| If you have ever watched the movie "Terminator" | | | | Fortunately there are ways to get around these |
| you are fully aware that there are "good" robots and | | | | treacherous water by only implementing your new |
| "bad" robots and sometimes it's difficult to determine | | | | expert advisors in demo accounts and by taking |
| which robot to trust. The same applies to "robots" or | | | | advantage of the return policy if they do not |
| expert advisors in the forex market. | | | | perform as expected. Many new robots are simply |
| A robot or expert advisor is simply an automated | | | | recoded or stolen versions of free expert advisors |
| program that uses different technical indicators or | | | | readily found on the internet only to be repackaged |
| price parameters to place forex trades when certain | | | | in a high gloss sales page. |
| conditions are met. The robots are installed on the | | | | I do believe that robots have a valid place in you |
| popular Meta-Trader 4 platform which is common to | | | | trading plan but only after back tests have been |
| most online brokerages. | | | | performed and forward testing on demo accounts |
| Everywhere you look there are new expert advisor | | | | meet you risk profile and expectations. Most EA's |
| robots popping up every day and although | | | | have money management settings built into the |
| improvements and progress have been made | | | | options and stop loss values can be set to minimize |
| recently you can lose your trading account very | | | | drawdowns that can always be expected. |
| quickly and be frustrated by broken promises of | | | | Until next time, keep an eye on those robots... |
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