There are a lot of forex expert advisors to choose from online but which will really give you money? Let's have a look and learn…
The term best forex expert advisor is an advertising phrase and most forex trading systems call themselves expert advisors, but they lose almost all their money. We consider one of the best in a moment, but we see why the vast majority will lose money.
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All you need to do is to see which systems work and which ones do not and if you see any of these claims, then you are watching ads to see that the system will not make money:
– Double your money every month
– Trade with 90% accuracy
– Do business with little or no time lost
– Predict what the market will do in advance with sophisticated algorithms
All of the above are laudable claims and pure imagination.
Essentially these systems claim to outperform millions on top of the world's top fund managers and all you have to do to earn an income for a lifetime is pay a hundred dollars. You know that's not true!
Forget the track record presented, either the simulations are going backwards (not real money) or produced by the vendor themselves, with no independent audit. If they were truthful and they actually made the profit they claim, they would spend more than a few hundred dollars or the seller would be busy making money so cheap that you could sell it so cheaply.
You will find some good forex trading systems, they may not call themselves experts, but they make money and will beat any hype system sold.
One of the best is a free one called Richard Donshian's 4 Week Rule, it's from around the seventies and makes money, will always make money and it's free.
We have written about this in other articles, so check them out but in a nutshell, this is a rule system, based on sound market principles that are easy to understand and will always make money.
There are other good forex trading systems that are looking for realistic profits and this means:
50 – 100% per annum 209 – 50% drop and a period of a few weeks.
If you compound 100% per year, you are with the best traders in the world and you can earn long-term profits as long as you do not have to accept the short term.