Forex Trading Niche'rs, may I ask a question?

13 replies
Hi there guys,

You know I was wondering if I launch my own product in the forex niche (an expert advisor, robot), how much money can I expect to make in a long run with BASIC marketing? Just post your estimation here. To be able to give me a better estimation:
A robot which would be selling for $190 or $249, has REAL proof, 2-3 months trading, on a REAL-money account, $250 turning to $3000, with around 20% drawdown, provided with the investor password so buyers can see it for real, and also published on Myfxbook. Also, with three backtests, 1-2- and 3 years backtests, all showing profitable.

What do you guys think? I am an experienced trader but not experiened at all in the forex niche, that's why I am asking you only for a number. I would greatly appreciate your time if you could just leave here a number with your estimation, how much money this product could make if basic marketing is done?

Thank you very much!
#foreign exchange #forex #nichers #question #trading
  • Profile picture of the author shabtay
    It's really depends on your sales page. your robot could have great performance but if you won't show it to your visitors then you wouldn't make a sale.

    If you really believe in the product, hire a copywriter, create a good sales page, find affiliates and start promoting...
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  • Profile picture of the author fxstay
    have profitable forex robot is not all the things , you must make good site and the important thing is do not forget advertising specially in forex sites
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  • Profile picture of the author Bromigo
    Sure, I know, a certain amount of capital will be required to hire a designer, a copywriter, and stuff, money for basic advertising. Still, what number would you say?
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  • Profile picture of the author MaroshIS
    Be careful because trading robots are mostly treated like scams, actually they are real scams. Why would anyone sell for few bucks robot that is making tons of money ?

    If you still insist on starting in this over-saturated business, then you must know that your refund rate will be very high, and it's also difficult to run such a business from a legal point of view.

    This topic has been discussed on this forum several months ago you can find it when you do a search.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by Bromigo View Post

    A robot which would be selling for $190 or $249, has REAL proof, 2-3 months trading, on a REAL-money account, $250 turning to $3000, with around 20% drawdown, provided with the investor password so buyers can see it for real
    Many forex traders have enough understanding of basic statistics to know that out of every 20 random EA's tested, there's going to be at least one that's produced those results over the last 2 - 3 months, and that that's absolutely no reason at all to expect it to produce those results again over the next 2 - 3 months. It's just a reason for that one being the one that's for sale when the other 19 have been thrown away.

    Many even have enough common sense to wonder, if an EA really could reliably do that, why anyone in their right mind would ever want to sell it for $250.

    So it's not going to be an easy sale at all.

    Add to that all the ever-increasing potential for legal and regulatory problems, the super-competitiveness of the market, the low success-rates from product-launches, and the understandably high cost of the sort of specialist copywriter probably needed, and for me it wouldn't be a particularly tempting proposition at all, I'm afraid.
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  • Profile picture of the author Bruce NewMedia
    Forex, and specifically "Forex Robots" is a challenging niche, to say the least.

    As Alexa mentioned, there's many obstacles to making sales (that stick)
    and it's only getting tougher. I've had success as an affiliate for many
    trading products and feel
    Forex and particularly those "robots" are just asking for problems.

    Just the notion of a ROBOT causes buyers (who are often complete newbees)
    to have unrealistic expectations right from the start. And backtesting with
    these robot-type systems is notoriously unreliable and feeds into this
    no-brainer mentality.

    As to marketing it successfully, how much commission will you be offering?
    How tested a sales page? ...who will you employ to write it?
    What makes it better than the competing robots?
    Do you have verifiable testimonials? Current users? Offering a low-price Trial?
    What kind of support? IMO, no one can even remotely predict how well or poorly
    it will do, let alone be specific about how much money you will make.

    If I bought your fx robot and asked you, "How much money will I make?"
    what would your answer be?
    _____
    Bruce
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  • Profile picture of the author Bromigo
    You are raising up absolutely good points. Keep them coming, I am really interested.

    It seems anyway, that maybe it would be better to do an educational forex course, or something like a signal service, than a robot selling.
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  • Profile picture of the author leorocking25
    I think the advertise should be smart and attractive to look....it is a good policy i think.
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    • Profile picture of the author AeroBuilders
      I would say to set up a website selling trading based educational products - directly related to the specific system which the EA runs (digital content of educational videos for the system and chart templates to show the indicator or filters used). Forex EA's are junk for the most part imo, and too this day I have never seen one pull consistent profits for more than a 60 to 90 day period.

      If you do have a rock solid EA then load up and trade the heck out of it and NEVER give it away to the public.....just my $.02
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  • Profile picture of the author Anne-Marie B
    Forex Robots have a high refund rate on places like Clickbank. They are seen by many customers as scams. If you have a great product then I would suggest hiring a good copywriter.

    A better way would be to sell educational products about forex trading. I have bought currency trading products before and they are very popular and the buyers are really hungry for knowledge.

    It's really a great niche and has so many opportunities.

    Best of luck
    Anne-Marie
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  • Profile picture of the author gasman
    I would need more information than this to determine any type of number to give you. It would depend on how much traffic you get to your sales page, how the page looks itself. What your "proof" of earnings is based on. Also if you really do have a good robot, then you could get a lot of word of mouth buyers.
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