Forex Robot - A Quick Guide to Buying the Best

An automated Forex trading program - or Forex "robot" - is a piece of software designed to analyze market conditions and automatically execute trades based on that information. Some robots allow you to set your own conditions
By: Suzanne Sage
 
Aug. 22, 2009 - PRLog -- An automated Forex trading program - or Forex "robot" - is a piece of software designed to analyze market conditions and automatically execute trades based on that information. Some robots allow you to set your own conditions and parameters, allowing you to customize their trading style to fit your own personal strategy.

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But if you're reading this article, you probably knew that already.

What you probably don't know is how to find the best Forex robots - the ones that will make you money, and not just the people who created the programs. Like any purchase, you should do your research before you commit, especially considering you'll be trusting your money to whatever robot you buy: there are good robots and there are bad robots, and a bad robot can cost you much more than the purchase price.

Before you buy any Forex robot, you should make sure that it's...

-Up to date. No matter how sophisticated a robot is, it can't see the future; it can only make educated guesses based on the past, and with the Forex market in a state of perpetual flux, robots can become obsolete over a surprisingly short period.

-Reliable. Forex robots are designed to watch the market 24/7; they should be trustworthy enough that they can trade 24/7 as well, and make a profit without human supervision.

-Been tested on live accounts. Back test data is all well and good, but again, past performance doesn't guarantee future returns: a simulation based on past market data is useless for determining how well the software works in the live market. Best-case scenario, the developers will offer real time results for the software's performance.

-Got a good refund policy. If a program doesn't work for you, you should be able to return it for a full refund. A 60-day money back guarantee is good business practice: the conspicuous lack of one should in and of itself be a warning sign that you're looking at untrustworthy software.

Don't stop with just the first robot that fulfills these conditions; research several and compare them to make absolutely sure you get the best one. Good luck on the Forex market!

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End
Source:Suzanne Sage
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Tags:Forex, Forex Robot, Forex Software, Forex System, Forex Expert, Forex Ea, Foreign Exchange, Fx Robot
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