Automated Forex Day Trading – Don’t Believe the Lies of Automated Trading
Creztor Tessel asked:
Automated Forex day trading seems to be the holy grail of trading. The promise of being able to simply press a button and let some software or a computer do all the trading for you while you sleep makes anyone excited. Unfortunately, these kinds of claims are usually nothing more than extremely exaggerated or outright lies. These automated trading packages are typically nothing more than marketing scams.
The main reason these automated Forex day trading systems are usually scams is because the Forex market is constantly changing. The software vendors typically build their systems using previous data, meaning market data from yesterday or last month or last year. What this means is that they build a system that works great if you could replay history. The problem is that you aren’t replaying history, you are moving forward trading markets which contain prices and information that the trading system has never seen before. The end result is that these systems look great on paper when you look at how much they earned over the last year, but as soon as you begin testing them live, you quickly see them explode and blow up.
Another reason why automated Forex day trading claims are usually scams is because if a system was ever developed that was completely automated and could trade the markets for you without having to do anything, then why would anyone sell such a system? These kinds of trading systems would turn the Forex market into your personal ATM, being able to extract an almost unlimited amount of money when you wanted. It is highly unlikely that anyone, you or me, would ever want to sell a system like this for a couple of hundred dollars when you could make billions if it truly worked as claimed.
If you want to start trading, avoid automated Forex day trading and begin by learning the basics of training. Doing this might sound difficult but if you want to really learn, understand and make money from trading, it is perhaps the best thing anyone new to trading could embark on.
Duane
Automated Forex day trading seems to be the holy grail of trading. The promise of being able to simply press a button and let some software or a computer do all the trading for you while you sleep makes anyone excited. Unfortunately, these kinds of claims are usually nothing more than extremely exaggerated or outright lies. These automated trading packages are typically nothing more than marketing scams.
The main reason these automated Forex day trading systems are usually scams is because the Forex market is constantly changing. The software vendors typically build their systems using previous data, meaning market data from yesterday or last month or last year. What this means is that they build a system that works great if you could replay history. The problem is that you aren’t replaying history, you are moving forward trading markets which contain prices and information that the trading system has never seen before. The end result is that these systems look great on paper when you look at how much they earned over the last year, but as soon as you begin testing them live, you quickly see them explode and blow up.
Another reason why automated Forex day trading claims are usually scams is because if a system was ever developed that was completely automated and could trade the markets for you without having to do anything, then why would anyone sell such a system? These kinds of trading systems would turn the Forex market into your personal ATM, being able to extract an almost unlimited amount of money when you wanted. It is highly unlikely that anyone, you or me, would ever want to sell a system like this for a couple of hundred dollars when you could make billions if it truly worked as claimed.
If you want to start trading, avoid automated Forex day trading and begin by learning the basics of training. Doing this might sound difficult but if you want to really learn, understand and make money from trading, it is perhaps the best thing anyone new to trading could embark on.
Duane
Forex Trading Recommendations
