First of all you should take a look at “Live Trading Results”. That is by far the most important factor when determining whether an auto trader is valuable your attention. It means tested instructions of real money (not demo) account covering reasonable number of time. Advanced testing demo account is also very important matter. It is not as good indicant of the robot performance as live trading but still it gives you a good indication of whether the software will performe better in the real world. The main reason that the demo account is not as convinced as the real one is that in demo accounts you normally get much better fills (spread, slippage…) therefore making better effects than they would be in the real account. This is especially true for scalping trading robots. forex trading
After that… Back Testing! This is the least intuitive EA (expert advisor/trading robot) operation indicant due to the fact that numerous forex robot developers use dishonest overoptimizing techniques where they take a set of EA parameters and variable stars that would have worked well in the past BUT there is no proof whatsoever that such set of parameters will work in the real trading… forex brokers
Profit Factor – it should be no less than 2 and relative and maximum drawdowns should be reasonably low. Vendors Web Site – Actually this can be a good indicator of what kind of forex trading robot you can expect. If you find out a site that is full of sleazy marketing speech, such as “triple your money every 2 weeks” or if the seller is talking about luxury machines and mansion houses that you will buy after you use his software system you should stay away. You should look at sites that have definite explanation of the software, it’s logic and performance. You also need to make sure that there is a solid tecnhical support for that software. Check it out by asking some simple question and see how speedily they could answer you. One business day should be max. forex
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