GoMega Review

The Correlation Code

admin — Thu, 15 Oct 2009 12:39:17 +0000

The Correlation Code Scam

The Forex Correlation Code is the newest product from ForexImpact.com. Relationship is a little accepted idea when it comes to forex trading. The movement of certain forex pairs correlated with each to varying extends. The most blatant example would be the correlation ( negative correlation ) between the EURUSD and the USDCHF. With a mean of about 90% negative correlation ( written as -0.9 ), the USDCHF would go up when the EURUSD goes down about 90% of the time.

Correlation doesn’t only happen between currency pairs. There are othe very obvious correlations obvious in the market. The JPY pairs often correlate with the US equities market, and the CAD often correlates with the oil cost. These are some examples of a huge amount of others.

With The Correlation Code you will not only be able to identify these correlations and thus profit from them, but The relationship Code also makes it feasible to create manmade pairs out of these correlations that are fully new to the market and very rewarding.

Forex Impact The Forex Correlation Code

Trading in the market doesn’t occur in a vacuum. This mantra is applicable to all investment markets ; the common suspects like stocks and commodities, but also forex. There are a variety of events in any given environment that would affect the values items in any of these markets. The phenomenom we are looking at here though has to do with the effects the markets have on each other. Understanding these correlations will help you be more profitable at forex Trading.

Big Investment people always talk about widening your portfolio. The idea is not to put all your eggs in one basket so you can keep going in case on thing doesn’t work out so well. You also hear about hedging. It’s an interesting system that involves taking a position in one market that is opposite to one taken in another market to offset any exposure to major risk…in a nutshell. One might look at this and work out that the net result would be 0, but savvy stockholders glaringly expect to get out of the losing position quickly, and stay in the winning position for longer.

All the above can be applied to the fx trading Market. I personally don’t have an Account that permits me to invest in stocks or oil, but I am able to apply the trades I may have made in either of these markets to my foreign exchange trading. An easy example is the correlation between commodities and Australian dollar, New Zealand dollar and the Canadian Dollar. The the case of the Canadian Dollar, rising Oil costs help to increase it’s price against the buck. This happens because Canada is one of the planet’s largest producers of Oil. It’s also the biggest supplier of Oil to it’s more popular neighbour, America. When Oil is on the rise, it is good for Canada, the maximum amount of Canada’s Economy relies on it. On the other hand, rising Oil prices aren’t so good for the US, also because lots of the US Economy depends on it. Dear Oil so tends to have a negative effect on US stocks. The final result is, you can trade the US Dollar/Canadian buck currency pair supplied with this information.

One can extend this to other currency pairs. You can do some mix and matching as well . Rising Gold has a tendency to be good for the Australian dollar and bad for the US dollar, so one can buy the Australian Currency against the Dollar under such circumstances. Also, when US equities are doing well, the Dollar has a tendency to gain on the Japanese Yen because folk would sell the Yen for greenbacks so they can buy US Based Assets which offer a high rate of Interest than Japan.

The thing to mention here is that this correlation is not comprehensive. There are times when it just will not hold, when more important factors are at work,eg in a time of Economic struggle when predictability in the markets reduces and everyone seems to be scared. These correlations will generally reverse at a moments notice without much alert. This was the case in January 2009, when Gold and the dollar began to move up at the same time. Some wierdos claim that there isn’t any basis for the correlation between the dollar and Gold, for instance. Still, correlations like this can be quite useful. As a forex Trader, you’ve got to make use of all tools that come your way. I believe there are times when it’s best to go with the established trends. Like any other situation, the trader needs to be constantly vigilant and be aware of the surroundings. As long as you manage your risks accordingly, you will be in a position to stay in good shape, irrespective of what occurs.

Correlation Code Scam

There are a large amount of things occurring in the sector of the forex market at any given point. Traders in this fiscal market know that to become successful, they should get a grasp of all these things. This is the issue when it comes to forex for beginner as she or he can simply get lost with all of the info and everything that is going on. So before starting on this journey of trading foreign currencies to attempt to earn a profit, what should you know? What are the essentials?

First and foremost, you must find out about what the currency exchange market is about, discover how it works and learn its history. All these things will help you in your trading venture one way or the other. Next, you should learn the different currencies that are traded and the pairs. Terms that are used in the foreign exchange market are also necessary to learn so you understand what other traders tell you or articles you are reading about the market.

After all of that, the most necessary thing you have to learn is a way to build your own trading plan. Each trader in the foreign exchange market has their own style of approach to the market depending on the trader ’s goals. Also remember that there’s no real guarantee, no simple technique to earn money in the currency market. You have to work conscientiously, you’ve got to have patience and you need to not give up simply. Infrequently failing in a trade is something you can use to your benefit. Keep learning, and keep trading, eventually you may earn consistently.

Forex Correlation Code

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The Science Behind GoMega GBPJPY

admin — Sun, 31 May 2009 03:20:29 +0000

The Science Behind GoMega GBPJPY

GoMega GBPJPY integrates applications derived from the latest findings in the advanced sciences of Chaos Theory, Fractal Geometry, Wavelet Theory, and Quantum Physics into an automated, online Forex trading system that yields highly consistent and profitable results.

Please keep in mind that you need no knowledge of any of these sciences to profit with GoMega GBPJPY. It is all built-in to the system. All the calculations are automatic.

The following is a brief description of each scientific approach that went into the development of GoMega GBPJPY, providing you with an overview of the substance behind the system:

Chaos Theory has been widely and effectively applied to understand and predict behavior in complex systems such as weather patterns, traffic flow through a city, turbulence (blood flowing through the heart, air flowing over a wing), and brain wave activity. It is also applicable to price action in the currency markets.
Fractal Geometry includes the study of an object’s roughness or smoothness. It is also used for modeling complex organic and geological systems, such as the growth of trees or the development of river basins. It has direct application to the “roughness” or “smoothness” in a series of changes in a currency’s price over time.
Wavelet Theory is employed in a variety of fields, including engineering, chemistry, neurophysiology, nondestructive evaluation, pattern recognition, fractals, and economics. Such applications include analyzing brain signals for the detection of Alzheimer’s disease, analyzing ultrasonic weld inspection signals for the detection of cracks in piping of nuclear power plants, and analyzing fluctuations of financial markets, among many others.
Quantum Mechanics is a branch of science that deals with the movement of discrete, indivisible units of energy called quanta. Part of the theory holds that energy is not continuous, but comes in small but discrete units that behave both like particles and like waves. Light waves for example, are made up of particles (photons) appearing in random locations (probability density clouds) in such a way that they can be observed as either particles or as a wave.A single bar in a price chart would be similar to a particle, while a series of price bars appearing in random locations on the chart can be observed as a wave.

So, what does Chaos Theory, Fractal Geometry, Wavelet Theory, and Quantum Mechanics really have to do with making money in the Forex?

Everything. See, any single one of these sciences - by itself - correctly applied to the Forex could give you a significant competitive advantage.

Moreover, used together, the precisely tested, synergistic combination of these scientific approaches - as automatically exploited by GoMega GBPJPY - reveals the underlying order and direction of the market, delivering far superior SHORT AND LONG TERM PROFITS that are exponentially greater than any other system relying on a single approach alone.

Again, all of this happens automatically - behind the scenes - so that you can concentrate your time on MAKING MONEY, not earning a doctorate degree of science.

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5 Unique Advantages of Trading the Forex

admin — Fri, 29 May 2009 13:30:09 +0000

1. More Consistent Trends and Price Stability due to Enormous Size & Liquidity
While the New York Stock Exchange averages about $16 billion in trading volume per day, and the London Stock Exchange averages around $11 billion, their combined daily dollar volume represents only a little over three percent of what the FOREX averages.

With a daily trading volume ofover $3 trillion, the FOREX is the world’s largest and most influential market in terms of both size and liquidity. It is an immense global market with no central exchange. As a result, the FOREX can neither be controlled nor regulated by any one country.

In addition, around 90% of its transactions involve the seven major currency pairs. This translates into smoother, more consistent trends, which means more opportunities for you to profit. Furthermore, the major currency pairs are stable, and the volume at which they are traded promotes price stability.

2. Easy Access
The FOREX deals with the buying and selling of currency, and was once the sole domain of governments, banks, large financial institutions, and import/export brokers. There was no room for investors with comparatively limited capital.

Today however, due in large measure to the Internet and electronic trading, the FOREX is now accessible to everyone. In fact, the turnaround has been so great that 90% of FOREX traders are speculators.

Take as an example the Chrysler Corporation, which last year earned more money trading the FOREX than it did selling cars. More importantly, even a tentative trader with as little as $300 of disposable funds can participate in this world-wide market.

3. Flexible Schedule
The FOREX is open 24 hours a day, from Sunday at 5pm Eastern time to Friday at 4:30 pm Eastern time.

Beginning with the New Zealand and Australian markets, FOREX trading flows around the globe as the business day begins in each of the world’s financial centers, moving from Sydney to Tokyo, then to London, and finally to New York.

In this 24/7 environment, you can choose your own trading hours as well as respond to events immediately-day or night.

4. High Leverage
One of the great advantages of trading the FOREX is the leverage it offers. Unlike stocks or futures, in FOREX trading, the amount of leverage available can vary from 100 to 200 times the value of your account.

5. No Debit Balances
What follows is an astounding bit of information: with most FOREX dealers your risk is limited to the funds you have on deposit with them. Because there are no margin calls in FOREX trading, for your protection most dealers will automatically close out all of your open positions if your account equity falls below the required margin level. Think of this as a final, automatic stop, always working on your behalf to prevent a debit balance.

The great thing about all of this is that you don’t need a college degree or even a high school education to do well trading the FOREX. However, you do need some training, you need an objective system, and you need a plan. Our site, course, trading system, webinars and 1-on-1 training provide everything you need to get started, to become successful, and to build real wealth.

Technorati Tags: advantages of trading forex, Automated Software, Foreign Currency Trading, Forex Market, Forex Trading, forex trading vs equities, Robot Trading, Stock Trading, trade forex

GoMega AutoTrader Live Statements

admin — Thu, 21 May 2009 10:58:02 +0000

GoMega AutoTrader Live Statement 1:

Gross Profit:	$19,929.53	Gross Loss:	($10,062.10)	Total Net Profit:	$9,867.43
Profit Factor:	1.98	Expected Payoff:	$101.73
Absolute Drawdown:	($657.18)	Maximal Drawdown:	$387.83(20.58%)

Total Trades:	97	Short Positions (won %):	54 (40.74%)	Long Positions (won %):	43 (62.79%)
		Profit Trades (% of total):	49 (50.52%)	Loss trades (% of total):	48 (49.48%)
Largest		profit trade:	$1,884.28	loss trade:	($539.52)
Average		profit trade:	$406.73	loss trade:	($209.63)
Maximum		consecutive wins ($):	5($1,283.95)	consecutive losses ($):	7(($1,168.75))
Maximal		consecutive profit (count):	$2,909.27(3)	consecutive loss (count):	($1,529.45)(6)
Average		consecutive wins:	2	consecutive losses:	2

To view the full statement, including all the individual trades, go here.

GoMega AutoTrader Live Statement 2:

Summary:

Deposit/Withdrawal:

5 000.00

Credit Facility:

0.00

Closed Trade P/L:

7 811.01

Floating P/L:

0.00

Margin:

0.00

Balance:

12
811.01

Equity:

12 811.01

Free Margin:

12
811.01

Details:

Gross Profit:

11
941.39

Gross Loss:

4 130.38

Total Net Profit:

7 811.01

Profit Factor:

2.89

Expected Payoff:

95.26

Absolute Drawdown:

151.00

Maximal Drawdown:

810.40 (10.02%)

Relative Drawdown:

10.02%
(810.40)

Total Trades:

Short Positions (won %):

51 (50.98%)

Long Positions (won %):

31
(67.74%)

Profit Trades (% of total):

47 (57.32%)

Loss trades (% of total):

35
(42.68%)

Largest

profit trade:

1 422.25

loss trade:

-294.48

Average

profit trade:

254.07

loss trade:

-118.01

Maximum

consecutive wins ($):

9 (1 441.01)

consecutive losses ($):

5
(-633.87)

Maximal

consecutive profit (count):

3 662.31 (8)

consecutive loss (count):

-633.87
(5)

Average

consecutive wins:

consecutive losses:

To view the full statement, including all the individual trades, go here.

Visit The Official GoMega AutoTrader Site

Return To The Review Page

Technorati Tags: Drawdown, GoMega, gomega autotrader live proof, gomega autotrader live statements, gomega proof, gomega review, gomega user statements, Losses, Profits, Trades

Forex Trading Secrets Exposed

admin — Wed, 18 Mar 2009 02:32:00 +0000

Almost 90% of the part time traders that I know of want to become full time forex traders in the near future. And they hope to be professional traders one day. That is the dream for most forex traders. What about you?

In order to survive in the forex trading world and make lots of money from the forex market consistently, being a normal forex trader is not good enough - you’ll need to become a professional forex trader. So just what are the secrets that professional forex traders have that enables them to make lots of money trading forex? I once had a conversation with a friend of mine, who is a professional trader. And he shared with me the 3 secrets that make professional traders like him so rich:

Secret #1 - Professional Traders are NOT Geniuses- They Simply Follow a SIMPLE Forex Trading System.

You see it correctly, they are not any smarter than you nor do they possess of any god-like foresight in forex trading. I dare to say this because I know of some professional forex traders who seem to know nothing in this world and clumsy in doing other stuffs but can be a professional forex trader. Why is that so?

It’s simply because they have a successful forex trading system which gives good forex trading signals to help them trade consistently. And what they have to do is to repeat the consistency just by following the trading system. That’s all! And let me leak a little more secret, professional traders use simple forex trading systems instead of what most people thought to be complicated.

Secret #2 - Learn and Work Smart, NOT HARD.

Do you think that you should learn how to trade forex the hard way and gain all the knowledge before you can be successful? Do you think you can master the forex market if you combine all the strategies taught by every forex trading expert? If your answer is yes, you are WRONG! In other businesses, you may get rewarded for all the efforts and time you have put into.

But in forex trading, it’s the right forex trading tutorials and education that counts and you are rewarded for being accurate and not for efforts. You will be surprised that successful traders only follow a winning trading system blindly to build up their trading capital.

Secret #3 - They possess Determination, Discipline, Money Management and Mindset for Success

My professional forex trader friend told me that he would swipe everything aside just to concentrate on his forex trading. It’s his determination to succeed made him overcome small losses and steep learning curves that he had experienced in the beginning. He emphasized on a huge mistake that a lot of people make is that they are too eager to trade, too eager to make money fast from the forex market.

You need to have discipline to follow the rules of your forex trading system. Huge capital gains in forex are piled up over years of consistency and not days, there is no shortcut to riches. He manages his money so well that even 2 or 3 losses in a row can’t affect his profitability much. 1% or even 0.5% of his capital margin per trade is what he is only willing to risk.

Not everyone can be a professional trader in a short period of time as you need huge capital, but anyone can become successful in forex trading if you learn how to trade forex the professional way. I’m happy to be your forex trading guide and what you have to do is to download my FREE ebook with contains forex tips, forex trading systems etc that professional forex traders use in their trading.

Technorati Tags: Foresight, Forex Trader, Forex Trading System, Geniuses, Money Trading, Professional Trader, Secret 1, Stuffs

Forex Riches Using Forex Robots?

admin — Tue, 17 Mar 2009 18:28:23 +0000

The Forex market was off limits to the public until 1998. Once it opened up so that anyone could trade, there has been a huge interest in Forex trading, and the potential it holds for making substantial profits.

Forex software was originally designed to assist professionals at banks and other financial institutions in making profitable trades.

The First Forex Robots were designed to analyze the markets and produce signals that the professional trader could use to determine if a trade should be made.

In recent years there have been a large number of Forex Robots that have been created for the individual trader. They only need a computer and a connection to the Internet to begin trading for you.

A good Forex Robot will definitely help you trade profitably, but don’t ever let anybody tell you that you’ll get rich in a few short years when trading with automated software.

When you do implement the strategies of a Forex robot, you need to remember that you will incur short term losses from time to time; it’s the nature of the Forex Market whether you’re trading manually or automatically.

The truth is, if you are trading with a Forex Robot that has been rigorously tested and proved itself in live trading, you will see some short term losses, but you can be pretty sure of profitable gains in the long run.

Remember that all Forex Robots are not created equal. Do your research before you invest your hard earned money into an automated system.

When you begin your search for the most effective Forex Robot, make sure you find out how rigorously it has been backtested and more importantly find out how well it has been proven to do in live trading.

A Forex Robot worth its salt should be producing anywhere from 85 to 100 % wins on a consistant basis.

Technorati Tags: Automated System, Banks, Financial Institutions, Hard Earned Money, Nature, Profitable Trades, Robot, Substantial Profits

The Best Forex Expert Advisor Automatic Forex Robot for Metatrader 4 Platform Trading

admin — Tue, 17 Mar 2009 15:36:40 +0000

The best Forex Expert Advisor automatic Forex robot program for your currency trading strategies is not necessarily what another Forex trader would prefer. Evaluating and analyzing automated Forex trading programs for the most cost effective robot to meet your currency trading needs will give you an edge on obtaining the most profitable Forex trading results.

Automatic Forex robot programs for MetaTrader 4 platforms are programmed in MQL-4 programming language (Meta Quotes Language version 4) which makes automated Forex trading very technical, and very flexible. Expert Advisors (EA) have a great deal of programming flexibility which make it possible for you to choose the best Forex expert advisor for your automatic Forex robot trading. The best Forex expert advisor for your currency trading is the automatic Forex robot that follows your preferred strategic currency trading rules.

The best Forex expert advisor automatic Forex robots do carry some similarities that are basic applications to make the fundamental procedures of buying and selling more convenient by being automated. The most common function is the ability to notify the broker to take action, and to analyze the situation. The manner in which the automated Forex trading program analyzes your current holdings against the specific indicators or algorithms of the currency trading program is what makes each automated Forex trading program unique. All of the best Forex expert advisor automatic Forex robots used on the MetaTrader 4 Platform must be attached to a chart on that platform. The best Forex expert advisor automated Forex trading software programs will supply installation and setup instructions for the Forex software.

The MQL-4 programming source codes that make up the best Forex expert advisor automatic Forex robot problems are if statements based on market conditions and trader preferences. An automated Forex trading software program written in MQL-4 will command the program to do X if the market does Y - with algorithms that are far more in depth with their mathematical indicators and probability integrities. Forex expert advisor automatic Forex robots will analyze your currency holdings based on the suggested market conditions, trends, ratios or other market indicators that the Forex software creator has based their trading strategy on. If you’re a computer programmer, you can create or adapt a Forex robot program to your specific conditions. However, the best Forex expert advisor automatic Forex robots offer flexibility and automation.

The best Forex expert advisor automated Forex software programs are generally categorized into Forex News Expert Advisors, Forex Breakout Expert Advisors, Forex Hedge Expert Advisors, and Forex Scalper Expert Advisors. News Forex expert advisors are based on indicators and algorithms that determine the course of trading activity by recent financial news releases. The Forex Breakout Expert Advisors sets predetermined levels of criteria that must be met before an action occurs. The Forex Hedge Expert Advisors balances profit and loss through opposing positions. The Forex Scalper Expert Advisor is risky and is aimed toward achieving frequent small profit gains. Keep in mind that the Forex Scalper Expert Advisors are not always the best Forex expert advisor automatic robots because brokers are well-known to ban the Scalpers, and it is heavily discouraged in professional currency trading.

The best Forex expert advisor automatic Forex robot software is the program that matches your trading confidences. Every automated Forex trading program should be throughly researched before purchased, and the currency trading and market principles it’s based on should have a strong logical foundation. The best Forex expert advisor for you is the one that will make you a profit. With your brains, and the Forex robot’s automation a profit shouldn’t be too hard to automate.

Technorati Tags: Expert Advisor, Forex Trader, Fundamental Procedures, Language Version, Programming Flexibility, Robot Problems, Robot Programs, Robot Trading

Forex Trading Education: Preparing Yourself For Profit and Risks Involved

admin — Tue, 17 Mar 2009 04:26:31 +0000

Many Americans or even other foreign nationalities are interested in getting involved on Forex trading. Who on Earth will decline to the wealth offered by the Forex market, which is the largest market around the world-a whooping $2 trillion U.S. dollars worth of daily turnovers. Anyone inside the Forex clan has the opportunity of getting a big slice of that huge wealth. Aside from the huge possibilities for its traders, Forex market provides an extensive list of benefits-round the clock financial transactions, extreme liquidity, real-time and efficient trade executions-and the list goes on.

However, before taking home the “bacon”, you need to get a Forex trading education. Just like any other investments, you should never step on the Forex ground without knowing what you are stepping into. With proper education regarding Forex trading, you are assured that you are on the right track and you are on your way in making substantial profit.

So, what are the things that you will learn when you undergo a Forex trading education? You will understand the real nature of Forex trading. As you probably knew initially, Forex stands for foreign exchange or the simultaneous exchange of a pair of foreign currency to another pair of foreign currency. By learning the nature of trading foreign currencies at the right time, you are assured of gaining profit, although expect that it is not huge enough like the profits earned by professional and experienced Forex traders. And getting a Forex trading education will teach you how to do it.

The first part of your Forex trading education will focus on studying the Forex market background. Remember that the Forex market is a volatile market-conditions are frequently changing, most especially the foreign exchange rate. Through getting a Forex trading education, you will know how to examine such market changes and make appropriate decisions.

After studying and learning the whereabouts of Forex market, the next part of your Forex trading education is about risk control and management. It is important that you understand the risks involved in Forex trading. You need not to over invest or be overconfident at the thrill of opportunity of making huge money. Also on this part, you will learn how you will cut potential losses or getting out of a deal before your losses reach and even exceed your limits. It is natural that you will lose money when you start Forex trading. It is the most crucial part of your Forex trading education because it will determine whether you will end up making your way to riches or to a black hole.

Once you learn how to control the risks, you will learn how to start and manage your Forex trading account. You will be involved in practice Forex transactions using a demo account and virtual money. Through this way, you will be able to get the grip of your trading account before getting into real trading transactions. With a Forex demo account, there is no risk involved yet the nature is just as realistic as the real Forex trade. Moreover, your Forex trading education will also let you know whether you are ready to do the real thing or you need more practice. Only then will you be able to start and manage a real Forex trading account.

There are various ways to obtain a Forex trading education. One of the best resources to get a Forex trading education is through the Internet. There are different free sites that allow you to open free Forex demo accounts to practice your Forex system and trading strategies. There are also free e-books where you can read essential information about the Forex market and its attributes. Free webinars (web-based seminars) conducted in real time are available at random schedules. You may also seek some valuable advice from different active Forex traders. These individuals can provide you some insights and important advice regarding the subject of Forex trading.

Now that you know a little about Forex trading, it is time for you to get some good Forex trading education. Take your time and do not rush things. With an average daily turnover of $2 trillion U.S. dollars, there is just a lot of money involved in Forex trading. Prepare yourself to grab a slice of that wealth as well to the risks involved.

Technorati Tags: Bacon, Foreign Currency, Forex Trading Education, Liquidity, Market Changes, Nationalities, Real Nature, Right Time

Forex Robot - Check the Algorithm to See if it Will Make Big Gains for You

admin — Tue, 17 Mar 2009 00:41:49 +0000

A Forex robots success or failure is dependent on the algorithm or rules, it uses for making trading signals. By looking at the rules, you can see which ones are likely to make money, here are some simple tips to find the best…

Every Forex robot you see promoted claims to make money but the simple fact is most don’t and will wipe your equity out. Why?

Because the rules they use to trade are based on unsound logic.

The first points to keep in mind are these.

Forget sophisticated mathematical formulas, to predict prices - they don’t work and never will. Forex markets don’t move to mathematics they move to the odds so complex theories lead to losses furthermore, there is no system that can predict the future. Ignore any system that claims it is predictive and move onto the next one.

Generally the fewer the rules the trading system contains the better.

To give you a graphic example of this, I know of a system that is one rule based and made the operator a million dollars using it! Another great 1 rule system that works is the 4 Week rule; it’s free online and it has made huge profits for years.

So don’t think simple systems don’t work they do, as they are very robust and a system that’s to complicated will simply break.

Now let’s look at some other ways to spot good Forex robots.

Does the system have an independent track record or is it simply a back test?

If it is a simulated back test, then all this means is that the vendor has bent his rules to fit historical data to make a profit. These fail miserably in real time as you can’t bend going forward.

Is it short term trading system?

If it is avoid it. It won’t work because all short term movements are random and no day trading or scalping system will make money.

Check that all Markets are traded with Same Rules?

If there not and you have unique rules for different markets and conditions, chances are it’s a bent to fit system, that has simulated track record and should be avoided.

In Conclusion

A Simple Forex Robot is best and it should trade ALL markets in the same way and trade them long term.

Most Forex robots you see claim to be mathematical, predictive and complicated which is not a good sign!

Stick to the simple ones and the ones that have a real time track record to back up what they claim and never trust a back tested simulation.

Look around and you will find the right automated Forex robot which can lead you to long term success.

Technorati Tags: Algorithm, Failure, Graphic Example, Mathematics, Money Check, Money Markets, Odds, Spot Forex

Forex Robots - Scams or a Road to Consistent Profits?

admin — Mon, 16 Mar 2009 23:26:37 +0000

Let’s face facts if you could make money with all the forex robots you see, everyone would be traders and not bother to work.

After all you pay 100 and make a triple digit income then you have no need to go to work. Furthermore banks would sack there dealing teams (on seven figure salaries) as a hundred buck robot does better (according to the track records) and reduces the banks salaries dramatically.

Now none of the above has actually happened I know plenty of traders and they don’t use hundred buck robots and I know plenty of bank dealers whoa re still in their jobs earning seven figure salaries and bonuses. So why has the whole world not got into trading forex robots and why are they being sold? Why are the vendors selling them, when they make so much money.

Now a scam to me is when someone takes your money and gives you nothing and most forex robots I see don’t do this so they cannot be considered scams. They give you something describe it and its up to you if you buy it - that’s not a scam and many will genuinely give you your money back.

The main issue is when you have got it, will it make you money and can look forward to putting your feet up, playing golf and leaving your work to a robot? The answer is no, not with the robots I see for sale, because they all have problem which is summed up in this statement:

“CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading….. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

Look on the promotion for the system and you will probably see it.

This is easy, we can all make paper money knowing the price data but you have to trade forward in the real world and you can’t spend paper money.

Generally, these forex trading systems look at the price data and then keep bending the rules until they have a profit.

The problem is:

No two weeks of data are ever going to repeat exactly again and this means losses, as the rules were bent to fit the snapshot.

This is the flaw and you get many forex trading robots which are clever and lose because they do this and it obviously wont see the same results again.

I once made the mistake of buying one built by an ex NASA employee and never noted he had never made real money, I was to impressed I had a man who had helped man walk on the moon on my side!

What happened to my equity?

The system wiped it out in a couple of weeks and this system cost me $10,000 dollars back in 1991! Ouch.

So are forex robots scams?

No - they give what they say and that’s a system that worked in hindsight - there not deceiving you, they give you the warning, if you decide to take it then that’s up to you. Many will give you your money back but that’s not really much if you get wiped out in the market.

There are very few forex robots with track records that are real of 3 years or more and you can find them but most come with simulated track records and you have to decide, if they will make real money. Me? I think I will give them a miss, even if they worked for NASA!

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