Forex Robots
It is impossible for us to list every forex robots in the market since there are easily hundreds-thousands of forex trading robots in the forex market.
We selectively pick those forex robots with potential and list them here for reviews and updates.
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Class A Forex Robots
- Forex Megadroid (95/100 pts)
- Fapturbo (85/100 pts)
- Forex Brilliance (85/100 pts)
- Forex GForce (85/100 pts)
- IvyBot (80/100 pts)
- Supreme Complexity (90/100 pts) (Latest Arrival in Jul‘ 10)
- Xtreme Pip Poacher (90/100 pts) (Latest Arrival in Jul‘ 10)
- Pro Forex Robot (90/100 pts)
- Forex PipBot (83/100 pts) (Latest Arrival in June‘ 10)
- Reservoir Pips (85/100 pts)
- GBPBot (83/100 pts)
- Forex Pip Stack (80/100 pts)
- Forex Black Panther (80/100 pts)
- Forex Spectrum (80/100 pts)
- Forex Cash Evolution (80/100 pts)
- USDBot (80/100 pts)
- Forex Juggernaut (80/100 pts)
- Forex Knight Rider (80/100 pts)
- Fap Turbo Evolution (95/100 pts)
Class B Forex Robots
- Forex Legend (75/100 pts) (Latest Arrival in Jul‘ 10)
- Zone 99 Forex (75/100 pts)
- Steal Pips (75/100 pts)
- Forex Magic Bullet (75/100 pts)
- Forex Redeemer (75/100 pts)
- Forex Torpedo (75/100 pts)
- Forex Ripper (75/100 pts)
- Forex Juggernaut (80/100 pts)
- Forex Empire S.B (75/100 pts)
- Forex Enforcer (76/100 pts)
- Forex Trend Scalper (70/100 pts)
- Forex Monster (70/100 pts)
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Definition of Forex Robots
Forex Robots are not actually a “robot”, it won’t clean your house or do your income taxes, but it will help you with your forex trading while you are gone. Many people lead fast-paced lives that don’t allow for sitting at a computer screen for hours on end, which is why forex robots exist, to save forex traders both time and money. They make educated decisions regarding your trades and exchanges in the market based on analysis of market trends that it collects. With this data, it is sufficiently armed to increase your profit and lessen your loss.
You may be wondering exactly how risky using a forex robot it. Unfortunately forex trading of any kind is not an exact science so you are always taking a risk, however it just depends on which kind of robot you use and your specific needs. It becomes more of a risk for you if you are using a semi-automated robot when you are a full-time trader that doesn’t have the time to sit down and monitor all of your trades. Semi-automated robots only advise on decisions regarding your trades, they don’t make decisions for you. It would be highly intelligent of you to do the research and learn the knowledge you need to know before purchasing a forex robot.
The biggest down side is that a lot of forex traders rely too much on their robots. These are supposed to be tools not a system that does everything for you. This has two major problems, the first being that forex robots are not perfect. They make decisions based on past performance, but past performance is no guarantee of future success. You have to actively watch what your robot is doing, however this brings us to the second problem with relying too much on your robot. If you use it as a completely automated system you will never learn how to trade on your own. This means that you won’t recognize when your automated system is doing something wrong.
The second problem with forex robots is that a lot of people believe that they are miracle systems that work perfectly every time, they aren’t. They are tools that can help you to make decisions on your trading strategy. If you rely on an automated system to make trades for you there is a very good chance that you will end up losing money in the end.
A problem that is related to believing that your robot is perfect is that a lot of people who use them make poor money management decisions. Good money management is essential to being a successful currency trader, you can’t automate that process. A lot of people try to and this inevitably results in failure. No machine can know how much you can afford to lose. It makes trades based on signals that indicate good times to buy and sell, it cannot manage your money for you.
An automated system can be an excellent tool to help you to trade forex, as long as you realize that it is just that a tool. There are downsides to forex robots and you need to be aware of this before you decide to use one. Ultimately you have to make your own trading decisions no machine can do it for you with any real degree of success.
