5 Popular Myths About Forex Robots

Forex market is among the most unpredictable and frequently changing market.

 Although, this kind of trade is high risk, there are still a lot of people who are venturing into this kind of investment.

There are a lot of experts who give advice to every newcomer in Forex trading,  it can be about using Forex robots, automated trading, or changing trading strategy.

 How can we separate the right from the myths?

Let’s start with Forex robots.

What are the common myths about Forex robots and how can they be corrected? 

1. Clever and complicated Forex robots offer the best service

Unfortunately, this is not true.  The most simple systems are the ones that may work best.

 The good thing about simple systems is that they use just simple algorithms and requires fewer elements. 

Aside from that, vendors would claim that their programs were designed by brilliant people.

Some would claim that their programs would be created by people in NASA or top programmers.

What does these people know about trading, anyway? 

2. Trading can be improved by scientific and predictive systems

Yes, Forex trading and automated trading systems use mathematical calculations to understand and analyze trading signals and their trends.

 But, are the mathematical calculations some programs claim are really effective.

  Some vendors would claim that they use Fibonacci and it could relatively improve trading systems. 

These formulas could help you analyze the market, but it could never be used to PREDICT the outcome of a trade.

If you can, then there would be numerous people who have gone richer because they won in the Forex market.

3. Forex robots can eliminate loss

There are Forex robots and automated system claiming to have zero losses.

Again, if this would be true then a lot of users would already be walking millionaires.  But that is not the case.

There are about 95 percent of traders who lose their money everyday.  So, the remaining 5%are just the successful ones, out of those small percentage, how many are using Forex robots?

  It is perfectly normal for everybody to encounter a losing period. 

4. You can leave your Forex robots to operate on their own

Forex robots claim that you can just turn on your computer and system and let it operate on its own.

 It can finish deals for you, without you even participating in the process.

 Any trading system has to be executed in a way where it can be monitored and still follow the trader’s trading strategy. 

The reality is that you can let you equipment continue on trading, but it does not mean that the more trades that you have the more gains you will get.

It still depends on how you would make your robot work for what you want and you strategy, not the other way around. 

5. Success in demo accounts is the same for actual trade

Not just because you have proven the effectiveness of the program in a demo account, it could show the same results in the real account.  Everything could be risky.

 This is why it is important to check customer reactions and comments about the products.

Most Forex robots website and forum would offer discussions about what are the  common problems encountered in real accounts and hot it was resolved. 

The Advantages Of Trading With A Forex Robot

We all might already have an idea what a Forex robot can do for Forex traders.

 Forex robot manufacturers would claim that this technology enabled them to gain more profit, but aside from this, what other advantages can a Forex robot give?

It is not unusual for a trader to a lose because of backing out from a deal that they think would end up in losing, only to figure out that this trade would go for the better.

Emotions can influence traders and make them indecisive.

 This psychological factor is actually one of the major problems a Forex robot addresses. 

Forex robots can eliminate the factor that human emotions could interfere with a deal.

 Aside from human emotions, robots could also eliminate user and manual error.


Forex robots, deprived of any emotions, would be able to logically and rationally analyze the trading signals and determine if the deal is profitable or not. 

A forex robot could maintain constant operation.  It could manage and trade your account without you having to do any manual trading on your own.

It constant monitoring would help a trader cope and analyze trading charts.  Forex robots do not only monitor a determined or particular currency pair, but could almost analyze and monitor all the currencies. 

Being able to monitor all of the currencies in the Forex market, would help you identify possible trades where you can get more profit.  Its monitoring and updates are actually real-time monitoring.

 Keeping in tabs with the development of the trading market real-time, could give you an edge if you would like to pursue the transaction.

 There are some automated systems that would only monitor a currency pair, but Forex robots could analyze about 20 trading signals and determine deals of several currency pairs. 

Aside from monitoring different currency pairs, you could trade in different markets, in different time zones.  But still, it would be based on the market and business hours.  But commonly, Forex market operates 24 hours a day weekdays. 

It could even be programmed to determine points where you would like to place an order or exit a deal.  This characteristic would allow traders to be able to enter trading deals without being present.

This means more flexibility.  You could do other work while your program would do the trading for you.  This is great especially for those who has limited  time in trading because of time constraints. 

A Forex robot could also trade in real time.  It could close on deals and handle transactions in seconds.  Manual trading would not be able to do this.

 But mathematically speaking, robots could be a deal smarter than people. And Forex robots intend to determine the how you can get higher profits and trades in a short period of time given several indicators and factors.

In international trading like Forex trading, the most difficult part could be getting the payments. 

Sometimes, there are risks of delayed and worse, non-payment.

Using a Forex robot would minimize this risk since the purchases will be coordinated with the software. 

There are great benefits a trader could reap from using a Forex robot, you just to make sure that the robot that you would get will work for you.

So you have to do some research and look for your best option.

 This would improve your profitability in the Forex market.

Enjoy Your Day.