Any one has experience if Forex Robots are any good for beginners?



Forex robots are a complete scam, at least those available to the general public.

If anyone had an automated system that could generate regular profits, they would use it to trade their own money. They would not be selling it for short money.

Forex is a market dominated by experienced professionals. Newbies almost always lose.

Read. Study. Take classes. Have some success in mutual funds or individual stocks before attempting more difficult markets like forex, commodities or options.

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About Matthew Anderson

Matthew Anderson is a 20 year veteran of the currency market, having worked as a senior trader and analyst at some of the world’s leading international banks. In addition to overseeing fundamental and technical research at Software-FOREX.org, Matthew is involved in the Software-FOREX.org blog and video blog. Matthew has also published numerous articles on short-term trading strategies and risk management.
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4 Responses

  1. Forex robots are a complete scam, at least those available to the general public.

    If anyone had an automated system that could generate regular profits, they would use it to trade their own money. They would not be selling it for short money.

    Forex is a market dominated by experienced professionals. Newbies almost always lose.

    Read. Study. Take classes. Have some success in mutual funds or individual stocks before attempting more difficult markets like forex, commodities or options.
    References :

  2. No its not. And even professionals, they will not use that kind of thing. The facts is Forex robots are cheaters. In the long run, you will end up losing all your investment. Do not use robot, try the real thing. To help you with, there are multiple sites that offers free tutorials with forex. There, you can polish your skills.
    References :
    http://www.currency-trading-tutorial.net/

  3. It wouldn’t be wise to trust your money to a forex robot, especially if you’re a beginner with no solid knowledge on the forex markets.

    Regardless of what you might have heard, ** Forex trading is NOT a way to get-rich-quick. **

    As with any endeavor, success with forex trading only comes to those who put in the time and effort to learn and gain experience. There are no shortcuts.

    As for forex robots, many are turning out to be scams. I don’t believe they are all scams, however.

    Some do provide consistent (albeit modest) returns. None deliver the "overnight riches" that many marketers promise.

    The link below provides useful tips on how to identify if a forex robot might be a scam. But like I mentioned earlier, you shouldn’t allow forex robots to trade for you without having a basic knowledge of forex trading.

    It’s YOUR money, after all. Be careful who (or what) you trust to manage it.

    Good luck!
    References :
    http://www.forex-trading-system-advisor.com/forex-scam.html

  4. Forex robots or EA (expert adviser) are little programs that generate trading signals based on rules that might have made money in the past. Sounds very simple, and it’s true and most companies tell you that you do not need any experience to use them, but that’s all a big, fat lie. You can not make it in trading without having discipline and you can only develop that by training. There are some of the articles at http://trd-life.blogspot.com/ that can give you more insight including unbiased reviews of some of the popular EAs – don’t be surprised if most of them are all negative, it’s because in reality most EAs are garbage to begin with, and whoever says otherwise is doing so to make a money on the sale.
    References :

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