Automatic Forex Trading Systems

So is it possible to turn on a forex trading robot and make money? Or is this a scam and should be avoided at all costs? Automated forex trading machines or EA’s are very popular and there are a seemingly endless list of them all trying to get you to give them a try. Most people are skeptical about them as they seem to promise unreal returns in just a few months. Do these trading systems work and is is possible to make money with them?

I decided to find out for myself, and after months of testing with various forex trading robots and systems, automated and manual, I realized that most of them do not work and have given me significant amounts of losses in the testing. Despite the number of robots that failed, there were a several that have delivered consistent monthly profits, and I continue to use them.

With the most up to date automated forex trading software, losses are still unavoidable and will be made occasionally just like any form of investment. However, it is that the risk-reward ratio of currency trading, especially with robot trading, that make the risk of making losses on some weeks is well worth taking, because of the massive potential amount of profits that can be made.

Each robot or EA system has their own unique way of trading, profit targets, risk levels and money management techniques. I prefer not to use software that try for large gains but are very risky in nature. Experience dictates that it is much harder to continue growing your money once you have suffered a huge single trade loss.

As I looked through the systems and all the back tests, it became clear that some had huge losses at times, and so I could avoid try these systems at all. Back testing results are usually available before making a purchase and you should be carefully looked through. It is much harder to come back from a huge loss than it is from several very small losses.

An important feature would be, does the currency trading software detect changes in the spread of the currency pairs? If so does it take that into account for the positions that it takes? This means if the strategy is based on taking 10 pips a trade and the spread moves from 3 pips to 8 or more, does the trading robot know this and stop taking trades?

The systems that provide live results are the ones with the most to lose, they are putting it out for the world to see. They also are the ones that will offer your money back if it does not work for you. I have found several automatic forex trading systems that have proven they can make a profit over and over again.