September 23, 2010

Automated Forex Trading Robot is a Scam?

By Planet Wealth

I’m a novice forex trader who just started trading forex a week ago. I was wondering if anyone had heard or tried the automated forex trading robot like this one http://forextrading.wellexplained.info/ I’m so much attracted to it and plotting to get one and try it myself. I read some reviews on it and all of them were positive.

Have you tried it before? Worth buying? Should I give it a go?

Topics: trading tips | 2 Comments »

2 Responses to “Automated Forex Trading Robot is a Scam?”

  1. Joseph T Says:
    September 23rd, 2010 at 12:50 am

    I’ve been trading forex for nearly 8 years now, I believe in proper Forex education than anything. If you really wanna make profits from Forex, learn it and trade it yourself. Experience makes you a better and successful trader. And no, I’ve never tried that piece of script that promises so much of gains in a month. But one of my friends did. Yeah, he did make a profit of about 80% in one trade, but he lost nearly 90% of his investment in the other 6 trades. Script is still a script, it’s written by human based on historical data. More info, refer to http://www.squidoo.com/forex-robot-trading-system-scam/

    Therefore, if you really wanna do well trading Forex, learn what Forex is, how Forex works, learn the charts, study the markets, and be courageous to trade, remember high risk high return. You should get a proper Forex education like this http://www.squidoo.com/the-forex-kingdom-review/ rather than counting on a trading robot.

    Excellent luck in pursuing your forex riches.

  2. JWilly Says:
    September 23rd, 2010 at 12:50 am

    You could say that if this software really did work then there would be a lot of rich people walking around.

    I look at it this way: if I had it and it really worked, I would keep my mouth shut because too many people doing the same thing in a market will screw it up. If I had it and it didn’t work and somebody questioned me if it did, chances are I would just tell them that it does just to keep from revealing I made a stupid mistake. Besides, anyone can write a review or the vendor could be writing them.

    I agree with the first answer – reckon for yourself.

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