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Mike Levingstone, Professional Forex Trader & Mentor<\/strong><\/p>\n Forex trading has always been fertile ground for various scams. Especially when it comes to software that automates trading decisions (EA). Because of this globally popular way of trading,<\/p>\n I decided to solve this ticklish subject topic once and for all time<\/strong> in only 5 minutes.<\/p>\n Are you really ready to hand your trading over to a Forex Robot?<\/strong><\/p>\n I guess your answer is \u2018\u2019YES OF COURSE\u2019\u2019<\/strong>, because otherwise you would not be interested in this topic and read this article. But wait a minute<\/strong>.<\/p>\n Before your money melts away in a second , let me explain to you if it is at all possible to make a robot that will bring you the revenue it promises you from various quarters.<\/p>\n After reading this article, you will be able to recognize the difference between a good and a bad robot and never again<\/strong> gullibly lose money.<\/p>\n Why forex robots at all? <\/strong><\/p>\n A forex robot is forex trading software that automates trading decisions.<\/p>\n They are designed to remove trading’s psychological element, which can be detrimental.<\/p>\n Ok. That is the one big positive side. But the biggest problem is that forex robots and their pre-wired thinking do not compensate for ever-changing market conditions.<\/p>\n Market behavior is dynamic, constantly moving in an infinite variation of three movements: up, down, or sideways.<\/p>\n Most robots are not programmed for all environments, or to recognize a change in the trading environment.<\/p>\n And making a robot that can keep up with all that dynamic and market rules is no easy task.<\/p>\n Even if you get an insight into the backtest, and that the robot has done well in history, it is never a guarantee that it will work well in the future.<\/p>\n How then to reduce and minimize risk?<\/strong><\/p>\n First and foremost, you enter trading cold-headed<\/strong>.<\/p>\n Successful forex accounts are built like any successful business.<\/p>\n With a lot of patience and time.<\/p>\n Great traders do not lose their stakes because they are patient and invest in the long run.<\/strong><\/p>\n Almost all losses are experienced by small impatient investors who try to trade daily and grow faster than market growth.<\/p>\n To answer your question immediately. No, you can\u2019t invest $ 200 and become a millionaire in two months. Don\u2019t be naive and believe in fairy tales.<\/p>\n You have outgrown that! That unicorn they did not invent yet unfortunately in my 15 years of forex trading.<\/p>\n But, the good news is you can get rich <\/strong>with a small stake ONLY if you<\/p>\n How will I know how to recognize a real robot from fraud?<\/strong><\/p>\n Before you buy\/rent a robot, my advice is to always contact the seller first.<\/p>\n Instead of “hooking” on promises to retire next year, find out that your robot contains the following features:<\/p>\n 99.7% of robots use one or usually both of those. It is super easy to make those kinds of robots, making only the seller in profit.<\/strong><\/p>\n Never, ever trust a seller or a product, which doesn\u2019t offer you a guarantee. If a seller doesn\u2019t trust his product to offer you a full refund, why should you?<\/p>\n How much earnings is realistic to expect? <\/strong><\/p>\n There are thousands of EAs for sale, especially on famous EA selling sites and I have tested hundreds of them<\/strong>. Some of them are very expensive while some of them are for free. Despite the price or the comments, almost all EAs fail.<\/p>\n Some experts work well during trends but fail during consolidations and some work during consolidations and fail during trends.<\/p>\n And there are some EAs with a massive growth rate in a short period of time.<\/p>\n The picture above of which I consider a realistic and very profitable trading system<\/p>\n If you clearly see the history of these EAs, you will be able to see a very dangerous drawdown which will put your investment at high risk.<\/p>\n My advice is for all my clients therefore always when buying\/renting EA to look for insight into live results of at least 2 years<\/strong> and do a backtest for at least 5 years<\/strong>.<\/p>\n And what about earnings?<\/strong>\u00a0 Good robots that passed all my tests on all the features I listed above, earned from 10%<\/strong> to 100%<\/strong> per one year.<\/p>\n That percentage has proven to be the best ratio to multiply your investment<\/strong>, with the least possible risk<\/strong>.<\/p>\n How to find a good robot that doesn’t cost as much as a\u00a0 new Lamborghini?<\/strong><\/p>\n Like everything else in the world – everything worthwhile has a price.<\/p>\n And yes, good robots cost money.<\/p>\n There are also several robots on the market that are made mainly for “big players”,<\/p>\n such as banks<\/strong> and funds<\/strong>. But they are also allowed to be traded by “small traders”.<\/p>\n But such EAs are particularly difficult to come by.<\/p>\n But fortunately, several creators of successful robots<\/strong> know to sometimes give their EA for free<\/strong> for a certain period of time.<\/p>\n Why? It\u2019s always a good marketing ploy, their good reputation spreads fast that way, and at the same time, they get a well-deserved brokerage commission while you make money on their brainchild too. Win-win situation, right?<\/p>\n Since such actions don\u2019t happen that often, I find my favorite EA creator and follow his work (subscribe to his email list<\/strong>, follow on social media), and wait for him to announce the action.<\/p>\n But before all that, I make sure<\/strong> that such a robot contains<\/strong> all the features I listed above.<\/p>\n I usually look for these types of robots on Darwinex, who have very strict criteria when evaluating their robots.<\/p>\n One of the robots<\/strong><\/a> I\u2019ve been trading with for over two years now with 200 %<\/strong> profit, I found on that list in Darwinex<\/a>.<\/p>\n What is absolutely a must-have with a good robot?<\/strong>\u00a0 <\/strong><\/p>\n OK, once you find the ideal robot – that’s it. Ummm, not really. It\u2019s like finding a beautiful luxury house that has no foundation at all.<\/p>\n Do you know that story about the three pigs? Yes, it will be like that.<\/p>\n What few will tell you is that you need a good server. But I mean a really good server. <\/strong>Why? Because the bad one will be congested, slow, miss trades, or just fall all the time.<\/p>\n Good: up to 100ms. Instant trade orders to your broker<\/p>\n Bad: over 100ms. Trades will execute with delay, costing you money.<\/p>\n Good: over 99.5%. Trades will always open\/exit as required<\/p>\n Bad: less than 99.5%. Trades will enter or close at different prices.<\/p>\n What good is it to you to have a Porsche, when there is no fuel in it?<\/p>\n But the good news is that is not a problem to find today. There are servers specifically already customized for ea robot settings. Some of them even offer a monitoring service<\/strong>, which is always a good option for added security.<\/p>\n I personally use HETZNER<\/strong><\/a>\u00a0 because it is super-fast, reliable, and has great support.<\/p>\n Now we’ve been through it all. A good robot<\/a> ,a good server<\/a>\u00a0 , and of course a reliable broker and your trading can begin.<\/p>\n Good luck and remember:\u00a0 Invest in the long run<\/strong> and don\u2019t try to outsmart the market, it\u2019s a painful lesson. There is plenty of \u201cjuice\u201d for everyone.<\/p>\n Mike Levingstone, Professional Forex Trader & Mentor Forex trading has always been fertile ground for various scams. Especially when it comes to software that automates trading decisions (EA). Because of this globally popular way of trading, I decided to solve this ticklish subject topic once and for all time in only 5 minutes. Are you […] Continue Reading \n
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IPS<\/a>, No PR<\/a>, Wire<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"