The first answer to Can You Make Money by Using an Automated Forex Trading Robot is a clear NO! A Forex Trading Robot is not going to be able to replace you!
Lots of new traders want to use an automated Forex trading method just because they are told it is an easy road to making money. They are usually told that they can start with a couple of hundred dollars and become a millionaire in a couple of months.
Now, these same people that tell these stories are usually the ones that fail. That is because, either they do not understand the true nature of Forex or they do not take the time to properly learn Forex trading. There are many Forex trading signals and Forex trading courses on the internet today, but how would a novice trader know which one to choose?
The key is to educate yourself on Forex trading before you start trading. It is extremely unfortunate that so many people think they can just jump in and become a millionaire overnight. The Forex market is no play area for those who want to become millionaires quickly!
How Can You Make Money by Using an Automated Forex Trading Robot?
The truth is, that yes, you can make money by trading currencies with automated robots. But, the snake oil salespeople that are looking to make a quick buck off of unsuspecting new Forex traders are so good at it because with the right set of instructions, their salespitchcan fool them into thinking that automated robots don’t need to eat or sleep or take a break fromimeshe are only making a few hundred bucks a month.
Eventually, if you develop an interest in the Forex market, you will most likely execute a trade manually. That is because even though Forex trading can be very profitable, it is also a type of gambling and if you blindly trade currencies without knowing what you are doing, you will find yourself going into a few heavy losses.
Automated Forex trading robots were developed so that you don’t have to become an expert Forex trader. Forex trading robots are so advanced and complex that winning trades only occur occasionally but the winning trades are usually huge because of the huge amounts of funds that are mostly automated.
Can You Make Money by Using an Automated Forex Trading Robot?
The answer is that of course you can make money by using Forex trading robots, but probably not in the beginning. Most people who try Forex trading find that they are pretty much up against the big boys with their own specialized developed trading systems. That is why it is so important to start with a demo account and use virtual money to avoid putting your money at risk.
As they say, when you fall into the trap of Forex, you better get out of it as fast as you can because you are never going to make any money in this industry if you don’t have some kind of code book and some knowledge of the industry. However, if you are a Forex beginner who wants to start making money right away, then read on because we are going to show you how to get the money-making power of a Forex trading robot.
You see, we have to remember that even the best trading system in the world only has a 50% success rate. That means that if you take 50 trades, you will need to have a total of 25 wins and 25 losses to break even.
Don’t be discouraged by that fact, because once you learn how to concentrate on a system, becoming a Forex trader is usually only a matter of time. Then you will be one of the Breakout winners in the Forex market and will begin to pump out the profits.
Forex trading is not a get rich quick scheme. It requires patience and discipline to make consistent amounts of money each and every month. This may not seem like much, but once you start pumping out this constant flow of income, the income starts to add up in a hurry.
The secret is to have a trading system that works for the long run, so that your risk is kept to a minimum and your winners will be bigger. Once you have that in your arsenal, you will need to tweak that system a little at first, but not much. When you find a system that works, don’t fight it if it has a few flaws, just tweak it a little and try to make it better.
When you first start to trade, a good rule of thumb is to only trade with 5% to 10% of your money. This way, you will not lose much money when you do suffer losses. Then, when you start making money, you can gradually increase you trading size and after some time you will be able to increase it to 20%. Just make sure that you are not tempted to increase it too much because you are still learning the ropes in Forex trading.
