Auto Trading – The Forex Scam?
Auto trading has been given a bad rap in some trading circles, being labeled a forex scam by Forex scam some. Learn the facts and decide for yourself.
Auto trading is essential for 99% of the casual traders out there who approach and view currency trading as a second income. It’s just common sense that, as the market keeps very long hours and consequently practically never closes, you’ve got to have a constant pulse on the happenings within the market, as well as be able to act on it in a timely manner.
Many traders accuse auto trading as being a forex scam which can’t take the place of a broker. In fact, many publishers promote their programs as being affordable alternatives to employing a broker, hoping to woo potential customers away by appealing to their wallet. It’s obvious that auto trading programs are much more affordable compared to the chunks of commissions and fees that you would have to pay to a broker, but the real talent of the program lies in its abilities.
Auto trading programs are designed to accomplish two goals: constantly analyze the market and ensure that you land on the winning sides of your trades the vast majority of the time. They perform the same roles of that of a broker, and all you’ve got to do is put in a little basic input data and it’s off and running. If you are involved in a profitable trade and suddenly the market fluctuates out of your favor, your auto trading program recognizes this and trades away the now bad investment. It both maximizes your profits and minimizes your losses.
Having said all of that, there are a number of faulty, lemon programs out there on the market tarnishing the overall reputation. The truth is, however, that there are a number of gems in the market which turn out to be incredibly efficient safety nets, are constantly updated for free, and are consequently more than worth their purchase prices. While there are a number of naysayers which brand auto trading as a forex scam, currently over 25% of all traders in the market are using