Every few days, a new Forex robot is being released. You can find a lot of Forex robots in the market now. Some are good, some are bad and some are real good. It seems that automated trading has become the latest fad amongst the Forex trading community. The most obvious reason is simple. Automated trading gives you the chance to make a lot of money without having to spend all day infront of the computer. You just need to learn MQL4 programming in order to write a good robot program. The robot porgram will do just as you had programmed it and if you have programmed it well, it can make you a lot of money.
But the problem is most of the Forex traders have no idea how to write programs in MQL4 language. Writing programs is not an easy thing. It takes a lot of training and learning only then you will be able to write a good program in MQL4. So, in order to bridge this gap a fx robot vendor industry has developed. Fx robot vendors search for good trading systems. When they find one, they contact good programmers, either hire them or pay them to convert that trading system into an automated system.
Forex robot vendor industry is so hot right now that every few days, you are going to find a new Forex robot being launched in the market. Now, most of these robots are just simple pieces of junk software that have been written by programmers having no inkling of how to trade Forex. So, how do you know this is a good robot and this is a bad robot.
Most of the time, fx robot vendors talk about the backtest and the forward test as a proof that their robot is good. Backtesting is done with historical data. Historical data relates to the past markets. So, what happened in the past may not work now in the current market. In addition to this limitation of a backtest, a back test ignores slippage that is ever present under live market trading conditions. What this means is that a backtest is no guarantee that the robot is going to work under the live market conditions.
The same thing goes with the forward test. Whatever, to tell you the truth, there is no substitute for live trading results. So, if a Forex robot vendor is unable to show any live trading results on their website, it means that this robot has been never tested on a real money live trading account. It is a raw piece of software that may or may not work.
However, if the Forex robot vendor is able to show live trading results on the website, this means that the robot has been tested under the live market conditions. You should pay close attention to the live trading account statements and see how well it has been performing under the live market condition.
Event Forex Robot is one such robot that has been trading live for the last 9 years. Yes, 9 full years. The developer of this robot Mark Roth is going to release it soon. He will also release the full details of the full 9 years of Real Money Live Trading Account Statements. This is an astounding piece of software. Event Forex Robot turned $10K into $13M in 8 consecutive years without ever getting a single margin call. This robot made an astounding $65,862 from just one trade. It made 14 consecutive winning trades and so on and so forth.
The developer of this Event Forex Robot will let you test it RISK FREE for 60 days. This is a good opportunity for you to test a good Forex robot on your demo account. As always, never trade with a Forex robot straight away. First test it thoroughly on your demo account and only trade live when you are satisfied with it’s performance on the demo. By testing, you come to know a lot about the Forex robot and it’s performance.