Forex Robots – Warning! Don’t Even Think About Buying A Forex Robot Before Reading This Report

Thousands of people have been scammed into buying out dated and useless trading systems branded by unscrupulous vendors as the greatest thing on-line. Don’t become the next victim of these greedy operators hell bent on parting you from your hard earned money with their unabashed, cleverly orchestrated scams.

I’m really glad you’re reading my report because this information can save your hide when it comes to trading with forex robots. You’re about to find out about an unscrupulous tactic forex robot developers are using to pull the wool over your eyes. Chances are you’ve never heard of it. It’s called Curve Fitting and they use it to dupe you into thinking their forex robot is going to make you bucket loads of cash when in actual fact it will drain your account faster than you can imagine.

The sad truth is, that thousands have been tricked (myself included) into buying useless trading robots and the worst of it is, that the people who create these programs know that their systems are no good, but they keep selling them anyway, because they know that people will buy them thanks to their dishonest, cleverly disguised sales tactics, built into their fancy web (scam) pages.

If you’re a forex trading enthusiast like me, or even just a beginner, I’m sure you have noticed that there has been a surge of forex Trading Robots that have been released over the Internet in the last few years. I’m here to tell you that the vast majority are absolute rubbish! Try them if you like, but don’t say I didn’t warn you. I have tried more than 30 different systems, in an effort to find a few that actually worked.

So the big question is, which trading robots produce the best results, which ones should you avoid like the plague and what can you do to make sure you don’t get ripped off? I know that’s a lot to contemplate especially if you are just beginning but I am making this very simple for you. See, I already know what makes a good forex robot. You wont have to spend countless hours searching in vein or wasting your money on worthless junk robots if you just follow these four easy steps.

Here are the 4 Steps you absolutely must consider if you want to find the best forex trading robot.

1. Back Tested Without Curve Fitting

Most vendors will sell you their forex robot based on successful back testing.Back testing is important as it shows us that the robot has the potential to profit in live trading. However, you shouldn’t rely on back test results alone as it does not guarantee successful forward trading.

Why? Because the platform used to perform back testing, the MetaTrader Strategy Tester allows you to optimize a robot by testing it over a set period of time against thousands of variables. It’s relatively easy to optimize a robot for a 6 month or even a 1 year period and not have a single losing trade.

This is what is known as to Curve Fit software and the unscrupulous vendors do it all the time. The problem is, robots optimized in this way perform very poorly in live trading. The best forex robots have had very little optimization using the MetaTrader Strategy Tester.

Most of those fancy back test reports vendors show you are unethical and downright dishonest sales gimmicks trying to suck you in. There is no way their spectacular results can be replicated in live trading. So Wise up! Don’t believe what they are telling you until you have done your due diligence. That way you can avoid another forex robot scam and find only the best forex trading robots.

2. Forward Live Trading

This is the absolute best proof that the robot’s strategy works. Not many robot vendor’s will use live trading to support their claim that their system is the real thing. I have found only one that does.

3. Money Management

No matter how well a forex robot has traded in the past, we can never be certain of future results. Hence we need to employ sound money management practices. This allows us to recover from losing trades and is key to long term wealth building with forex Every good forex robot or trading system will have a sound money management strategy in place and will include custom settings so that you can control your preferred level of risk.

4. Low Draw Down

Draw down is basically the total percentage loss experienced by a Robot’s strategy before it starts winning again. No matter how good a system is they all experience losses form time to time. Any forex robot with a draw down below 15% has a sound trading strategy and would be a potential wise investment.

These are the 4 most important criteria that I use to evaluate whether a certain forex trading system is worthy of my attention and I strongly suggest you use them as well. But even then it can still be a daunting task to hunt down and compare all the available forex robots on-line today. And not to mention, expensive! Believe me I know.

That’s why I created Forex-Robot-Reports.com in the hope of saving you some of your hard-earned money and your even more valuable time by providing you with up-to-date comparisons of the best forex robots available on the market.

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