Finding the Best Forex Robots

Forex robots stem from the unorthodox marriage between computer science and economics. By using algorithms to figure out 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 might sound promising and look good, these system will usually reduce your profits.

So, how can you find the best forex robots available 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 outcomes of the robot based on back-testing (the use of historical market movements to test the strength of a trading strategy or robot)? If they're, avoid them! The best trading system will have live data to back up their claims. Back-testing omits certain factors in live markets, like slippages, and just live testing can be the authenticity of the robots' profitability.

Is the robot tested over a sufficiently long period?

The best forex robots are tested over very long periods of live trading. This proves they are able to stand up to the ebb and flow of the market forces. Avoid systems which claim that they have 100% winning trades - it's not possible! A lot more likely scenario is the robot had a lucky streak for the period tested. Consistent earnings are the important thing when finding the best forex robots.

The people behind the robot

Is the robot developed by just one programmer that has no trading background whatsoever, or possibly is it dutifully developed by a team of dedicated forex traders? The best forex robots are all created by forex traders since these traders comprehend the mechanics that drive the markets. So, the systems they create usually tend to survive the market compared to one that's made by a programmer who's never dabbled in forex before.

Although these factors are important in determining the best Forex robots, the profitability of your trades ultimately depends on you. Market conditions change instantly, and it is up to you to choose whether your forex robot would work for the market. Find out how to use manage for automated trading effectively, and you will soon find your capital increasing each month.