You will see many Forex Mechanical trading systems online and they are superbly called Forex Robots or Expert Advisers, they sell for a hundred dollars or so and offer you a lifetime's worth of effortlessly, but they all have one fatal mistake that turns consumer accounts to dust – let's take a look at it.
The problem with cheap Forex robots is that they claim big profits but have never made it in real time and neither of them can create a long-term audited, long-term experience to back up their claims.
They either simply say they have earned and posted statements of account, or they make pointless back-and-forth simulations, knowing all the closing prices. Of course, when you know where each one is high or low, it is not difficult to make money, but in live Forex trading you do not know this key information!
I've seen almost every Forex robot and when you look at them, the algorithm is usually harsh, traded for a short period of time, and since the system was bent to hold the data going backwards to make a profit, the area that is suffering is money management; the result in real time trading for the consumer is the rapid deletion of equity.
It's a nice fantasy to pay a hundred bucks or so and make money while you sleep, play golf, etc., but it's nothing more than a dream; the reality is that you do not make money in a market where 95% of traders fail effortlessly. You can win Forex trading, but you need to learn skills and the good news is that anyone can learn to trade fast and get to a great second or even a life-changing income in just 30 minutes a day.
Make an effort and you will be well rewarded, make no effort and arrange and win with a mechanical Forex trading system and you will lose – it is as simple as that.