There are many forex robots available in the market but in most of them you will see disclaimers that state that results are based on simulated results. If you also find any such forex software then it is better not to use it as it has not been used in actual trading.
Simulated Results & Forex Robots
In many such softwares you will find disclaimers which state that there are limitations in simulated results and they do not correspond to actual trading. In addition to it as trading has not taken place actually, results achieved may have been over compensated or under compensated for probable impact of specific forex market factors like low liquidity.
These trading programs which rely on simulations are designed based on hindsight and you will not find any representation that tells you that while trading you will also achieve the same kind of profits as the software does during simulated performance.
Misconceptions about forex robots
There are many misconceptions regarding forex robots and we will look at some such misconceptions here.
1. One misconception is that the system should be very clever but instead the system should be such that it makes use of right trading signals.
2. Another misconception is that predictive systems work well such as those based on Fibonacci or Gann but these cannot assure that you will win every time. Additionally, it is very difficult to predict movement of prices and believing such predictive systems will yield good results is not true.
3. Third misconception is that using such forex robot software you will be able to avoid drawdown periods. Many well known and wealthy forex traders also face drawdowns and you can not avoid it by using softwares such as forex robots.
4. Fourth misconception we will look at is that you need to just start the automated system and start making money. This is far from reality as in every trading system you need to input your preferences and choices as well as show discipline in operating the system and only then it will yield desired results.
Thus we see that there are several softwares available for cheap but they will hardly work in the real world scenario. If you want to profit by using any good forex robot then you will certainly invest and such investment could be few thousand dollars.
In addition to it there are few free ones also available in the market that can be used to know how these forex robot systems work before actually investing money on purchasing any good software.
A Final Note
To conclude we would like to say that there are several forex robots in the market which claim high returns on investment but most of them are based on simulated results and in actual market conditions most of them fail. If you are interested in purchasing a forex robot then you need to properly study how these systems work and check the performance they have in actual forex trading scenario.