You will see lots of mechanical Forex trading systems online and they really call themselves Forex robots or expert advisors, they sell for a hundred dollars or so and offer you an income for life effortlessly, but they all have a lethal flaw that turns user accounts to dust – let's look at it.
The problem with the cheap Forex robots is that they claim big gains but never made any real time, and not one of them can produce a revised, long-term track record to back up the claims they make.
They either just say that they've made gains and deposited bank statements, or produce meaningless backward simulations knowing all closing prices. Of course, knowing where each high or low was 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 raw, trading for a short time frame, and because the system has been bent to fit the data going backwards to make a profit, it's area suffering, money management; the result in real-time trading for the user is a quick wipe-out of equity.
It's a nice fantasy that pays a hundred dollars or so and makes money while sleeping, playing 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 merchants fail without effort. You can win by Forex trading, but you have to learn the skills and the good news is that anyone can learn to trade fast and get on their way to a big second or even life-changing income in just 30 minutes a day.
Make a bet and you will be well rewarded, make no effort and back and forth with a mechanical Forex trading system and you will lose – it is as simple as that.