The market for automatic Forex robots has mushroomed over the past 6 months. Not a week passes without a new Forex robot being launched. This has made the task of the new Forex trader of finding a quality reliable product much more difficult. Unfortunately there are a lot of unscrupulous sellers out there peddling untested products. It is also not helpful that there are so many so called independent Forex robot review sites whose only goal is to sell a handful of robots for the affiliate commission...
The new Expert Advisers coming to the market of late are to be found on glossy websites designed by web designers and marketers. You will also find a host of promotional tools to punt their wares with such tactics as limited time offers, only a limited number for sale, and user endorsements. The new trader can easily taken in by all this hype. The sad fact of the matter is many of these robots will end up to losing buyers the trading capital that they put into their broker accounts.
Most of the newer Expert Advisers now feature a form of algorithm geared to trade multiple markets. This adaptability is helping them stay in the money when the market conditions change. Buyers should beware of the false claims on websites showing win to loss ratios in the 90’s. Most of these results are produced on back tests which are proven to be unreliable at best, and at worse are open to manipulation. It is relatively easy to tweak and super optimize back test to produce any result. Taken in my these claims a buyer will download and load up the software, only to find their account balance reduced to zero in a matter of weeks.
Most experts will tell your that only way to be sure your robot will work, and make money, is to look for those with a proven track record of producing more profitable trades than losing trades over a long period of time.
Only a few ethical sellers take the step of showing their EA on a live trading account and in real time. Those that do can be trusted to make money for you. The hard part is to find them.
The cheapest solution is to try and find a website where you can see the best Forex robots in a comparative performance test in real time. This allows you to check in from time to time to see how they are performing.
The new Expert Advisers coming to the market of late are to be found on glossy websites designed by web designers and marketers. You will also find a host of promotional tools to punt their wares with such tactics as limited time offers, only a limited number for sale, and user endorsements. The new trader can easily taken in by all this hype. The sad fact of the matter is many of these robots will end up to losing buyers the trading capital that they put into their broker accounts.
Most of the newer Expert Advisers now feature a form of algorithm geared to trade multiple markets. This adaptability is helping them stay in the money when the market conditions change. Buyers should beware of the false claims on websites showing win to loss ratios in the 90’s. Most of these results are produced on back tests which are proven to be unreliable at best, and at worse are open to manipulation. It is relatively easy to tweak and super optimize back test to produce any result. Taken in my these claims a buyer will download and load up the software, only to find their account balance reduced to zero in a matter of weeks.
Most experts will tell your that only way to be sure your robot will work, and make money, is to look for those with a proven track record of producing more profitable trades than losing trades over a long period of time.
Only a few ethical sellers take the step of showing their EA on a live trading account and in real time. Those that do can be trusted to make money for you. The hard part is to find them.
The cheapest solution is to try and find a website where you can see the best Forex robots in a comparative performance test in real time. This allows you to check in from time to time to see how they are performing.
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