We know what robots are the best to work with
What’s up, community. We hope you’re safe and sound Coronavirus goes across the world. A lot of people stay on quarantine at home and can’t make money doing what they like to do, but nevertheless bills, taxes must be paid, and the beloved ones have to be protected. This period of self-isolation is a good time to think about how to change your life from working month-by-month to being a modern slave who has money that is exactly enough for living a month to become an investor who’s got a little bit stable profit that helps in crucial moments like this.
We’ve worked hard for years, as well as, we use robots to make a profit. We wrote a lot of reviews that have been called to understand all the pros and cons of a selected robot. We helped a lot of investors and traders to start trading safely and profitably. The chart includes various products from different companies. Almost all trading strategies are represented in these EAs.
|1||Review||$10000000||$36585291||916.56%||8.05%||0.26%||0.35%||Jul 30, 2018||252473||81%||Real|
|2||Review||$4193||$5000||83.87%||7.29%||0.24%||93.04%||May 13, 2020||3025||80%||Real|
|3||Review||$2100||$3873||193.69%||16.16%||0.50%||31.18%||Jun 25, 2020||159||77%||Real|
|4||Review||$30000||$8372||30.62%||0.90%||0.03%||30.14%||Oct 03, 2017||156||100%||Real|
|5||Review||$5000||$16197||323.95%||31.89%||0.63%||25.94%||Jul 31, 2019||5371||63%||Demo|
|6||Review||€15476||€11371||275.88%||4.09%||0.13%||29.27%||Jul 02, 2017||2061||71%||Real|
|7||Review||$500||$9731||1946.2%||6.51%||0.21%||21.47%||Apr 04, 2016||1669||64%||Real|
|8||Review||$200||$77||38.38%||2.89%||0.01%||27.18%||Dec 5, 2014||416||75%||Demo|
|9||Review||$10000||$126167||1261.67%||4.30%||0.14%||40.97%||Feb 12, 2015||1991||56%||Real|
|10||Review||$100000||$521499||521.5%||0.06%||1.94%||31.06%||May 21, 2012||466||94%||Real|
Table header explanation
We’ve structured data into columns:
- The rank column. It’s a final placement of the robot after analyzing all the criteria.
- The trading system column includes the names of robots and our well-explained reviews.
- The deposit column shows us the amount of the account deposit. We’ve brought this data to save your time on checking myfxbook account.
- The profit column provides data in USD about the amount of profit that the robot was able to receive.
- The gain column tells us about the total gain the robot can provide in percent.
- The (average) monthly gain column shows to us what the monthly results we should rely on.
- The (average) daily gain shows the same but on a daily basis.
- The DD column shows the max drawdown of the robot during all trading period.
- The started column shares the intel about when the account has been started to know how many days it’s live.
- The trades column provides data about the amount of traded deals during the whole period.
- The wins column shows us the real win-rate across longs and shorts trades.
- The chart column allows us to check how smoothly the robot trades without going to the official account.
- The type column means the type of the account (demo or real).
What can you rely on trading via forex robot?
Fully-automated trading brings some positive moments:
- Fully-automated trading allows you not to sit in afront of your MT4 terminal all day.
- The EA looks all the time for the best entry points, analyzing many indicators. Basing on that analysis the robot tries to predict where the market goes. It’s hard to deal with even for professional traders. As for beginners, it’s almost impossible.
- Every EA has been designed on several patterns that have been united in a trading system. A lot of well-known robot developers explain what is behind the robot and what traders should expect from it. As well, a lot of traders pick a brokerage company depending on trading strategy because of restrictions.
- A lot of robot developers provide great services like broker spy module that allows saving your account balance from fraud brokers.
- Another solid option is not only fully-automated but also semi-automated trading. The robot shows the opportunities for a trader and he or she has to make the final decision about place an order or no. It allows well-experienced traders to still be in charge of running this EA.
- Modern robots include push and email notifications in order to keep their owner up to date about robot trading activities.
- You can always learn from a robot something new especially if you want to improve the strategy you already use.
- You can rely on the money management system that protects your account placing stop-loss levels for every deal. If the system is well-designed and you set risk and leverage levels correctly it’s almost impossible to lose your account quickly.
How to check a suggested robot by your own
If you’d like to check any robot from the chart by yourself or any other robot you can find we’d like you to follow the next steps.
- No pushing. You don’t have to be pushed to buy a robot ASAP. If the devs/sellers use the “offer” block more than two times during the presentation this should warn you. Every company that knows their robots are solid never allows itself hardly pushing.
- Wordy presentation. If you meet a 20-30-40 even 50 pages presentation that can mean that the devs try to replace robot performance results and/or backtests to “explanations” how great their robot is.
- The most important block should be available. They are strategy explanations, backtesting, trading results, setting, offer with explanations.
- Strategy explanations
- Strategy explanations. You have to know what is behind EA you would like to run on the real account. What strategies does it use? What strategies does it not use? Are these strategies allowed in your brokerage company? If not, is there any list of suggested brokers?
- Patterns. It would be nice of them to explain how many strategies are applied and how to turn off some of them if needed.
- Backtests. They mean nothing in real trading, but they show how the developers treat their products. How much they want you to trust the product they sell. The best of them even provide explanations now to perform backtests on your own, you can check everything before a robot goes on the real account.
- 3rd part verified trading results
- Myfxbook data is better than Fxblue in proving results.
- Account gain and charts. The robot must be profitable, first of all. The chart of the account balance should grow smoothly. Smooth growing ensure us there was no period of high-risk trading. It’s all because many devs when they decide to start a marketing company of the robot set the robot to trade with high risks and high leverage to show the audience that it’s able to get 20-40% of the monthly gain. Games like these can easily zeroed account and bring a margin call.
- Monthly gain. It should be from 3% to 10%. More than 10% can be reached only with mid risks trading.
- Drawdowns. Less is better your trading experience will be. Try to find an EA with 10-12% drawdowns, max should be 20%.
- Days in life. The best case when the robot trades for 300-900 days or more. It means EA is flexible enough and it receives updates.
- Profit factor. As higher it is as better this is for us. Everything is higher than 1.3 is good, higher than 2 is great.
- Win rate. It should be at least 60%.
- Currency pairs. The best robots can trade 1-8 currency pairs. Never trust EAs that were introduced as robots that can trade all existed pairs. Good customizing for one currency pair is such a big deal. More pairs more work for developers.
- Brokerage company. Pay attention to what broker the robot works with. Usually, the devs try to find the best one to run the robot in order to get the best results, without execution delaying, etc.
- Funding the account. Some devs just spend $1000 funding the account just to show how the robot works. The others spend much more because they not only want to sell a copy of EA to you but also make money by themself via the robot.
- Minimum deposit. The devs usually provide this info you just have to find it. If there’s no in the presentation it should be in the FAQ.
- Lot size. There should be explained how the lot size will be set and how to change it according to the account balance.
- News filter. The robot, if it’s not a “news” one, has to stop trading during the fundamental news events.
- Time filter. It lets you decide what days and hours, the robot is allowed to trade.
- Money management. There must be explanations about how the robot places stop-loss and take-profit levels and availability to customize them.
- Any other additions. Ask the devs about a broker spy module, notifications, chart drawing, etc.
- Money-back guarantee. First of all, check the availability of this option.
- Forex Store. The robot can be selling through well-known sites like Forex Store, MQL5 where EAs are rated and people who have bought them can write feedback.
- Real/demo accounts. More of them is better for you.
- Free updates. This option is a must.
- Support. It should be knowledgeable and quick. Check this before buying a copy of the product.
- Sales. It’ll be jolly good if you get some coupons or discounts.
- Delivering. There has to be explained what way and how quickly you get your copy of EA after payment is done.
- Activation. You have to know how quickly you get your account connected to the robot and ask for availability to change the account using the same license if needed.
See, it’s not this hard. We’re sure you can easily check any robot from our chart or find your own one that fits you the best.