Automated Expert Advisors (EAs) Are They Worth Considering?
This is the million dollar question for so many traders out there looking to automate their trading systems.
My trading career begun when, Expert Advisors were becoming popular among the retail traders. The hype and results surrounding those systems were so mind-blowing that I believed Forex would be an easy trading game. I wasted a lot of time and money in search of the best Expert Advisor out there. I bought literally every EA that hit the market. They all promised the sky but in the end I was left with nothing. It took me a while to come to terms that most of those systems were no definite solution to currency trading.
Why use Expert Advisors?
Below are some of the main reasons why traders are attracted to Automated Expert Advisors:
- System is on autopilot
- Less emotion
- Free up more time
- Less stress
- Doesn't require constant monitoring
- No thinking required
- Help documents available
The above, outline the main points why traders seek the use of an Automated Expert Advisor. They do look attractive when put that way; however you should also consider the negative aspects as well.
There are thousands of automated Forex providers on the net nowadays. This number is increasing day by day and funnily enough they all seem to have insane winning rate some even with a 100% success rate (hmmm). The common sales pitches used by those providers are:
- Robot turns $1000 into $10000 in matter of days
- Robot with a 98% success rate
- Make a daily $500 on autopilot
- Robot with 100% success rate turns $100 to $1000 in a month
If all these were true we would all be filthy rich by now and I wouldn't have spent thousands of dollars on useless Expert Advisors that do not work. The reality is that most of those expert advisors are in plain English B.S. The chance of you losing money is much higher than you making money.
I do hope you are lucky enough to have come across this article before making any hasty decisions in purchasing a Forex Robot that promises to make you 500%+ return a month. If such a robot existed all the major banks and financial institutions would sack their FX traders and use those systems instead. They will save a colossal amount of money on man power and on top of it all will be making astounding returns every month.
The fact is that banks and the big institutions rely heavily on their currency traders to take advantage of the Forex market. They understand that the currency market is way too unpredictable and volatile to allow a robot to be in control. Market conditions change all the time and the only way to adapt to those changes is to have a human mind in control. A robot for instance cannot bend the rules and thus does not cope well if conditions of market changes violently.
Forex robots are many a time designed my mathematicians or engineers who believe they cracked the code to Forex trading. Well no offence to them but if they have already cracked the code, why am I still not profitable. You see the nature of the Forex market is such that changes in market conditions cannot be predicted. This is due to news, catastrophes, political changes etc Do you believe those robots can take all those changes into account?
The following are some of the major points you need to clear out if you are thinking of purchasing a Forex robot:
- The back ground of the developer (make sure the developer is a successful Forex trader and not another engineer or mathematician claiming they have cracked the Forex code)
- Has the system been tested on a live account? If yes what are the monthly returns.
- How long has the system been in operation?(2+ years)
- Monthly ROI
- Maximum draw-downs on each trade.
If all the above questions are ticked then you got yourself a potential winner.
I have spent a large sum of money over the years trying all sorts of Forex robots. The result was that I lost as much hair as I lost money! Quite frankly, I was quite disgusted with all those Experts advisors until the day I came across a guy named Ashkan Bolour.
At this point I had no clue who this guy was, so after some research I came to know that he was a highly respected and successful Forex trader. He had featured in many trading shows and books and was a veteran money manager. He had an automated system that had good reviews and which seemed fairly priced. So I decided to give it a shot.
Wellto cut the story short I never looked back. If you are serious about trading and looking to make some consistent and realistic profit every month with minimum draw-down, Ashkan Bolour's system, the FXprofit Mountain, is highly recommended. This is the only Forex Robot you will ever need. - 23221
My trading career begun when, Expert Advisors were becoming popular among the retail traders. The hype and results surrounding those systems were so mind-blowing that I believed Forex would be an easy trading game. I wasted a lot of time and money in search of the best Expert Advisor out there. I bought literally every EA that hit the market. They all promised the sky but in the end I was left with nothing. It took me a while to come to terms that most of those systems were no definite solution to currency trading.
Why use Expert Advisors?
Below are some of the main reasons why traders are attracted to Automated Expert Advisors:
- System is on autopilot
- Less emotion
- Free up more time
- Less stress
- Doesn't require constant monitoring
- No thinking required
- Help documents available
The above, outline the main points why traders seek the use of an Automated Expert Advisor. They do look attractive when put that way; however you should also consider the negative aspects as well.
There are thousands of automated Forex providers on the net nowadays. This number is increasing day by day and funnily enough they all seem to have insane winning rate some even with a 100% success rate (hmmm). The common sales pitches used by those providers are:
- Robot turns $1000 into $10000 in matter of days
- Robot with a 98% success rate
- Make a daily $500 on autopilot
- Robot with 100% success rate turns $100 to $1000 in a month
If all these were true we would all be filthy rich by now and I wouldn't have spent thousands of dollars on useless Expert Advisors that do not work. The reality is that most of those expert advisors are in plain English B.S. The chance of you losing money is much higher than you making money.
I do hope you are lucky enough to have come across this article before making any hasty decisions in purchasing a Forex Robot that promises to make you 500%+ return a month. If such a robot existed all the major banks and financial institutions would sack their FX traders and use those systems instead. They will save a colossal amount of money on man power and on top of it all will be making astounding returns every month.
The fact is that banks and the big institutions rely heavily on their currency traders to take advantage of the Forex market. They understand that the currency market is way too unpredictable and volatile to allow a robot to be in control. Market conditions change all the time and the only way to adapt to those changes is to have a human mind in control. A robot for instance cannot bend the rules and thus does not cope well if conditions of market changes violently.
Forex robots are many a time designed my mathematicians or engineers who believe they cracked the code to Forex trading. Well no offence to them but if they have already cracked the code, why am I still not profitable. You see the nature of the Forex market is such that changes in market conditions cannot be predicted. This is due to news, catastrophes, political changes etc Do you believe those robots can take all those changes into account?
The following are some of the major points you need to clear out if you are thinking of purchasing a Forex robot:
- The back ground of the developer (make sure the developer is a successful Forex trader and not another engineer or mathematician claiming they have cracked the Forex code)
- Has the system been tested on a live account? If yes what are the monthly returns.
- How long has the system been in operation?(2+ years)
- Monthly ROI
- Maximum draw-downs on each trade.
If all the above questions are ticked then you got yourself a potential winner.
I have spent a large sum of money over the years trying all sorts of Forex robots. The result was that I lost as much hair as I lost money! Quite frankly, I was quite disgusted with all those Experts advisors until the day I came across a guy named Ashkan Bolour.
At this point I had no clue who this guy was, so after some research I came to know that he was a highly respected and successful Forex trader. He had featured in many trading shows and books and was a veteran money manager. He had an automated system that had good reviews and which seemed fairly priced. So I decided to give it a shot.
Wellto cut the story short I never looked back. If you are serious about trading and looking to make some consistent and realistic profit every month with minimum draw-down, Ashkan Bolour's system, the FXprofit Mountain, is highly recommended. This is the only Forex Robot you will ever need. - 23221
About the Author:
To see this system in action go to the Forex Expert Advisors section of Forex Trading Domain for a review of all the Forex Systems.
posted by X - Men @ 2:19 AM
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