Many traders are using automated systems and trading robots these days to generate consistent profits. However, anyone can do a simple search for Forex robots and end up coming across hundreds of possible trading systems. With this being the case, we have to ask ourselves how then do we identify the top forex robots and separate them from all the others.
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The fact of the matter is that not all trading systems were created equal. Each trading system has its own formula and its own set of trading parameters, therefore each trading system obviously yields different results.
Here are a few things to look for
First, when seeking out the top Forex robots, make sure that whatever system you choose has some type of back-tested data available. Back-tested data is how the robot or system would have performed in the past.
Even better than back-tested data is forward tested data, or also known as what actually happened in real-time using the Forex trading robot. Find a system that yields consistent results with at least back-tested data.
Secondly, test the system. Some trading systems will actually allow you to take them for a test drive first through a trial period in which you can gain full access to test their service. This is great because it’s like test driving a car where you get to experience it first hand to see if it’s a long term fit.
If whatever Forex system you’re looking at is allowing you to test drive their robot, system or service for a period of time you can be certain they have happy users or clients