A Forex Expert Advisor's Review There is so much talk about forex expert advisors in the forex community. They have been really gaining attention in popularity throughout the last few years. But the question remains, do forex expert advisors actually work? Well, if you at the this statistic: 95% of forex traders lose money, you might get your answer. I have absolutely nothing against forex expert advisors. I actually like the idea of the letting a computer do my trading while I am surfing at the beach. I just don't think that it is that sensible. The forex market is a complicated, living, breathing thing. They are intricate. They basically cannot be traded on autopilot. Think about this: News has just come out stating the Fed will lower interest rates by half a point, instead of a quarter of a point, like most analysts predicted. You have to be prepared for that. To a trading robot, this information means absolutely nothing. The job of the trading robot is to take lagging indicators and trade them mechanically, irregardless of market conditions. I can safely tell you that this is what the pros do. You can guess that not too many people are having success with these robots. The reason I say this, is because you can go on any forex forum and see hundreds, if not thousands threads dedicated to expert advisors. How many of A Forex Expert Advisor's Review
those threads do you see where traders are making pips on a real account (not demo) in a consistent manner. If you did, congratulations because you just found the holy grail! Personally, I am not a believer in the forex holy grail. I don't think that there is some magical, effortless system that will make your traders 100% profitable, 100% of the time. I am a believer in learning the forex markets. For all you technical traders, that stars with price action. It starts with understanding that there are patterns in the market that get repeated over and over again, which you can use to predict the future price. If you can just look at a plain bar chart and can predict where the price is going to go, then you know you are onto something good. John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. You too could learn forex trading.
A Forex Expert Advisor's Review