There are many Forex systems and robots sold online that go by the name of Forex Expert Advisors, but most of them are not experts at all, because they all have a fatal flaw and we will discuss it in this article. An expert is someone, by definition, who can perform a task in their field of expertise and in Forex trading that means making money.

Look at any heavily promoted Forex robot or system and you will see that they have never made any real money, it is all on paper!

Track records are simulated backwards, over a slice of historical data and the vendor simply buys and sells, knowing what happened and voila – you have a track record Warren Buffet would probably be proud of, all yours for $100.00!

Of course, in the real world, these Expert Advisors disappear from the market. The user wonders why he did not make a profit and the reason is of course that the system has not been tested in real conditions, just an easy simulation that knows all the price history.

Are there some good ones?

Yes, there are, but most don’t call themselves the big name Forex Expert Advisor, it’s just the old Forex trading system. They have a real track record and not so much hype, but they are available and can make you money. In fact, there are even some good Forex trading systems that are free, won’t cost you a hundred bucks, and they work.

Look around you and always if you see the world expert look at the fine print and see if the history is a post test if it passes.

Look for real market performance, so at least you know the system has achieved its goal: making real dollars, in real market conditions.