This is the million dollar question for so many traders out there looking to automate their trading systems.
My early days of trading were spent searching the net for the best Expert Advisor out there. I got caught up in this never ending search for the "holy-grail" trading system and believe me I wasted a lot of time and money in the process. I wish I could go back in time and change some of the decisions I made but you learn from your mistakes and as long as you do not repeat those same mistakes again you are on the right track.
Why use Expert Advisors?
These are the main points why traders use EA's:
- System is on autopilot
- No thinking involved
- More time to relax
- Easy to install and use
- Doesn't require constant monitoring
- No experience required
- Help documents available
As a trader, those are the benefits you will be exposed to having an Expert Advisor trading on auto-pilot. Those are great features indeed but not so great when you take into account the negative side of it. The fact is that more that often Expert Advisors do not deliver on their original promise leaving your trading capital in ruin.
If you've already done some research I doubt you will be surprised if I told you that there are thousands of automated currency providers on the net. They all seem to perform extremely well when you have a look at their performance page. Here are some of their most common sales pitches:
- Make a killing trading with this robot
- Robot with a 98% success rate
- Make $1000 on autopilot every day
- Plug in and make money in a matter of minutes
All those sound great to the new comers looking for a mean to make some quick and easy cash, but sadly the reality is that many of them end up losing their hard earned money in the process. Those systems that supposedly can make you thousands of dollars in no time are more than likely going to help you lose money in a relatively short amount of time.
If you have stumbled across this article before making any purchase consider yourself as being lucky. I am among the few people out there that will tell you the truth about Expert Advisors. Most expert advisors are just a waste of money. They don't and will never work. If they did, all the major Banks and Hedge Funds would sack their entire FX department and use those robots instead.
However, that is not the case. Banks and major financial institutions rely solely on their human minds (traders) to make money day in and day out on the market, not on the so called Robot traders. Those major institutions understand the fact that market conditions are not always in harmony and that price is highly unpredictable.
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?
Here are some of the points to take into account when investing in a Forex Robot:
- Who developed the system? (make sure he/she is a well-known Forex trader with substantial experience in Forex trading)
- How long has the system been in use? (at least 2 years)
- 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.
In my early days, I spent a considerable amount of money searching for the right expert advisor. To cut a long story short I ended up with less money than what was promised by the people selling those robots. I hit rock bottom at that stage and nearly gave up on those so called Expert Advisors when a veteran trader I knew advised me to try a product designed by a guy named Ashkan bolour.
Ashkan Bolour is a highly successful professional Forex trader and a money manager who has featured in well-known trading magazines and books. I started looking around to learn more about Ashkan and his automated trading system.
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.
My early days of trading were spent searching the net for the best Expert Advisor out there. I got caught up in this never ending search for the "holy-grail" trading system and believe me I wasted a lot of time and money in the process. I wish I could go back in time and change some of the decisions I made but you learn from your mistakes and as long as you do not repeat those same mistakes again you are on the right track.
Why use Expert Advisors?
These are the main points why traders use EA's:
- System is on autopilot
- No thinking involved
- More time to relax
- Easy to install and use
- Doesn't require constant monitoring
- No experience required
- Help documents available
As a trader, those are the benefits you will be exposed to having an Expert Advisor trading on auto-pilot. Those are great features indeed but not so great when you take into account the negative side of it. The fact is that more that often Expert Advisors do not deliver on their original promise leaving your trading capital in ruin.
If you've already done some research I doubt you will be surprised if I told you that there are thousands of automated currency providers on the net. They all seem to perform extremely well when you have a look at their performance page. Here are some of their most common sales pitches:
- Make a killing trading with this robot
- Robot with a 98% success rate
- Make $1000 on autopilot every day
- Plug in and make money in a matter of minutes
All those sound great to the new comers looking for a mean to make some quick and easy cash, but sadly the reality is that many of them end up losing their hard earned money in the process. Those systems that supposedly can make you thousands of dollars in no time are more than likely going to help you lose money in a relatively short amount of time.
If you have stumbled across this article before making any purchase consider yourself as being lucky. I am among the few people out there that will tell you the truth about Expert Advisors. Most expert advisors are just a waste of money. They don't and will never work. If they did, all the major Banks and Hedge Funds would sack their entire FX department and use those robots instead.
However, that is not the case. Banks and major financial institutions rely solely on their human minds (traders) to make money day in and day out on the market, not on the so called Robot traders. Those major institutions understand the fact that market conditions are not always in harmony and that price is highly unpredictable.
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?
Here are some of the points to take into account when investing in a Forex Robot:
- Who developed the system? (make sure he/she is a well-known Forex trader with substantial experience in Forex trading)
- How long has the system been in use? (at least 2 years)
- 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.
In my early days, I spent a considerable amount of money searching for the right expert advisor. To cut a long story short I ended up with less money than what was promised by the people selling those robots. I hit rock bottom at that stage and nearly gave up on those so called Expert Advisors when a veteran trader I knew advised me to try a product designed by a guy named Ashkan bolour.
Ashkan Bolour is a highly successful professional Forex trader and a money manager who has featured in well-known trading magazines and books. I started looking around to learn more about Ashkan and his automated trading system.
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.
About the Author:
To learn more about FXprofit Mountain and its amazing results go to the Forex Expert Advisors section of Forex Trading Domain for a review of all the Forex Systems that actually work!
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