Can you make money with Fore robots? Yes you can but you need to know what to expect in terms of gains from the best robots, the downside risks and also how to avoid all the losing robots and this means almost all the heavily promoted ones! After reading this article, you will know what to expect from a good system and know how to avoid the losers.

The first point you need to consider is - the reality of how much money you can make so:

How Much in Terms of Profits Can You Expect with the Best Forex Robots?

Over 25 years of trading, I have seen and tested numerous systems and the best of the best, will make you 50 – 100% per annum (many robots claim far bigger gains but we will cover why these never hit there target growth in a moment). If you make 50 – 100% this is an excellent return over the long term but the problem most traders run into is - they can't handle the dips in equity I.E. draw down or losses.

How Big are Downside Losses and How Long do they Last?

A good robot at some point targeting 50 – 100% long term, will tend to draw down 30 – 50% from peak equity at some point and the draw down will last anywhere between - 1 and 9 months ( not days months) just so were clear. Of course, the best robots recover to make a new peak in equity - but you have to mentally be prepared to follow the system through these periods of draw down which is tough for most traders.

Are You patient and Disciplined?

Do you have the patience and discipline to follow a robot?

Consider this before you get one because you are going to have to focus long term and be patient, during losing periods. The good news is if you are patient there are two systems, you can get which make great money long term:

Richard Donchian's 4 Week Rule which is free and you will have seen on our site. The Turtle trading system is another good system, where you can get the rules for free or buy the robot version. Both these systems were devised by real and famous traders and both work but you must follow them long term.

I have Seen Forex robots claiming far bigger gains with Less drawdown do they Work?

Of course the rise of online trading, has seen a rise in Forex robots saying you can make ridiculous gains, with little or no draw down. Many claim growth rates like 100% per month with 5% (or less) draw down. Well that's better than any trader I know or the best in the World like George Soros or Jimmy Rogers! These guys, if you haven't heard of them. are top pro's so if you think a robot can beat them think again.

If you could really just make these gains, with so little draw down, a bank or large investment house would pay a few hundred million, a billion or more to buy it. The majority of robots sell for a few hundred bucks because they don't work, NOT because they do.

I have Seen the Real Track Record Though!

Sure you have - but where is the audit of the figures from a reputable auditor? I have never seen one. You get simulation disclaimers or sometimes, account statements but without an audit how do you know there genuine? The reason there is never an independent audit is easy enough for anyone to figure out.

Personally, I know there is no easy money in Forex – sure you can make big gains but it requires effort and you will experience draw down, that's just the way it is in Forex trading.

Ridiculous Statements Made About Forex Robots

Here are some of the statements that always amuse me:

“The robot uses sophisticated artificial Intelligence to predict the market”

Really?

There was a major event last year, when a research team in California, made a major advance in artificial intelligence. The research team actually, got a robot to pick up and fold a towel! This was a major breakthrough because the robot was NOT dealing with an object  and not performing a pre-set action - It had to fold it with no preset specfic programming - this I thought was an amazing feat of computer programming.

This research project cost millions of dollars - but you are supposed to believe, you can get a Forex trading system that can predict what humans will do in advance (when humans dont stay static and are not predictable) all for hundred dollars.

“The System was developed by a computer genius”

In other words, a guy has come in and bent the system to fit back data and then, the system collapses in real time trading as it's curve fitted. Markets move to the odds, not to science! so a computer genius, will never be able to beat the market.

“A System Brokers Hate so much because it makes to much profit”

This one always amuses me. I have worked in a broker and any broker knows, that there is no robot which says this which will beat them. The trader who falls for this hype, soon ends up giving the broker all of his money.

“A robot which will scalp x pips per day like clockwork”

More people believe the above statement, than I ever would have. The fantasy of being able to make money every day - is a dream NOT reality. As we have said, you will have periods of draw down in the short term, even with the best systems and you will have long periods of drawdown will too.

Should You Use a Forex Robot?

The answer is if you are realistic, have a disciplined nature and focus on the long term.

There is a big difference between the myth promoted by online vendors and what you can actually make and also, the length and depths of periods of losses you will encounter. Fact is most retail traders, buy a robot because they don't like not being in control or don't have the motivation to learn their art.

Use the Most Powerful Computer of ALL Your Brain

Your brain, has one significant advantage over a computer – its capable of independent thought and that's a huge advantage in Forex trading, as you can think and react to situations as they occur.

The best way to trade Forex is to learn a system yourself which you have some control over. By understanding the system and being able to be active using it, not only do you feel more involved, you know you have an influence over the risk and reward of your trading. Anyone can learn a simple system and make money with it and in my view, its the best way to trade.

Most traders like a short cut and to make no effort but the best way is really to learn Forex yourself and if you do, you will be well rewarded, it really is that simple.

GET an FX Course 280 Pages of Proven Methods

Invest in Forex Education and Trade Like a Pro

To win at Forex trading, you need to get an education and gain confidence in what your doing so you can trade for big Forex profits. Your education and mindset are the key so learn Forex the right way and get 250 pages course of proven strategies and tools, daily lesson and full 1-on-1 support from real traders – Go to:

http://www.learncurrencytradingonline.com/subscribe.html