Forex robots can be a powerful tool to generate passive income. You don’t have to spend hours at the computer. However, Forex traders who are just starting out get burned by Forex trading robots. This is because they do not conduct a thorough Forex robot test before investing any real money. How can you make sure you don’t have a broken robot? This article will teach you how to conduct a Forex robot test. You’ll be able to trade your robot with confidence.
Forex Trading Robots: Why Beginners Get Burned by Forex Trading Robots
Fools rush in, and beginner Forex traders often make a big mistake by investing too much into a Forex trading platform before they have done the necessary testing. Despite Forex robot sellers promising the world and all the money they can make, it is important to verify the results. The reason is that the results you see on their websites are often backtested and have a high chance of error. Before you invest real money in Forex trading, it is your responsibility to test the robot.
If I told you that there is a way to ensure that you don’t lose a cent on Forex trading robots until you are certain that they work, what would it be? As a Professional Forex Systems Designer, I have seen many robots go through testing, then into live investment. There is a proven method that I used to bring them all to life. This can be applied to your robot trading. These are the steps you can use to make sure your robot is working before you start trading it with real money.
How to Risk-Proof Your Forex Trading Account
You’re already half way there if you can find the best Forex trading bot before you take part in a Forex robot test. If you are looking for the best robot trader, you should look for one with a moderate return on investment and a high winning percentage. These robots are more likely to deliver better results than those that promise 95% win rates or the possibility of double- or even triple your monthly income. Forex trading robots with the highest win rates are likely to be closer to 60%, and to return between 5-10% each month.
After you have identified a potential candidate, ensure that you are covered by a minimum of a 45-day money back guarantee. To conduct a real Forex robot test, you will need at least 30 days. However, I recommend that you have at least 45 days. A long guarantee means the seller is confident in their system. You can also return it at any time if it does not work as promised. If you have not already, make your purchase and open a demo account at a reputable broker. You will waste your time if the demo account liquidity is not up to current trading conditions.
Now, you can run your Forex robot on the demo account for at most 30 days. After the minimum period of testing your Forex trading robot is completed, you can check your trading results to see if the results match what was promised. Don’t rush to invest if it doesn’t. You can deposit half the amount you initially intended to trade with and allow your funds to run for another month. If you don’t experience any unexpected events, you can fully invest and begin making serious Forex trading profits.