A Forex trading robot can either be 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 purchased a trading robot and found 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 robot result type
The first element to consider is the result of xbot 17 trading software. Most sellers promote their product as having a 90-99% winning ratio. It’s only when you look at the bottom of the page that you see that these results were found on “simulated” trading and not “real-time” trading. There is a big difference between getting results in simulated trading, where parameters are controlled, and getting results in the chaos of real-time trading. Additionally, simulated trading does not consider “liquidity” as an aspect, which is crucial when trading in real time. Finally, simulated trading can be manipulated to make the forex robot win all the time, but real-time trading cannot and effectively shows you the “real” capabilities of the robot.
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 may result in orders not being sent to the market or executed at the best price. Any loss of opportunity can be equated to a loss of profit. All these technical problems can be avoided when xbot 17 trading software runs on a server equipped to avoid these problems. Additionally, it is the responsibility of the supplier to ensure that downtime or interruptions are avoided at all costs. So sign up with server-based automation software. When Forex robots or EAs seem too good to be true, it is probably a scam. Choose high-quality software that can bring you maximum satisfaction.
Order size limitation
Some trading robots work wonderfully when they stick to a particular order size, but things can go wrong when the order size is changed. Before purchasing a robot, test it to know how it handles different order sizes, does it give the same results for an order size of 20 lots as for an order size of 2 lots. If the robot’s profitability or win/loss ratio decreases with a change in order size, you will need to reconsider your decision to purchase it. Not all traders are the same, while someone can handle a 50% drop on their portfolio, others will consider even a 25% drop as the end of their trading career. Before choosing a trading robot, look at how many drawdowns it can have and not just drawdown based on trade, but consecutive drawdowns.