If there is one aspect of trading that is
completely overblown it would definitely have to forex trading bots. There is nothing that
comes close to the overblown hype of these automated forex trading systems.
One could hardly blame traders for being so addicted to
forex trading bots. After all, who wouldn't love the idea of having a piece of software
that automatically trades for you, while you can just live your life.
Ah.... the dream. The problem is that its
completely disingenuous. Every seller that is promoting these trading robots know that
they have almost zero chance of long term success.
You ever stopped and wondered why 95% of forex
traders end up losing money? It's because of myths like forex trading bots. Traders
want the easy way out, as if the market was some get rich quick scheme.
Let me put it as bluntly as I can: The markets
cannot be traded on autopilot, at least not successfully. That may disappoint many people but
I think you deserve to know the truth because you are not going to hear it from too many
Also, if you can't dedicate the kind of time needed
for trading, then please don't. Because no matter what all these
people who are selling forex trading bots will tell you, there are no shortcuts in
If you want success in forex trading, then its no
different than any other field. You will need to properly learn
forex. Contrary to many myths, there is no special button to push that will
instantly bring in the pips.
The markets cannot and will never be that
"programmable". If you think I'm just being negative about this, then I encourage you to
do your own research on forex trading bots.
Go to any forex forum and see for yourself. You
will find countless threads on the forums about forex trading bots. You'll see that the vast
majority of them don't have any success on demos. The ones that do, NEVER have success when
it's traded with real money. Check it out for yourself. There are countless advantages to price action.