Automated forex robots – do they work?

robot pictureThe latest investing “trend” seems to be in automated forex robots. In other words, you buy a piece of software, put some money into your account and let the software do the trading for you. Is this for real?!

Doitinvest.com wished it was so. But as usually, nothing is what it seems. Let’s put it straight – if you, our investor and blog reader, would have such a tool (which is claimed to have generated up to 1 million dollars in one year), would you sell it?

I think not. First of all, you will have such an amount of money, that you wouldn’t care about selling anything ever (imagine – 100,000 grants per month). Secondly, these tools work against the mass trends, so if you have it it is in your interest NOT to reveal it, otherwise it might not work anymore. If 10,000 people do the same thing, forex trading will not generate any more speculations, but will be the overall trend and nobody would make any profits any more!

At last, but not at least, we at doitinvest.com think that this is a hell of a tool, but faraway from being fully automatic. It means that you have to sit there and actually do something, otherwise the robot will make all the profits (and transfer them to the software writer, not to your credit card).

Of course, these self-made millionaire forex traders will claim that this is not a scam (usually they add something to the scam, such as “multi-level marketing” or “false accounts”). They add something because this is a scam, but not of the type they mentioned, so that they are legally protected :). But our research at doitinvest.com and our common sense shows that there is no such an auto-pilor forex trading on the market. It would be countereconomical and would actually cancel its value proportionally with the number of users… So all this marketing is just to make you pay a hell of a lot of money for a normal forex trading tool…
Article originally published by doitinvest.com

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