Do Forex robots really work?

[Div999]

The effectiveness of the best Forex trading bots depends on the following factors:

• Settings. You need to change the settings regularly to adjust the adviser to the changing market situation;
• Trading financial circumstances. A Forex robot designed for scalping will not be effective on the daily timeframe and vice versa;
• Market conditions. For example, some Forex robots are more effective in a flat, others are more effective on trend movements;
• Fundamental factors. The Expert Advisor works according to its embedded algorithm and does not react to fundamental factors. Therefore, it can quickly drain the deposit. It is better to suspend trading bots during news releases.

A Forex robot is a tool for making a profit. Its effectiveness depends on how effectively you apply it. Therefore before adding it to your trading strategy and looking for the trading opportunity it’s recommended to practice its use in a demo account, even for professional traders.