Avoid the pitfalls of forex trading robots

[Nadilapars]

Forex trading robots have become a popular tool in the personal forex market. They’re often attractively priced and are marketed as ‘Expert Advisors’ that can operate on many of the favoured trading platforms. However, an increasing number of traders have been left disappointed with the purchase of their automated forex trading program that ends up performing well below expectations, which leaves them feeling cheated and even results in claims of fraud.

Sold on profitsAnybody with a product to sell will focus on the product’s most attractive features to get you to buy it, and that is especially true about automated trading products. Often, they’re presented as offering the path to financial freedom and being easy to use; claims that are backed up by historical trading profits and glowing testimonials from seemingly satisfied users. In reality, the evidence of their success is just a small sample of trading when the software enjoyed a profitable spell and leaves out the less impressive other periods which more accurately reflect its true capabilities and how it performs for most of the traders who buy it.

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may be useful for all of us

[Gee Dee]

To help the busy forex trader to get connected with the counter parties many brokers are offering the faculties of robot trading system. And a trader will get the opportunities to trade with the use of coded software whenever he remains busy. But the disadvantage is: when the market moves suddenly in the pessimistic direction a robot won’t not be able to judge the situation as like as human and it may end up with wrong decisions.

[Sininfinity]

I myself never believed in a piece of code which will trade on behalf of me. I have always relied on my own and even though I have tested robots but never traded live with them.

[Vaabum]

To be honest, I don't like robots for work at all. More successfully - to control the work manually.

[Dora Wi]

I think robots can be good if you have the skills to manage them yourself. With no programming skills and little experience it can be very risky to use a robot made by someone else.

[Vaabum]

To be honest, I could not appreciate all the advantages of such robots. I liked trading by hand much more.

[FXOpen Trader]

On 9/28/2022 at 1:52 PM, Vaabum said:

To be honest, I could not appreciate all the advantages of such robots. I liked trading by hand much more.

We need to learn trading using the Manual systems.