By Dick Aronson
If you are reading this article you have more than likely already heard of the massive foreign currency trading market which according to Wikipedia has a daily turnover of $3.98 trillion a day.
Maybe you have done some research, or even already had a go at a little trading.
If you have then you know how hard it is to make money trading forex, so unless you have very deep pockets, an infinite amount of patience and total control of your emotions you are now looking at automated forex systems as a possible means of getting an extra income from this incredibly rich market.
Well there are many forex robots out there, new ones appear and disappear with alarming regularity. Unfortunately most look pretty good as long as the market moves along fairly smoothly but as invariably happens, as soon as there is a spike in trading such as can be caused by market news or government intervention you can lose your entire bank.
There are a number of semi automated forex trading systems around which can offer better results, they provide you with forex signals, charts and other forex indicators which enable you to make supposedly informed decisions.
However once again they depend on your being able to learn the system, spend a lot of time watching and then control your emotions. The latter is particularly hard as virtually no one likes to make a loss which results in people riding a trend too far in the vain hope that it will turn around and thus losing even more of their hard earned cash.
So what are we left with, we know there are some highly successful forex trading software systems in use by some of the major players in the currency markets but I have never come across one available to the public.
Early last year I thought I had come across a sensational new automated forex trading system developed by a company which released it's software to the market in October 2010.
I was introduced to the developers by a good friend just before the software was released and invited to come and have a look around their offices. As it happened I was actually there when the Japanese government intervened in their currency and watched in amazement as the US$/JPY exchange rates went absolutely nuts.
Millions of dollars were lost by some in mere moments but after an initial relatively small loss, the system handled the situation extremely well with minimal losses. Most impressive.
I was shown a fair number of actual accounts operated by the company's directors with their own money. Some had trading parameters set at higher risk levels and showed an incredible 120% profit per month, some were set at what I was told extremely conservative levels and these accounts showed a mere 20% profit a month!
What would you give to make a comfortable 20% a month on your capital without having to do a thing?
I'll tell you what I did, together with my business partner we immediately bought 3 systems and started trading with excellent results.
Unfortunately, along came the trouble in Egypt followed by continual problems in the Eurozone and what had been a fantastic trading system came crashing down and even though we changed the software's settings to extremely conservative, we lost all of our invested capital.
Lesson learned, even with years of successful trading behind a system, unusual circumstances can still cause you major losses in the Forex market.
To summarise, I don't believe there is a risk free forex trading system available to the public.
There are lots of claims and there is lots of so called evidence to back those claims but I do not know of even one system that can provide conclusive evidence of profitability over any length of time.
My advice therefore is if you can't afford to lose your investment, don't go into currency trading.
Dick Aronson is a long time business consultant with considerable experience in both conventional and online marketing, computerized business and finance. He has tested a several leading forex and stock market trading systems and has published more than 40 articles. Dick also runs a number of websites, viz: http://www.sendmoneycheap.com and http://www.life-wave-patches.com
Article Source: http://EzineArticles.com/?expert=Dick_Aronson
Maybe you have done some research, or even already had a go at a little trading.
If you have then you know how hard it is to make money trading forex, so unless you have very deep pockets, an infinite amount of patience and total control of your emotions you are now looking at automated forex systems as a possible means of getting an extra income from this incredibly rich market.
Well there are many forex robots out there, new ones appear and disappear with alarming regularity. Unfortunately most look pretty good as long as the market moves along fairly smoothly but as invariably happens, as soon as there is a spike in trading such as can be caused by market news or government intervention you can lose your entire bank.
There are a number of semi automated forex trading systems around which can offer better results, they provide you with forex signals, charts and other forex indicators which enable you to make supposedly informed decisions.
However once again they depend on your being able to learn the system, spend a lot of time watching and then control your emotions. The latter is particularly hard as virtually no one likes to make a loss which results in people riding a trend too far in the vain hope that it will turn around and thus losing even more of their hard earned cash.
So what are we left with, we know there are some highly successful forex trading software systems in use by some of the major players in the currency markets but I have never come across one available to the public.
Early last year I thought I had come across a sensational new automated forex trading system developed by a company which released it's software to the market in October 2010.
I was introduced to the developers by a good friend just before the software was released and invited to come and have a look around their offices. As it happened I was actually there when the Japanese government intervened in their currency and watched in amazement as the US$/JPY exchange rates went absolutely nuts.
Millions of dollars were lost by some in mere moments but after an initial relatively small loss, the system handled the situation extremely well with minimal losses. Most impressive.
I was shown a fair number of actual accounts operated by the company's directors with their own money. Some had trading parameters set at higher risk levels and showed an incredible 120% profit per month, some were set at what I was told extremely conservative levels and these accounts showed a mere 20% profit a month!
What would you give to make a comfortable 20% a month on your capital without having to do a thing?
I'll tell you what I did, together with my business partner we immediately bought 3 systems and started trading with excellent results.
Unfortunately, along came the trouble in Egypt followed by continual problems in the Eurozone and what had been a fantastic trading system came crashing down and even though we changed the software's settings to extremely conservative, we lost all of our invested capital.
Lesson learned, even with years of successful trading behind a system, unusual circumstances can still cause you major losses in the Forex market.
To summarise, I don't believe there is a risk free forex trading system available to the public.
There are lots of claims and there is lots of so called evidence to back those claims but I do not know of even one system that can provide conclusive evidence of profitability over any length of time.
My advice therefore is if you can't afford to lose your investment, don't go into currency trading.
Dick Aronson is a long time business consultant with considerable experience in both conventional and online marketing, computerized business and finance. He has tested a several leading forex and stock market trading systems and has published more than 40 articles. Dick also runs a number of websites, viz: http://www.sendmoneycheap.com and http://www.life-wave-patches.com
Article Source: http://EzineArticles.com/?expert=Dick_Aronson
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