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Forex Robots - Why Do People Believe They Will Make Money?
It always amuses me that people think these systems will make them rich - pay $100 and make an income for life of course this is just fantasy and the reality? A short sharp equity wipeout. So why do they all fail?
The track records which are supposed to demonstrate how much money they will make you are all made up and normally carry this disclaimer.
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".
Common sense tells you the above does not indicate future profits in anyway and of course if you thought about it before hand, you are not going to get a track record that is one of the best in the world, beating even the super traders, for $100 or so it doesn't make sense. If it looks to good to be true, it probably is and in the case of these forex trading systems the saying is dead right.
Most of these systems are based around hyped advertising copy and sold by affiliates, who write testimonials about how much money there making with it - well if they were making so much money, why sell it?
The reality is forex trading is not easy and you cant make money following these software packages - surprisingly, just like in other areas of life you have to work to make money!
In forex trading this is true to.
You need to get the right forex trading education which can lead you to success.
Sure the rewards are enormous - but you have to work for them. If you take this attitude and learn currency trading the right way you can win, follow a forex robot with a made up track record and you will lose - the choice is yours.
The track records which are supposed to demonstrate how much money they will make you are all made up and normally carry this disclaimer.
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".
Common sense tells you the above does not indicate future profits in anyway and of course if you thought about it before hand, you are not going to get a track record that is one of the best in the world, beating even the super traders, for $100 or so it doesn't make sense. If it looks to good to be true, it probably is and in the case of these forex trading systems the saying is dead right.
Most of these systems are based around hyped advertising copy and sold by affiliates, who write testimonials about how much money there making with it - well if they were making so much money, why sell it?
The reality is forex trading is not easy and you cant make money following these software packages - surprisingly, just like in other areas of life you have to work to make money!
In forex trading this is true to.
You need to get the right forex trading education which can lead you to success.
Sure the rewards are enormous - but you have to work for them. If you take this attitude and learn currency trading the right way you can win, follow a forex robot with a made up track record and you will lose - the choice is yours.