I'm sure that you have heard of the software called Forex Raptor. It is supposedly created to help beginners and even experienced traders to make money from the foreign exchange market. The Forex market is the largest market in the world, with billions of dollars exchanging hands between large financial institutions, traders as well as many small investors every day.
It is easy for anyone to become a Forex trader today, due to the ease of access into markets with online brokers. All you need to have is your internet connection and your broker's trading platform, and you're ready to start trading. However, many beginners enter the markets with no prior knowledge, and often end up losing a lot of money.
1. Why Was The Forex Raptor Created?
This type of automated trading software has many benefits as well as some disadvantages too. First of all, the fact that it can trade completely automated means that I don't have to constantly watch the screens throughout the day, giving me a lot more time for other activities. It is able to capture every big market move automatically, whereas a manual trader may not be able to do so as easily.
2. So What Are The Drawbacks of Forex Raptor?
Forex Raptor is not going to be a guaranteed money maker, because a piece of software can only be programmed to analyze the market's prices and technical indicators. There are many other factors that may cause prices to move against you, which are for example, news events that can affect international economy.
3. Conclusion
If you decide to try out Forex Raptor, remember to try it out on a demo account first. Even though it is currently showing a profit on my demo account, I have realized that the currency prices can sometimes move against you when unexpected news events occur. After you become more familiar with Forex trading, you can also choose to avoid trading when important economic reports are released, when the markets will be extremely volatile.
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