By Sonia Kristina
You will find numerous cheap robots which promise you huge gains with low drawdown and even better, you don't have to do any work! Who wouldn't want a life time income for just the cost of a good night out. Let's look at the reality of Forex robot trading and see which lose, how much you can make with a good one and how to find one.
If you want to spot a losing Forex robot just look at unrealistic claims and you will find plenty and all the following statements are not true:
- Make a regular income monthly
- Make Over 500% with Less than 10% drawdown
- Trade with 90% Accuracy or more
- Predict Future Price Movements in Advance with Artificial Intelligence
There are many more but the above statements are laughable and if they were true these robots would be turning in better numbers than the world's top traders like George Soros.
In addition, if they were true, banks would save billions by firing there dealing teams and replacing them with a hundred buck robot and of course this has not happened. Despite all the huge claims of profit these robots make, most have never made any real money!
Just check the track record and you will find the track record is simulated on paper ( which means done on paper knowing all the closing prices) or you get results direct from the vendor, who is selling the system with no outside check. Quickly go to some forums and you will see users, who are bemused there not getting the same results!
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Unless, the track record is audited and from a neutral source pass the system by. You need audited results but how much can you make with the best robots?
You can make up to a hundred percent per annum with the best which is a great return but you will get drawdown too and these drawdown periods will last a few weeks to a few months and be in the region of 30%.
If you want great long term gains a good robot can give you them but be prepared to judge performance over the long term and always remember all robots make big claims but few have a real time track record and in Forex trading that's all that counts
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