Forex Trading Systems - 1 Simple Way To Spot If it Will Lose You Money

There are numerous vendors on the net selling track forex trading systems with hyped copy and making claims that seem in many instances unbelievable and of course they are â€" over 90% of forex trading systems on the net that are sold lose. There is an easy way to spot one that will probably lose you money and it’s this: Simply check the track record and look to see if it has a hypothetical disclaimer. The disclaimer you will see required by the CFTC below. When you read it, you will see that a track record that has this disclaimer needs to be treated with extreme caution â€" here it is: “HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOW” Could You make money KNOWING the closing prices? Of course you could! My 7 year old niece could do it and so can anyone who can read and write. Vendors of Forex trading systems very often abuse this and in many instances they simply make up the track records, to make them look attractive. Greedy and naive traders buy the forex trading system and the track record and then are surprised when it loses! Not every trader out there who sells a forex trading systems is trying to rip off people and you do find many vendors who try and present truthful hypothetical track records - but if they have not been traded should you trust them? Surely, if the vendor is selling a forex trading system where you are following signals (and need to do this without questioning the system s logic) they should have traded their own money first so you can have the discipline and confidence to follow the signals? If they haven’t traded their own money in it why should you trust it? There is no “free lunch” So if you have ever wondered at why a track record looks to good to be true â€" the reason is its odds on to be done in hindsight and as the old saying goes: “if it looks to good to be true it probably is” Today, the internet is seeing a mass of vendors with no trading experience at all, use clever marketing copy and hypothetical track records to sell their systems. When buying, tread with extreme caution and check the track record first and odds are it will be hypothetical. NEW! FREE 2 x TRADER PDFS and NEWSLETTERS On all aspects of becoming a profitable trader including: Free critical trader PDFS, and updates on the best high reward trades via FREE Essential Forex Trader PDF S visit our website at: learncurrencytradingonline.com/index.html