Automated Forex trading systems are becoming the elixir of 2nd century get rich schemes. In the 1800s, vendors went from one place to another selling all kinds of potions and elixirs to cure all kinds of problems that ailed people. Many of the products developed in those days included snake oils. Therefore, sellers of snake oil.
The snake oil they were selling was mostly cheap diluted alcohol and it was cheap which is in keeping with Forex automated trading systems.
Unfortunately, the Forex market has its snake oil salesman and they provide a very good service to the industry in particular to the brokers. Just like the gaming tables in Vegas need new people to fill the chairs, Forex brokers need new pockets to empty. Automated systems empty the pockets of new Forex traders by trading systems that don’t work.
Many Forex newbies are lured into the market with the promise of profit without spending a lot of money. We all know that this is not possible, but thousands, if not millions, bite. For $49.00 we can buy a Forex trading system that trades 24/7 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 go!
Like the sick person in the 1800s 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 you tell yourself you can afford to lose, but can you? Most of us want the easy way out and most of us know there is no easy way out. However, we tried it 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 in the Forex market. They are more interested in trading a product to thousands for $49.00 than making thousands of dollars for those traders.
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 at Forex.