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Automated Forex Trading Systems - 3 Sure Signs Of A Scam
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There are millions of automated Forex trading systems out there, so how do you know if you're investing your hard earned money into a system that is going to stay profitable for the long haul and keep your trading account intact? The last thing you'll want to do is get scammed, but how do you tell the difference between the legitimate Forex trading systems out there, and those that are just flat out fake?

In my line of work as a Professional Trading Systems Developer, I've seen many different variations of Forex trading systems, real or otherwise, and I've come to know the 3 telltale signs of a scam:

1. Promises that you can double your money every few days or weeks

The way scam trading ssytems trap traders is by promising them a ridiculous return: one that you wouldn't get even if you invested with the best professional Forex traders. They sell the dream of doubling your account every week, turning $1,000 to $1,000,000 in months... you've seen and heard it before. It tends to work because it appeals to the fundamental human flaw of greed.

The reality is that even though the automated Forex trading system really does work to double your money, it comes with an extremely high risk of wiping out your trading account as well. There's just no chance that you can repeatedly double your money, just as you won't survive at the local casino betting all your money on black every turn. You know just as well as I do that's a recipe for disaster and major losses.

2. Too good to be true backtesting results

The average trader hates losing, and scam trading system developers are tuned in to this. They take full advantage by producing results that belong in the realm of fantasy: an automated Forex trading system that experiences little or no losses. Know this: it's easy to make up backtesting results, because you can design a system to 'curve-fit' existing historical data so that you have the seemingly perfect Forex trading system.

The automated Forex trading system falls flat on its face when you try to trade it with real time price data. Live trading is extremely harsh to such 'curve-fitted' Forex trading systems. If you want to be 100% confident that your automated Forex trading system is going to go the distance, you must test it live on a demo account. That's where the third sign is vital...

3. Non-existent money back guarantee

Unless your automated Forex trading system is sold through a reliable vendor like Clickbank with a mandatory 60 day money back guarantee, it's not worth your time and money. Forget about privately sold systems on throwaway websites, they'll be here today and gone tomorrow along with your hard earned money. You need that 60 day money back guarantee to do your own live testing and verify the reported trading results for yourself.

Finally, never ever test any trading system with real funds unless you've validated it with a proper demo account trading run. Any automated Forex trading system that you are looking at that has one of these danger signs is not worth the risk - there are plenty of profitable, safe and reliable systems out there waiting to be discovered.

For an in depth guide on how to choose the best Automatic Forex Trading System to meet your financial goals, get my free report: The Truth About Forex Trading Systems. In it you'll discover how to make safe, consistent Forex profits... Even if you're completely new to trading!

Thad B., Professional Trading Systems Developer


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