Choosing the Right Forex Robot

Are you planning to enter the world of forex trading and have newly heard of robots? If you are wondering what a forex robot is, it is a piece of software that carries out forex trading automatically. A forex robot automates trading decisions i.e. their job includes anything from giving you a trade signal or placing the trade on their own. For example the Dual Robot (totally FREE) offers you three modes – Classic, Martingale and Fibonacci – so that you can make maximum profit. In other words, forex robot is a computer program that helps you decide if to purchase or sell a pair of currencies at a given time.

If your forex strategy is purely mechanical and doesn’t need a human for making a decision, you can employ your forex robot to trade for you all the time. The major objective of forex robots is to eliminate the psychological constituent of trading, which can be at times detrimental.

Human emotions such as greed and fear are believed to be the greatest enemies in the world of forex trading because they are the causes of most trades’ failure. These emotions cannot affect the decision of a forex robot and therefore people prefer these robots.

Another reason why traders want to use robots is the age-old dream of man of “earning by doing nothing”! The idea of the robot doing everything without needing one’s supervision or any other work and one becoming a millionaire is tempting for anyone.

But you should beware of fraudulent robots which only harm you and do not do anything good. You should first study to identify good and bad robots. Most forex robots only make you lose money rather than earn. However, there are beneficial robots too which you should test and then use.

Back and forward testing is a method of testing if the robot works for you. Back testing is checking the robot’s success against historical data whereas forward-testing is checking the real time data. So, before buying a robot, you should ensure that it has been back- and forward-tested. You will also have to do your own back-testing in Metatrader.

DualRobot.com is offering automatic trading robot which works even for beginners, 100% FREE! So, why not take advantage of this excellent opportunity to make some serious money?