Forex Robots Explained

The real question is: do these FX robots work and how do they go about making decisions in your stead? EAs use an endless variety of technical indicators and custom scripts to derive trading signals and to act on them. Anyone can code EAs directly through the trading platform. There is a vibrant market place where traders and programmers buy and sell the best performing EAs. Top forex robots are well capable of scanning an ungodly amount of charts. Through the technical indicators they use, they then find trading opportunities. Once it identifies such an opportunity, the robot can recommend it to the trader.

It may also act on it, opening a position according to a set of preprogrammed parameters.


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Experience has shown that automated trading only really works within a tight range. Also, the presence of a well defined trend is a major plus. Auto trading profits generally only amount to a few pips. Provided the conditions are right, forex scalping robots can be quite successful.

Because of these shortcomings however, large price swings can wipe out all profits in a heartbeat. It is by no means easy or simple to create forex robots that work. Programmers pour countless hours and tons of effort into building such a piece of software. The sheer number of variables it has to juggle makes it clear that this is no simple exercise.

Killa Gorilla FX Robot - Best Free MT4 Scalping Forex EA

With that in mind, the very idea of a free trading robot that works, quickly becomes implausible. That said, the actual efficiency of a working forex robot is quite unimpressive. Furthermore, authorities consider such automated traders to be unreliable novelties at best and scams at worst. That is probably the reason why you will not find a serious FX publication promoting forex robots.

Do Automated Forex Trading Robots Really Work?

The forex robots industry itself is not conducive to trust. The peddlers of various trading bots do their best to discredit their competitors. It is a bit of a Wild West out there, and the winners are seldom the traders who purchase forex robots. Your best bet to find a working forex robot is therefore to pore through feedback provided by actual users.

Make sure that you are dealing with genuine feedback. Forex robot creators have an uncanny knack for faking user reviews. I believe this goes without saying. Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed.

You can see which paid programs are the most successful here in my best Forex robot tests. Patrick Ryan. Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term.


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    NPK February 16, at pm. Patrick Ryan February 17, at am. Robots allow the automation of analytical and trading processes. They can open and close trades based on certain criteria or calculations that it has been programmed to do. They are capable of opening and closing orders much faster than a human could possibly do, and they can do this 24 hours a day. Provided you have a computer, access to the internet and a trading account set up with a reputable Forex Broker , you can trade the FX from anywhere in the world.

    This is discussed in more detail in the User Manual. It is a fully-automated scalping trading robot and will start placing trades within seconds of starting. Once you setup the robot to start trading, it will open and close trades by itself without any user intervention, and it will do this 24 hours a day. This type of robot is what we call a basket-trading robot, with elements of Martingale and Grid systems, but has Stop Loss, Trend Protection, Spike Protection, a News Filter, and other safety features to minimise drawdowns and maximise profits.

    The settings are highly configurable, but you do not need to learn everything before you start using the robot, because you can start using the default settings immediately. We have done all the hard work - we have spent literally thousands of hours of testing and countless late nights to determine the best settings to use with Killa Gorilla FX Master. We know how tempting it might be to get in and start trading immediately with real money when you see the profits that can be generate with Killa Gorilla FX Master, however it is highly recommended that you test, on a demo account yourself before deciding to trade with a real money account.

    Our Recommended Brokers offer demo accounts to practice with before trading with real money. It is good practice to always test your specific settings on a demo account before trading with real money. Killa Gorilla FX Master features a built-in Info Panel which is displayed on the currency chart showing live statistics of its trading performance, including valuable information such as:. Depending on the risk settings you choose, you can allow it to generate small daily profits with low risk, or increase your risk settings and watch the robot unleash itself!

    FX Master definitely has the ability to make you a fortune, but with high profits always comes high risk, so what we recommend to aim for are modest, achievable, consistent daily profits suitable with your financial situation. You may want to make enough money just to supplement your current income, or you may want to take it more seriously and let it generate enough money to give you the choice of whether you want to keep working or do FX trading full-time - it's totally up to you!

    We are not saying that the FX Master will make you an overnight millionaire, but it can help you achieve your financial goals, whatever they might be! As with any Forex robot, although it is not essential that you have experience trading in the Forex market, it is highly recommended that you have some experience trading and understand all the risks and exposures associated with trading real money with a Forex broker. The greater your starting balance, the larger profits you will be able to generate.

    We can guide you through this. We highly recommend IC Markets as they have very low spreads and good trading conditions. We have tried and tested many brokers, but IC Markets consistently ranks No.