subject: The Best Forex Robots - To Find Them Check These 2 Key Points! [print this page] Forex robots overall have a bad name, while they all claim they can make big profits most lose money quickly and you need to check to key areas of the marketing copy to find the minority of winners. Let take a look at how to find the best Forex robots.
If you look at a lot of Forex robots they make unrealistic claims such as making 1,000% in profit with little or no drawdown, claim they can predict the future or trade with 95% accuracy and if you see any of these claims go and check the track record for this
An Audited Track Record from a Reputable Source
Surprisingly, very few robots have this! They normally present simulations going backwards on paper knowing all the closing data or they present figures from themselves which have not been checked and verified, by an outside source. Only buy robots which have track records which have been substantiated by a neutral source.
Look at Who Programmed the Robot
It's a fact that most of the Forex robots sold online are done by programmers appointed by marketing companies and sure they can bend a system to fit back data and show a profit but in the real world, when the robot is traded and the price is not known in advance they get turned to dust. Many of the robots sold, have pictures or videos of actors or they say his identity must remain secret for various laughable reasons but the real reason is he doesn't exist! Make sure the developer is a known trader and read up on his background.
The Best Forex Robots - Is the Turtle Trading Robot the Best?
The Turtle trading robot is based on the rules legendary trader Richard Dennis developed for his famous turtle trading experiment. The experiment set out to prove, that anyone could trade successfully with the right rules. He taught a group of novices the rules and the rest is history - they made $400 Million dollars with them, in just 4 years.
These rules are now programmed into the Forex Turtle robot and not only do you know the rules are from a real trader and they made hundreds of million in profit, you can actually read the rules and the logic of why they work before you buy them.
Do your homework when buying a Forex robot and you will find the minority of winners which can help you make a great second income.
