Trading Forex online is one of the best ways to earn extra income nowadays. This is probably the reason there are so many Forex automated trading experts promising extremely profitable trading results. These systems promise up to 500 percent increased returns or 99 percent wining trades. These can be very tempting. I will also be discussing about a high quality Forex software that is making me consistent returns every month.
Although everyone wishes to have financial independence while entering the Forex trade market, it is good to be careful to avoid scams. The high return automated systems are in no way different from managed accounts services that promise up to 25 consecutive profitable trading or marketing systems that claim you can gain financial independence without knowing anything about Forex.
Although the claims laid out by the automated trading experts are not entirely false, it is good to examine how the work in order to establish why you stand a chance to loose. For instance in order for an automated Forex system to attain 500 percent gains within two weeks, there must be a high level of compounding trading accounts. This will compound the potential winnings by increasing the trading lot. However, this also compounds the possibility of losses.
This means that even though it might work, it cannot continue producing the same results week after week. If this was the case, the automated system developer would be the richest Forex trader out there.
With the 99 percent winning trade automated trading system, it might be more complex to spot the downside. Most of these systems operate with no stop loss or a very large stop loss. With such a system, it means the system will not close a trade until it is profitable. The downside is that you keep holding it until the account margins out. This means that one loosing trade is enough to wipe out your whole trading account.
It is clear that most of the Forex automated trading experts always have something up their sleeves. It is therefore important to consider all angles before choosing a certain system as your Forex trading platform. I personally made more than 8 times on my money using a Forex automated trading robot.
