Almost daily now you will find a new forex robot hitting the market. If not daily then at least in a week, you can find many new expert advisor (EA) promotions hitting your email inbox. Most of these forex robot vendors are not satisfied with one email. You will get a sequence of emails from these vendors and their affiliates begging you some how to buy their Expert Advisor.
First, if the EA has been so successful trading forex, why would the robot developer need to make money by selling the robot. But there are some genuine EAs in the market that do show very good performance. Trading with a robot is not that easy as you will be told by these vendors.
You have to learn a lot of things in order to start making money with an expert advisor. First, you should know about forex trading and something about technical analysis, after that you should be familiar with the MT4 or what is the MetaTrader Platform. You should be able to backtest the robot as well as forward test it.
Here many people fail. They find it difficult to backtest a forex robot. If you do not test an expert advisor thoroughly, you do not know how well it is going to trade live. Testing can give you a lot of information about the behavior of the robot under the live market conditions.
But, you do not have to worry more. Uriel Katz, an expert advisor enthusiast and a forex trader has developed a Forex Robot Auditor software that does all the testing for you. This Forex Robot Auditor…