![]() ![]() Even the results look great on these websites, past performance is no guarantee of future performance. It is best to filter EAs by looking at stats on independent sites such as myfxbook. ![]() To avoid scams, don’t pick an EA that isn’t tested by an independent website. I highly recommend choosing a forex broker that allows you to trade micro-lots (cent account) to start real trading with minimum risk. Read More How to Identify and Avoid FOREX EA Scams and Fraudīefore you invest your money, it is essential that you test the robot with a demo account and do a backtest with historically accurate market data.So you also should choose an Expert advisor based on your appetite for risk. The most profitable robots are usually also the riskiest ones. Before using a robot with a live(Real) trading account, you need to understand the financial risk that you can afford to take. To find an EA that fits your trading style and risk tolerance, you need to analyze various statistics such as maximum loss (drawdown), profit ratios, Consistency, and the risk-to-reward ratio.įorex trading is very risky, you can lose all of your money even with a robot that displays good statistics. The numerous commercial EA that are available and frequent scams do not make it any easier to find a robot that genuinely works well. Forex robots (EA) have become very popular ever since the MetaTrader 4 trading platform was released. ![]()
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