Do automated forex trading systems work?
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11 Responses to “Do automated forex trading systems work?”
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November 16th, 2008 at 6:41 pm
You might find this helpful:
To answer your question. Yes these systems are proven to work. Some people like to use them as advisory tools, and some use them on autopilot. It’s your choice, but be sure to choose the right system. I’d recommend the ones on that site.
November 16th, 2008 at 9:54 pm
No, it only works for people who have tons of money and profit from very small spreads.
November 17th, 2008 at 6:56 am
No. The only reason you are interested is that these schemes are heavily promoted. Forex is just another commodity. You might equally be interested in commodities such as gold, cotton, or eggs.
Many forex brokers advertise commission free service. They profit with the bid/ask spread, but their spread is larger than traditional commodity firms, which charge a commission. Pros prefer paying a commision to the free brokers.
I highly suspect your first responder is a scam. I’d be wary of taking his links. This YA category is filled with more scams than any other category I know of.
November 20th, 2008 at 4:05 pm
Some of them work.
November 20th, 2008 at 4:43 pm
sure IF YOUR LUCKY!!!!!
November 21st, 2008 at 2:31 pm
Forex trading-http://tradingsforex.info/
November 23rd, 2008 at 6:14 am
no, of course not.
think about it:
if you had developed a program that could reliably make you good returns, would you let the entire world have it for $20 a month, or would you keep it to yourself and make a few million a year?
November 24th, 2008 at 1:13 am
I’m not sure if they work, I haven’t tried it myself.
Some say that they work so well that if the online broker finds out that you are using one, they will close your account–no questions asked.
You will find a lot of information on the internet saying that they work, but you will find that the ones claiming that they do make money are the sites that are promoting them.
If you go to trading forums such as elitetrader.com, moneytec.com or trade2win.com, you will find that the more successful and consistent trader still do it the old fashioned way. They do their own analysis, and decision when to trade and when not to trade. If they do use something to automate their trading, they make sure that they are on top of the situation, and understand how that system works.
If you want to try one out, be very careful. Some may say they have money back guarantee if you are not happy with their bots, but these guarantees have impossible conditions to be met before you get your money back.
Hope my input helps.
- Jim Syyap, Managed Forex Accounts
November 25th, 2008 at 9:45 am
I would be careful about which forex systems you look into buying because there’s a lot of scams out there which you can get burnt from.
I would suggest taking a look at some reviews before you make any decisions because some of the systems you’re going to see are less than satisfactory (no matter what the site suggests).
When I was looking for a Forex system, I found which has reviewed all the top forex systems and given them HONEST and UNBIASED reviews based on actual customer comments online.
For me, reading what they had to say made parting with my cash a no-brainer.
Hope this helps?
November 25th, 2008 at 4:04 pm
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November 28th, 2008 at 9:37 am
I have bought a few autopilot systems and so far they do seem to give a slight edge to the results.
The one that I had the best results was Forex Raptor Software trading system. Forex Raptor made me some money on autopilot.