Automatic Forex Dealing Software

by ofnews on 2010/10/19

in Financial Services,International

Do auto Fx trading software really work, or are they just scams? These automated trading software, otherwise generally known as Forex robots or Ea’s, have attracted lots of attention recently. Many people have become skeptical about them as their promises really seem too good to be true (eg. earning money automatically while you sleep). So can you really make money automatically with Forex auto trading robots?

1. My Testing Results with Auto Forex Trading Robots
After months of testing with various Forex robots and systems, automated and manual, I’ve realized that many of them fail to work and have made me quite a lot of losses in testing. Despite the large number of robots that failed, there were a couple that have delivered consistent monthly profits, and I have used them till today.

2. How Risky Is It to Use Auto Forex trading Software?
Despite having automated Forex trading software, losses are unavoidable and will still be made occasionally just like any other form of investment. However, my opinion is that the risk-reward ratio of currency trading, particularly with robot trading, is so low that the risk of making losses on some weeks is well worth taking for the massive potential amount of profits that can be made.

3. How To Get the Best Auto Forex trading Software

Every robot has their own method of trading, profit targets, risk levels and funds management techniques. Generally, I would prefer not to use software that go for large gains but are very risky in nature. In my experience, t is much harder to continue growing your money once you have suffered a huge loss.

4. How to Check The Risk Level of Any Forex Automated Robot?
One good way to test whether any auto Forex trading software is too risky would be to look at just how much maximum it has lost on its backtest results. Backtest results are often available on the robot’s main website.

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