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This
Forex trading robot, has a very catchy name and the general tone of
the marketing copy seems to be, that making money in Forex is so
easy, a child could do it. Lets review FX Childs play in more detail
and see if this robot can make you a great income without making any
effort.
So
what's so different about FX Childs Play, compared to the vast number
of other automatic Forex trading systems sold online? The copy on the
website states:
“Unlike Most
of the other trading systems out there, Fx Child's Play System can be
used to trade multiple times a day using shorter timeframes. so it is
up to you which time frame you choose for trading this system.
Imagine
what is it like when you have a profitable
trade running.
(I am sure you would be happy and smiling. ) But just after few
minutes you see another opportunity. You take that trade as well. And
after sometime, you find another trading opportunity. That can very
well happen with FX Child's Play System”
So you just
sit there watching the profits rolling in and you smile while you do
so but it all sounds to easy and in todays world of instant
communications all daily volatility is random, its impossible to get
the odds on your side and without the odds on your side you are going
to lose money. We now move further on down the copy and we get the
following quote:
“And
Finally you can use this System to Multiply your account over and
over again! Imagine you could turn your 5 thousand dollars into 2
Millions”
Well
you can imagine it but don't think it will happen with the FX childs
Play Robot – Why? Well you get all the usual testimonials, of how
you can make great profits but you also get the following disclaimer:
“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”.
So
the track record of FX Childs play is done in hindsight knowing all
the closing prices!
So
how much money could you make having tomorrow's closing price today?
Huge amounts of money in fact you could make the 2 million they claim
starting with $5,000 but making money knowing all the closing prices
is childs play! My 12 year old nephew could do it but I wouldn't
trust him, to trade my Forex trading account.
Having
all the closing prices and then, bending a track record to fit the
data is easy but in the real world of trading, we don't get the
closing price in advance and that's what makes Forex trading such a
unique challenge.
The
cost of this Forex robot is just $99.00 but anyone who thinks, it
will give them a second income and make them rich, with no effort
will probably end up disappointed. This is yet another automated
Forex trading system which makes big claims and presents no real
trading figures to back up the claims.
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