A hard honest review and analysis of Forex trading robots and systems means just that. We've taken the time to look in depth at current trading systems and automated ones to find fact from fiction. What we set out to do is to find out if in fact Forex trading robots can produce consistent results.
Here's what we found:
There are loads of Forex systems being offered in the market place ranging anywhere from thousands of dollars down to a few hundred dollars. The first question we had to ask ourselves was, is one better than the other based on price alone?
We bought a trading course for $600 and compared it to a trading robot for $147. What we found is that both systems were based on a set of rules and indicators and when certain conditions were met, a trade was triggered. Both systems produced decent results, but only for a short while. The $600 system failed after 2 months of forward testing, while the cheaper system continued to produce consistent positive results. Being that both systems were designed on a set of indicators, parameters and rules, we concluded that the price of a Forex robot is irrelevant to the results. Therefore, a cheaper system can in actuality out perform a more expensive system.
Our Second Finding:
After reviewing various Forex robots in the price range of $99 to $150, we tested three of them side by side. Each had its own set of indicators and each traded on the MetaTrader 4 platform. All three produced positive results after a back test of three years, however some experienced larger draw downs than others. Given that all there produced positive results; we then concluded that the safest Forex robot to go with was the one that had the least amount of draw down in order to protect our risk capital for long term sustainable growth.
Our Overall Conclusion:
Price does not matter when it comes to Forex Robots and systems. Cheaper systems can outperform more expensive ones. Forex robots do and can work, you just have to use sound money management and at least have a basic understanding of the Forex market. Aim for a risk to reward ratio of at least 1 winning trade is equal to 4 losing trades. You will lose trades, that's a given, however if managed properly you can profit even if only you are right 25 percent of the time with a risk to reward ratio of 1 win equals 4 losers. There are plenty of great Forex robots out there today. Be sure to do your own research before you buy.
