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

The robots' powerful 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 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 factors that must be regarded to pick up the right EA and avoid lemons.

It is vitally important to read the sales letter and try to get 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 real forex trader behind it, typically this robot will not have the right strategy, as programmers need the collaboration of forex industry experts 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 systems that it incorporates ? What type of algorithms are embedded ?

(3) What pairs does the robot specialize in ? Is it single pair or multiple pair robot ? The advantage of a single pair robot is that it can have easier strategies and more powerful and effective 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 outcome ? Looking at live results, how does the robot perform. If you are only given old backtest results, you should question the validity of the forex trading robot. There is no 100% wins in Forex, however, you should check if the capabilities is earning profits rather than losses. It is important to look for stability in winning rate over time.

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

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

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

At the time you get sound and logical replies to all the questions above, chances are that the robot is good. However, the currency markets is highly volatile and countless robots operate better at different market phases. Therefore, it is highly recommended to have several forex robots, including a safe trading robot, such as Forex Bullet Proof . Robots with with different strategies, should be used according to the different market situations.

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