Every trader in his life at least once, but was looking for free trading robots. Why not? Download, install, get money on the machine – the dream of any currency speculator! It’s not really that simple. There are some pitfalls that can easily drain your Deposit. Below we will look at the main traps of free expert advisors and options for their elimination. And also tell you how to choose and put on a real Deposit free trading robot to minimize the risks.
Reliable brokers that allow you to work with automated trading systems and not only-Forex4you or RoboForex.
Disadvantages of free expert advisors
Why are free robots not perfect? There are several reasons for this.
1. Free robots are often hacked versions of paid counterparts.
This implies the possibility of incorrect program code, that is, the wrong trading algorithm. As a result, such a robot will trade differently if compared to the official paid version. Despite the fact that experienced programmers do their job well, but sometimes developers put a special protection against hacking, and then hacked versions trade really worse than their paid counterparts.
Also, do not forget that downloading a hacked version of the EA, you will not receive technical support from the developers. This is not always important, since the installation and configuration of the EA is described in the attached manual, but sometimes it can be useful.
2. Free trading systems do not have updates.
Most often, a free expert Advisor is created once, updates to it are not provided. Given that the market is constantly changing, sooner or later any expert Advisor needs code optimization.
Fans who create free versions of expert advisors are usually not set up to track trends and modify their creations in the long run.
3. Often free trading robots use martingale.
This means that they are quite aggressive in trading, so you need the right money management and iron nerves of the trader. Many forex profitable EA do not use martingale.
Yet free experts deserve the attention of traders. Firstly, such a robot can tell you a good trading idea, secondly, it is experience and new information. A good trader always keeps track of new products, keeping abreast of events. And, thirdly, some free robots can make a profit on more or less long distances.
Downloaded, and that further?
Having downloaded the free expert Advisor, the trader often hurries to immediately put the program to trade for real money. Don’t rush it. The robot should at least be tested on history (strategy tester in MT4), and then at least a week, or better 2-3, to trade on a demo account. And only after the described manipulations, you can put the EA on a real account with a clear conscience and a sense of accomplishment. We recommend cent-for the EA there is no difference between cent and classic dollar accounts, for the trader the difference is noticeable. If the EA will merge the Deposit, then in case of trading on a cent account, the trader will lose much less money.
Testing should be fast, because we lose time, we lose money. At the same time, follow the basic rules:
test the robot for at least 1 year.
modeling quality should be 90% or higher.
Summing up, it should be noted that with careful selection among the free trading robots, you can find very good instances. As an example, triodancer Advisor, which, although it trades Martingale, but is able to make a good profit (about 160% per year), or “Asia”, allowing minimal drawdown and does not use the martingale method.
As the saying goes, “who looks for opportunities, always finds them.” And who is looking for the Grail, ready-button “Loot” will always remain in the search. Profit You and remember that the profitability of trade depends very much on the broker you choose!