What I'm going to say today can appear like an earthquake... In fact, I really believe that it's not possible to make any money on the forex using an Expert advisor, a robot...
Right now you should be saying: is this guy insane?
No I'm not!
Indeed, on the internet more and more forex expert advisors are getting launched everyday. Some are scams some are not. But beyond that there's a point we must explore...
Can Expert Advisors be profitable on the long run?
And please notice that I'm saying "on the long run"...
Why? Simply because, most of them are actually profitable on the short term. In fact, i'm not saying that it's impossible to make any money using forex robots... I'm saying that it's impossible to make any money on the long run, on the long term!
Six months ago I was just like you, thinking that I was going to be able to make plenty of money just by opening a little forex account with a $2000 starting capital and then let run the forex expert advisor I would have chosen... And I was wrong... So so wrong!
As i'm really interested about the currency trading market, I decided to contact some real bank traders in order to ask them what they were thinking about expert advisors... And there came the little revolution... They all told me that it wasn't possible to succeed on the long run...
I asked Credit Agricole Traders, Deutsch Bank traders, Bank of America traders and they all gave me the same answer: you can't make money on the long term using Robots. And there are really simple answers to that point...
Because of course anyone can wake up one morning and say: "Hey Everybody! You know what? You won't make money with EAs!?!"
So here is what they all told me:
- They didn't even know what expert advisors were!! In fact, in the bank domain, absolutely nobody's using this kind of machine... Why? Because you can't rely on software... If it was possible, at first everybody's will be Bill Gates and bank wouldn't be hiring real people in order to trade...
- Then, forex robots are simply not able to be profitable on the long term because the currency trading market is actually ran by real people, by human being!
And softwares can't predict what the future will bring, it's simply impossible...
- If forex expert advisors are working on the short run it's only because their parameters are based on the current market situation... And in one year, the market will have changed and if the parameters don't change, be prepared to see big losses!
Hope this little article will make you realize that only work and the use of reliable forex strategies will make you succeed on the forex market in terms of long term!
Samuel.
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