Mechanical Forex Trading systems - Why 99 Percent Sold Don't Work

If you look online you will find lots of them all claiming you will make money but the fact is 99% of the systems sold don't make money and if you are thinking of buying one, then you need to read this article. Why don't they work? It's simple:

They have never been traded and normally carry this or similar - read and digest it:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Check the forex trading systems sold by vendors and you will see this and what use is it?

It's no use at all.

We can all make track records up if we know the closing prices but that's not the real world of forex trading.

I am amazed that people trust a trading system that has not been traded, when they would laugh at a person who tired to teach them to drive who hadn't past their driving test! It's the same concept - but people in forex markets tend to let greed blind them and then they let themselves fall for the advertising hype:

- Make a six figure regular income
- I made $7,000 last week
- 80% profits guaranteed
- No Losing months

Yeah right - I have been trading for 25 years and forex trading is hard and you would expect it to be with the rewards on offer. You can win but you won't win buying a useless, back tested, curve fitted bit of software from a vendor who, has never walked the walk.

If You Want to Win - Do Your Homework!

You get nothing in life without effort and your forex trading strategy is the same, you need to work at it and put in some effort. If the above mechanical trading systems made money, no one would bother to work; we would all spend a few hundred bucks and be rich.

Forex trading offers you a life changing income, the rewards you can make can be life changing - but it's a challenge and you must put in some effort to get a reward.

So go and get yourself some proper forex education, learn forex trading the right way and you can enjoy success it really is that simple.