Since the basic idea behind Forex trading is so basic and simple many people make the mistake of assuming that the market itself is just as basic and simple whereas in reality nothing could be farther from the truth. The fact is that currency exchange rates are incredibly complex and heavily influenced by an enormous range of regular factors. In view of this, most people that opt to trade Forex but lack a deep and intimate understanding of the market and how it works tend to use more or less fixed trading strategies. As is the case in any other commodity market, the number of systems and strategies is almost endless and most of them do work under certain circumstances but do not work under other ones.
Since so many people have begun trading that really only have a cursory understanding of how the Forex markets work, the strategies themselves have become valuable and proprietary assets which can be bought and sold in their own right. As a consequence there has emerged an entire market of “black box” trading robots, which use a particular strategy and based their actions on particular indicators, but the strategy and indicators are not revealed to the user. Therefore a new trader using a black box system may or may not make money based on its performance, but he will never know how the program worked and not learn anything new about Forex by using it. In fact, since there are so many people selling basically the same strategies under different names, doing so through a black box trading robot is a great way to disguise this fact.
I was recently asked if the 1 Minute Daily System was just another black box system selling some mystery strategy that might or might not work. This was easy enough to answer: No! In fact it is the exact opposite of a black box system since the entire strategy – along with all of the relevant indicators – are provided when the system is purchased. Further, although the 1 Minute Daily System does come with its own trading robot that operates on this strategy, the company specifically recommends that new users trade manually with the system first just to learn how it works and understand the process before turning it over to the robot. If nothing else this will help the user understand what perimeters to use and what currency pairs seem most promising.
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