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Forex Scalping System - An Easy Way To Lose Your Account Equity Quickly

 


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There are lots of forex robots online to choose from and they all claim big gains but most have never even been traded and are simply curve fitted. If you want an automated forex trading system to make money, you need avoid curve fitted systems.

First let's start with a disclaimer, 95% of forex trading robots use. It makes the track record presented meaningless. See the one below and the system is odds on to lose - here it is:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. 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".

Most trading systems sold online carry the above or similar disclaimer and you can see the problem.

The track record is simply made up, using past data and that's easy.

Imagine if we knew tomorrow's prices today, we would all be millionaires but that's not reality!

Most vendors curve fit the track record to fit the data and this is the same as shooting blindly at a barn door and then drawing white circles around each shot, to make everyone look like a bulls-eye.

The problem is of course, no two portions of data ever replicate themselves exactly again and these systems that have simply been bent to fit the data, fail miserably in real time trading.

Most systems sold have never been traded and you have to ask yourself - if the vendor is confident in it, why doesn't he trade it?

The answer is - the vendor is selling systems to make money from subscriptions and they are mostly sold by marketing companies - NOT traders.

Finding a Robot For Gains

There are good forex trading robots - but you have to look hard to find them. Traders simply don't think about the simulated track record or don't see it and then wonder why they lose and the reason is obvious if you have read this article.

Forex trading offers huge rewards, for those traders willing to get the right forex education and apply themselves in the right way.

For the trader who thinks he can buy a forex trading system and get rich for a few hundred bucks, all that he will get is losses.

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