The foreign exchange (also known as "forex" or "FX") market is the place where currencies are traded. The overall forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world.
Forex autopilot trading software offers robot-driven automatic trading of the forex market. Creators of these automatic trading systems claim that you can make easy profits with little time invested, and without having to understand complex algorithms. In this light, I will show you how to determine if a forex autopilot or robot trading system is legitimate or a scam.
First of all, any forex trading system software that guarantees easy, consistent profits is an outright scam. The forex market, like the stock market, consists of too many random factors. Anyone who therefore promises to be able to read the future like a fortune teller is clearly a liar. Forex trading is similar to gambling. But what successful forex robot systems can do, is boost the odds slightly in your favor. Then, there will be a slight probability that you will make money over the long run.
However, past success is NOT at all an indicator of success in the future for a forex autopilot trading system. Scientifically, this is because the forex market has "no memory", therefore, the future and past are unrelated. Just because an advertisement shows you an incredible "historical track record" does not guarantee future success. This is why legitimate forex robot trading systems will have a disclaimer that there is NO guarantee of profits and also that the product is for educational purposes only.
FAPTurbo
FAPTurbo is a forex robot that hit the forex market tremendously and is causing quite a stir in the forex world by trading forex totally on auto pilot. No forex experience or technical knowledge required.
This is an honest review based on personal experience on the much talk about forex money doubling robot; The FAPTurbo and the Forex automated trading industry.
FAPTurbo is a very high-end automated trading system, often referred to as a Forex robot, with capabilities rivaling institutional grade systems. Fortunately, FAPTurbo will not cost you the millions that's typically spent by the big industries to develop these systems because Fapturbo lets you get in on the action for pennies on the dollar compared to it's worth.
Do Forex Robots Really Work?
Before I go any further I want to address what is probably the biggest question on the minds of most readers and that is, do automated Forex trading systems, often called trading robots, really work? The answer is 99% of the time NO!
Trading systems are VERY difficult to develop and it will NEVER get any easier. The plethora of trading systems being peddled at any given time might lead you to believe it's either fairly easy or a complete scam. The truth is, it's not at all easy and yes, most of the systems out there are complete scams. So what about that other 1% ?
Developing successful automated trading systems requires significant skill in not only the Forex market (mostly technical analysis), but also graduate school level calculus, statistics as well as a great deal of experience with software engineering. With the right skills it can be done. Why else would the large Wall Street firms spend tens of millions of dollars a year developing them? If you do a job search for Wall Street programmers who develop trading systems you'll see what I'm talking about. $250K (bonuses included) per year is not uncommon!
Does FAP Turbo Work?
The truth is there is nothing in the market that even comes close to the performance FAPTurbo claims to delivers. The willingness to show you live updates every 15 minutes on its performance is a huge step to the credibility of skeptics. Examples of 3 real trading accounts with live proof of performance that can be viewed on the website:
• $370 Turning Into $7,300 - In 2 Short Months
• $2,500 Turning Into $8,700 - In 45 Days
• $5,100 Turning Into $25,100 - In 30 Days
Can it double your money in 30 days?
While FAP Turbo has indeed doubled accounts in as little as a month, and they're willing to prove it, is it realistic to expect these kind of returns every single month?
Sure, it's possible, it's possible you could even outperform their results, but the reality is you'll probably not see returns like this every month, even for this impressive piece of software.
But the reality is that this software performs so well that even with a fraction of this performance, add to that the compounding effect, and your account is going to grow like nothing else you can imagine.
The important point is that if you use FAP Turbo properly you will very likely make some very serious money in a relatively short period of time. The good news is you don’t need to trade real money without having tested the robot on a demo account and the support crew is marvelous.
Any trading system that is reluctant or unwilling to show live proofs of its activities is probably not as good as it claims. Worse of all, if they cannot have a money back guarantee period to try out the software risk free, then you probably should not even waste your money on such products.
FAPTurbo Live Trading Proof-Why is it important?
FAPTurbo has done something unprecedented in the retail Forex robot industry and that is to show live PROOF of its performance claims by posting live trades for a real money account to its website at regular 15 minute intervals!
Most trading systems on the market show back-tested results designed to amaze us into a purchase, but the truth about back-tests is that they are often used to deceive less knowledgeable traders into thinking a trading system is better than it actually is.
If you're unfamiliar with back-testing, it's basically the process of testing a trading system on historical data over some past timeframe and using it as an indicator of possible future performance. While back-testing is a very powerful tool and helps significantly in the creation and testing of trading systems, it's also a fairly complex procedure that has limitations.
The problem is that back-testing is a far more complicated issue than most people understand and as a result many unscrupulous system vendors have taken advantage of this lack of understanding to manipulate the perceived performance of their trading systems for marketing purposes. The result is that back-tested results on their own simply should not be trusted when read on a sales letter from a system vendor. Period.
The key lesson here is that testing a system on past data does not always tell you how well it will perform on future data which is why it's vital to forward test your system with a real money account, just like the FAP Turbo guys are doing live on their website.
There is simply no other trading system I know of that is willing to stand behind their claims like FAPTurbo is doing and it's probably one of the reasons why FAPTurbo has become one of the biggest selling Forex robots in history.
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