Using forex robot can give a lot of advantages to forex trader because they don't need to watch market movement all days. Learn more about it in this post
What is forex robot
Forex robot is a script (programming code) which created by a programmer to run a specific trading strategy so it can trade 24 hours a day without stopping. With using forex trading robot, the forex trader don't need to watch market movement or even make an analysis about market condiction since the robot will open the order and close it with profit. It means they only need to rent cheap VPS server so their forex robot can run 24 hours per day from Monday to Friday.
Forex Robot Types
There are free and paid forex robot. Free forex robot usually can be found in most of forex forum and people can download it fore free. Since they can get it for free, there is no guarantee if the forex trading robot can really give consistent profit everyday. If you ask me then I can say if there are a lot of free forex trading robot which is can't give consistent to their user.
You will need to test them first before using real account or you might end up losing all of your deposit at once.
How about paid version of forex robot? Looks like I don't need to answer this question directly. Instead of answering it, I want to tell you this. If the forex trading robot really can give consistent profit, give me a logical reason to sell it? If I were a creator of this kind of robot then I will keep it by myself or I will share it for free.
There are a lot of scammer out there who selling a rubbish EA (forex robot). Usually they also will attach the trading result of forex trading robot. They will upload amazing result like $10000 profit or more after using it. I have a question, if they really make those huge profit then why they sell it for $100 or $200? I'm sure their profit (in their trading result) far more bigger than it. I don't find any reason why the forex robot price is that cheap if it compared with their EA trading result. That's not make a sense. Of course they always come with different ways to scam people but their promoting method is always same and you will need to be smart or you will getting scammed by them.
The facts of forex trading robot
That's the sad facts about forex trading robot. If you don't believe me then you can buy one of them and test it by yourself. At least I already warn you about that. It will be better if you learn about forex by yourself and practice about manual trading so you can decide when is the best time to trade and when to stop.
Usually most of forex robot failed when market moving in high volatility especially when the market releasing important news which can give high impact in market price. If you still want to use forex robot then I can't do anything. At least don't forget to test it first in demo account for at least 1 month so you will not lose real money.
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