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How do you Choose the Best Forex Robot?

PostDateIcon June 19th, 2009

There are an increasing number of forex robots on the market which due to their price are more available to the home forex trader. For many of us trading forex at home it can be a major step to invest money in a forex robot, and then, allow it to take over your forex trading strategy.

So how should you go about choosing a forex trading robot? Remember first, that their are several major advantages in allowing a forex robot to decide your forex trading strategy.

First, the robot will remain imapssive to the emotions that you will have when starting and ending a trade. Second, a forex trading robot will be able to complete many, many more calculations than you when making its decisions. And finally, a good piece of forex trading software can continue trading day and night without your presence being required.

Having said all that, a forex trader, trading at a 100x margin, needs to invest a significant amount of trust in order to allow a robot to start dealing with real cash. On the other hand, finding and investing in a well tested forex robot could easily see your investment returned in a single day. So what are the major things to look out for when deciding where to invest your cash.

The first 2 things are probably obvious to the average home trader.
1. Can you test on a practise account. You want to see if your forex robot will really make you money before you allow it to trade for real.
2. If it doesn’t, can you get your money back. Is there a 100% satisfaction guarantee.

But, what about the other things you need to think about? Forex robots are becoming increasingly popular on the Internet. The trouble is, the Internet is like the old wild west. It’s like Dodge City without the Sherriff! And it is easy for anyone to put a piece of software up for sale and make highly extravagant claims about its performance. Here are some simple things to be wary of. Most Forex Robot programmes recruit affiliates. Does the affiliate get more than half of the sale? Why would the creator of an excellent trading robot give more than half his money away? Yes these programmes do offer a 100% satisfaction guarantee, but they rely, so much, on the fact that the vast majority of their customers will simply not take this guarantee up.To them it doesn’t matter if people are not satisfied, they are just looking forward to receiving a big cheque. They are also able to manufacture all sorts of wild claims about how much money can be made, generate masses of highly believable testimonials and use highly persuasive sales letters to make you hit the buy button.

And after all this they generate their sales through an intermediary who handle all of the cash transactions for them, so they don’t really need to worry about the low percentage of refunds that are made.

Now the doom and gloom is out the way here are three simple things to look for.

  • Yes, the opportunity for practise trading is important.
  • Yes, A 100% Satisfaction guarantee is valuable – provided you use it if you are not satisfied.
  • But also, look for believable live trading statements. There is one Forex Trading Robot which enables its users to publish their own livetrading results on the Internet. To date, over 1000 have done so.
  • And finally, be prepared to invest more than $60 or $70 for the real deal. The idea of doubling a $10,000 investment every month fo a mere 60 bucks has got to be complete fantasy!

With the extra capability that a Forex robot gives every forex home trader should explore this market and certainly take advantage of the ability to practise trade.

David Saunders is a professional Internet marketer and author. To find out which are the best Forex Trading Robots, visit http://www.zinedesk.com

Article Source:http://www.articlesbase.com/currency-trading-articles/how-do-you-choose-the-best-forex-robot-979878.html

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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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