BlackBox Robot Review – Run away from this Scam

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Black Box Forex Software: Proprietary Methods or Potential Scams?

The increasingly popular market for automated forex trading robots and forex signal generator software has unfortunately given the criminally minded yet another avenue to defraud the unwitting public via the sale of so-called “black box” software packages. In the end of this article see our links to doubtful softwares in the market.

In essence, black box software is any program whose internal functions cannot be accessed by its user and its inner methods of operation are not revealed to the user by its vendor.

Why is Black Box Software Risky?

Purchasing black box software can present an additional scam risk to consumers when the vendor refuses to make the methods that their software uses known. For example, a vendor might claim that the software they are selling contains “proprietary information” that might involve some form of unspecified trade secrets.

They then make this alleged proprietary nature of the software their primary excuse for offering a software package for sale that their customers can never actually understand the inner workings of. Instead, they can only use the black box software blindly according to the vendor’s instructions.

When trading forex using such systems, this might well expose the customer to excessive market risk in certain situations that they are otherwise unaware of since they do not know how the program operates. Example of a black box software.

How Black Box Software Scams Operate

Due to its inherently secretive nature, this type of black box forex fraud may not be very easy to detect. This occurs simply because the software provider has locked up the source material for the automatic trading robot or forex signal generator system into the black box software and does not allow the user access to it.

For example, in the case of some black box forex software scams that have recently come to light, the software might just contain some repackaged standard technical analysis indicators that the customer could easily have put together from free technical analysis resources.

Alternatively, the black box scam might consist of repackaging automated forex trading robot software that has been made freely available elsewhere online by its original developer.

Each of the above types of scam software products might be offered as either a Custom Indicator or an Expert Advisor (example of an expert advisor scam) that installs and runs automatically within the popular MetaTrader 4 forex trading platform software that supports these kinds of forex software.

How to Avoid Black Box Forex Software Scams

This type of forex fraud can be especially difficult to discover since the exact nature of the software’s operation has been hidden from the user by offering it as black box software.

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Often, it takes someone carefully observing the software’s performance relative to other known software to detect the scam at all.

If you do not wish to take the risk of purchasing black box forex software that may be a scam, one of the best ways to research the software is by searching for it by name online with a major search engine. You can further refine your online search by including the text “scam” or “fraud” in the search engine query box.

Of course, you will need to discern which search results are actually articles written by affiliate marketers of the black box software. Often, these articles start out by asking whether the software in question is really a scam and then end by describing the product in glowing terms.

Somewhat more honest and reliable are the various online discussion forums that appear on websites that deal specifically with forex frauds. Some such websites are better than others at detecting and identifying forex scams.

Nevertheless, the individuals posting in the forums hosted by these sites can often shed some light on the software’s inner workings. They also often provide useful hints as to whether or not the software operates successfully and as promised by the vendor.

The Potentially High Cost of Such Scams

It might not seem much of a scam to the customer if the black box forex software vendor was just asking $25 for repackaged products available freely online, although the vendor might need to answer to the original developer of the software who would own the copyright to their invention.

Nevertheless, some exposed black box forex fraud software vendors unfortunately charge thousands of dollars for these simple ripped off systems that no one would pay that sort of money for if they were aware of their true nature.

This scam risk should make anyone considering buying black box forex software think twice, if not three times, before making such a purchase. Naturally, if you do decide to go ahead and purchase this type of software anyway, you will always want to make sure that you can return it safely. Toward this end, you can look for a purchase and return policy handled via Clickbank for example.

The involvement of a reputable third party like Clickbank for payments and returns is often far preferable to having to deal directly with the black box software vendor themselves. Basically, many scam software vendors do not wish to return your money once you discover that their product is a scam or does not otherwise work to your satisfaction.

Other examples of expert advisor and forex software frauds:

Black Box Robot Software Review

It is possible that the Black Box Robot software is one of the best autonomous trading systems in recent years. Although it has only been available since late 2020 it has already managed to garner associations with many of the most popular and well established binary brokers.

One look at the Black Box Robot software will have you impressed at the quality of the product on offer. Its simplicity is one of its strongest points. In fact, it makes no attempt to tell you that you will make significant profits or how amazing binary options are.

Review of the Black Box Robot Software

It is fair to say that the most important factor regarding your choice of autonomous broker is the range of brokers you are able to connect with. There is no doubt that the Black box Robot software is well connected. It is possible to trade through the majority of the best brokers and connect with this impressive auto trading robot. In fact, the Black Box Robot software also ticks the second most important element of a good auto trading robot; it offers a wide array of options to personally configure your risk and trade environment.

Settings Available for Black Box Robot Software Users

The first thing you need to do is decide which of the possible trading techniques is most likely to suit your preferences. The main technical choices are Bollinger bands, The Fibonacci sequence and even simply following the RSI. You can also at what is happening in the wider market and trade according to this. This type of trading is generally referred to as fundamental analysis; also known as price action.

Another setting which is exceptionally useful and rare for most auto trading robots is the opportunity to trade in reverse. Instead of overstating the accuracy of their system the Black Box Robot software allows reverse trading which assists any trader to feel that they are in command of the trades.

It is also important to be able to control your exposure. The Black Box Robot software allows you to do this by enabling control over the size of your trades and even the number of open trades you will permit at any given time. The idea behind this auto trading robot feature is to maintain your funds and trade successfully.

Finally, arguably the most important setting is how many assets the software can access and trade on at the same time. Fortunately this particular auto trading robot has access to seventeen currency trades; all the most popular pairs. Being able to choose the base assets in which you wish to trade allows you to adjust your trades according to the current state of the market; something that many autonomous software options can simply not handle.

Choosing the Right Broker with your Auto Trading Robot

Licensed brokerages are the preferred choice for anyone who wishes to retain their funds and avoid potential scams. There are many brokers based offshore which are not licensed by anyone; some of these will simply be after your funds. Likewise many of the auto trading robots you will come across are not linked with the regulated brokers. This means they are potential scams. Fortunately, the Black Box Robot software is designed to work with licensed and regulated brokerages; making it one of the safest trading options currently available.

Know the Auto Trading Robot Scams

One of the best ways to protect yourself from potential scams is to know what they are before you get caught out. There are two main approaches used by auto trading robots to draw you in and then scam you:

Provide you with a demo account. This is not unusual, many brokers do this. However, whilst most brokers simply offer a view of the marketing world, a business looking to scam you will provide you with winning trades every time. You will then believe you are that good at generating funds that you will hardly be able to wait to sign up for an account and deposit money. You will then find your win rate reduces dramatically.

It has become common for firms to show their history regarding trades. This helps you to decide whether a brokerage is successful often enough to warrant your trading with them. Any firm looking to scam you will show the trading history but only show winning trades; leaving you with the feeling that you can’t go wrong!

This is part of what sets the Black Box Robot software apart; there are so many different configurations that it is virtually impossible for two traders to obtain the same result!

Should You Use Automated Day Trading Software (EAs)?

Many people are lured to the markets by promises of easy money via day trading robots or expert advisors (EAs). An EA, or trading robot, is an automated trading program that runs on your computer and trades for you in your account. Selling robots and EAs online has become a huge business, but before you take you plunge there are things to consider.

There are certainly some benefits to automating a strategy, but there are also some drawbacks. The thing to keep in mind is that rarely is making a ​boatload of money easy. The promise of easy money is the oldest trading scam in the book. There is money to be made with trading robots and learning to automate strategies. Unfortunately, to this do effectively could actually take longer than simply learning how to trade manually, since a person needs to learn how to trade first, and then still learn how to automate the strategies via a programming language. And buying a program comes with loads of pitfalls, which will be discussed shortly.

Below, we look at all of this, and more, exploring the pros and cons of robotic trading and EAs.

What Is Automated or EA Software?

Automated trading software goes by a few different names, such as Expert Advisors (EAs), robotic trading, program trading, automated trading or black box trading.

Automated software is a program that runs on a computer and trades for the person running the program. Since it is a program, it will only take trades with parameters that align with what is written in the program. Creating a trading program requires extensive trading knowledge, as well as programming skills.

EAs are based on a trading strategy, so the strategy needs to be simple enough to be broken down into a series of rules that can be programmed. The more complex a strategy, the harder it will be to effectively program.

For people who buy trading software, they are completely dependent on the trading skills and programming skills of the person who wrote the program. This is a vulnerable position to be in.

Like most software, it will require an update from time to time. Market conditions change, and the trading software needs to be updated with it. If the software is not updated by someone who knows what they are doing, then it is quite likely the software will have a very short shelf life of profitability (if it was profitable, to begin with). EAs that are written by and maintained by experienced traders and programmers have the best chance at maintaining profitability over the long-term.

Beware the Sales Push

While a few EAs will work, and produce good returns, most will not. Less than 5 percent of people who attempt trading are successful at it, and that includes people who create and buy EAs. The odds of success are still very small even when using a trading robot.

The people who are successful with EAs constantly watch how their EA is performing, make adjustments as market conditions change and intervene when uncommon events occur (random events can occur that affect the programming in unexpected ways). Successful robotic traders, just like successful manual traders, put in the work required to create and maintain profitability.​

This is quite different than the EAs sold online that describes a life of easy money and no work. all for $79.95! Once you buy an EA, rarely is there support and updates after the fact. Even if the creator of the EA is successful, that doesn’t mean someone who buys the EA will be. The creator may occasionally intervene, or turn the program off (during major news events, for example). Slight changes to when the program is run can change results dramatically. Unless the creator of the program is coaching you on how to do this or providing long-term updates and monitoring as market conditions change, it’s best to avoid getting sucked into the sales pitch.

Rarely Is Automated FULLY Automated

As alluded to above, successful robotic traders put in a lot of work to creating and maintaining their programs. The real work is maintaining the program. Someone can not simply flick a switch and watch the money roll in while doing nothing. This may work for a time, but ​market conditions change and unexpected events occur, which require intervention on the part of the trader.

If a person buys an EA, it is unlikely they will have the expertise to know when to intervene and when not to. Intervening, when not required, could turn a winning strategy into a losing one, just as not intervening when required could drain the trading account in a hurry.

In the Market Wizards book series by Jack Schwager, several successful automated traders are interviewed. All these traders were highly engaged with their strategies, and not just sitting back doing nothing. It is highly unlikely that a person can buy an EA and just leave it running while they sleep and work at another job. This approach may work, but only if they stay on top of the EAs performance, have the know-how to alter the program if market conditions change and know how and when to manually intervene when required.

Some people think that robotic trading takes the emotion out of trading. Unfortunately, this is not true. While the program doesn’t feel emotion, the person running the program does. People may feel tempted to intervene when they see the program losing money, but the program may still be functioning well (losing trades happen). Or they may intervene to take profits prematurely, manually overriding a trade when the person sees a profit they like. All these emotionally-driven actions could destroy an EAs profitable edge in the market.

Automated traded is rarely auto-pilot trading. It takes a lot of knowledge to be able to maintain an EA, and trading skills/psychological skills are still required to intervene when necessary, but not too much.

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