If you are familiar with Forex, I bet this is one of those questions that got your brain juices running.
My trading career begun when, Expert Advisors were becoming popular among the retail traders. The hype and results surrounding those systems were so mind-blowing that I believed Forex would be an easy trading game. I wasted a lot of time and money in search of the best Expert Advisor out there. I bought literally every EA that hit the market. They all promised the sky but in the end I was left with nothing. It took me a while to come to terms that most of those systems were no definite solution to currency trading.
Why use Expert Advisors?
Below are some of the main reasons why traders are attracted to Automated Expert Advisors:
- No emotion involved
- No thinking involved
- More time to relax
- Emotion free
- Easy to use
- No need for experience
- Help documents available
The above, outline the main points why traders seek the use of an Automated Expert Advisor. They do look attractive when put that way; however you should also consider the negative aspects as well.
If you have done your home-work, you would know by now that there are numerous automated Forex providers on the net. They all claim the same thing, to make insane money in no time. Some of their famous selling pitches include:
- Robot turns $1000 into $10000 in matter of days
- No losing Forex Robot that can turn $500 into $5000 in less than a month
- Make $1000 on autopilot every day
- Plug in and make money in a matter of minutes
If all these were true we would all be filthy rich by now and I wouldn't have spent thousands of dollars on useless Expert Advisors that do not work. The reality is that most of those expert advisors are in plain English B.S. The chance of you losing money is much higher than you making money.
If you are reading this article then consider yourself as one of the lucky ones. Do not get me wrong and am definitely not bragging here, I am simply sharing with you the experience I have had, personally, over those 5 years of trading. I am one of the few who will tell you that 98%+ of the Expert Advisors available on the net simply do not work. If they did work don't you think those major financial corporations would use those systems instead of relying on their FX traders?
However, that is not the case. Banks and major financial institutions rely solely on their human minds (traders) to make money day in and day out on the market, not on the so called Robot traders. Those major institutions understand the fact that market conditions are not always in harmony and that price is highly unpredictable.
You must have heard of those mathematicians and engineers coming forward and voicing out the fact that they have cracked the code to Forex trading. This is simply B.S. Most, if not all of their data are collected through back-testing or demo testing. I will make this short and simple for you to remember; a system cannot be built on the basis of back-testing only.
Here are some of the points to take into account when investing in a Forex Robot:
- Is the developer a successful Forex Trader (make sure he is well-known and has authority in the Forex arena)
- Has the system been tested on a live account? If yes what are the monthly returns.
- How long has the system been in operation?(2+ years)
Potential monthly return
- The risk to reward ratio.
If all the above questions check out okay then you got yourself a winner.
I spent a lot of money on different Expert Advisors over the many years, and it is fair to say that I lost more money than I made. I nearly gave up on all those worthless expert advisors until the day I was introduced to a product designed by a guy named Ashkan Bolour.
Ashkan Bolour is a highly successful professional Forex trader and a money manager who has featured in well-known trading magazines and books. I started looking around to learn more about Ashkan and his automated trading system.
Wellto cut the story short I never looked back. If you are serious about trading and looking to make some consistent and realistic profit every month with minimum draw-down, Ashkan Bolour's system, the FXprofit Mountain, is highly recommended. This is the only Forex Robot you will ever need.
My trading career begun when, Expert Advisors were becoming popular among the retail traders. The hype and results surrounding those systems were so mind-blowing that I believed Forex would be an easy trading game. I wasted a lot of time and money in search of the best Expert Advisor out there. I bought literally every EA that hit the market. They all promised the sky but in the end I was left with nothing. It took me a while to come to terms that most of those systems were no definite solution to currency trading.
Why use Expert Advisors?
Below are some of the main reasons why traders are attracted to Automated Expert Advisors:
- No emotion involved
- No thinking involved
- More time to relax
- Emotion free
- Easy to use
- No need for experience
- Help documents available
The above, outline the main points why traders seek the use of an Automated Expert Advisor. They do look attractive when put that way; however you should also consider the negative aspects as well.
If you have done your home-work, you would know by now that there are numerous automated Forex providers on the net. They all claim the same thing, to make insane money in no time. Some of their famous selling pitches include:
- Robot turns $1000 into $10000 in matter of days
- No losing Forex Robot that can turn $500 into $5000 in less than a month
- Make $1000 on autopilot every day
- Plug in and make money in a matter of minutes
If all these were true we would all be filthy rich by now and I wouldn't have spent thousands of dollars on useless Expert Advisors that do not work. The reality is that most of those expert advisors are in plain English B.S. The chance of you losing money is much higher than you making money.
If you are reading this article then consider yourself as one of the lucky ones. Do not get me wrong and am definitely not bragging here, I am simply sharing with you the experience I have had, personally, over those 5 years of trading. I am one of the few who will tell you that 98%+ of the Expert Advisors available on the net simply do not work. If they did work don't you think those major financial corporations would use those systems instead of relying on their FX traders?
However, that is not the case. Banks and major financial institutions rely solely on their human minds (traders) to make money day in and day out on the market, not on the so called Robot traders. Those major institutions understand the fact that market conditions are not always in harmony and that price is highly unpredictable.
You must have heard of those mathematicians and engineers coming forward and voicing out the fact that they have cracked the code to Forex trading. This is simply B.S. Most, if not all of their data are collected through back-testing or demo testing. I will make this short and simple for you to remember; a system cannot be built on the basis of back-testing only.
Here are some of the points to take into account when investing in a Forex Robot:
- Is the developer a successful Forex Trader (make sure he is well-known and has authority in the Forex arena)
- Has the system been tested on a live account? If yes what are the monthly returns.
- How long has the system been in operation?(2+ years)
Potential monthly return
- The risk to reward ratio.
If all the above questions check out okay then you got yourself a winner.
I spent a lot of money on different Expert Advisors over the many years, and it is fair to say that I lost more money than I made. I nearly gave up on all those worthless expert advisors until the day I was introduced to a product designed by a guy named Ashkan Bolour.
Ashkan Bolour is a highly successful professional Forex trader and a money manager who has featured in well-known trading magazines and books. I started looking around to learn more about Ashkan and his automated trading system.
Wellto cut the story short I never looked back. If you are serious about trading and looking to make some consistent and realistic profit every month with minimum draw-down, Ashkan Bolour's system, the FXprofit Mountain, is highly recommended. This is the only Forex Robot you will ever need.
About the Author:
To learn more about this amazing Forex robot go to the Forex Expert Advisors section of ForexTradingDomain.com for a review of all the Forex Systems out there.
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