9 Responses to What is the best forex robot available and do you recommend?

1. RL says:

   April 2, 2010 at 3:54 am

   FAP turbo and Forex Megadroid are both pretty good robots.
2. Common Sense says:

   April 2, 2010 at 3:54 am

   There are two places that you’ll hear how great Forex robots are;

   People promoting them (to sell to you).
   and
   Very skilled traders with years experience that know how to use a good robot to their advantage.

   If you don’t have 5 years of successful trading experience…. stay away from "robots"………… you’re living in a dream world if you think this will be your key to get rich.
3. Paul U says:

   April 2, 2010 at 3:54 am

   I belong to a private group that trades with 9 different Forex robots.

   The thing that I find most interesting is that different robots have different levels of success in different market conditions.

   FAP Turbo seems to be pretty consistent. IvyBot has us all pretty excited. FAP Evolution is worth keeping your eyes on when it becomes available again.

   Spreading an investment across multiple robots has proven to be a very good strategy.

   Best wishes for your success.

   Paul
4. Forex Advisor says:

   April 2, 2010 at 3:54 am

   Probably I recommend IvyBot Automated trading Robot as It has Released With Good Latest techniques and the main asset is attacking "4" currency Pairs according due to 2 Algorithms.

   I have been trading since 9 years in forex market but i have never seen like this before .

   Take a look for Yourself with Back testing of meta trader Video
5. InsideFX says:

   April 2, 2010 at 3:54 am

   I have been trading Forex for 7 years. Personally, I’m skeptical of the successes claimed by some of these forex robot companies.

   Firstly, if the Forex robot is as successful as some companies
   claimed to be, it is only reasonable to expect the robot to trade significant volume – an estimate of minimum 500 million to a yard on a single trade. That’s the minimum that we are talking about.

   Hence, unless the robot trades on macro signals for long term, I’m skeptical of the ability of the robot to get the price it intends to get when it enters into a trade. If the robot targets 20-30 pips profit per trade intraday, due to liquidity factor, which I expect possibly 3-10 pips slippage, then we are talking about very unattractive risk-reward
   ratio here.

   Secondly, these robots trade with broker-dealers and banks. Do you think that these broker-dealers and banks would let you run them around like that, making millions of dollars from them? If you happen to have a friend who works in the bank, ask him or her how things work.

   Here 2 Forex scam articles that I have written.

   http://mytradepage.com/blogs/14/Forex-Scam.html
   http://mytradepage.com/blogs/17/How-to-Avoid-Forex-Scams.html

   Not that I’m saying all Forex robots are scam or it is not worth investing in Forex robots but it is certainly very hard to find a good and legitimate Forex robot.

   Check this, you could find the link on my article that links to the
   advisory letter published on CFTC website.

   The following are some of the important points that are highlighted in the letter:

   1) Understanding Legitimate Foreign Currency Operations
   2) Warning Signs of Fraud:
   a) Stay Away From Opportunities That Sound Too Good to Be True
   b) Avoid Any Company that Predicts or Guarantees Large Profits
   c) Stay Away From Companies That Promise Little or No Financial Risk
   d) Don’t Trade on Margin Unless You Understand What It Means
   e) Question Firms That Claim To Trade in the "Interbank Market"
   f) Be Wary of Sending or Transferring Cash on the Internet, By Mail or Otherwise
   g) Currency Scams Often Target Members of Ethnic Minorities
   h) Be Sure You Get the Company’s Performance Track Record
   i) Don’t Deal With Anyone Who Won’t Give You Their Background
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