A blatantly honest review of the various Forex trading robots is just what it sounds like. The time has been spent looking at all the different systems out there as well as the automated ones to see which myths are true and which are not. Our plan was simple in it’s inception. We wanted to know if Forex trading robots could maintain a consistent level of results.
These were our findings:
The price range out there on the forex system can be anything from a few hundred dollars all the way up to a few thousand. First, we tested to see if the quality of the system went up with the price.
For our studies, we examined both a $147 trading robot and a $600 trading course. Our studies came to the conclusions had the same principles; all they were were instructions based on certain criteria, which, if they were met, would activate a trade. Each of the trading systems were able to provide short term results. Two months in the testing of the $600 system, we experienced constant failures, but the $147 system kept on going. Since the basic principles of the two robots were basically identical in terms of the factors used in trading, we determined that it doesn’t matter how much the trading robot costs. As a result, you can definitely get better results from a cheaper system.
More Conclusions:
We ran three of the cheaper models ranging from 99 to 150 dollars all at the same time starting at the same date to compare them. Each set was once again designed similarly and they all traded through MetaTrader, but each had it’s own triggers and conditions. Each of the three surprisingly remained in the positive even after three whole years of testing, but some of them had longer draw downs than it’s competitors. Seeing how each of them remained on the positive side, we believe that the most reliable forex robot is the ones which do not have large drawn downs to help keep growth consistent over the long term.
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.
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