Choosing the best 3 forex robots is one of the most difficult topics at these days, for the simple matter that currently the forex market is full of expert advisors. To choose these 3 robots among hundreds of expert advisors nowadays is one of the most important tasks in order to success and make profits in the forex market.
In this article, I will try to choose 3 forex robots taking into considerations some of the tips I have already explained in my blog. The most important points I am going to look for while choosing these experts advisors are:
- Does the EA have REAL money account in myfxbook or fxblue?
- Does the EA have long LIVE trading history?
- Does the EA work in any account balance?
- What strategy the EA uses?
Real money accounts in myfxbook or fxblue
Having real money account for any forex robot is one of the most important points while choosing one for your portfolio. I have done some research and found that not all forex robots have such real money accounts. I have chosen the following forex robots to mention in this section:
All these forex robots share real money accounts in their websites. In order to prove I will make a screen shots of their accounts of myfxbook. I will start with one of the best forex robot WallStreet 2.0 Evolution.
WallSteet Forex Robot trades with multiple pairs in their real money accounts such as EURUSD, GBPUSD, USDCAD and USDJPY. What I see in the account is that they also have added another EA and it is called WallStreet GOLD Trader. I noticed that WallStreet Forex Robot is very successful in GBPUSD and it trades very often on it. The EA made more than 700 trades within 2 years. On the other pairs it made as follows USDJPY - 82, EURUSD - 227 trades and USDCAD - 465. The EA rarely trades on USDJPY. The drawdown of WallStreet Forex Robot is acceptable and it is only 18.25%. The monthly profit is 3.95%. I know that it sounds it is low profit but if you are long-term trader with good account balance you can earn very good. The Average loss -47.75 pips and the average win is 14.15. I think it is important to mention the profit factor as well and it is 1.19.
Forex Pulse Detector
Forex Pulse Detector trade only on GBPUSD pair. Even if the EA trades on one pair it shows good results.The total trades until today are 1281. This is since 2015 March. This means it trades the last 4 years. The drawdown of Forex Pulse detector is 50.86, it looks high drawdown however, this EA looks like is developed for accounts with high balance so if you trade on account with higher balance and low risk you can make very good profits. Monthly profit of Forex Pulse Detector is 2.55% Compared to WallStreet 2.0 Evolution is lower. The average loss is -28.86 pips and profit is 19.58 pips. And if we compare again WallStreet 2.0 Evolution and this EA the average loss here is less. The last but not least, the profit factor of Forex Pulse Detector is 1.94.
Forex Diamond EA
Forex Diamond EA has 2 currency pairs in its real money account and they are GBPUSD and USDJPY. The account trades since 2019 March, this means it trades for the last 5 months. On GBPUSD there are 557 trades and on USDJPY there are only 76 trades. So, this EA trades rarely on USDJPY pair, as WallStreet 2.0 Evolution do. The drawdown of Forex Diamond EA is only 8.81%, therefore compared to WallStreet 2.0 Evolution and Forex Pulse Detector, this EA is much better. Another plus, compared to the other 2 EAs is that it has better monthly profit and it is 8.81%. The average loss of Forex Diamond EA is -13.53 pips and profit is 8.86 pips. The profit factor of Forex Diamond EA is 1.37. Compared to the other 2 EAs this one is medium successful.
Live trading history of forex robots
Having long history is good sign for forex robots because it shows that it can be trusted for long period. In this criteria Forex Pulse Detector is ahead WallStreet 2.0 Evolution and Forex Diamond EA because it has longest history and it is 4 years and 5 months, however, WallStreet Forex Robot has 1 year and 9 months and Forex Diamond EA - 6 months only.
High account balance of forex robots
As you know when your balance is high you can be safer in some situations. So, combination of high account balance and low trading lots is very big plus as a trader, however, this way you decrease the profit. But as you know as much you increase the lots as much you can win. If a trader prefer to be save they have to definitely have high account balance and low risk, but don't expect much profit.
If we take a look at the real money accounts of the robots - WallStreet Forex Robot, Forex Pulse Detector and Forex Diamond EA - they have different balances. Current balance of the robots are as follows - WallStreet Forex Robot ($1724.31), Forex Pulse Detector ($19341) and Forex Diamond EA ($562.3). As I already mentioned Forex Pulse Detector is EA for accounts with higher account balance, however, WallStreet Forex Robot and Forex Diamond EA can be used in accounts with balances.
Trading Strategy of forex robots
WallStreet 2.0 Evo is scalper as well as Forex Diamond EA. However, Forex Diamond EA has 3 independent strategies, this ea can open up to 9 trades at once. It can look as grid system but it is not typical grid. Forex Pulse Detector has Hybrid System which helps the traders to trade manually using two buttons BUY and SELL. Thanks to this Hybrid System all trades that are opened manually will be managed by the robot's trading system. In many cases, the traders have the knowledge when the market reverses will occur but they don't know how to manage the open trades and this makes them lose money. This Hybrid System of this forex robot is developed with the purpose to solve that issue.
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