a smart business decision.<\/p>\n

But that’s exactly what many new Forex traders are doing. Most have never traded any market before and go into Forex
\ntrading with very little training. Some may have taken a free trading course offered by a broker, but these courses are little more than a minimal introduction to trading. They offer very little,if any,in-depth training.<\/p>\n

So when these inexperienced traders see the claims being made for a Forex robot that can trade for them it gets their attention. The amazing profits being claimed are sometimes too appealing to many traders.<\/p>\n

It’s the promise of fast profits with no experience or knowledge needed that should be the first warning sign. But
\nhuman emotion can be an overpowering force that over rules our better judgement. Making money is something everyone wants to do. And making large amounts of money fast can be too much of a temptation sometimes.<\/p>\n

There are other things we need to take into consideration as well. Forex robots can make profitable trades. The question is are they a viable long term trading system that will make money week after week under any market condition?
\nThe truth is that most of the Forex robots being sold are advertised as having an unbelievable track
\nrecord of winning trades. The people selling these software programs don’t tell you that the percentage
\nof winning trades is calculated using past trading data. Not real time trades as they would have you believe. And some
\ntraders have been known to lose large amounts of money because the software is programmed to trade every time a pre-set
\ncriteria is triggered. None of the many other factors that can affect market conditions are factored in.<\/p>\n

So is this a Forex robot scam? Yes and no. These automated systems actually do make trades for you, and some trades can be profitable. But they can also lose huge amounts of money very quickly. They can not be programmed to take into account every market condition. So before you invest in an automated system remember that no software is infallible.<\/p>\n

Maybe the best qusetion is this; if you had created a software program that made such incredible profits and had the high percentage of winning trades these people claim, would you sell it? For under a hundred dollars like many of them do? For any amount of money? Wouldn’t it make more sense to trade your own account and make all that money for yourself?<\/p>\n

Forex trading is first and foremost a business and every serious trader shoud treat it that way. Trading successfully takes more than downloading an automated trading program and begin to make money instantly. There is money to made, but anyone promising outrageous profits in a short time period is not telling you the whole story.<\/p>\n

For more Forex trading information visit the author’s website. You may even pick up a few forex trading secrets<\/a><\/p>\n

About the Author<\/h3>\n

Want to learn more about Forex trading? Visit the author’s website for Forex trading tips and learn some little known forex trading secrets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Can a Forex robot actually make the profits some people claim? Let’s do a little research and find the truth.<\/p>\n

Forex trading is a hot topic these days. Forex is the world’s largest exchange and every day more new traders enter the market. Many of them have never traded in any market before…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-18376","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=18376"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18376\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}