Automated
Forex Trading Robots - do I need one?
The better question is "HOW MANY forex robots do I need?
New to Forex Trading?
If you are new to Forex Trading, then let me
tell you that it’s an exciting and emotions-charged ride.
YOU are a person who is going to plot, plan and
strategise about how the market will twist and turn by the second. And it's YOU who will win or lose by your
efforts. Still interested in Forex trading? Good! It’s not just about the money – it’s the adventure
too.
Robots - Forex trading without one is financial suicide:
Forex markets change with lightning speed and are influenced by a large number of factors.
Information/data is coming in at from many directions. Each snippet of information has its effect. All data
collectively contributes to trading signals. Nothing can be totally ignored.
The roll of the robot is to take into account all of it - with similar lightning
speed.
The trading robot has programmed into it the "what to do" list for every possible trading
signal - based on decades of accumulated trading wisdom. They don't sleep, don't get tired, and trading robots
never get emotional.
The software is remarkably cheap to buy - most sell for around $100. Each is programmed with
decades of trading experience from the most successful forex traders. But no 3 traders have had the exact same
experience. Each will broadly agree with the macro-trends, but each will differ on the smaller points
Do NOT limit yourself to only 1 Forex Robot - buy 3!
Here are a few pointers to help you with
choosing the Forex Trading Robots just for you
Many of these things are common sense. No one buys anything until they trust the
vendor. It's an important decision - so take your time to choose wisely. Nothing is so urgent that you must rush to
decide. Always do your research - which is why you are here. So;
Don't believe the vendors - Take into account everything they say - but
make your own mind up about their honesty. Like everything available for sale, the Forex robot seller always has a
vested interest in getting you buy. Naturally they will promote their benefits and not reveal their
weaknesses. So it's "Caveat Emptor" - meaning "let the buyer beware". You should buy from who you like - but you
should not buy from them because you like them.
Look for the questions not answered - You will have many
questions of the seller - and all of the answers should be on the sales page. If not, then why not? Are they
hiding something? If your question is valid, why has it not been asked and answered before? Contact them directly
to clear up any unanswered questions BEFORE you buy. And look for anything less than a full and frank
answer.
Does it feel right for you? - Every robot is going to
(broadly speaking) do the same thing - but each will have a different look and feel. You and your trading robot(s)
are going to be intimate friends for a long time - you must be happy with the interface. User friendly,
pleasing to the eye and functional is what you need.
Are people making money with it? - If this robot works,
where is the proof? As they quote in the film "Jerry Maguire" - SHOW ME THE MONEY. The vendor must be able to show
you a large list of actual results by the real users of their software.
Customer Service - Ask them a question not answered on their
sales page. Don't be shy - this way you can assess how long it took them to answer it and how well they covered it.
No way will it be better service after they have got your money.
Get it in writing - Again this involves an email, but contact
them with your expectations clearly set out and get them to confirm that their robot meets all your needs. Peace of
mind comes from knowing you will be served well and that all your needs will be met.
Community support - Reputable forex trading robots will
have a large user base. And a user group forum is the perfect meeting place all owners to discuss strategy, help
each other with problems as well as to generally bond with friendship given the comment interests you all have. SO,
where's is their forum and can you be a guest of it before you buy?
Compatibility with other robots - Make no mistake, I definitely
urge you to run 3 trading robots! While 1 is better than none, there can be no better way to succeed than to run at
least 3 forex robots side by side. But can they? Ask the vendor if his robot will clash with the others you are
considering.
Broker relationships - Who are the forex brokers that the
vendor recommends? Why them? Are there any special benefits that you get by joining with those vendor-related
brokers? One robot vendor has negotiated a $500 credit into your trading account. Broker fees and quality vary
widely - so it is something for you to consider and to make your own enquiries about. Your biggest expense with
Forex is not the robot, it is the transaction fees for trading - so fees is an important issue.
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