What Is The Best Forex Robot?
Every now and then I do a survey of the latest crop of forex robots, or expert advisors as they are more correctly known, to assess what is likely to be the most successful in live trading. This is not such an easy decision as most people might imagine. Firstly, many forex robots can only be rated by the demo tests published either by the vendors or by third party reviewers like myself or Forex Peace Army and others.
As any seasoned forex trader will tell you, demo trading is only an indicator of what “could” happen if an EA is traded on a live account. There are many factors that make demo trading a less than satisfactory test of the capabilities of a forex trading system, factors which are missing on a demo account but are more likely to be present on a live trading account, such as broker interference, even interference by the trader himself (don’t forget that people get jumpy when their life savings are in the trade, and may take steps to interfere with a robot if it seems the trade is going against them).
Anyway, to cut to the chase, I have selected a winner, and it is not an EA I have tested myself, however it has the following advantages:
1.) It is one of the few EA’s which has an independently verifiable live trading statement published not only by the vendors via an investor password, but also by myself and Forex Peace Army, and probably by numerous other websites.
2.) It has been around for more than a few months, so is not a flash in the pan like many EA’s which come and go in the ever-changing forex marketplace. At 45 weeks, it is the longest running of the top 3 live tested robots on Forex Peace Army.
3.) It has started from a relatively low deposit of $500, and has made an average of just over 4% per week in the current test being run.
The name of this expert advisor is Leo Trader Pro, and you can find the live trading stats here: Leo Trader Pro Live Trading Statement
I wrote introductional article on Forex Autotrading in my very new blog please check it http://crookedbot.com/blog/2011/08/introduction-forex-autotrading-is-this-possible/ . Here are some excerpts to discuss:
1. Main problem is to find workable market model
2. Forex robot is just a piece of code in some programming language
3. You have to test developed or bought bot on historical data and demo account.
If you have any questions please ask. I am skilled software developer and have big experience in forex bots.