Trading with Forex Robots

When starting out trading forex not many of us are initially aware of all the trading robots or “expert advisors” which are out there. You initially try use some sort of technical analysis or fundamental judgement to come up with trading decisions and inevitably the human aspect comes into it where we are taken over by fear and greed, taking profits too early or not early enough and letting losers ride way to long in the hope it will come back, and before we know it we’re wiped out.
Then the more research we do the more we come across what seems to someone who hasn’t come across it before the holy grail of trading. Expert advisors which claim to take the emotion out of trading and can make you gigantic returns. They post claims such as turn 500$ into 90k% in 3 weeks etc We think ok maybe turning 500$ int0 90k is unrealistic but if they are saying that’s what its capable of surely it can increase my money 10 fold at least. Then you think 99 dollars to make maybe 5-10k must be worth the investment.
So this is what I did and most likely countless others do, and much to our shock and surprise it doesn’t quite pan out to what we think. Then we find other ones and that end up losing all your money and very rarely do you find one that can just make you a profit let along 1000% returns.
And once its too late and you have spent countless dollars on EA after EA, opening up new accounts, do you realise that most of products our there are just sales scams, with no real history or performance but more just fabricated evidence of the next holy grail in forex, selling the easy dream.
It can be very of putting and putting you off trading forex, when if traded correctly can be the dream.
The fact is there are some good ones out there, but they are dwarfed by the countless scam robots which are released every week. I learnt if it seems too good to be true, it usually is.
So beware, use forums and reviews when purchasing an EA don’t be sucked in by the sales hype on their webpages, or by affiliates trying to sell you these. The forex market is huge and the potential is huge so make sure you start your experience in the right way.