Do Forex robots work? Ever since the first robot was released on the internet 10 years ago, the debate has been raging, and today we still don't have a good answer. Why? Even the best Forex robots stop working after a while, and what most people don't realize is that aren't told what to do to maintain their robots in good working order.
Well, the robot sellers certainly won't teach you. After all, they won't make that much money selling you just the one robot for life, right? So they sell you a Forex robot trader, knowing that it will stop working after a year or two, leading you back to them paying good money for the next upgraded version. I don't know about you, but I'm sick of buying the latest and greatest system out there when I can just maintain my Forex robot trader so that it's in tune with the markets. By the end of this article, you'll know how you can optimize your Forex robot trader so that it will stay fresh and profitable for years to come.
What Exactly Does "Work" Mean?
Have you ever stopped to think what the "Work" in "Do Forex robots work?" means? Well, it stops making money and starts losing you money, right? I'm going to go a little deeper, if that's alright with you, and expose some secrets of the Forex trading systems industry while I'm at it. You see, most robots are built on specific trading strategies which are quantified by certain trading indicators.
For example, and I'm oversimplifying this for illustrations sake, trend trading systems use the EMA and ADX indicators to determine if there is a trend, swing trading systems use the RSI and MACD indicators to determine momentum direction and turning points, and scalping systems flip a coin. Just kidding about that last one, but you get the picture. With all of these indicators, there are certain settings that determine how well they 'fit' the price behaviour, and obviously the better these settings 'fit' with what's actually happening in the markets, the better the trading decisions and trading profits are going to be.
Why Even The Best Forex Robots Break Down
The reason why even the best Forex robots break down after some time is that the original settings of the Forex robot trader no longer fits the existing market conditions. Just as your guitar or piano will go out of tune after some time, even the best Forex robots go out of tune with the markets as well. That's because the Forex markets are constantly changing and evolving based on what's happening all around the world, and it's impossible to have a robot that evolves with them. So what do you do? Well, obviously you wouldn't throw away your guitar or piano when it goes out of tune, and so why go out and buy a new robot when your existing one needs a tune-up?
Well, most people do it because they just don't know that they can! The truth is, you have all the tools you need to regularly tune up and optimize your Forex robot trader so that it's in line with the market. That's right, you don't need to have a degree in software engineering or a Masters in financial modelling to optimize your robot. You just need some specialized knowledge on how to do it, and the Strategy Tester module that comes free with Metatrader 4... which is also free. How good is that?
How To Keep Your Robot Working
Now that you know that you can do your own robot tune-ups, you can go ahead and fire up Metatrader 4 and figure it all out yourself right? Yes, of course you can, but obviously that's going to take you a very long time. If you're like me, you'd much rather keep your sanity and spend your free time on some other more worthwhile pursuits (unless you enjoy learning systems testing and optimization from scratch, in which case go right ahead!)
That's where The Guide To Getting Rich With Forex Robots comes in. Cheesy name aside, The Guide To Getting Rich With Forex Robots (yes, I just had to say it again) covers everything from optimizing your Forex robot trader to keep it in tune with the markets, to creating an even more optimized Forex portfolio to maximize your returns even further. It even has a whole module dedicated to teaching you how to tap into millions of dollars in capital once you've created those lucrative optimized systems, and ramp up your trading profits even more!
Instead of spending hundreds of dollars on the best Forex robots, only to find that they don't work after 6 months, you can save yourself a whole lot of money and even make yourself a whole lot more money just by getting The Guide To Getting Rich With Forex Robots and optimizing your broken robot.