The premises and technologies behind forex robots have proven profitable, but the unfortunate reality is the technology behind the best forex robots isn’t widely available to the public. So while forex robots are profitable, when we talk about the ones that are consistently profitable, that do things that would make a trader’s head spin, we’re probably talking about the forex trading systems that hedge funds and investment banks used to trade nearly every second of every day while making millions of dollars.
Good luck getting your hands on that kind technology. It’s almost unfair to call the trading systems used by hedge funds and banks “forex robots.” These firms spend millions of dollars developing these systems and the systems’ ingredients are kept under lock and key, making them nearly impossible to copy.
With that in mind, let’s have a further look at the profit potential of forex robots.
What Are Your Expectations?
The big problem a lot of forex traders have with forex robots is managing their own expectations for the kinds of profits a forex robot is actually going to deliver. And this is not really the trader’s fault. After all, the sales pages for forex robots are loaded with all kinds of data and alleged proof that forex robots are money makers. It’s not uncommon to see a forex robot that claims to generate winners 80% of the time. Some even go so far as to say that they churn out winners 90+% of the time.
Of course when traders see this data, they think that forex robots are great and any forex robot that says it has winners 80% of the time is simply awesome. Unfortunately, these results come from simulated trading or back-tests and as we’ve said so many times before, those environments aren’t good enough when it comes learning about a forex robot’s profit potential.
What’s The Bottom Line?
Yes, SOME forex robots can make you money, but please don’t approach shopping for a forex robot with thought that a product that costs between $100 and $200 is going to make you a millionaire overnight or at any point for that matter. The best you can hope for when it comes to a forex robot is a product that is versatile and has the ability to trade successfully across all market conditions. A forex robot that can do those things is a trader’s dream and it’s hard to ask for much more.