Forex trading robots are a powerful tool for achieving a Forex passive income without having to be chained to the computer for hours after work. That said, most beginner Forex traders get badly burned with Forex trading robots, and that's because they do not conduct a proper Forex robot test before investing real money into their system. So how do you ensure that you do not have a malfunctioning robot on your hands? By the end of this article, you'll know how to do a proper Forex robot test so that you can trade your robot with the utmost confidence.
Why Most Beginner Forex Traders Get Burned With Forex Trading Robots
They say that fools rush in, and many beginner Forex traders make a fool of themselves by fully investing them into a Forex trading robot before doing the necessary Forex robot test. While Forex robot sellers may promise the world and all the money in it on their websites, it makes sense to verify their reported results no matter how good they might seem. That's because the results that you see on their sites are often backtested results that have a high probability of errors. You owe it to yourself to do your due diligence in the form of a Forex robot test before you commit real money to trading with it.
What if I told you there was a way to guarantee that you will not risk a single cent with a Forex trading robot until you know for sure that it works? In my time as a Professional Forex Systems Developer, I have bought many robots from concept through testing and into live investment, and there is a tried and tested method for doing so that you can apply to your own robot trading as well. Just by following these simple steps, you will be able to know for sure that your robot works before you trade it with real funds.
How You Can Riskproof Your Forex Trading Account
If you can pick the best forex trading robot before you do a forex robot test, you've already won half the battle. When you're searching for the real deal robot trader, look for one that gives you a moderate rate of return and an average winning percentage. These robots tend to give much better results than the ones that promise you 95% win rates and the potential to double or triple your money every month. The best Forex trading robots tend to have a win rate that is closer to 60% and a rough 5-10% return each month.
Once you've identified a promising candidate, make sure you're covered by at least a 45 day money back guarantee before you proceed. You'll need a minimum of 30 days to do a proper Forex robot test, but I recommend 45 days to be safe. If you're covered by a lengthy guarantee, it means that the seller is confident in the system, and also there's no risk on your part because you can always return it if it does not work as promised. Make your purchase, and then open a demo account with a reputable broker if you have not already done so. Be sure that the demo account liquidity matches up to live trading conditions, otherwise you're wasting your time.
All you have to do now is to run your forex trading robot on the demo account for at least 30 days. Once the minimum period for your Forex robot test is over, check your trading results and see if they match up to what was promised on the website. If it does, do not be in a hurry to fully invest yourself. Deposit half of what you originally intended to start trading with, and give it another month to run on your live funds. If there are no unexpected occurrences, then you're ready to fully invest yourself and start making some serious Forex trading profits!