In the world of forex, a lot of trading systems and strategies abounds, and there are all kinds of people looking for a convincing
way to sell you stuffs and programs that you think may help develop your trading carrier.
They refer you to a very good looking sales page with some seeming track records that looks and sounds so convincing that you simply just believe that everything they are saying is true. But come to think of it, Can a piece of machine really do what the human mind can do? (More on this later)
Digging deeper
If you dig deeper a little bit into some of this robot stuffs they talk about, (literally any of them) and do some research, you will quickly find the systems are unsustainable and they are just showing you an ‘ideal’ looking track record over a fixed period of time.
Plus It’s also possible to make fake track records that look ‘real’, so take any ‘track record’ you see advertised as ‘proof of performance / results’, with a grain of salt. Yea! simply see it as trash!
way to sell you stuffs and programs that you think may help develop your trading carrier.
They refer you to a very good looking sales page with some seeming track records that looks and sounds so convincing that you simply just believe that everything they are saying is true. But come to think of it, Can a piece of machine really do what the human mind can do? (More on this later)
Digging deeper
If you dig deeper a little bit into some of this robot stuffs they talk about, (literally any of them) and do some research, you will quickly find the systems are unsustainable and they are just showing you an ‘ideal’ looking track record over a fixed period of time.
Plus It’s also possible to make fake track records that look ‘real’, so take any ‘track record’ you see advertised as ‘proof of performance / results’, with a grain of salt. Yea! simply see it as trash!
These system-sellers (notice I didn’t say ‘traders’ because real traders wouldn’t sell these things) aren’t typically explaining to you that you will need very large stop losses on many of these robot expert advisor trading systems, so large that one losing trade will wipe out of much of your account.
What are trading Robots or Expert advisors (EAs)?
Expert Advisors are programs that allow automation of the analytical and trading processes in the MetaTrader platform. They typically do this via you buying and then downloading a file onto your computer and then installing it into your MT4 trading platform as plugins or add on.
This is such that after installations are completed, the Device will represent you and your mind as the trader; determining for you when to sell or buy a currency pair (usually you have to only use the pair or pairs suggested by the software seller), it will also typically include a risk management script of some type. The main attraction here is that there is little to no need for you to do much of anything other than install the software.
In fact, trading robots and expert advisors promise to fully automate the trading process with the main marketing attraction being that the human emotion and thus human errors are removed from the process, or so they claim. However, as we alluded to earlier, this is little more than a pipe dream when you dig down into the surface a little further…
The human mind is more powerful than you think.
Many of us, especially some Nigerians just don't want to sit down to learn the power that is available when the mind is being task. Looking for a quick way to make money without your personal input is a just nothing but a mirage and as you know, mirages are not real images, they fade with time a reality dawns.
All you need to do is look back at the greatest traders of our time and of generations past. Were they fully dependent on automated trading systems? No. Sure, they may use some type of trading software, but behind any outstanding trading performance is a human being, more importantly to my point, a human mind.
Be the game changer.
Nobody, including an automated system can do what you really can do if you let yourself do it. I want you to train yourself to trade; even though the process is painful and long, but i think it is worth your time especially if you are considering going into as a career or an option to quiting your paid job.
Do not quite your job because you just told us you have discovered a trading method you want to use to trade forex; and when we ask you what method you have discovered was? You said Robot. It is better you personally develop yourself in the area of this business. Do more and more researches on what is price action. Because everything that is wired in that robot you are saving money to buy is Price Action.... Do your researches and make up your mind to trade for yourself and be in your own zone.
Alright in conclusion, for those of you that will not believe what i have written but may want to continue using your robot because it has proven profitable for you the weeks; I want you to go ahead, but please when you fail do consider price action.
See you soon!
I am wealth Peters
CEO and Head Coach, Pips Akademy
Saying: Be a great trader!
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