How to Trade the Best Forex Robot in 2019 for Free
Finding the best forex robot (aka ea) is as difficult as finding the best manual trading strategy. Believe me, I know. Many traders discover the hard way that manual trading is not “their thing”. Because a lack of time and a lack of patience, many traders simply lose constantly. As a result most traders are desperate to find a holy grail ea, but let me warn you…. it’s not easy as well!
This article will explain about the following topics;
- What is the best forex robot in 2019?
- How much does a forex robot cost?
- Why you should not pay for a forex robot
- Why forex robots lose money over time
- Which steps to take to get any EA for free
What is the best forex robot in 2019?
I hear this question daily and is hard to answer. Because each trader is looking for a different forex robot with specific risk settings. So basically a trend following ea can be working for you, where a grid strategy would be working for another trader.
In 2018 the forex robots that drew our attention were definitely the Piphiker, the Worthy FX EA and the Z trader FX EA. However, it will be interesting to see how these forex ea’s will behave in the upcoming year 2019. Since market conditions constantly change it can effect on the results of a successful and proven trading strategy.
In case you wish to read more about the forex robot reviews of 2019, click on the link.
How much does a forex robot cost?
The average price of an EA varies from $200 to $600. To pay more you need to realize that the EA first needs to make a lot of gains before the purchase price is recovered. Some EA developers charge a fee per period and needs to be renewed in order to keep on trading.
So why is there such a huge price difference?
I really don’t know and it must have to do with marketing and greed. If you take a closer look at any EA track record there is no connection between a high price and good results. Therefore whoever claims to sell the most profitable forex robot will probably not sell this EA the year after. For this reason I recommend to never pay too much for any forex robot, since it’s not worth it.
Why you should not pay for a forex robot
Why pay for something if you can get it for free? Besides as I will explain below, all “no loss forex robot strategies” will eventually stop being successful because of changing market conditions. We acknowledged a long time ago that forex robot traders need to constant monitoring / analyze their strategy to remain successful. Thus, in case markets change, the EA needs to be adjusted. For those that are not experienced enough to see and recognize market patterns, its better to team up with a professional team specialized in algorithmic trading.
Another important aspect to automated trading is selecting an EA friendly broker that sides with you! For instance, whats the point of trading a good EA with a broker that does not offer great execution.
Why a forex robot loses money over time
Have you ever seen an (honest) track record of longer than 3 years? Me neither! However, you will find them as long as the developer acknowledges that market conditions constantly change. So in case the EA does not offer a built in settings dashboard the developers needs to renew his algorithm.
In the beginning of 2018 we offered some well performing trend following strategies, but unfortunately the markets caught up with them. Still under construction the developer did not manage yet to make this strategy profitable for this year with the current market conditions.
In other words… your current forex robot will probably lose money in case you do not recognize changing market conditions!
Which steps to take to get any EA for free
- Open a free broker account with one of our preferred brokers. [link]
- Fund it with at least $5000* and select your favorite EA
- Select your favorite EA and start trading
*for smaller account sizes we offer separate bonus packages.
So basically you get the same broker with the same terms and your preferred forex robot comes for free. Including full support and installation.
Why would you pay for any forex robot if you can trade it for free? Not only that but ongoing monitoring of the algorithm. Basically I am a big fan of robot trading however with human monitoring!
For more information you can contact us today.