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Chapter 39, Part II. Forex Scam - Trading Bots, Signals, and Brokers. Page 4

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
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    Commander in Pips: Right, and now listen. The most logical question here is:

    If you have a gold mine robot that generates millions of pips daily profit – will you sell it at all? What for?

    Second stupid question – will you sell it for $50? Try to answer by yourself. This robot will produce some profit but only as sell revenues by scammers to pigeons. I do not know how much it will be in pips…

    Pipruit: Ok, maybe this is the case with raw robots, but what about those that was back-tested?

    Commander in Pips: Well, here are some chances to success. But, since we are talking about scammers, we will continue to look at this situation from this point of view:

    1. Real and acceptably working trading system will not cost $50, but the problem is that:

    2. If some trading system is expensive, this does not tell us that it is real and acceptably working one.

    3. Back testing could be fabricated. Scammers can use any numbers that they need instead of real historical quotes to make their system show you good results. You will probably not investigate the numbers that were applied in back testing. Sometimes this will be even impossible.

    Hm, it looks like chained circle. So, we can’t deal with robots anyway?

    Commander in Pips: If you have decided in previous part to not trust your money to stranger (aka manager) why you intend to do that to some piece of iron that has no brains and does not know what it is doing?
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