Forex robot scams encompass Expert Advisors also famously known as EAs and other automated trading systems. With a push of a button, the forex robot runs continuously, making trades signaled by mathematical algorithms applied to past price history. In order words, they run automated mechanical systems, whether or not the user is in front of the computer or not.
The problem is that forex robots and their pre-wired thinking do not compensate for ever-changing market conditions. Market behavior is dynamic, constantly moving in an infinite variation of three movements: Most robots are not programmed for all environments, or to recognize a change in the trading environment. As a result, losses occur and they can be huge if not closely watched or managed.
For the chance to make ridiculous money??? That sounds like a bargain! Sure, it might look highly profitable. However, in the forex market, there is no such thing as a consistent market.
Conditions are changing all the time. The past has little effect on the future in a changing market. There are too many variables to consider. Beginners know nothing about trading or how forex markets behave, so they will not understand how the robot works, what environments they are best suited for, or how to tweak and adjust the system. It is best to actually learn how to trade consistently before you make the decision to let a program do it for you.
Think about it this way: Would you give a total stranger with no brain to boot! Shoot, even the quant funds and algorithmic traders on Wall Street can lose money, and they have Ph. Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.
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