Recently months the very most discussed topic in Malaysia is FOREX ROBOT. Even those who know nothing about forex trading are talking or subcripting a self claimed local developed Forex Robot. I received calls from Penang and Kuala Lumpur about the Forex Robot. When I asked few questions on this forex robot, most of them do not know what it’s about!!!!! Serious problem now…..Another Forex Scam in Malaysia ?? As a forex trader in Malaysia, I have my curiousity to understand so called the local self developed Forex robot….. My Findings are ……

1. Yes, making money 20%,30%,40% a week…..The account was running for about 2 weeks.

2. Big Stop Loss, Small Profit Take ……. small profit still managed to cover the big losses at this moment…

3. The company charge additional 3 pips commission for every transaction.The forex robot open 4 to 5 trades a day…..Wow good money for the company

4. Use MLM system to distribute out portion of the 3 pips commission. Wonder why the business spread so fast , even forex “nut” are heavily involve ……Good money as well for those introducer has lots of downlines….Passive Income…

5. My advise is USE IT WHILE THE FOREX ROBOT STILL WORKING…… As a experience forex trader view, the forex robot can cause account BURST anytime….When ?? I don’t know !!!!!!! Use it wisely……..After making money, LEARN HOW TO TRADE FOREX MANUALLY…..

What Is Forex Robot

Now in days we hear so much about easy earning with just purchasing a fx robot to do the work for you. Well let us first define what a forex robot is: it is a foreign exchange automated trading program that uses sophisticated short-term algorithms. These algorithms are mostly designed by professional Forex money managers and traders.

The forex robot helps you earn money and not having to keep an eye on the market. You can invest in short-terms or in long-terms; you will just need to set the Forex robot fit in your needs. Regular investors are into this and now in days it has become a debate if it really works. But remember Forex is always a game of probabilities and well you can make money and as well lose money. Nothing is 100% certain. Forex robots are used mostly for investor who lacks of experience in the market and it is a very good way to start investing.

Thanks to the Metatrader forex trading platform forex robots has become a reality. Metatrader is a trading/charting station used by many brokers and also comes with a programming language called MQL4, and this allows the trader to write their own custom indicators and trading systems (called expert advisers). Expert advisers will automatically place trades according to your rules and this program can run 24×7 on complete auto pilot (no human intervention).

I advise you to always test the Forex Robot, you can do a forward test; all you need to do is open a free demo account with any broker and just run the Robot and see its results. Remember that there are so many forex robots, actually every week you can see new forex robots being launched out there, and you need to test each one to see if they are trustworthy. In this case we need to research the market to determine the use of the robot and how it can fit in our needs.

Now remember that the forex robot has been program by a specific parameter that the manufacturer has set, so it runs in auto pilot with no flexibility in the market. In other words, the forex robot do not adapt to a fluctuation that a market can present. That is why it is very necessary to know trading skills for we can adapt ourselves to the behavior of the market. WealthLab is a system that helps us set specific parameters for the robot, and that enables us to set limits in our trading. But to do this we need to have a strategy ourselves and know how to invest.

A very important criteria about forex robot is that it can trade 24/7, so you do not need to be in front of your screen and it trades for you when you may be out, sleeping, eating, etc. also you can trade in multiple systems.

What is a difference between robots and humans? Well we humans have feelings and our psychology plays an important role in our investments. Since we know the value of money and the effort we had to pay, we want to secure our investments. So we trade with our emotions and that is a difficult position to be in, a professional trader must not be taken away from its emotions, so that is where a robot can have a good use or bad use. You can find a robot a trustworthy path or not.

Invest in forex is more than an algorithm parameter.

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