Forex robots stem from the unorthodox marriage between computer science and economics. With the use of algorithms to determine whether the market winds are blowing in your favor, these automated systems have garnered a lot of interest in the Forex community from aspiring greenhorns and battle-scarred Forex traders alike.
However, most of these systems available in the market are ineffective programs wrapped in a persuasive sales pitch – they may sound promising and look good, but these system will often put a dent in your profit margins.
So, how do you find the best Forex robots out there to help boost your profits? How can you look past the veil of deceit from the sales page, and sieve out the best automated systems?
Are the claims based on back-tested or live data?
Are the results of the robot based on back-testing (the use of historical market movements to test the effectiveness of a trading strategy or robot)? If they are, stay clear of them! The best trading systems will have live data to back up their claims. Back-testing omits certain factors in live markets, such as slippages, and only live testing can prove the authenticity of the robots’ profitability. 코인마진거래
Is the robot tested over a sufficiently long period?
The best Forex robots are tested over long periods of live trading. This proves that they are able to stand up to the ebb and flow of the market forces. Beware of systems which claim that they have 100% winning trades – this is simply not possible! The more likely scenario is that the robot had a lucky streak for the period tested. Consistent earnings are the key when finding the best Forex robots.
The people behind the robot
Is the robot created by a single programmer who has no trading background whatsoever, or is it dutifully designed by a group of dedicated Forex traders? The best Forex robots are all created by Forex traders because these traders understand the mechanics that drive the markets. As such, the systems they create are more likely to survive the market compared to one that is created by a programmer who’s never dabbled in Forex before.