I remember when I first started forex trading. I was no different than any other fresh-faced newbie. I loved the idea of trading. I just wasn’t that crazy about the actual “work” part. I tended, (like most new traders) to fall for every shortcut that was around. The king of all trading shortcuts has to be automated forex trading robots.
After all, you are talking about software that will automatically trade the forex market for you while you’re playing golf. Ah…..just like our forefathers did (excuse the sarcasm). Don’t get me wrong. I love the concept of this. Who wouldn’t? Being rich without any of the work. Where do I sign up? Unfortunately, everywhere.
This has become a huge craze in forex trading, and I think it’s probably the number one reason why 95% of the trading public is losing money right now. It exemplifies what’s wrong with the mindset of most traders: A quick and easy way to make money without lifting a finger.
Let me ask you something? Do you actually know anybody who’s had any kind of long term success with these things? If you have, let me know. I would love to meet them.
Let’s destroy the myth once and for all. The markets are not programmable. They can’t be run on autopilot. Believe me, I wish that wasn’t the case. I have families, friends, and hobbies that I would like to spend more time with.
If you want success in the market, you are going to have to understand (literally) them. There are no shortcuts in trading, just as in life.