The Forex Trading System
Forex Trading Robot
Using a Forex Trading Robot as an automated Forex trading system is an ideal way to trade for those who don’t have the time to sit in front of the computer. Whilst there are many advantages to using a Forex trading robot, lets get the negative aspects out the way:
1) Robots tend to have one fixed trading style eg. Scalping, Trend
2) Robots usually don’t adapt to changing conditions
3) Whilst they have defined entry, Stop Loss and Take profit, most seem to be inflexible beyond this (eg understanding that the desired outcome from the setup has not been achieved)
The good news is that we as traders can deal with each of these issues!
Now I have tested and traded literally hundreds of Forex Trading Robots, 95% of them never made it onto a live account. I have whittled it down to 3! I will explain what robots they are and why I have them…
Robominer
The price tag is going to scare some people off here but this robot is based on solid maths. Rather than use entry criteria like other robots. This robot trades on the AUD/NZD currency pair. This pair trades year in year out generally within a defined range. Robominer places trades and takes profits as the pair move back and forth through this range. Now this robot is touted as the ZERO LOSS EA. Why? Well, due to the range of trade you never stopped out or margin called. Well, to be honest there is a remote chance that the currency pair for whatever reason move outside of the historical range. Fortunately the clever folks at Forex Goldmine have factored this in. In my opinion this is about as safe as automated Forex trading gets. The downside is that it makes lots of small trades. Not very exciting to watch but over the course of the year this can double the account easily. Ive NEVER stopped out or been margin called with this robot.
The really awesome thing here is that you can test these on claims with their FREE DEMO. I highly recommend you open a demo account here …. and the zip over to Robominer and get the free demo!
Forex Cyclone
The main reason I initially chose this automated Forex trading robot was because of its stable back tests. It trades the EUR/USD on the 30 minute time frame. And so far this year it is set to double my account. What I like about this robot is that has a defined setup, has a good profit to stop loss ratio and generally trades each day when the setup occurs. Mine currently wins around 93% of its trades. This robot is cheaper than Robominer but of course I don’t belief offers the same degree of safety. The back tests on this robot are strong. That is, if you go back through the previous years of trading this robot always comes out with 100% gain per year (NOTE: Using Metatrader Strategy Testing). This is a bargain at the price. There isn’t a free demo available but you do get a 60 Day Money Back Guarantee. Again, get yourself a demo account here and then click this link to get Forex Cyclone.
Forex Insider Pro
This is a trend capture Forex trading robot. Again it runs on the EUR/USD but on the daily Time Frame. This robot works opening 3 trades in a trending market. It places take profits for two of the trades leaving the third open with a trailing stop. A recent update to this robot has meant that it has a much better entry strategy and thus has made it very profitable for me. Again the back test on this robot are really strong. This robot is less exciting though as it can take some time for the right entry setup. There isn’t a free demo available but you do get a 60 Day Money Back Guarantee which is enought time for you to prove that it works. Again, get yourself a demo account here and then click this link to go to the FIP website.
Robots currently retired to the bench
Forex Shocker and Forex Megadroid! The recent volatility in the Asian session have pretty much turned both of these robot into Stop Loss monsters. To give a little background, both of these are Scalpers in the Asian session. To trade well they require the currency to trade within a narrow range. Recent liquidity in the Asian session has meant currencies have trended often breaking support and resistance. Right now these robots do not provide a stable Forex trading system.
Before you run off to some so called review site!!!
There are plenty of websites out there that will push this and that robot. With the above 3 Robots I can guarantee you are in with a fighting chance to make REAL money trading a Forex Robot. I know this because I trade them live.