Automated Forex Trading seems to be all the craze at the moment, not that it is new, but a lot of the big internet marketers have gotten a hold of it and seem to be wringing it for all it's worth. You have probably seen a lot of their sales pages, and if you are like me, hate their sales garbage that seems to contaminate every bit of info you try to get. I was in the same situation not long ago, trying to find out if these Forex Robots really work or if it's just a big scam, believe me it's impossible to find any down to earth reviews.
Are Automated Forex Trading systems for real?
I literally spent a whole day trying to find this out, no kidding. In the end I gave up and thought what the hell, I'll get one and see what it's like, if I don't like it I'll get a refund. I installed it, which was fairly easy, not as easy as they tell you it is. I setup a demo account and away it went. (OK this is where most things turn into a sales pitch and tell you how the sun shines out of it's ***, don't worry I'm not going to do that) It started trading in about 5 minutes, seemed like longer because I was constantly checking up on it. It made a few losses, but nothing too major. On a $10000 demo account it made me $2500 in a week, I think I was using too much leverage 1:100. You don't want to do this, the smaller your deposit the more leverage you need to make money. Using high leverage brings large profits but also can mean large losses.
I'm still a bit Skeptical what should I do?
Do what I did, choose an Automated Forex Trading Robot, use it on a demo account and see how you go. One thing to note, leave it on a demo account for at LEAST 30 days. Don't do what many people do and chuck it away after they see it make a few losses (this is completely normal). If you are satisfied with the results after the 30 days, start making some real money, use that 30 days to research the best account for your money. Look into things like leverage and spreads, this will stop you watching it trade every waking moment (it's hard not too). If you have any problems or questions make sure you email your Forex Robot's support team, that's what they are there for!
The Automated Robot I use is Forex Tracer. They have great support and I have had success with their program. Good Luck Trading!
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