The fact is most automated forex robots lose and destroy equity and they rely on hyped copy which is fantasy not reality. Let's look at the key facts that lead to equity wipe out...

1. The Track Record is Not Real

You get a track record of gains but the fact is its no indication of you making profits because its not real, it's a back test and this means the system is simulated backwards knowing all the prices.

So how can this be presented as evidence it will work in real time when its never made a cent in real time?

It can't and that's why if the track record looks to good to be true it is.

2. Trading With Little or no Losses is Not Reality

I saw an advert for one system that says it has never had a losing trade! I don't think serious traders will be buying it even though Warren Buffet can't match that claim.

Most automated forex robots promise you a regular income and the losses are a couple here and there, but even the best traders can lose for many weeks or months on end. Sure they win long term but drawdown is a fact of life in forex trading.

3. Computers are Better than Humans - No There Not

This statement is rubbish, as automated forex trading software is programmed by a human and is only as good as the programmer!

You always get its some maths wiz kid or some guru, to make you believe that you have an expert on your side - but most times the system has no chance of winning, as forex markets don't move to objective, mathematical theories and are simply an odds based market.

4. There is No code to Market Movement that Predicts With Accuracy

Really? If there really was a way of doing this there would be no market as we would all know the price in advance! The markets as we said in the previous point are an odds game and no one knows the future.

People who think they can predict prices, end up with predictions that are as accurate as their horoscope.

Most automated forex software will lose you money and its obvious there is no easy route to riches because if there were, no one would bother working for a living, they would all trade! They would spend $100 on a forex robot and earn an income for life - nice fantasy but not reality.

Making Money With Forex Trading Systems

There are a few automated forex software packages that make money but there not the hyped heavily sold ones you see online promising the end to your 9 - 5 job. If you want to use one, we have written frequently on a free one that has made money and its called the 4 Week Rule, its free so look it up in our other articles.

Sure it has drawdown and you have to look long term - but if you want solid gains, rather than fantasy gains, this system will work long term and help you enjoy currency trading success.