How Do We Know That A Forex Robot Is A Scam
Unfortunately there are a lot of Robots out in the marketplace which are just that
, SCAM. It is sometimes difficult to ascertain which one is just that.
My thoughts on this always are to be wary of the outrageous claims.Check them out for Support, read the reviews on the various Forex Trading Forums. Mind you, you need to be careful here, as the unscrupulous may well have already placed numerous great appraisals on the forum using bogus contact details.
I am a great believer in Forex Robots, in the past I have traded Eminis and the Forex market manually. I have had success doing this, but I must admit I have just become tired of watching a computer screen all the time.
Then missing the trade because I was tired, lost focus, went for lunch etc. Those who have traded this way will understand what I mean here.
I believe that there are about 6 to 10 Forex Robots worthy of consideration. Of course they put up impressive websites, and give the Sale Patter, but those that I am comfortable with can be forgiven.
It is after all a Commercial World that we live in and if they did not act in this manner then they would be swamped by all the other Forex Robot vendors. What should we look for!
a)Good results. Even impressive
b)Support
c)Money back guarantee.
I am sure there are other items to look for but that will suffice for now. I have found that a combination of 2 or 3 of the best Robots is the way to go. Let them run demo for a little while and then go live.
Do not, although I have been an offender of this in the past, interfere with the trading. The temptation always remains to Take Profit manually and let the Stop Losses run automatically.
The robot must run on its own, and the only manual input should be evaluation at 24 hours, and weekly. If the profits are in place, then the only decision is to whether to increase the lots or not.
All Robots will have the occasional bad run. The trading market is not always predictable or stable. It can have periods of great volatility.
Not to worry, let the Robot run on Automatic. I have pulled the plug in the past when there is a succession of losses, only to see the market recover.
Then there is a string of winning trades which would have cancelled the previous losses and shown a handsome profit. My suggestion is pick 1 or 2 of the well known Forex Robots, try them out. They will honour a money back situation if you are not satisfied.
Steer clear of those that are suspect. Some signs of this will be poorly laid out websites, or maybe overly flashy websites and nonsense promises of an endless supply of money On Tap.
It is an exciting area to be involved in, one which I enjoy very much. Forex Robots have relieved me of the constant screen watching, the reminiscing and regret over the trade that I should have taken.
It has allowed me to spend time writing articles, setting up websites, and other challenges. Ignore the Scams as best you can, and just get out there and enjoy Forex Trading
by: Peter Froggatt
Learn The Right Way To Build Your List With Article Marketing Are You Confused Or Do You Compare Markets? A Review Of The Fern Inc. Network Marketing Company A Review Of The Mondelis Network Marketing Company Spice Up The Marketing Mix With Digital Out-of-home Media Replica Rolex Air King Watches Humour & The Marketing Relationship: Its Viral* Restaurant Equipment - Cleaning Maintenance And Upkeep Make Money Quick With Google Adsense. Making Promotional Gift Purchase Nonwoven Bags Are Best Choice For Promotional Items Free Twitter Tools! - 2 Affiliate Marketing Secret, Protect Your Affiliate Links