Forex Robots Basics

If you are new to Forex trading or even if you have already blown a couple of accounts, you may have heard of the so called forex robots also known as forex expert advisors or EAs. These are automated programs which you install onto your MetaTrader4 platform so that they use the logic of winning trading strategies borroed by experienced traders to trade for you. Most of them are fully automated so you do not even have to know abything about forex trading or computer software! Sounds nice, doesn't it? If only it was true. As a matter of fact, we have to be fair - not all forex robots are scam. It is true that most of these forex expert advisors are written with the idea of selling as many copies online as possible, but let us not generalize. It will not be fair to the authors of those fiew authentic pieces of software that is really capable of trading successfully for you! I have personally tested virtually thousands of Forex Expert Advisors - all of them blessed in different press releases by all kinds of Forex Pros. I can tell you one thing for sure - almost all are simply a marketing trick to fool you into buying them for anything from 20$ to sometines even 2,000$. The only two genuine Forex Robots that I have found to actually be able to follow a long term winning trading strategy are Forexmegadroid and my favourite one B.O.R.N Night Owl. They too have the problem of marketing oriented sites, showing off with all kind of testimonials, results and promices. But they work! May be not immediately, may be they will lose from time to time, may be they will even have big losses ocassionally. But in the long term they can really bring substantial profit. I personally use both on my live accounts (separately, of course). I am not a millionaire, I can tell you that - but there is something I have achieved - my pension fund is now ready, and I can retire any minute without worrying about my finances. Let's hope I live long enough to deplete the profit that those two programs made for me, and thanks a lot to their creators - not really sure about their identity but those proved to be decent guys. Good luck with your trades and go for those two, especially the Forex Pros B.O.R.N Night Owl Forex Robot!