Automated Forex trading systems are becoming the elixir of 2nd century enrichment schemes. In the 19th century, the vendor would go from one place to another selling all kinds of potions and elixirs to cure all kinds of problems that afflicted people. Many of the products developed in those days included snake oils. So, snake oil sellers.
The snake oil they were selling was mostly cheap diluted alcohol and it was cheap, which is in keeping with automated Forex trading systems.
Unfortunately, the Forex market has its snake oil seller and they provide a very good service to the industry, in particular to brokers. Just like the gaming tables in Las Vegas need new people to fill the chairs, Forex brokers need new pockets to empty. Automated systems empty the pockets of new Forex traders through trading systems that don’t work.
Many Forex newbies are lured into the market with the promise of making a profit without spending a lot of money. We all know that this is not possible yet thousands, if not millions, bite. For $ 49.00 we can buy a Forex trading system that operates 24 hours a day, 7 days a week and never loses. You don’t need to know anything. Just put some money in a brokerage account, speed up the automated system and let it break!
Like the sick person in the 19th century who bought a bottle of Old Tom’s Cure Anything ointment for 25 cents, even though we know it won’t work, in the back of our minds we think, what if it works?
This is like going to Vegas with money that you tell yourself you can afford to lose, but can you? Most of us want the easy way out and most of us know that there is no easy way out. However, we tried anyway.
Simply put, automated Forex systems don’t work because they compete with each other in markets that have very little liquidity. In essence, they eat each other and the only winner is the Forex broker or the snake oil salesman. However, the Forex snake oil salesman doesn’t tell you this, he tells you all about how good it will feel to make money on the Forex market. They are more interested in marketing a product to thousands for $ 49.00 than in earning thousands of dollars for those merchants.
You can win at Forex, but you need a real trading system and a real understanding of Forex. This can be done and with the right system and teaching in less than a year. Take the time to learn and find the right trading system for you and you can be a winner in Forex.