Before we go any further Forex trading does involve some amount risk and loss will occur no system or software is 100% so let’s get that out the way and this is not suitable for everyone. Also never trade Forex with borrowed money or money you cannot afford to lose. Forex trading must never be considered a hobby, having a hobby means losing money. To trade Forex you do need to find a system and educate yourself. Therefore, if you don’t have a lot of spare time, you need a system or someone to trade for you, but this can be very expensive and sometime not that profitable, but there is an answer to your problem it is automated Forex robots or EAs as there sometimes known, these little Bots take on your risk and do all the trades for you on autopilot they also take away the biggest reason 95% of Forex traders fail “Human Emotion” they trade when they think the market situation is correct, they never “over expose themselves” or get greedy they make trade to make profit and reduce your drawdowns.
But if you’re looking to work less than 20 hours a week from home Kot4x, if you want to make millions trading freely at home using Forex, if you want to have financial freedom by trading the Forex robots will not make you millions, if so everyone would be rich and never work! To make your millions you need to LEARN a Forex trading system, if that does not appeal to you Robots really can make you money but they won’t make you millions over night.
Forex is not gambling or a game of chance: the more basic skills and knowledge you have, the better potential you have of succeeding. FOREX is a known market that is very capable of generating huge profits for those who learn the basics and have good money management and keep to them. The potential in FOREX is huge and the best chance of you capturing your share of this huge market is by properly educating yourself or getting software to do it for you.
So do Forex Robots work and if so what are there any drawbacks?
Forex automated robots or Forex EAs as there sometimes called, are computer designed software to make trades for you on whatever foreign exchange trading platform you are running, most of them run on the Metatrader platform which is free from most brokers. The software places all your trades from start to finish. Forex Automated robots or Forex EAs are fully integrated and fully automated systems that work like a Forex Human trader but they take away all human emotion i.e. risking too much, drawdowns etc. It achieves this almost perfect formula with two things. They never get greedy or afraid. They simply do what software designers have programmed them to do and they only execute trades when the conditions in the market are right to make profit.
Forex automated Robots purpose is solely to make you profit, and while there may be some days where you incur losses, the overall trend should be that your account should be in profit. But before you start buying any old robot and trading on a live account you need to on a demo account there completely FREE and many robots have an option, where you can trade “pretend money” just to make sure that your Forex Robot behaves for you as you would expect it to.
Forex robots are supposed to be automatic money making machines that provide you an easy way to search for profitable trades as well as automate the whole buy and sell process. Forex robot trades with your account looking for daily, short-run opportunities in the FX marketplace some look for longer trades for higher profits, but these attract drawdowns so you need to have your wits about you, trading pretend money is fine, but the emotion of real money is not for everyone!!
So when looking for a Robot to trade you need to find one that caters to your need. You must be careful when looking around so many promise you fantastic wealth over night avoid these!! Look for ones that promise profit but profit that is realistic, the ones that promise fantastic wealth usually do not do so well and most of time will lose you money so beware but remember find a good one and this really will open up a new money making stream doing not a lot!