In the world of foreign exchange trading, automated software that trades for you is nothing new. And the fact that most of this software never lives up to your expectations is nothing new either. There have been a number of tries at making bots that are able to accurately predict what the market will do and act accordingly. So far, we haven’t gotten close to making something that can replace humans in the trading process. This doesn’t go to say that technology has helped us with trading. The way we trade has become more efficient than ever thanks to technology.
While technology has certainly revolutionized the foreign exchange, we still have a way to go. The fad for trade robots is popping up again ever since copy trading became popular. Copy trading has made trading incredibly simple by leaving a lot of things in control of a computer. However, it still requires human monitoring and interaction. Today, we are going to be taking a look at another trading bot that has been introduced to us. Just like all the other software that came before it, this too claims to change the trading game for anyone who uses it. You can find a lot more detailed GPS Forex Robot 3 review articles online as well.
The GPS Forex Robot
This software is available for around $149. It seems like a decent price for something that is able to take your trade game through the roof. You also get a 60-day money back guarantee if you aren’t satisfied with the robot. The bot is advertised as a miracle maker that can guarantee 98% winning trades. That sounds amazing, but unfortunately, it isn’t exactly true.
How Does It Work?
People have done some digging on this bot and a number of alarming things about it have been revealed. First of all, the bot’s operations aren’t as groundbreaking as you are led to believe. The bot uses a stop-and-reverse strategy in order to make trades. This reverse strategy starts off by the bot buying EURUSD in order to suffer a loss. It then gets quick compensation on the incurred losses. The stop-and-reverse strategy is really easy to implement in software like this. It is nothing new and definitely isn’t something that should be called groundbreaking.
Another alarming thing about this software is that it isn’t doing analyzing the market as you might think. Instead, it makes use of the Martingale Strategy; a risky gambling method. Basically, the software takes your investment and has you gamble with it. The Martingale strategy involves starting with a set bet size (or investment). You then double the size of your bet every time you lose. You follow the same pattern over and over again until you finally win. Theoretically, this nets you a huge win. However, you need an unlimited amount of money in order to keep on playing this strategy. Unfortunately, most traders have limited funds that they cannot afford to gamble on in such a crazy manner.
Trading is all about careful analysis, foresight, and informed decision making. You cannot expect to gamble and get big gains in foreign exchange. Realistically speaking, even if you get lucky using this method once, your account will fail at one point.
Should You Risk Trying It?
Everything about this expert advisor robot is gimmicky. It basically takes your investment and plays with it, hoping that the law of probability is on its side. The way the program works, you cannot call it an expert at all. The worst part about this software is that it actually looks good on the surface. The starting figures always paint an attractive picture. But when you actually get into serious trading, you realize that you’re playing with fire. The 89% profit trades and 11% losing trades numbers can be misleading. This is due to the fact that the losses are 4 times higher than the profits. Even if you do profit, a couple of back to back losses can put you in a very bad situation.
Basically, you really shouldn’t risk your account like this. This robot gives you a false sense of ease while ruining your trading career. Instead of spending money on this software, you can rely on something else. You could invest in some trading courses or in a trade simulation software. Your best bet at getting good at trading is to improve your knowledge about the market. And the best way to do that is by gaining experience.
If you want to learn more about this software, you should check out some in-depth reviews about it. You can also ask around trading forums. A lot of people have tried to rely on software like this and the results have always been disappointing.