How does an automated forex trading system work?
Aug.31, 2009 in
Forex trading
Cel asked:
Might be nice if someone can simplify how it works. I am also looking for an automated forex trading system too.
Might be nice if someone can simplify how it works. I am also looking for an automated forex trading system too.
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August 14th, 2009 at 12:37 am
You’re chasing a dream that will not work for you… At least right now.
FX automated trading systems (EA’s or robots)…… only work for the highly successful trader whose knowledge of Technical Analysis is matched by years of trading money management skills.
If that’s not you…. forget it.
(It’s hard to understand how some people believe that if they buy a “system” their lives will turn around & they’ll be rich very quickly…….. that’s a dream… it’s not the real world)……..
August 17th, 2009 at 8:21 am
There is no business or method for sale that can automatically make large amounts of profit while you sit back watch. The way to make consistent mony in the forex markets is through hard work, education and experience
August 22nd, 2009 at 12:07 pm
Hi Cel,
Automated forex trading systems (robots) are just a tool. Like any tool their success ultimately depends on the person using it. There are many people that make a ton of money from forex trading, but like nearly everything in life it takes a lot of hard work to be successful. Before you start investing in the forex market I’d recommend that you take the time to learn about how everything works. Don’t let people discourage you, but also don’t invest money before you fully understand the market. There are many companies that offer practice accounts which allow you to experience what forex trading is like without any risk. There are also many free resources online to learn from. I wish you the best of luck!
Regards,
Ben