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During the past couple of years, a large number of trading robots were launched, leaving forex traders perplexed and looking for the answer - which forex EA will just simply bring in money and not get losses.

The robots' persuasive graphics, sales letters and stories make each robot appear like its the best thing that ever materialized to this world and will make thousands of traders successful. However, not all robots are produced equal. In fact, some are good but the majority will not work and in fact can easily loose the whole account.

Before picking a forex expert advisor, there are various factors that must be taken into consideration to pick up the right EA and steer clear from lemons.

It is extremely important to read the sales letter and try to get answers to the following topics :

(1) Who is the producer of the robot ? Is it a recognized team in the forex market, a forex trader or just a computer programmer. If there is no genuine forex trader behind it, usually this robot will not have the right strategy, as programmers will need the assistance of forex industry experts to build in the right programs.

(2) What is the robot's strategy ? Is it a scalping software or swing trading software ? What are the technological innovation that it incorporates ? What type of algorithms are embedded ?

(3) What pairs does the robot is dedicated to ? Is it one pair or several pair robot ? The benefit of a single pair robot is that it can have improved strategies and more powerful and effective algorithms for trading a single pair, than a multiple pair robot. However, more traders who are ready to involve in multiple pair experienced traders can use the multi pair robot.

(4) What are the robot's end results ? Looking at live information, how does the EA perform. If you are only given old backtest results, you should question the authenticity of the forex trading robot. There is no 100% wins in Forex, however, you should find out if the capabilities is earning profits rather than losses. It is important to look for stability in winning rate over time.

(5) Additional capabilities that are important are exact money management rules and broker stealth mode, to avoid losses.

(6) Available user manual and easy installation - Does the robot comes with user manual or videos ? Is it very simple to install ? Afterall, most Forex traders are not computer scientists. They want to start trading and not mess around with a program's set up process complexities.

(7) Available support service and cash back guarantee. Look if the sellers mention support, as for some forex software no assistance is proposed and you should keep away from those. Also the majority of robots come with a 60 day cash back guarantee. Make certain that this is clearly pointed out. In this case, if you are not satisfied with your the robot, you can return it within the 60 day time period and receive 100% of your money back.

Immediately after you get acceptable answers to all the matters above, chances are that the robot is right. However, the currency markets is highly volatile and countless robots operate better at different market periods. Therefore, it is highly encouraged to have two or three forex robots, including a safe trading robot, such as Forex Bullet Proof . Robots with with different techniques, should be used according to the different market cycles.

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