Lately there’s been a lot of free forex robots that have been released and when I say free, they allow you to take a test drive use their services, signals or automated systems before you have to actually pay the full amount for them. In a lot of cases this is good because it allows you to find out if the bot is really worth the cost.
You can find a lot of free forex robots on various forex forums however in most cases the one’s people give away aren’t very accurate nor do they give great results. The truth is a lot of these systems really do work and produce a decent ROI, it’s just a matter of sticking to your trading plan and following the rules laid out before you.
Most of these are run off of the MetaTrader4 platform and are compatible with the majority of forex brokers. These programs are based on tested and tried algorithms that have been thoroughly back tested and some cases even forward tested in current market conditions. It’s important that one doesn’t rely on back tested data when making a decision simply because back tested data isn’t a guarantee of what’s going to happen in the future. The best system have been traded on live accounts and have been thoroughly documented.
If you’re a technical system trader then you’ll completely understand how automated trading systems work. Some are based on moving averages, other’s MACD while some are based on a support and resistance system. Either way they all have their benefits and mathematical formulas to produce buy and sell signals that can trigger automatically with your broker.
The question at hand is do these systems really work? The answer is yes they do. Some of your top traders and banks use systems to call their trades. If one can stick to the rules and let the system trade the way it’s suppose to there is a possibility of seeing a decent return. Forex trading is high risk and with that the possibility also exists to get a high return on investment. As any trader will tell you the most critical factor in trading is your own human psychology and ability to trade your plan and stick to your rules, even if your rules are following an automated trading system.
There are a great deal of excellent free forex robots out there. Just be sure to do your own due diligence and research before you make a commitment and you’ll find a profitable forex robot.