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| | The International Business Network is not currently active and cannot accept new posts | | Forex Robots Can Wipe Out All Your Money | Views: 551 | | Dec 14, 2009 4:02 am | | Forex Robots Can Wipe Out All Your Money | # | 
Marina Bracken | | Forex Robots are the software that helps to predict the trends of software. So you don't have to make effort. You only start the application and the rest work is done by it. It also suggests when to buy and sell and to which currency pair. Therefore a lot of new Forex traders use them to win trading. But the matter does not end there. This is purely not accurate and these robots can destroy the users' accounts. Those traders later feel sorrow over their forex robots. They accuse that their software is not good.
The reason is simple Forex robots are not human beings therefore the analysis made by them based on data may not be accurate. Some Forex trading systems work and we can find them.
If it could be possible to really make huge profit with no effort and only spending a hundred dollars or so, no one would be working but trading.
Forex Robots are offered by the vendor who has a vested interest with no independent authentication. Besides, predictions are made by forex robot either on back tests (knowing the closing prices). And there is no guarantee that the track records will repeat.
It is not easy to predict price movement in the forex markets and simply is on chances based market. In addition, the algorithms in most are not sophisticated at all and are based on unsound logic. So there is little chance of winning.
Money management rules are either absent or place stops within unsystematic volatility which is sure to make a loss.
The only way to trade forex is to get as much as knowledge. For this you do have to know what you're doing, so you can trade with confidence and discipline.
To discover more about it, visit our website at: http://www.forexrobotsystem.org/ Private Reply to Marina Bracken | | |
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