Posted by Binary Options Questions on Oct 7, 2011 in Forex | 2 comments
Probably not. There are very few, if any, Forex robots that are profitable in the long run. And if there was one, nobody would sell it for $100.
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Only if they have a money-back guarantee. During the trial period, test the robot on a *micro-lot, live* trading account.
I stress live account instead of a demo account because a demo account does not fully replicate a real-live trading environment. One major drawback of demo accounts is that order execution is instant. In the real world, orders usually incur “slippage” when they are executed, especially during times of high market volatility.
This discrepancy alone between demo and live accounts is a major reason why robots tested on demo accounts perform admirably yet fail miserably once run on live accounts.
I also stress to test the robot on a *micro-lot* account. This way, you keep your risk to a minimum (i.e., you risk only pennies instead of dollars on a micro-lot account).
Better yet, why not search the Internet for others who may already be testing Forex Overdrive on a live trading account. In other words, why risk your own money when others are doing it for you? If they publish their results, you can see for yourself if you should buy Forex Overdrive.
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Posted by Binary Options Questions on Oct 7, 2011
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