BEST FOREX ROBOT - Success at Auto-Trading

FOREX ROBOT

Introduction

Forex Trading Benefits

The Right Mindset

Forex Trading Benefits

Forex Robot Statistics - Part 1

Forex Trading Benefits

Forex Robot Statistics - Part 2

Forex Trading Benefits

Forex Robot Robustness

- What is a Forex Robot?

- Why use a Forex Robot?

- Key factor to look for in a   Forex robot

- Testing for Robustness

- Live VS Demo Testing

- What to look for in Broker

- Conclusion

forex robot

Forex Robot Drawdown Analysis - Part 1

forex robot

Forex Robot Drawdown Analysis - Part 2

forex robot

Drawdown Recovery

forex robot

The Emotions of Forex Robot Trading

Forex Robot Statistics - Part 1

When it comes to choosing a robot there are tons of different things to look at. To start there are several categories that you need to analyze. First and foremost comes the hard numbers. There are many statistics to look at when choosing a robot and they key is knowing which are the important ones.

The profit factor is one of the most important statistics. It helps to answer one of the most important questions ; is this robot going to make money? It would make very little sense to use a robot that consistently loses money, right?!

Looking at profit factor is essential because it takes two things into account, profit and risk. If an EA is profitable but consistently risks all of the money in your account is not an ideal robot. Taking the chance of losing all of your hard earned money on every trade that you make is too much to stomach for most traders.

Here's how to calculate the Profit Factor:

Profit Factor = Gross Profit / Gross Loss

Once you've calculated this number now it's time to do a quick analysis. If the profit factor is less than 1 you should eliminate it immediately. If the profit factor is above 1 you're off to a great start.

We've mentioned a few times that profit isn't the most important thing to look for in a robot. Many traders wonder how that could be possible. Well, here's an example of a robot that we've tested:

Initial Deposit: $6,500 Total Gain: $4,335 Total Loss: $4,700

Commission: $65 Max Drawdown: $500 Profit Factor: .910

So this robot actually ended up in the positive. It made money but still the profit factor is below 1 so you wouldn't even consider buying this! That's because this particular robot took on way to much risk for the amount that it earned, and therefore should be ruled out.

As you can see, when searching for the best Forex robot you need to be very careful and analyze many different statistics and components.

The Right Mindset Forex Robot Statistics - Part 2