Beware of the Back Test Simulation!

They fall for the simulated track record and a prime example of this is the automated forex expert. Just turn on your computer on, install the software and make a mint from their Forex robot. The track record always looks good – but it’s not REAL! Check the risk warning and you will normally find it’s a simulated back test on paper knowing all the closing prices. How hard is it to make a profit with all the facts to hand?

Not hard at all I could be a multi millionaire, if I knew tomorrow’s closing price today but you don’t get this advantage in real time trading! So why on earth would you trust someone with your hard earned cash, if they have no proof of making money for themselves? A huge amount of traders do trust them and they get wiped out.

You don’t get financial freedom for $100 and no work on your part, that’s not the real world that’s fantasy. If you are looking for a Forex expert advisor always look for proof they are traders and not just marketing companies pedalling meaningless simulations.

The Real Role of an Expert Advisor

Is to give you the skills that you can apply yourself with confidence and discipline to ensure your trading success. Trading success is dependant on you and your discipline – let me give you a motivating example of this and how anyone can with the right Forex expert advice.

In a famous trading experiment trading legend Richard Dennis taught a group of people with no trading experience to trade in 14 days and gave them trading accounts. The result was they went on to make $100 million in profit! So what did Dennis do to ensure success?

He taught them a system that was simple, so simple in fact that anyone could learn it but he knew this was not enough – they would have to apply it through losing periods and for this, you need confidence in what you are doing to trade with discipline.

Most of the traders when interviewed noted the system was easy to learn – but following it with discipline was the hard part and it is. This is why Dennis didn’t just tell them to follow him blindly – but learn the system and how it worked to give them confidence.

Most traders today are looking to make money with no effort and that’s not real life.  They expect a Forex expert advisor to make them rich but don’t realize it’s up to them. You can get forex education all over the net but most of it is worthless, so find a trader who can teach you tools and skills you can apply and you could be on your way to a triple digit income.

By: kelly Price
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