In the past year or two, there has been an explosion in the number of foreign currency exchange trading (better known as Forex) products on the market, which is indicative of the amount of interest there is in this particular business. However, becoming a Forex market winner, someone who makes consistent profits from speculative foreign exchange trading is nowhere near as easy as the sales literature for most of these products would have you believe.

The first thing to understand about most of these products is that the majority are Forex trading 'robots', automatic trading programs that buy or sell one currency against another in a fixed pairing to make a profit by speculating on which way the market will move.

Every one of these products makes (often pretty unbelievable) claims about how much profit you can make by trading with this robot based on back testing of what would have happened if you had been using it in the past. And of course, it is the claimed levels of performance that represents the most attractive feature of all of these products allied to the fact that if you are using a 'robot' to trade for you, it is not necessary to know anything about Forex.

This is however where one problem with a product of this nature lies because trading Forex markets without having any idea of what you are doing could be a very quick way of throwing your money away. The assumption that you can trust a 'robot' program to make you a Forex market winner with every trade is a very dangerous one to make but also an assumption that you cannot avoid if you don't know how markets work.

There is another problem with this kind of trading system that you should be aware of as well.

Despite the fact that modern predictive technology is undoubtedly way more advanced than anything that was available in the past, most Forex market experts in conjunction with professional traders and market makers to whom governments and multibillion-dollar corporations entrust their trading decisions do not believe in fully automated trading systems. These experts would argue that even though back testing is a standard method of checking the potential profitability of any trading system, what happens now and in the future is never a 100% mirror image of what happened in the past.

Whilst automated systems or trading 'robots' can get it right some of the time to land some profitable trades, it is a fact that no system is ever foolproof.

Unfortunately, far too many of these products claim to trade with 100% accuracy which the experts will tell you does not happen. This might therefore be one very good reason for being skeptical about buying and using such a product.

If on the other hand you create or use a successful Forex trading system, a system that generates buy and sell signals that are right more often than not based on which you make conscious trading decisions, there is undoubtedly a lot of money to be made in Forex markets.

From what I have seen however, becoming a Forex market winner has little to do with any of the trading 'robots' I have tested so far


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