This is the million dollar question for so many traders out there looking to automate their trading systems.
My early days of trading were spent searching the net for the best Expert Advisor out there. I got caught up in this never ending search for the "holy-grail" trading system and believe me I wasted a lot of time and money in the process. I wish I could go back in time and change some of the decisions I made but you learn from your mistakes and as long as you do not repeat those same mistakes again you are on the right track.
What makes Expert Advisors so attractive?
These are the main points why traders use EA's:
- No stress
- No sitting in front of the PC the whole day long looking for the right set-up
- Stress free
- Emotion free
- Easy to install
- No experience required
- Improve trading system
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
- Robot with a 98% success rate
- Make a ton of Money with no experience
- Plug in and make money in a matter of minutes
If half of the above were true I would be sitting on a nice beach as we speak enjoying the sun and sipping on a cocktail, however, here I am sharing with you my experiences about automated expert advisors. Systems that promise to make you thousands overnight or 500%+ return per month are simply B.S. You are more likely to lose than actually make money.
If you have stumbled across this article before making any purchase consider yourself as being lucky. I am among the few people out there that will tell you the truth about Expert Advisors. Most expert advisors are just a waste of money. They don't and will never work. If they did, all the major Banks and Hedge Funds would sack their entire FX department and use those robots instead.
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.
Forex robots are many a time designed my mathematicians or engineers who believe they cracked the code to Forex trading. Well no offence to them but if they have already cracked the code, why am I still not profitable. You see the nature of the Forex market is such that changes in market conditions cannot be predicted. This is due to news, catastrophes, political changes etc Do you believe those robots can take all those changes into account?
The following are some of the major points you need to clear out if you are thinking of purchasing 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 use?(2 years minimum)
Potential monthly return
- Maximum draw-downs on each trade.
If all the above questions are ticked then you got yourself a potential winner.
In my early days, I spent a considerable amount of money searching for the right expert advisor. To cut a long story short I ended up with less money than what was promised by the people selling those robots. I hit rock bottom at that stage and nearly gave up on those so called Expert Advisors when a veteran trader I knew advised me to try 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. - 22871
My early days of trading were spent searching the net for the best Expert Advisor out there. I got caught up in this never ending search for the "holy-grail" trading system and believe me I wasted a lot of time and money in the process. I wish I could go back in time and change some of the decisions I made but you learn from your mistakes and as long as you do not repeat those same mistakes again you are on the right track.
What makes Expert Advisors so attractive?
These are the main points why traders use EA's:
- No stress
- No sitting in front of the PC the whole day long looking for the right set-up
- Stress free
- Emotion free
- Easy to install
- No experience required
- Improve trading system
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
- Robot with a 98% success rate
- Make a ton of Money with no experience
- Plug in and make money in a matter of minutes
If half of the above were true I would be sitting on a nice beach as we speak enjoying the sun and sipping on a cocktail, however, here I am sharing with you my experiences about automated expert advisors. Systems that promise to make you thousands overnight or 500%+ return per month are simply B.S. You are more likely to lose than actually make money.
If you have stumbled across this article before making any purchase consider yourself as being lucky. I am among the few people out there that will tell you the truth about Expert Advisors. Most expert advisors are just a waste of money. They don't and will never work. If they did, all the major Banks and Hedge Funds would sack their entire FX department and use those robots instead.
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.
Forex robots are many a time designed my mathematicians or engineers who believe they cracked the code to Forex trading. Well no offence to them but if they have already cracked the code, why am I still not profitable. You see the nature of the Forex market is such that changes in market conditions cannot be predicted. This is due to news, catastrophes, political changes etc Do you believe those robots can take all those changes into account?
The following are some of the major points you need to clear out if you are thinking of purchasing 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 use?(2 years minimum)
Potential monthly return
- Maximum draw-downs on each trade.
If all the above questions are ticked then you got yourself a potential winner.
In my early days, I spent a considerable amount of money searching for the right expert advisor. To cut a long story short I ended up with less money than what was promised by the people selling those robots. I hit rock bottom at that stage and nearly gave up on those so called Expert Advisors when a veteran trader I knew advised me to try 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. - 22871
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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