8
Has anyone used a Forex Robot?
Hello there,
I came across an organisation, and read about Forex Robot software. As I understand, you can be a beginner regards to Forex Trading because the FR software trades on the owners behalf; also its parameter functions can be set. I also know there are lots of other FR –Software out there but which one is the best?
I’m interested in exploring this concept further, however; I’m new and never done anything like this before; so naturally it makes me cautious.
The name of the organisation where I read about Forex Robot software is called Ion-Innovations. Has anyone ever heard of this organisation or used a Forex Robot for trading?
I’ll be extremely grateful for any answers all suggestions.
Many thanks
Dave
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.
There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. For instance, you might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.
There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.
I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.
I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.
Was this answer helpful?
LikeDislikeMany Forex Robots are scams, this business is growing so fast.. It’s all most impossible to know which robot is really making profit! I have tried many robots, and lost money.. but my favorite hint for peoples who want to earn money from forex, Managed Forex Accounts! I got mine on http://www.managed-forex.biz and im very happy with them.
I hope i helped you
Was this answer helpful?
LikeDislikeSome Forex Robots can work for highly experienced & successful Forex traders. For an amateur trader it almost always spells disaster. In addition….. most Forex Robot Software are scams. Total rip-off’s.
Was this answer helpful?
LikeDislikekeep interest in exploring your concept further, however; you are new and never done anything like this before. so naturally make it curious instead being cautious. forex trading business would rise multiplied in future.
my boss do automatic arbitrage trading in commodity with forex trading through his own made software,successfully.
in future you may contact for this concept with your knowledge and something like suggestion from my side through yahoo.
Was this answer helpful?
LikeDislikei know many success full arbitrators doing commodities and forex.they know better about the uses and draw backs of robo trading.
the concept of taking positive opportunitiess in profitable trading is clear .
but beware of selfish manipulatorss in this field.
Was this answer helpful?
LikeDislikeForget it, as a newbie you will find it almost impossible to make money trading using a Robot. A cursory search on the net will provide plenty of horror stories.
This platform will be no different I promise you.
Give it a go by all means to find out for yourself.
There are reasons why 95% of retail investors lose money trying to trade FX and this is one of them.
Was this answer helpful?
LikeDislikeAs a beginner, you’re at higher risk of losing money in forex trading, whether through discretionary trading, signal trading, or automated trading (i.e., Forex Robot software). This is because you still lack the knowledge and experience that is required to trade forex successfully.
Even with FR software, you still need to have some knowledge of the forex markets and trading in particular, especially when it comes to money management. Most newbies risk too much money when they first start out, which they eventually lose. Don’t be that guy.
If you want to get into forex trading, always take a conservative approach. This also applies to FR software. Never risk too much until the robot has proven its worth.
It’s true that most FR software out there turn out to be scams (yet another reason for a newbie to be careful and hold tightly to his/her money). Still, there are a few robots that seem to hold promise.
But like I said earlier, take a conservative approach when checking out FR software. One way is to research the Net for anyone testing FR software using *live, real-money* trading accounts. Why put your money at risk to see if a robot will make it or break it when someone else will do it for you?
For starters, the link below provides resources that are testing some popular FR software using live, real-money accounts. That should help you with your decision regarding which forex robots are winners and which are losers.
Good luck!
Was this answer helpful?
LikeDislikeHi there, as a newbie, I would suggest you to first create a demo account and start demo trade as frequest as you can. Do some research online and learn to pick up some useful books to go thru before you decided to go live. Forex robot will only work if you have basic trading skill and the market ‘know how’. Find a guru to assist u if that helps you to speed up your learning curve.
Check this website for some useful contents http://www.onlineforexnewbie.com
Was this answer helpful?
LikeDislike