Traders often talk about usefulness of Forex robots. For those of you who are new in trading; it is automated software that is programmed to automate the trading process. Most of the robots we have are built for MT4 trading platform as it is the most common platform used for trading. The major convenience that we traders get from Forex robots is trading 24 hours even when we are not able to sit before computers for hours.
However, the critical part is selection of an appropriate Forex robot. Traders need to be extra cautious when buying a Forex robot because market is loaded with scam software that makes high claims of making you millionaire overnight. According to my research, following are the top 3 Forex robots of 2013, as observed by traders.
Fractal Pterodactyl Robot
This robot is really popular with traders. It works by evaluating the trends and then selecting the right time to enter the market. It closes trades only when certain conditions are met. It not only generates signals but also filters out false signals and finds low risk trades to give traders accurate entry and closing points.
Hedge Robot
The hedge robot is a reliable one that is ranked high in the list of proven Forex robots. This robot is totally automatic and does not require any human intervention. It can run on any computer and executes trading of unlimited currency pairs. Good for the traders who don’t want to go through the long process of Forex learning and start trading right away.
Fractal Breakout Indicator
It is the most popular manual robot that helps in early detection of profitable trades. It detects huge movements of up to 1000+ pips. Traders can use this robot for all time frames ranging from 1 minute up to a month. It gives alerts to traders on finding a profitable trade and tells the trader when to enter the market. It also has an email notification system in case the trader is away
All these three robots are promising in their nature.
Your vote will decide the most appropriate one.
The next question is: should we really rely on these robots?
How much trust can we put in these robots?
What if the indication by robot turns out false?
Please give your views about these issues.
Tested Fractal Breakout Indicator. Seems to be a helper. :)
When the ship starts to sink, don't pray - jump!