You will see many Mechanical Forex trading systems online and they call themselves largely Forex robots or expert advisers, they sell for a hundred dollars or so and offer you an income for life without effort, but they all have a fatal mistake that user accounts make dust – let's look at it.
The problem with the cheap Forex robots is that they claim big winnings, but have never earned in real time and none of them can produce a controlled, long-term track record to back up the claims they make to make.
They simply say that they have made a profit and have prepared bank statements, or produce meaningless simulations that are declining, knowing all closing prices. Of course, if you know where each high or low was, it's not hard to make money, but in live Forex trading you don't know this important information!
I have seen almost every Forex robot and if you look at it, the algorithm is normally coarse, trades for a short period of time, and because the system is bent to fit the data backwards, to make a profit, the area that suffers is money management; the result in real-time trading for the user is a quick wipe-out of equity.
It's a fun fantasy, paying a hundred dollars or so and earning money while you sleep, play golf, etc. But it's nothing more than a dream; the reality is that you do not earn money in a market where 95% of traders fail effortlessly. You can win with Forex trading, but you need to learn skills and the good news is that everyone can learn to trade quickly and head for a great second or even life-changing income in just 30 minutes a day.
Make an effort and you'll be well rewarded, don't bother and serve and win with a mechanical Forex trading system and you lose – it's as simple as that.