Finding the right trading software: our tips

A robot from trading Forex can be either your best friend or your worst enemy. Have you ever found this to be true? If you're like almost every Forex trader in the world, you've at some point bought a trading robot only to find that it wasn't quite what was promised on the product's sales page. To avoid mistakes, let's take a look at how to find the right trading software.

Analyze the type of robot output

The first element to consider is the result of the xbot 17 trading software. Most vendors promote their product as having a winning ratio of 90-99 %. It is only when you look at the bottom of the page that you see that these results were found on "simulated" trading and not on "real time" trading. There is a big difference between getting results in simulated trading, where the parameters are controlled, and getting results in the chaos of real time trading. In addition, simulated trading does not consider "liquidity" as an aspect, which is crucial in real time trading. Finally, simulated trading can be manipulated to allow the forex robot to win all the time, but real time trading cannot and effectively shows you the "real" capabilities of the robot.

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Server-based software

Automated trading software that runs on a computer is vulnerable to technical failures such as power outages, loss of internet connection or hardware problems or damage. This can result in orders not being sent to market or executed at the best price. Any loss of opportunity can be considered a loss of profit. All these technical problems can be avoided when the xbot 17  runs on a server equipped to avoid these problems. In addition, it is the responsibility of the provider to ensure that downtime or interruptions are avoided at all costs. So sign up with a server-based automation software. When Forex robots or EA's seem too good to be true, they are probably a scam. Choose high-quality software that can give you maximum satisfaction. 

Order size limitation

Some trading robots work great when they stick to a particular order size, but things can go wrong when the order size is changed. Before you buy a robot, test it to see how it handles different order sizes, does it perform the same for an order size of 20 lots as it does for an order size of 2 lots. If the robot's profitability or win/loss ratio decreases with a change in order size, you should reconsider your decision to buy it. Not all traders are the same, while someone may be able to withstand a drop of 50% on their portfolio, others will even consider a drop of 25% as the end of their trading career. Before choosing a trading robot, look at how many drawdowns it can have and not just drawdowns on a trade basis, but consecutive drawdowns.

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