Forex Robot Scams By Les Schwartz
Get these Forex Correlation Trading Cheatsheets FREE. Learn Trend Trading from sRs Trend Rider Vladimir Ribakov. Discover the top 10 Forex Robot World Cup Ranked Robots- The #1 robot is already 156.96% up in profit in just 11 days! Les Schwartz: Do these headlines look familiar to you? I get a new one in my mailbox every week.
“The new XXX Forex Robot is taking the forex community by storm!!”
“There is no other way to put it, the buzz surrounding the XXX Forex Robot is…. Huge!!”
“It’s official… the boundaries of Forex Artificial Intelligence robot trading has been pushed forward.”
“The XXX Forex Robot went live yesterday and, as I predicted, it rocked the Forex industry…”
“XXX Forex Robot will change history…”
“So after 24 hours, the industry buzz behind the XXX Forex Robot is reaching fever pitch!!”
It’s a seductive concept …. the Money Machine. Let’s be honest here. All of us in our heart of hearts dream about finding the “Holy Grail:” The infallible system that tells us to buy at the bottom and sell at the top. Taking it one step further, we want this system to run on “auto-pilot.”
We just get up in the morning, start our “Money Machine,” and then collect our profits a little later in the day on our way to dinner in Paris. (As long as we’re fantasizing, we might as well have a private jet.)
Ok, now let’s get real. The money machine doesn’t exist. Billion dollar companies, that can afford banks of super-computers and teams of programmers have gone bankrupt trying to create that “Holy Grail.” (Does the name Enron ring a bell?)
Wall Street brokerage houses consistently lose millions on programmed trading. Do you really think you are going to find a “Money Machine” that’s going to run a few lines of code on your home computer and automatically fill your bank account?
Of course not! Yet, many traders wind up jumping from one trading program or method to the next looking for just that. They don’t make the commitment necessary to succeed with any of them because when they start one method, they are already looking for the next. I know that’s the case because I’ve “been there and done that.”
The fact is that no programmed trading system can work because every day is different than every other day there ever was. Market movement on any day is the result of all human experience up to and including that day.
While long term investing is fundamental in nature, shorter term trading is psychologically based. It’s all about perception. Would you use a robot to get you the girl or guy of your dreams? Of course not!! Only a human being can act and react to matters of perception (”Isn’t that a coincidence!! I love sushi too!!”)
