The Major Dilemma with Forex EA

Filed Under (Journal) by Casey on 10-08-2008

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Forex EA or Forex Expert Advisor is a very cool piece of software, script or program. It helps one person move away from the daily dull boring life of trading. Unless you are the type who can sit around, wait and monitor the forex market which is traded 24/7, forex trading is NOT for you where else forex EA could be something you should considered.

As I have said before in my previous post, forex EA poses a lot of benefit for those who are looking for passive income from market trading

  1. You don’t have to sit around all day glued to the monitor to wait for entry or exit point
  2. You don’t need to put your emotion which is one of the major cause of forex failure.
  3. You don’t miss an opportunity because forex EA will help you execute the trade for you.
  4. You don’t need to have your finger put on standby on the mouse to click and execute the trade on a specific price. Forex EA execute it very fast and accurate
  5. You can trade using multiple strategies over a few charts at once no more moving from one chart to another.

Hmmm…. What else can I add? Oh well… the bottom line is that, you don’t need to know how to trade the forex market and also you don’t need to sit in front of the computer all day…..

Now the only draw back from forex EA is that not all of them are created equal, like HYIP there is a possibility that you can get scammed by buying a lousy forex EA.

Because of the nature of how Forex EA is built, and copyright issues most Forex EA seller does not offer money bank guarantee.

This issue of not offering money bank guarantee is a scammer’s breeding ground. Like HYIP they sell to a promise that if you buy their system, you can make consistent profit as advertise on the sales letter or website.

Unless it is sold in via Clickbank or some market regulated platform, there is a possibility that the forex EA system could be inferior.

On the other hand, this may also pose a risk to genuine forex EA sellers, as free loaders can get their hand on a system for free. A buyer can buy the system and then seek a refund for the reason that the system those not work. Hence the buyer not only gets the product but also got his money bank.

In an industry like this, system seller would rather transfer the risk to the buyer… again this is the best breeding ground for scammers….

I guess in this sense, HYIP and Forex EA is on equal ground.

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