Forex Robots are not the "Holy Grail"

We report on Forex Robots, you decide, but we are not sold.

The Internet mostly claims that there are pros and cons using Forex trading robots. They can be great to enter certain trades and they do not involve emotion. They do have set rules you as a trader must follow. However,  you must never, follow the trades of a robot blindly. If you do that, it may be equal to "financial suicide". I do not own any robots myself and after careful research I have come to believe that there are other methods to trade the Forex that are much more accurate and safe.

If you are going to use a robot you must be ready to add your own analysis to it. This will help you confirm to a certain extent if the trade given by the robot is actually on track. The problem with doing this is that robots function and run on trading platform 24 hours per day and you can not possibly sit and watch it like that.

Forex trading robots do not take into consideration changes in market conditions. They always enter trades as long as the rules are right, however if market conditions change, the rules that are deem right to the system may not be right to the actual market.

That is the primary reason trading Forex robots blindly may be lethal to your account. If you want to be a Forex trader do not expect a robot system to do the job for you. You should be able to understand the market you are trading and assess to a certain degree and then rely only one your ability and the ability of your trading platform to actually confirm treads using a good Forex trading system to do that. May I suggest that you use a robot only to confirm your own analysis.

I hope that this will help. There may be a "holy grail" in Forex trading, but it isn't a Forex robot. And, always remember that  you are the master of your own decisions and always keep it that way.
 

One of my readers wrote me with this: "You don't have to do any trading yourself. You can spend your time however you want while the Forex robot trading does all the analyzing and trading for you. You don't have to worry about missing trades because it's always there trading for you 24 hours a day. You don't have to be good at trading or even know how to trade. One of the troubles most traders face is they never learn the discipline and trading habits that are required in order to be a good trader. With a trading robot that doesn't matter because you are not a factor in the trading. Robots naturally trade with discipline and without emotion" Wrong!