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By Philip Moore

One of the many recently released forex robot software strategies on the market is the Forex Growth Bot. You are almost certainly to have got word of it as there are several Internet affiliate marketers currently looking to sell this strategy to you from their websites. The interest that this system has received is off the back of the company’s claims to be able to double or even triple the value of your bank account in a matter of a few months. But is it really a genuine money generator or a mere hype? To obtain an unbiased view on whether these claims are genuine or not it is important that we first take a closer look at the product and the market in which it is expected to perform.

The system is designed to trade on the global currency markets which, by volume, are the largest financial markets in the world. These markets are volatile and prone to big moves throughout the course of the trading day. For this reason many traders are attracted to this market as a way of making high profits in just a short space of time. This can prove a reality and many trades will make high profits from just a few moves in the market – however many more will make big losses from similar moves.

The name of the Forex Growth Bot indicates the intentions of this system which is to grow your trading capital by trading on the foreign currency markets. ‘Bot’ is actually a contraction of the word robot can be likened to search engine crawlers like Google bots and connotes automation and automated systems. The Forex Growth Bot Expert Advisor offer traders with an automated means of trading the Forex markets around the clock. Or to put it another way, it is a set of predefined trading rules which are able to determine the best points to trade in the market. The ‘EA’ in its name stands for Expert Advisor which is the name given to preset trading strategies which are executed with the MetaQuotes Company’s MetaTrader trading platform. Many Forex brokers now offer access to this platform which is freely downloadable.

The built in feature of MetaTrader, which allows the use of these Expert Advisors means that it is possible for anyone to actually develop a trading system with their own set of trading rules and logic. The Forex Growth Bot Expert Advisor is written in Meta Trader’s unique proprietary programming language known as MQL4 and integrates the developer’s own proprietary set of trading rules and parameters with MetaTrader.

It’s a pity we can not pry open this MetaTrader Expert Advisor to see what really makes this robot tick. We can only surmise that the trading system uses some or a combination of trend-following indicators to determine the entry points, and a money management program to calculate the exit points. A trend based Forex strategy will need to be able to identify the trend early in order to earn the highest level of profits from its trading. Trend strategies can often identify false moves which cause them to be stopped out, but will recover these losses on successful trade entries! When the system has identified a solid trending move it will then increase its exposure in order to obtain the highest level of profits from the move. From a close inspection, this looks to be the way in which the Forex Growth Bot generates its returns from the markets.

False or ‘whipsaw’ moves in the market happen often and can trigger any stops that you have put in place. Each stop that its triggered will gradually eat into your trading profits! Overcoming this problem was a central feature behind the development of the Forex Growth Bot. It has an effective money management system that sets trading stops carefully calculated to cut losses early. This allows the system to focus on risk reduction and preserves its capital for taking advantage of the larger trends in the long term. Indeed, any trading system that incorporates such a tight stop loss strategy has a greater chance of ending up on the profit side in the long run!

We are frequently reminded that past performance is no indicator of future performance when it comes to financial trading. However, we should not belittle the claims of Forex Growth Bot of achieving an almost unbelievable 1000% percent trading profit in only a few months of trading! If it can continue at this rate then it could make you very good returns on your investment! Just make sure you have sufficient margin to sustain you until you are able to hook that proverbial profitable trade. The system trades most profitably on the EURUSD currency pair and this is what is recommended by the system developer himself.

About the Author: You can try out the

Forex Growth Bot

on your account with a full 60 day money back guarantee.

For a full review and to follow the live trading of this robot in our live tests, visit us at http://www.fxsystemtrader.com now.

Source:

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