Forex robots, expert advisors: how do they work? Should one buy it?
hey, have you guys heard about fabturbo robot. I would like to know more about forex robot: basicly what it does, how it makes money for your while your computer off.. I am new to forex market and i would like to learn more about forex robot.. if you could tell me what you think would be very nice..
There are thousands upon thousands Forex trading robots nowadays. Forex robot is called an "expert advisor". It is a program, as a rule created for Metatrader 4 Forex platform, which is able to execute buy and sell orders, set stops, trail stops, take profits automatically without trader's intervention.
What you basically do with a robot, you upload it to your trading platform directory, open a live (or demo if you want to test it) account and enable the robot. That's it. You can then go away from the charts and the robot will manage your trading account - trade for you.
This all sounds very good and why not, but there is a dark side of this too. First of all, there is no guarantee that the robot you bought will make profits, it can lose all your money too. You can spend thousands on Forex robots, try hundreds of them and still earn no money...
The Forex industry is very tough, mainly because it evolves around finance. People always wanted to be able to make EASY money. Forex field became an easy field for scammers. They would come promising big profits, showing testimonials from other customers - they would do all it takes to sell own product.
We don't want to make you think there is no truth in Forex and scammers are everywhere, we will simply tell you one fact and you can make own conclusions:
"Why someone would ever sell a system, or even better - a robot, which is able to pull huge profits? Why bother with sales and customers if your trading robot is making thousands or millions for you month after month? Why share it for a couple of hundred or even a thousand dollars with others?"..
We've heard about fabturbo robot, but none of us have ever tried it or heard anyone who tried it. It is all up to you how you approach Forex trading. Just remember, there is no easy money in Forex, like in any industry we know, otherwise every single person would already be a millionaire...
We hope you understood our point, if it was a bit rough, we're very sorry, we just wanted to show you the real face of Forex and the real situation behind Sales of various trading systems, strategies, robots etc.