Since there are a number of applications on the Internet nowadays, choosing the right FOREX expert advisors (EA) may be a difficult task. This is especially true in cases where you do not have a guide or a review to show you certain differences between the products. It is also quite a difficult predicament to try every one of them before settling down with a certain product.
Without any external help, the first logical thing to do would be to look for quality in the system that you are choosing. Try to look for reviews on the FOREX expert advisors you have fared with over the years, and try to see the accuracy results on their trading based on particular currency pairs they are matched with.
One thing you should watch out for are FOREX expert advisors that make you believe that there is a single solution or a certain mathematical formula that would work for all currency pairs. Reality is that there are some trader systems that are good for certain currency pairs, but do not work best for all. That is why the first thing you do when you pick particular software is to let it remain with the chosen pair that it works well with. Then the next thing to do is to take a look at the performance it has done in the last five years. If it has achieved well with sustained profits in succeeding months and with minimal drawdown, then you can partly consider that robot already.
Try then to check its money management system. A good gauge would be an amount that had less than 30% draw down…