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Thread: Why Forex Robots Don't Work and Can't Make You Rich

  1. #1
    johnsmith00710
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    Why Forex Robots Don't Work and Can't Make You Rich

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    Are you running after forex robots? Many people try one forex robot after another finding all of them to useless. OR are they? Now, if you think that by buying a $149 forex robot, you will become rich. You are sadly mistaken. It if was so many would have become rich. But none has!

    The problem with most of these forex robots is that they are programmed to follow certain market conditions. Markets keep on changing. There is another problem, most of the technical indicators that we use lose their effectiveness after a certain period of time.

    Why it is so? The more traders use the same technical indicator, the more the markets become immune to them. Markets are just people buying and selling. So when a lot of traders are using the same technical indicators, they are all trying to buy and sell in almost a similar fashion. This makes them useless.

    The same goes with these forex robots. The more a robot is sold and the more people start trading with it, the more it becomes a piece of junk. Whatever, there is no escaping the fact that you need to learn how to trade currencies.

    No robot can predict the future markets. It is only programmed to trade a certain market. Most of these robots are just a few indicators that have been programmed together. There is no holy grail in trading. Indicators have also their limitations. So what to do?

    By learning to trade manually, you can learn how the markets behave. This experience will give you the predictive power of how the market can behave under certain conditions. If you want to learn forex trading than you should take a look at Forex Joe and his Forex Mastery 2.0 Program.

    Forex Joe is a legendary person among forex traders. He started as a sports bettor. For 30 years, he was a sports bettor. He was always fascinated by mathematical formulas since his childhood. So, he applied that same fascination to sports betting and developed an automated sports betting system using certain proprietary mathematical formulas. That sports betting system made him a fortune.

    Some ten years back when he discovered forex trading, he was amazed to find many similarities between sports betting and forex trading. He applied those very same proprietary mathematical formulas to the forex market and you will be amazed to know made a fortune. He is the best person who can teach forex trading. Forget about forex robots, learn forex trading from a pro. You can do it in just 2 months!

  2. Under 1st Post -dynamo
  3. #2
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    I never believe in Robots. Actually robots can not be a part of our Forex trading. Because forex market moves all the time and if we do leave our trading account to robots, these things will make random traders without predicting market trends properly. I always love manual trading and carefully trading with OctaFX broker. I chose this platform to perform safe trading in Forex.

  4. #3
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    I never believe auto-trading software. Because, I had lost my trading capital many time by using numerous trading robots. Then, I have started to learn manual trading. It is true, the technical analysis of ĎGCIí trading broker was much helpful for me to learn the actual way of making accurate technical analysis. I also had learned the general fundamental rules of Forex market. This is way, at the present I am a doing well in my live account.

  5. #4
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    For me, trading manual is the best, because in addition to giving me more opportunities to hone my trading skills, trading manual gives own satisfaction, with manual trading, I know the results of my trading's ability that I have mastered, where the weakness of the strategy that I use and how anticipate the possibility of loss in next trading.

  6. #5
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    Auto trading software can provides you instant profit but it canít be your permanent solution. Because, the Forex market change his direction every time by different guardian angel. So, I always prefer to manual trading. By the way, I have learned Forex business by watching video tutorial of FXCC trading platform. Now, I am profitable Forex trader in my FXCC live account.

  7. #6
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    Yes! I have made my trading strategy by my one year demo trading experience. I have used mt4 default indicators with fbs custom indicators for making this 20% monthly profit strategy. I know emotion and greed are main problem for us. Therefore, I am very careful about my emotion. In addition, I am extremely sincere about money management.

  8. #7
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    Banks works with EAs and complex Algos. EAs can be a part for profits, but not free or low costs EAs.....

  9. #8
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    I also lost my trading capital several times for depending trading robot. Then, I had started to learn manual trading by watching Ďfree video tutorialí of GCI trading broker. Their video tutorials are really very helpful for new Forex trader to make them as a professional Forex trader. even, now I can do prefect fundamental analysis according to their fundamental analysis. So, manual trading is much better and itís permanent solution.

  10. #9
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    Without own trading knowledge Trading robot canít be a permanent solution. Because, a Trading robot means a single program. But Forex market changes his direction more and more. That means, manually trading is much better from depending trading robot or EA. Personally; I always open my trade according to my decision. Though, I follow trading analysis of TradingBanks trading broker. Because, their market analysis gives me more clear knowledge about market movement. Besides, I read so many trading articles as well as trading eBook in my TradingBanks demo trading period. Then, I got proper trading direction. Knowledge is the main investment for traders.

  11. #10
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    dynamo - First and lasp post every thread AXITrader aff
    With a robot or manually your trading will finally depend on the strategy used, and this is not given by the robot but by yourself.

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