Introduction
Believe it or not, picking the best uk forex trading Forex trading robots isn’t as easy as heading to the first website you know and buying it on the spot! If only all the promises of high win rates and rapid multiplying of your account were true, but very few of them are. You might even ask “Are there actually Forex robots that work out there?” Thankfully, there are a rare few of the best Forex trading robots that can really make you a consistent Forex income on autopilot. By the end of this article, you’ll know how to make sure that the Forex robot you’re getting is the real deal.
What The Best Forex Trading Robots Aren’t
Contrary to popular opinion, the best Forex trading robots don’t have 90% and above win rates, and nor do they aim to triple or quadruple your account rapidly. Typically, Forex robots with 90% and above win rates have very small gains, but when they lose they lose big. That means that you can and you will lose weeks of profit in one big losing trade, and if it has two or three losing trades in a row, you can kiss goodbye to your capital.
Another thing robot sellers don’t tell you is that while it’s perfectly possible to design a Forex trading robot to achieve 200-300% returns in a matter of weeks, they do so with an incredible risk to your trading account. Big rewards always come with big risks attached, and just as you can quickly double your account, you can quickly blow it up with these over aggressive systems as well.
What The Best Forex Trading Robots Look Like
So what do the Best Forex trading robots actually look like? Instead of judging a robot by its win rate like most beginner Forex traders do, most pro Forex traders gauge its quality by the win to loss ratio. That means that if the size of the average gains are equal or more than the average loss of the robot, then it’s a good Forex trading robot.
For example, if your robot had a 90% win rate, but only produced 10 pips of profit per trade with the risk of an 80 pip loss, then after 10 trades you would only be in profit by an average of 10 pips. Now, if your robot had only a 60% win rate, but produced 40 pips of profit per trade with the risk of a 40 pip loss, then after 10 trades you would be in profit by 80 pips. That’s miles ahead of the high win rate system, 8 times better in fact!
Clearly, if you know what you’re looking for and how the best Forex trading robots actually win out over poorly designed systems, you’ll be far better equipped to make smart choices when it comes to picking a Forex robot that works in the long run. So get the best, and forget about the rest!
I’ve been a full time Professional Forex Systems Developer since 2007. Forex is my passion, which is why I really love helping anyone to overcome their challenges and become profitable in their own trading. If you’re just getting started in trading Forex, or if you’d like to take your trading to the next level, I’d love to help!