Phil asked: www.rightnowreview.com has some ones that really catch my eye but I am not sure which one would be the best one for me. I really need to make money online to help pay the bills.
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on Monday, October 12th, 2009 at 7:02 am and is filed under Forex Robot.
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October 13th, 2009 at 7:48 am
all these are scams
Look if you want to make money…no trading robot will do it…
You want to trade the market then study it for at least 6 months and follow the trend…Its a no brainer.
October 14th, 2009 at 7:55 pm
Starting out with a robot isn’t usually a good idea. You’ll be much better off if you learn how the forex market works and how to trade normally before trying to automate anything…
October 15th, 2009 at 12:57 am
If you are a novice trader, please remember the following fact, which may save you a lot of money:
THERE IS ABSOLUTELY NO SUCH THING AS A PUBLICLY AVAILABLE TRADING ROBOT THAT DOES BETTER THAN RANDOM GUESSING.
This statement is not an opinion or conventional wisdom. It is a well-established scientific fact, with a reasonably convincing scientific proof. If you want to understand why, read “Capital ideas” by Bernstein. If you are up to a complex math, you can also try “Futures, options, and other derivatives” by John C. Hull.
Trading robots are in the same category as medications for immortality and perfume with pheromones–nonexisting “magic” products marketed by crooks to public, in an attempt to exploit insufficient education of the said public.
Historically, there were a few trading “methods” (robots, so to speak) that made money to their owners, but they were well-kept secret. Once a trading program becomes publicly accessible, all big traders can use it in their strategies, which means that it stops outperforming the market.
Your note that you need to make money in order to pay the bills sounds especially dangerous. It seems to mean that you cannot afford to lose money. Any financial advisor and any basic trading guide will tell you that YOU SHOULD NOT TRADE THE MONEY THAT YOU CANNOT AFFORD TO LOSE.
Please read more or talk with a financial advisor (which can often been done for free) before you dig yourself into a financial hole to the benefit of some inscrupulous crook with a trading robot.
October 17th, 2009 at 8:51 pm
You would be well advised to stay away from any automated trading system. Learn to trade the market by educating yourself and over time you will become more and more profitable and maybe then you can use it to pay the bills.