subject: 3 Important Reasons Why You Should Not Use Automated Forex Trading Robots [print this page] 3 Important Reasons Why You Should Not Use Automated Forex Trading Robots
Over the years, online forex trading has been one of the most popular ways of making money online. This is as a result of the high volatility of the forex market which has a high potentiality for returns as well as high risks. This has made many traders to resort to trading the forex market with automated robots. One cannot deny the fact that a very high percentage of forex traders are making more loses than profits in their trades. This includes those traders using automated forex trading robots to trade.
The fact remains that most of the forex trading robots in the market are a bunch of disappointments and frustrations which have caused so many traders to lost their hard earned money. There are certain reasons why you must not use automated robots to trade. The reasons are outlined below:
For any forex robot to be effective, it has to run on a computer round the clock. You have to leave your computer turned on all day or pay for a VPS (Virtual Private Server) so that the robot can work at its best performance.
Most of the Forex trading robots being sold in the market are written specifically for one certain currency pair only, although there are some that could run on multi-currency pairs. The reason for that is because there is no single mathematical formula that works the best for every currency pair.
Another major reason why you should not use automated forex systems is the absence of intuition and rigidity peculiar to any software. All this being said, I must quickly note here that while it is not advisable to use automated robots to trade the forex market, you may want to consider using a forex trading system that can be manually operated.
To this end, I want to quickly introduce you to a trading system which has been proven to trade profitably and can be manually operated. It is called the Black Dog Forex Trading System . This system is not automated. This sytem can be implemented by scalpers, day traders and swing traders alike. It is easy to understand and implement and can be used on any time frame. I have used this system for more than a year now and it has been profitable for me.
For more information about the Black Dog Forex System and how you can use it profitably visit http://www.forex-systems.co.cc.
