Can Automated Forex Trading Systems really make thousands of dollars per day?

venumo · #1 (**permalink**) 09-20-2008, 01:06 AM

Today in the forex market, there are many automated forex trading system software's available. All those automated trading pilots announce that anyone can use them to make thousands of dollars everyday. But how far all these are true? Click here to view full article...

venumo · #2 (**permalink**) 10-07-2008, 06:50 AM

Many automated forex trading systems say that there is no need to have any experience if you trade with automated forex trading systems. Because the automated forex trading systems will automatically place orders for you with out any human intervention. Is this really so?

But this is absolutely wrong. Until and unless you have some trading experience and some knowledge on forex trading you can’t make profits with forex trading systems..... Click here to read full article.....

Forex Robot · #3 (**permalink**) 10-07-2008, 11:05 AM

They can make thousands in a day, but probably won't. Most will not risk that much each and every day. The best ones will make regular smaller trades. The best one I have been using is Forex Funnel. You can read my reviews based on my real life testing at Automated Forex Reviews

duvuacris · #4 (**permalink**) 10-08-2008, 02:30 PM

I don’t know how, but I know this guy who left the account open all weekend long and the next Monday he got 3000 pips (using MT4). Is that lucky?? I think yes, but what do you think?

venumo · #5 (**permalink**) 10-10-2008, 04:34 AM

I don't know how lucky he is! But as you said, he must have been too lucky!
Many are not that lucky, so my simple suggestion is just to stick to the basics while using automated forex trading system rather than testing our luck with automated forex trading systems and loosing money!

fxtrendline · #6 (**permalink**) 10-10-2008, 04:10 PM

I think it's EA for strong trend not sideways, so in a strong trend the result is awesome

venumo · #7 (**permalink**) 10-18-2008, 06:08 AM

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x-pi · #8 (**permalink**) 10-19-2008, 12:58 AM

As my trading experience, not all automated trading systems give thousand pips daily. It depends on the market situation. For example, if I use ABC system, it give me much profit this week, maybe the next week, or the next month, it will give me thousand of losses.

In fact, when someone said, "hey, this system is great, i got many pips", we are interested. But when we follow him using the same system, the result surely different. Maybe this system isn't suitable for the situation right now. So, in my opinion, the system works well on a certain market condition, and the implementation time is very related to the result. So, no guarantee the automated trading system always give us thousand pips.

RoyTan · #9 (**permalink**) 10-19-2008, 05:02 PM

Absolutely! There is no guarantee any automated forex trading system always give thousand pips.
Though I recommend to traders on the few EA that I know, I do have to highlight that each and every EA requires tweaking from time to time as market changes.

venumo · #10 (**permalink**) 12-29-2008, 10:21 PM

FOREX market is the one which oscillates more sporadically. In this rapid market, more than 90% of the traders loose and will be left out with empty pockets. Only 5 to 10 percent will make profits in the forex market. But why?

Of the 90% of the traders who loose are mostly the newbie’s. So the common thing among the 90% is that they "lost". But what is the common thing among the 90% of the forex traders that led them to loose in forex trading? So that 90% of the traders are lacking of something, then what is it?

The common thing is that "Some forex traders know the forex strategies which work but they do not know which tools to use to implement those strategies or some knows which tools to use but they do not know which strategy to use with that tool".

This is the only one point which led many traders to loose in forex trading. To become a successful trader one needs to know what are all the forex strategies and what are the best advanced tools needed to implement those forex strategies. This is the simple secret of many successful traders.

Win and loose are like the two sides of a coin. Similarly, the forex strategies and the advanced tools such as automated forex trading systems are the two sides of coin. Any forex trader who wants to be successful in forex trading needs to know the heads (Forex Strategies) and the tail of a coin (Automated Forex Trading Systems).

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