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During the past couple of years, a massive number of currency trading robots were launched, leaving forex traders confused and searching for the answer - which forex bot will just simply bring in money and not create losses.

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

Before selecting a forex expert advisor, there are several points that must be regarded to pick up the right EA and avoid lemons.

It is extremely important to read the sales letter and seek out answers to the following topics :

(1) Who is the maker of the robot ? Is it a respected group in the forex market, a forex trader or just a programmer. If there is no authentic forex trader behind it, usually this robot will not have the right strategy, as programmers need the assistance of forex specialists to build in the right programs.

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

(3) What pairs does the robot specialize in ? Is it one pair or multiple pair robot ? The advantage of a single pair robot is that it can have improved strategies and more successful algorithms for trading a single pair, than a multiple pair robot. However, more traders who are ready to partake in multiple pair forex traders can use the multi pair robot.

(4) What are the robot's results ? Looking at live results, how does the robot software 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 check if the capabilities is getting you a good return rather than losses. It is important to look for stability in winning rate over time.

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

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

(7) Available support service and refund policy. Look if the sellers mention support, as for some EAs no help support is given and you should avoid those. Also the majority of robots come with a 60 day cash back guarantee. Make sure that this is clearly pointed out. In this case, if you are not pleased with your the robot, you can return it within the 60 day term and receive 100% of your your payment.

Once you get sound and logical answers to all the matters above, chances are that the robot is good. However, the currency markets is highly volatile and countless robots perform better at different market phases. Therefore, it is strongly suggested to have several forex robots, including a safe trading robot, such as Forex Bullet Proof . Robots with with different methods, should be used according to the different market situations.

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