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.
This is what we discovered:
The price range on these robots is quite wide. While some are only a few hundred dollars many reach upwards of a few thousand. So our first thought was, “Do the preform better when they are more expensive?”
We took the time to purchase a $147 model and a $600 model to compare. Each system ran based on many rules and conditions, triggers would set off trades when certain events would happen. While each system had ‘okay’ results, one only lasted for a little while. After a testing period of two whole months the 600 dollar system failed. The less expensive system continued to provide gains in the positive. Seeing as each system was designed in a similar manner using conditions, rules, parameters, and triggers to make trades, we have determined that the price is not a factor in effectiveness. Buying a less expensive system can produce better results than a highly expensive one.
A Second Look:
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.
Last Conclusion:
In terms of Forex trading robots, price is almost completely irrelevant. Pricey systems can be outperformed by more affordable versions. It’s possible to find functioning Forex robots that get the job done, just temper their activities with some work of your own. The best risk/reward ratio is to balance 4 losing trade with 1 winning trade overall. Always expect to lose trades, as everyone does it; the most properly managed accounts, however, can bring you profit even with a 25% win ratio, leaving minimal risk to your capital and your existing trades. You can find a lot of quality Forex trading robots. Before getting one, investigate all of your options.
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