Robo-Advisors

Can You Trust Them?

robo trading

You are an avid investor, but are not able to make investments continuously and make substantial profit through Forex. You decide to use a robot to automate your currency trades. Can you trust a machine to handle your hard earned money?

Why Automate Trading?

Automated trading software, also referred to as ‘Expert Advisors’ or EA systems, are the most commonly used tools in currency trading. They are used mainly because it is difficult for humans to stay awake as long as Forex is operational and follow market trends continuously. By feeding the robot with technical parameters and market criteria, the process of trading can be automated successfully. One may wonder how the robot will be able to adapt to wild fluctuations in market conditions without incurring a loss. Through lots of research, EA systems capable of analyzing real-time data and making smart decisions through highly accurate predictions have been developed. These robots are the key to every investor’s success.

Trusting your Robo-Advisor:

There are also many tests that can be performed on each robot to see if it is up to the mark. Some organizations invite developers from all over the world to participate in Forex robot contests, in which the EA systems created by different people are made to work under real-time market conditions, involving transactions made using really money. The winning robots, i.e., the robots that bring the most profit upon a common amount of money given to all of the robots is declared the winning robot. Once the competition is over, the robot is either put up for sale, or is utilised by the developers themselves. EA Forex robots are highly sought after in the global currency markets, and are sold under highly secure licenses. As it is the common opinion of thousands of successful traders that robots DO function efficiently, it is an accepted fact that they are, in fact, an invaluable tool to every investor.

There are many different programs like this on the market today, all offered by a range of different companies that all believe that their one is the best. Here are some tips on how to choose the best one – not by the credentials that they have to have, as many offer the same things such as innovative features to make the most of Forex charts, but by how they work out comparatively.

It is absolutely essential to compare your Forex robots, simply for the fact that many of them boast the same features, or simply have features that are too complex to fully comprehend. The best way to determine the best one is to see if there really is any proof in the pudding by looking at their results.

Firstly, check online to see if there are any independent tests of automated robots from the thousands of providers and platforms that exist today. For many there is this impartial data which will give a great deal of insight into whether one program is better than the other.

There are many independent advisors that offer this analysis of different sites so that you can compare them, so look about the internet and see what is out there. Once you have a chart that shows the performance of each robot, you are far more likely to make a better decision on which one is best in order to dominate the Forex charts.

You will need to have a look at several different factors, including how much profit is made over a specific time period, what the expected profit per transaction is, the draw down, and the risk to reward ratio. Analyses of these elements to determine whether a particular robot is better for you or not.

The next thing to do is look to see if there are any real customer reviews about the robots and whether or not they have had a good experience using them. After all, data is very telling, but customer experience is also very telling too. You can often find these independent reviews online if you search widely.

One thing that you should be aware of is that some reviews may not be genuine, or articles reviewing certain forex robots may not be completely genuine – they may be sponsored for example. For this reason, look for entirely independent websites in order to get real and valuable feedback on the product before you buy.

Finally, the way to determine whether something is right for you is to try it out of yourself, often with a free or low cost micro trading account. Carry out testing of the robot before you start using it to trade real money, and then step up the game by testing it with small amounts of money.