If you are into forex trading, your will surely heard of forex robots or better known as EAs (expert advisors).
These EAs are programs or systems that can execute trades on your behalf even when you are not in front your computer.
Some traders don't even need to have a computer running in order as long as they have a platform running in a rented server.
It all sounds amazing as you can get the idea of making money without having to lift a finger.
Perhaps you are chilling at the beach but your forex trading account is still cashing in on pips after pips.
But are these forex robots or EA are for real?
An EA is programmed to enter a trade based on technical signals.
It is a trading system made up of mathematical algorithm that makes trades when the conditions are made.
There are EAs that work out there but the problem lies in which one do you use?
This is where the scam part creeps in.
The forex niche is huge and high in demand because many people want to make lots of money.
Who would complain about too much money?
So a lot of programmers and marketers will try to cash in the 'greed' of traders.
Just do a quick search on the internet and you will find tons of EA programs for sale.
You can buy one for $20 ans some will cost up to $900 or more.
It is all in the marketing.
I use to be a fan of such EAs.
Thinking that I can make money even in my sleep but not is not the case.
EAs will not work because it cannot adapt to the ever changing market condition.
You may have a great run of trades going your way but in the next week or month, lose everything you had earned previously.
So can you trust an EA to trade for you?
I vote NO....
happy trading,
Yours sincerely,
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