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Other articles in Finance > Currency
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| Automated Forex Trading Software a Scam ??? |
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| Finance > Currency |
| Written by John Ng |
| Thursday, 19 February 2009 19:42 |
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Is a fully automated forex trading system indeed possible? Could it be a path to a new lifestyle? In recent times, many people have flocked to forex trading like bees to a pot of honey hoping to find their dreams. In fact, forex trading or the trading of currencies has now become a huge market of over $3 trillion turnover per day worldwide. With the advent of the broadband to the masses, it has made forex trading now freely accessible to the individual trader through online forex trading. In order to make forex trading easy, without any tedious learning curve as required in the past, new fully Automated Forex Systems now offer robot-driven automatic trading of the forex market. These fully automated forex trading software claim that you can make plenty of money with only a little time invested and without having to know any complicated formulas. But with so many fully automated forex systems available lately, it is essential to be able to determine if a fully automated forex trading system is indeed legitimate or is simply a scam. For me, any fully automated forex software that guarantees easy profits with just a few clicks is likely to be a scam. The forex market is affected by too many random factors making guarantees not reliable. In reality, forex trading is similar to gambling. But what a good fully automated forex software can do, is to increase the odds in your favor. Logically, this alone will make it possible to make money over the long run. A point to bear in mind is that past success is not necessarily an assurance of success in the future for a fully automated forex system. The future and past are not related. Just because there is a fantastic "historical track record" does not guarantee future profit. That is why, legitimate automated forex trading systems will have a disclaimer that there is no guarantee of profits. So the question is always, does a fully automated forex software actually work? Or are they all scams? A fully Automated Forex software is difficult to develop. The sales copies may all lead you to believe it's fairly easy to make money with such systems. The truth is, it's not at all easy. But that's not to say, you can't have success as many traders have proven it is possible. And the best part is you can live anywhere you chose and still trade as long as you have connection to the Internet. I have had some success myself in the last few months. In order to write a successful automated forex software, it requires a lot of skill in not only the currency trade such as in technical analysis but also other topics like calculus and statistics as well, in addition to software writing. But if you can indeed create a good one, you will not only make big profits but it will also save hours of your time. Most trading systems on the market show back-tested results designed to impress us into making a purchase, But the reality about back-tests is that they are often used to deceive the less knowledgeable traders into thinking a trading system is more effective than it actually is. While back-testing is a very powerful tool and helps very much in the creation and testing of trading systems, it's also a fairly complex process that has limitations. The main point here is that testing a software on past data does not always tell you how well it will perform on future data which is why it's important to forward test your forex software with a real money account. Most software sellers don’t do that. But I think you can see it in the FAP Turbo site which shows live rounds on their website. So far, I have not seen any other fully automated forex software that is willing to stand behind their claims like FAP Turbo is doing and it's probably one of the reasons why FAP Turbo has become one of the best selling forex robots. If you wish to read more on fully automated forex trading systems, you can check this website, www.ForexTradingMadeEasy.info |
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