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What to Look for in a Good Forex Trading Robot
March 10th, 2010 | 
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As a Forex trader, or someone considering getting into trading Forex you know that one of the biggest things you have going against you as far as making more profits is the amount of time you have to be able to sit at the computer and actually trade. This includes studying the markets, following the trends, buying, selling and everything else that goes along with it. Because of this, forex trading robots have become more and more popular amongst traders who are interested in leveraging as much time of each day as possible.
This is a great thing and when you get your hands on a virtually autopilot program that does performs in the way you want it to, you will not only be happy about the ease in which your trading is taking place but you’ll also be happy with the boost in profits your trading account(s) are enjoying. However, that’s the catch right there; finding a quality trading robot that does what it says it’s going to do and does it consistently.
If you’re in the market, or just considering checking one out, here are some of the things that every good Forex trading robot should have.
1 – A proven track record. The creators should provide proof that their software does exactly what they’re saying it does. This should include charts, statistics and any other information that is pertinent to the features of their product. Without historical data, it’s awful hard to know if the the product actually works or not.
2 – An expert advisor that also has a proven track record. There would be nothing worse than setting your robot off to making trades and suddenly find that somewhere along the line a setting or something with the advisor is completely off and untested. The software developer should have this part completely tested and ready to go.
3 – It should come with good customer support. There is nothing worse than buying a product and not being able to use it, then finding out that the people you bought it from aren’t anywhere close to being handy to help out. This is even more frustrating when it comes to programs that could lose you money, so quick and quality customer support is an absolute must.
Of course, those are just the basic things you should be looking for when considering a Forex trading robot to help you with your trading, other things that you may want to take into consideration really focus on your personal motives and exactly what you want to accomplish.
Matt Traylor
http://www.articlesbase.com/currency-trading-articles/what-to-look-for-in-a-good-forex-trading-robot-545363.html
Posted in forex trading robots
What is the best forex trading robot?
I’m looking for a forex trading robot that makes money on automatic trade consistently.
What is one good profitable forex automated robot?
Thanks all.
I’ve been testing robots for almost a year now.
I have to say you have to be careful with most of the things on the internet…
I’ve started on a live account after I found http://www.bestforextradingrobot.co.cc/
It is the only profitable robot I found that makes money every time.
Check it out. I’ve done a lot of tests with this robot and make huge profits every time. I’m now on a live account and I doubled my money so far. (I’ve been using it for 2 months now)
It is really really good check out the live proof accounts on the page. They are updated every 15 minutes.
Cheers.
References :
http://www.bestforextradingrobot.co.cc/
There are few good FX robots (EA’s) out there. The one thing they have in common is;
The only people that do well with them are traders that have been very successful in FX trading for the past 5 years or more. The number one thing they have in common is a good backround in Trading Money Management and Trader Psychology. If that’s you…. continue the search… you’ll find something. If you’re a new trader… stop trying to find an "easy way" to make money trading. There is no such thing.
Special Note: Most answers on Yahoo Answers that specify a web site to go to are SCAMS. Find more legitamate avenues for your search.
References :
I can’t steer you to the right place but just wish to give you a word of caution.
In Forex trading, you pay commission on the spred. There is no add on commission but you pay the amount of the spread. Three pips equals $30 on a full sized pair. That’s $50 on a five pip spread.
Forex brokers do not remain open the entire time the market trades. They can set their own hours. Some brokers close before the market stops trading on Friday and open after the market begins trading on Sunday. Not to mention Holidays when trading is still going on. During this time your stuck in the trade if you didn’t exit it before the broker closed. Phone calls, the trading desk is not manned all the time during business hours and you’re always able to access their system or orders execution.
Forex trading is not centralized. Each broker has their own separate data feed and set their own highs and lows.
FCM registered? Make sure they are. Make sure you know what your brokers reserves are, that they hold segregated funds. They should give you their registration number. Make sure it’s valid and current.
Never trade Forex with a broker who doesn’t allow contingent stops and limits when placing an order. Many, many brokers won’t allow you to place a stop and limit until your entry order is filled. This will cause you grief, frustration and money. Their charts do not always correspond to what you expect your fill price to be because their getting their data feed from someone else.
Your broker isn’t there for you. They’re there for themselves. Every broker takes the other side of every trade. This means it’s you against them. Think of Las Vegas. The house is positioned to win. Brokers have ways to hunt out stops and not filling limits. This isn’t a problem when the market blows through a stop or limit. It’s clearly evident on those frequent occasions where the broker seems to miss those call limits on your profit by a pip or two but seems to always be able to execute a stop exit usually on a lose before it swings back the other way.
Back testing can be good but market conditions change. Thus back testing then becomes irrelevant. You can’t always trust back testing. Insist on a trial before you put money up front. Perception in Forex trading is not always the reality. It can be profitable but it can also wipe you out fast and easy if you don’t know all the aspects of your broker and the in’s and out’s of the idiosyncrasies.
References :
Forex tarding is very risk and you can loss your investment easily. I subscribe the best stock robot and plan to own it.
The problem is the price will blowing my mind and burn my pocket badly. But this robot, I think the best. At least can make me money $80-$130 perday. All depend on your investment. I bit scare to put a lot money.
Man..! It is $112,000.
At the moment I only can subscribe it, and make some money. I like this Day Trading Robot, because It’s real deal.
I never want to buy something online with stranger or people who not provide clear address,phone number, ect.
With day trading robot I feel secure for my investment.
I can drop anytime to his real address in Miami,Florida and I can ask any question. I can ask for refund if I can not make any return of investment (ROI).
References :
Stock Robot:http://offto.net/stockmarket_49bd