Don’t Even Think About Buying A Forex Robot – Until You Read These 6 Tips
Forex robots do all the work for you and your only job is raking in the cash. Or at least, this is what hundreds of sales pages want to make you believe. Before you buy the ultimate software that’s going to make you a killing in forex trading, here are some short and quick tips to help you get the right one.
1. Know What To Expect And Be Aware Of Downsides
Before buying a robot, you should already know quite a bit about Forex. Otherwise it’s not going to help you. If you already understand the system, this will help you know what to expect. You not necessarily need to be a good trader in order to have success in using ea’s. But basic understanding is key!
2. You Know Its Good Sides – Now Find Out The Bad
What’s most important in a Forex robot? Not all the great results it will offer you (okay, they are most important- but a little bit later). Instead, the most important things are its flaws. You should find out first what the downsides are, because these will have a much bigger effect on your trading.
3. Beware Of Hyped Up Sales Pages
The Forex world is rife with hyped-up sales pages where marketers try to sucker you into buying their lousy products. The scam rate is high in this field, so watch out. One of the best things I can tell you is to at least make sure they’ve got good, responsive customer service and not just an email that doesn’t go anywhere. Just keep in mind that the seller may have only their best interests (yes my friend, that’s your money!) at heart.
4. Compare And Compare More
If they offer free demos or trial versions, take them up on it. Look at as many different products as possible and try them out. Read reviews and see what people are saying in forums. There are just too many products out there to choose from, so shop around. But even in reviews you should be vary. Many are nothing more than paid reviews or made up by someone to support sales.
5. Understand How It Works
IMPORTANT! These robots don’t work through magic. Each of them has a system that it uses to trade for you. Make sure you understand how it works. When you end up buying one, read up on it and learn how to use all of its functions. They have customization options, and if you know how to use them, you may can implement the trading strategy that suits you more or gives better results.
6. Don’t Buy A Forex Robot. Then Buy a Robot
This is the best tip of all. Do your own work and your own trading. Analyze the markets yourself. Educate yourself fully first on every aspect of currencies and trading; then, armed with this knowledge, you’ll know exactly which software program will get you the results you want. Armed with knowledge you can spot the (hidden) gems more easily and let the forex-scam-train passing by.