For quite a long time, even the most reputable Forex traders used to say things like "it is not possible to profit from an automated system", "computers aren’t made for trading", "the only way to succeed is to trade manually" etc.
Please understand that this article isn’t written to sell you anything, but if you think about it, these statements don’t really make any sense – how can someone say that something is "not possible from their experience"? If one doesn’t succeed in something, it doesn’t mean that it’s not possible, it just means that he or she didn’t put enough effort into it.
Fortunately, these statements have already been proven wrong, although not that long ago. There are even a few commercially available systems, which can produce really consistent results without much work on the trader’s side.
This sounds great at first, but it’s not THAT easy – doubtful internet marketers have quickly realized that they can sell just about any losing signals generator if they make the sales page look good, so the situation nowadays is that more than 95% of the automated systems sold online nowadays aren’t capable of producing long-term results.
Even nowadays, most people still get impressed by very short-term results or by bold promises, instead of doing research on their own – that is a HUGE mistake though. Remember, you will never be able to tell whether or not a trading system is worth anything just by reading the salesman’s promises – the only two ways to tell the difference is to either research other people’s reviews, or to investigate a verified, live account statement older than 12 months. We personally recommend you to do the latter, as other people’s reviews can sometimes be misleading (for example, our best performing EA in our portfolio has not been getting the best reviews, yet, it performs very well in the long run).
So if you decided to trade automatically, what should you look for in the trading system? If you are serious about making this work for you, there is only one correct answer – CONSISTENCY and PROOF OF PROFITABILITY. First off, if the system’s website doesn’t contain a verified, live account statement, your best bet will probably be to stay away from it. Also, you should always prefer a system with a live account history of 12+ months, which may not be as profitable as another system, which has 2-3 months history though.
We’re looking forward to meeting you at http://www.ForexMeetingPoint.com !
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.