If there is one thing that created a huge stir in the forex community, it would definitely have to be Forex Expert Advisors. You may be wondering if there are any forex traders who are rich trading Forex Expert Advisors. My answer to that is “if they are, they are DEFINITELY in the minority.”
I know Forex Expert Advisors sound like an excellent idea, but let's think about this logically. What is their main purpose? Basically, they are these trading robots which trade the market for you without any kind of human intervention. Does this not sound crazy to anybody else? Letting a machine trade your hard earned money for you on autopilot?? You may think that I'm exaggerating a bit.
Don't you think if becoming rich, letting your forex expert advisor trade for you was that simple, there would be more people having success. After all, nobody would want to do the heavy lifting for themselves.
Don't get me wrong. I am as pumped up about technology as the next guy, but let's be a little realistic about it.
Another huge hiccup about EAs is the fact that you have to trust your broker. I don't know about you, but I have a very hard time trusting my broker when I'm the one pushing “buy” or “sell”. With an EA, you have to trust your broker to accurately open and close trades off of a trading robot that you have no control over. That's a HUGE leap of faith.