The best ever EA

Donald · #1 (**permalink**) 15-07-2010, 13:07

lately more and more traders use forex robot. i took mine here http://www.freerobot2010.com. it doesnt bring millions but it works stable and brings money, lately more and more traders use it. really comfortable cause if you want to earn by urself you have not so big risk with robot cause it will earn money while you are learning and trying new strategies. try it and im sure you will like as much as i do.

adria · #2 (**permalink**) 17-07-2010, 11:34

Well, all i can advice here is that, before you buy an EA, you should ask the merchant should offer you proof that their EA makes money in live accounts. You need to be on the lookout for live tests performed on real money accounts in actual market conditions. By having positive results in the real world, this not only lets you know that the EA is profitable, but secures your confidence in knowing that it is built on sound principles. If the merchant doesn't offer live forward test statements, and only offers you backtest, or simulated, results, then it is likely a scam.

jackie101 · #3 (**permalink**) 17-07-2010, 17:48

Quote:

Originally Posted by adria

Well, all i can advice here is that, before you buy an EA, you should ask the merchant should offer you proof that their EA makes money in live accounts. You need to be on the lookout for live tests performed on real money accounts in actual market conditions. By having positive results in the real world, this not only lets you know that the EA is profitable, but secures your confidence in knowing that it is built on sound principles. If the merchant doesn't offer live forward test statements, and only offers you backtest, or simulated, results, then it is likely a scam.

Well said Adria. EAs are importnat but the most important thing is to know who to use it and when to use it. You have correctly adviced to back test strategy and analyse actual market conditions.

adria · #4 (**permalink**) 22-07-2010, 05:09

Thanks Jackie for your advice. EAs are importnat but to an extend. Your analytical power and timings play very crucial rule.

jackie101 · #5 (**permalink**) 25-07-2010, 08:59

Well, Many novices fail to appreciate the importance of having the correct outlook toward trading in the Forex market. This is actually about making the proper preparations before beginning to trade in the Forex market. First of all, a novice trader must coordinate his personal goals and mindset so that he can connect with the market as well as with the tools used in Forex trading.

shirley · #6 (**permalink**) 25-07-2010, 09:08

In order to find the best Forex trading robot for you, below there are some things that you have to consider while looking for:

- You have to find the trading robot with proven track records on its performance. Probably, it will not guarantee you 100 per cent success in your trading, but at least you could be confident that the trading robot you have could provide you with some positive results.

- With the trading robot you need to have the opportunity to use stop loss strategy that will help you to avoid losing trades. It is vital to control all your losses even if you are putting your trading in automation.

- While choosing the Forex robot, you have to be sure that it allows you to make some changes in settings.