Do Forex Robots Work?

Forex robots have been used by huge banks and individuals for years and have created huge profits for both. But do forex robots live up to the hype?

This article will look at the benefits of forex robots and also the negatives.

Ok, so let’s get started.

The benefits are:

1.       No longer do you have to sit around all day watching the trades and the market situation. These robots will complete all the work for you so that you can enjoy doing other things. (2nd income stream on autopilot anyone?)

2.       Anyone from a beginner to a Forex expert can use this software. It’s simple and very easy to use and can be set up within 15 minutes.  

3.       Removes all the usual human errors. A lot of times in trading the mistakes are made by human greed or anger. However these robots will eliminate all that which results in much higher profits.

4.       Robots work for you 24/7. This means that they can monitor trades across a variety of currencies and time zones all at once for maximum profit gains.

However forex robots have their disadvantages as well.  By using forex robots you do lose some control, and they are not always 100% accurate. Moreover some robots require a large upfront investment to be effective and some are very risky in their trading. This means that you have to be careful when choosing the right automated forex robot. To find out more details make sure you check out the website below.

Lyndsay Wilkinson
http://www.articlesbase.com/currency-trading-articles/do-forex-robots-work-741021.html

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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. Does all these Forex robots work that claims to be auto-traders work ?
    If you did a search on all these Forex robots for sell .. they put up videos on how they made so much money thru Using their Robots for their Forex trades. Anyone has any REAL experience of using these robots and it actually works ? Does Auto-Trade for Forex really exist ?

  2. The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

    There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. For instance, you might meet a person called "Zboy227" who says "I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227." The "/Zboy227" tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

    There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

    I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words "forex robot" and "scam" you will find a lot of sites saying their competitors are scams.

    I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.
    References :
    http://www.cftc.gov/opa/enf98/opaforexa15.htm
    http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/ForeignCurrencyTrading/index.htm

  3. There are good robots out there, and they will rarely be sold to the public. If for example a world championship winning robot is offered, the creator would already have the third or fourth gen robot in hand before the 1st gen is offered out.

    Auto trading exists, but most of it is by dabblers and people that have purchased commercial versions, so it could be pretty much auto trading to lose. Trust me, the really good robots will never be put up in video’s, and the name of the creators will only be known to a few. But if you are interested in writing auto trading software’s, go ahead, no one can say where the next world champ is going to come from.
    References :

  4. As mentioned before there’s no such thing as a forex robot that always works.

    Just think for yourself… you create a robot that trades well and brings you a lot of money, why would you sell it for $100 to somebody else?
    References :

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