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Old 05-12-2020, 06:40 PM
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Join Date: Aug 2015
Posts: 118
Default Which is the best auto trading robot for forex market?

I would not dare to say that there is any best auto trading robot for Forex Market. There may be in the world, but it probably not for sales nor for the public. If you have been in the forex market for a while, you will naturally become curious about automating your trades when you have a strategy and money management that bring profitability consistently.

I am an active signals follower and been in this industry for years thus these are a few tips before choosing a profitable robot in the market.

Drawdown

It is common that you study drawdown before diving into any EA. As this is the likely losses you will incur in the strategy you are engaging. The certain trading robot drawdown could get as high as 80% which I would not recommend. A safe drawdown would range 10%-20%, while max drawdown would range within 35%-50% depending on your risk appetite.

Martingale/Grid

This is a strategy which projects a clean curve on every portfolio. The only downside is that the stacked trades one day may backfire and margin call your account in a single day. In my opinion, such a strategy has its pro and con and it would be difficult to even debate if it is suitable for investment since such a strategy is more towards probability game/ gambling with formula.

View the Best Forex EAs, the reviews and proven results and select the best FX Expert Advisors for Metatrader MT4 for your needs.



https://www.best-forex-robots.com/l/broker-profit/

Read the Reviews

Before you settle on a forex robot, check out the reviews. You can assess the credibility of a forex robot by visit forex trading forums. Here, you can ask for advice about the forex robot you like or you can read posts about the robot by other members. Researching carefully can help you understand if a forex robot will be suited to your particular trading style and level of experience.

Ask for Back Testing Data

Any EA will have the back-testing data for more than 10 years. It would be tested on different pairs to ensure it is profitable on different market condition and best used on which currency pairs.

Check out the Live Trading Results

Request for live verified results. Usually, you can find real verified results either on myfxbook or FX Blue. Sometime EA developer will provide investor password for you to review their performance on a live account. I will only stick to EA with verified results since this is the only way to ensure profitability.

Summary
Forex Robot is not a get rich quick solution, always ensure you have set up stable and consistent risk management on every EA to ensure long-lasting profitable trading experience. Forex is already considered as a high-risk product, therefore you should always do your money management properly to avoid over-leveraging.

Last edited by talha; 05-15-2020 at 08:53 AM.
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