If you are looking at buying an automated Forex software package you should carefully consider the 4 key points enclosed.
There are lots of Forex trading software packages you can buy and they normally cost $200 or less and promise an income for life with no effort on your part but are they to good to be true? Well considering the key points below will help you decide.
Does the software have an independent verified Track Record?
I haven’t found one that does, all you get are simulations over past data but that’s easy, as you know the closing prices and anyone can make a profit with this data. other systems come with track records direct from the vendor but there never checked by an outside source or audited.
Is it possible to make 100 - 300% in Gains with Low Drawdown?
Any experienced trader knows that the top traders in the world would struggle to match the track records of the cheap software packages and if you think about it, why haven’t all the world’s top traders been sacked in favor of a cheap robot?
In Forex, drawdown is a fact of life, and its not possible to make 100% gains with drawdown below 1% as many of the packages sold claim.
Can they really predict prices in advance like they claim?
Anyone who says they can predict the future is naive, if you really could predict prices in advance, there would be no market prices move on uncertainty and that’s a fact. It sounds great being able to predict but markets are made by humans and they are no predictable!
You can test it in a demo Account?
You can if your bored and got nothing better to do but any system should be tested over a minimum of two years, not 30 - 60 days. You can try it and see but if you have read this far you will understand why you could do better things with your time!
Its a fantasy, making huge profits, with low drawdown and with no effort and if it were so as easy as this to make money, 95% of Forex traders wouldn’t lose. If you want to learn Forex trading you can and if you make the required effort, no venture can make you so much money for the effort you put in.
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