Why Forex Mechanical Robot Systems Don’t Work

Why Forex Mechanical Robot Systems Don’t Work
Anyone familiar with the world of forex trading has undoubtedly come across a website selling a forex trading “robot” software program. Such programs try to completely automate the art and skill of forex trading so that the only thing required of the user is pressing a button when they are told to. The reason why there are so many of these forex trading robots for sale and why they all sound so good is because it is an easy thing to sell.
It is very easy for internet marketers and scammers to design a nice looking webpage full of big claims about how much money you will make if you just buy their product. It is also very easy for the creators of these forex robots to back-fit their trading software to a specific time period in a specific currency pair so that it appears to produce amazing results. They then show these results on their webpage and imply that you will experience the same type of success by simply buying their product and installing on your computer.
If it sounds too good to be true…..it probably is. This old saying is no more relevant to the world of forex trading products than it is to any other. To believe that you are going to consistently make a lot of money by blindly following some strict set of trading rules dictated by a piece of computer software is almost comical. Yet many many aspiring forex traders fall prey to the scam of forex trading robots each day. The problem is that everyone wants to make money easily, and forex trading SEEMS like an easy way to make a lot of money, so it is a very easy thing to sell to people. However, nothing worthwhile is easy, and forex trading success is no different, it takes years of discipline and effort to become a professional trader.
So why is it that forex mechanical robot systems don’t work? Well…the primary reason is that there are virtually an unlimited amount of variables that influence price movement each day in the forex market. If you consider the fact that each market participant is a variable because of the fact they could possibly enter a trade and influence the market, and then consider that every single thought about the market that every single market participant has is a potential variable, it becomes evident why it is simply futile to try and encode or program the forex market. To put it succinctly, you cannot control the uncontrollable. Trying to make a computer program that can accurately predict human cognitive responses to price movement is simply not possible at this point in time.
It is best to save your money on these very expensive forex robot systems and invest in more common sense, logical, and time tested forex systems. The trick to successful forex trading is that you do not need to spend a ton of time searching for that “holy-grail” trading system. You only need to find a definable market “edge” that gives you a relatively high probability entry method. The biggest portion of successful trading is made up of sound money management and developing the proper trading mindset. Most traders end up spending most of their time on trading system development and little if any time working on their discipline and money management. Don’t fall into the trap of expensive and useless forex trading robots; use simple forex trading strategies based on price dynamics and support and resistance levels, once you acquire this knowledge begin working on your trading mindset, continue putting most of your time into perfecting an objective trading mindset and less time on system development and you will have a much better chance at consistent forex profits.