Expert advisors and automated trading systems are the latest trendy ways of trading forex. For the life of me, I will never understand how human beings can let a robot do the trading for them. All of these forex autopilot systems are based on lagging indicators, such as moving averages, RSI, and many others. So not only is a robot doing the trading for you, but you are using a system that's based on past information, which offers no future insight into price movement.
Every forex trader who has been trading for over a month, I'm sure has heard this statistic: 95% of forex traders fail at making money. If the majority of people who are standing in front of their computers and are able to know about upcoming or breaking financial news and still can't be successful, then what makes you think that a robot will be as intuitive.
These kind of inventions were made for the times we live in. They market these autopilot systems so people would think that trading is so simple it can be done without any kind of human interaction. It sounds like such a novel, yet 21st century idea,. People think my computer is making me rich while I'm busy shopping. Well, it doesn't quite work like that. If you don't believe me, you can go to any forex forum and find hundreds of people working on expert advisors. You can see the stories of people that have dedicated years to building the ultimate autopilot system. The sad thing is they will never find it.
The forex market is constantly evolving. Maybe someday these trading robots will be as intuitive as humans. When that day happens I'll be the first one to give them the reigns to my trading account. However, until that day happens I'll stick with what's worked for me.
The real secret to forex trading is you. I was lucky enough to finally learn that the real key to forex trading is using price action. Once I was able to see a chart without indicators, it was like seeing the markets in a brand new light and finally enjoy forex success. You can read about how I accomplished this by checking out my squidoo lens.
Reuters - Massachusetts' securities regulators sued Fairfield Greenwich Group, a major "feeder fund" for Bernard Madoff's Ponzi scheme, accusing the hedge fund of lying to investors and not exercising enough diligence over investments that were worth billions of dollars.
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Automated Forex Trading
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