Is Forex Autotrading Actually Profitable?

 

Many traders are curious whether people can actually be profitable using forex autotrading.  I hate to be the person to crush all these dreams that some people may have, by saying no, they cannot be profitable.  I speak from experience when I say this, because when I first started trading I must have tried every forex autotrading system that was around.

I honestly thought that forex autotrading was like the holy grail of trading.  It was supposed to be the path to becoming rich without actually doing any of the work.  Like many young traders, I envisioned myself making millions of dollars while I was laying on the beach somewhere.

After I gained more experience in trading, I realized how ridiculous this was.

The thing that should be most obvious about forex autotrading systems is the fact that they provide absolutely no insight to the market.

Think about all the big financial and economical news that comes out every single day. When you've got news like Nonfarm Payroll, Interest rate decisions, Unemployment  rates, etc..... happening, do you really expect a inanimate object like these forex autotrading packages to be able to decipher  news like that, and determine when to buy and sell.

With all this prevalent information going on, your forex autotrading robot will keep on trading like nothing even happened if the key was to learn how to day trade forex.  Doesn't that seem really risky to you?  That is a real quick way to destroy your account in a hurry.

It eventually dawned on me, if I wanted to have success, I better be prepared to really learn forex trading instead of relying on some shortcut like forex autotrading.  There aren't very many traders who are making money in this market without knowing what you are actually doing.

So take the time to really learn and comprehend what makes the market tick.  The best thing you can do is just get back to the basics and think less is more. No more gadgets, tricks, toys, or any other "holy grail" tools.                             

 

 Forex-Trading-Education

 

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