What is the best forex trading robot available today?

Answer 1

The best trading robot doesn't exist and there is a valid reason for saying that. I actually program trading robots and I do so whenever I get a strategy. Robots are good if you indeed have a plan and a strategy and you can also code. The only reason why a lot of people complain about robots is the same reason why it wouldn't work for them.

First off, it is an established fact that 96% retail traders lose all their money. Just know that at least 50% of them also decided to dabble into the MT4 market looking for profitable robots. They do not care about the strategy behind the robots and truth be told a lot of the robots will not indicate or define their strategy. When some do and you find out that the strategy is garbage. So, anyone who picks up a robot without knowing the strategy it was designed to follow will definitely lose his money and then blame the EA.

Secondly, money management. A lot of people are fooled by highly optimised back test results that they just buy the robot and assign standard lots on their small accounts with no regard for money management. Again, they quickly lose money due to inevitable drawdowns.

Thirdly, combine the lack of knowledge about the EA's (robot) strategy be it good or bad and lack of money management then ask me what you'll get? You're right. Loses.

So, the best you can do is study and practise on a demo or cents account a strategy to determine whether it's profitable or not. If it is profitable, you can then go ahead and create a robot following the rules of the strategy. I am sure when you do that and then backtest it, you will have clearer understanding of EAs (robots) and how effective or how potentially destructive they can be if you don't know what you're doing in the first place.

Downloading and setting SL and TP doesn't make a robot. The strategy is everything. You are better coding a robot or getting a professional programmer code the EA (robot) for you based on your own strategy. There is no better robot than a robot that trades your strategy. I hope that answers your question.