An Honest Look At Forex Trading Robots

By John Prodon

When we say an honest look at these Forex Trading Robots, that is exactly what we mean. We have spent many years testing them so we know which ones work and which ones don't. The main goal was to find which forex trading robots were capable of producing positive results in a consistent manner.

This is what we observed:

The price range on these robots is quite wide. While some are only a few hundred dollars many reach upwards of a few thousand. So our first thought was, "Do the preform better when they are more expensive?"

We took the time to purchase a $147 model and a $600 model to compare. Each system ran based on many rules and conditions, triggers would set off trades when certain events would happen. While each system had 'okay' results, one only lasted for a little while. After a testing period of two whole months the 600 dollar system failed. The less expensive system continued to provide gains in the positive. Seeing as each system was designed in a similar manner using conditions, rules, parameters, and triggers to make trades, we have determined that the price is not a factor in effectiveness. Buying a less expensive system can produce better results than a highly expensive one.

Secondary Findings:

After that, we decided to test out a trio of trading robots, all randing from $100 to $150 in price. The common thread between them were individual indicator settings, and MetaTrader 4 compatibility. Testing back among three years of use, each of the systems worked just fine, but there were some systems that had bigger draw downs. No matter what system we went with, we had positive results, which led us to the conclusion that you should just invest in the Forex trading robot with the smallest draw down amount that will keep your risk capital protected as much as possible.

Final Conclusion:

The price will not effect how effective the forex robots are. Even the cheaper end of the systems can do better than the more expensive ones. The forex robots are effective over all, but it does require management skills and basic knowledge of the forex market as a whole. It's best to shoot for a 25% success rate for your trades. It is part of the forex market to lose trades, but even making 1 out of 4 trades you can make profit. There are many forex robots on the market. Always research each one before you decide to go ahead with a purchase. - 23226

About the Author:

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