are the software that helps traders on how to trade. Because today there are there are lots of fake companies. So it is essential to uncover which ones are worthless and which ones are worth a little money. There are various forex robots that will be very helpful. This gives forex traders the chance to be acquainted with more about them out in the market that can help when trading. These forex robots
are used by traders to earn more profits without even making too hard for it. One can know about it from Forex forums. There are a lot of forex traders who are posting their comments or reviews and you can even personally ask them for their opinion.
Here are ten tips on what to look for when selecting a forex robot:
Visit review sites and forex forums and discussion groups. Lean on how your robot works against other robots.
Try to find live trading statements of actual real money accounts. That means not demo accounts. Their data feeds sometimes vary in price and speed. Besides they also do not give an exact representation of the speed and accuracy of trade execution. Even if the price data is the same, the trade execution will vary enough to greatly affect your success. There is better chance with longer the period of live trading statements. But be conscious of of any gaps in the statements which might point out “cherry picking” or selective use of trading statements for a particularly successful week or month.
Ensure if the robot, software or the company allows you to, or suggest how you may begin with a small trading account. It can cut your losses.
Ask if the Forex robots
company offer a benefits comparison chart. Ensure if the company offers a good FAQ page to explain anything that may arise. This shows that the company has diagnostic experience.
Also confirm about the customer service for the company set up whether it appears to be thorough and reachable.
Don’t forget to ask if the company offer paper trading in order that you can check the robot software system to ensure that it really works as told.
Realize the type of money management (if any) is used on the forex robot. Various robots use some type of Martingale Theory, which well stacks lots or doubles lot sizes when a losing trade happens. If the robot uses this type of money management there is a great possibility of over leveraging for prolonged time of drawdown.