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Forex Robots Explained

PostDateIcon November 7th, 2009

An automatic account manager such as a stock trading software that performs transactions on the foreign exchange market, this is the definition of the Forex robot. The main investors to benefit from such a tool are traders who don’t have the possibility to trade their own capital or business that require alternative forms of investment. Account management is also possible with a Forex robot, and many companies in the business use it. Before investing into such a tool, you should know that there are many limitations to a Forex robot as well.

First of all, a Forex trading software requires a minimum account deposit, usually of ,000 or more. Then, the tool is very efficient on the short term as it studies the opportunities that appear for the currency crosses during the day. The overall functions rely on a set of algorithms that cannot serve for long term predictions. Don’t let yourself convinced that a Forex robot can trigger great fortune on the foreign exchange market, because this is not true. There are no 100% sure chances of success in this business.

Before investing money into automated forex trading systems it is interesting to ask yourself a very legitimate question. If you had a tool to make a fortune with, why would you sell it to the masses? Altruism in business is an unknown concept. Such a question does not even need an answer, because the very idea will make you doubt the efficiency of a Forex robot. Don’t fool yourself believing that everybody is using a software to trade on the foreign exchange market. If they did, huge numbers of traders would move the market because a software told them so, and there would be a constant flux. But this is not where reality stands.

Forex robot designers usually target newbies who don’t have a clue about how to operate on the currency market. Greed makes people irrational and they are easily fooled into investing their money in a wrong way. Many consumer actually assume that the Forex robot will make them work better on Forex, than they would when running tasks independently. Download a trial tool version, find out how it works and see how efficient it can be on a six-month basis. If that is not possible, you can drop the idea of using a Forex robot from the very beginning!

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Why I like Robominer
In the Forex marketplace, almost every week we see the release of some new trading system or Expert Advisor (an EA is an automated forex trading robot). Some of them work while most of them don't. However there is one EA that has been constantly making profits over the last year, generating over 86,908.00 pips in profit, and generated a 314% return in just 12 months, according to company figures.

This system that only a few seem to know about is RoboMiner. The RoboMiner EA is a long term investment system that pumps daily small profits into your account, it always closes trades with a profit. That's right, you will never have any trades close with a loss.

The RoboMiner EA uses a proven grid trading system that is so safe, it's as if your money is in you IRA account. This system generates a minimum 6-10 % return monthly, with compounding that's 100% return a year.

Let's do the maths here. If you invest $2,000 today, in 9 years from now that will turn into $1,000,000 minimum. Where else can you find such a safe investment that will give you this kind of return?

Best of all you can download a free demo of this EA, test it for as long as you want and see for yourself how it performs.

So go ahead and try the RoboMiner EA today. Click here to download a FREE copy of RoboMiner. You will never have any trades close with a loss.
What Are The Best Forex Robots?
Watch out. The only thing that some "autopilot" forex software products will do for you is... analyze the market. Sure, that's great because when a computer does all the analytical work for you, you don't have to sit in front of a screen looking at charts and candlesticks for hours on end.

But a ROBOT program goes much further.

Forex robots will actually DO THE TRADING for you, as well as the analysis work. A well-written Expert Advisor (EA) will buy at the right time and sell at the right time. It's the ultimate in hands-free currency trading... as long as it's a well-programmed forex robot.

So what are the best forex trading robots available today? I've tried several but only identified one I am happy with at this point... RoboMiner. It primarily works with the AUD/NZD currency pair and is programmed to only trade when you will make a profit. It takes profit when a trade has reached a 1.5% profit.

Why I don't like these EA's

PipsMiner. I first used the wrong settings and as a result lost money. Then I corrected my mistake and entered their recommended settings but still lost money with PipsMiner SE version. Here endeth my very brief PipsMiner user review.

Forex Megadroid. I was running the default settings in demo mode and it didnt turn a profit for me, so I got a refund from ClickBank. That's the nice thing about buying through ClickBank. Although the site promises world class support, it fell far short of that in my experience.

ForexBling. Support was inadequate. I had several questions about setup, but they were answered in just a few words when my questions really needed more info. Even the brief answers did not address my actual questions in some cases.
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