Forex Robots: Not The Same With Every Broker
Is it reasonable to expect the forex robot to churn out the same trades and results over both accounts? Surprisingly, the answer is “no” and let's take a look at why that is the case.
Let's say for example that you're running the same forex robot on an Alpari account and on your FXCM account. You've tweaked the forex robot's settings to trade only certain pairs in specific time frames on both accounts. After a few days, you notice that your forex robot has taken different trades in the two accounts and has a varying degree of success. One reason for this is because there is no symmetry in bid/ask spreads between forex brokers. Meaning, while Alpari may show 1.3988 as the bid in the EUR/USD pair and 1.3990 as the ask, FXCM may show the bid in that same pair as 1.3990 and the offer as 1.3992. These are just examples, but it illustrates one reason as to why a forex robot may behave differently with different brokers.
Forex robots can also be thrown off by your computer's connection speed. So if you want your forex robot to trade across two accounts on two different computers, make sure your computers are similar in model type and running off the same network. Of course, it is imperative to ensure both of your trading accounts are taking trades in the same time period and in the same period. One forex robot trading the EUR/USD and the other trading the GBP/USD is obviously going to produce different results. Don't overlook the little things when tweaking the settings in your forex robot.
Forex Robot Default Settings
Don't assume that any of these issues can be avoided by simply sticking to your forex robot's default settings. Using the default settings on a forex robot is advisable for new traders or those who are not particularly tech savvy, but in the long run, it pays to alter your forex robot's settings. This may not lead to identical trades and performance across multiple accounts, but altering a forex robot's settings can at least bring two accounts more on par with each other.
Your Forex Robot In a Live Account
Of course, we strongly recommend running a forex robot in live trading account to get the “real world” results. Some forex robots may flourish one on broker's platform yet falter in another setting. Traders intent on using the same forex robot on multiple accounts should test the robot in a live trading environment because demo account and backtest results are misleading.
Questions and Answers
Forex market was initially opened for the banks, commercial institutions and rich borrowers only, since 1997 it is opened for the rampant public. Market deals amidst the trade of currencies. The price levels of these kinds of currencies kept on affecting and people earn viable profits. Many people are paying for Forex robots for their assistance. Here we are probable to discuss few points which how Forex robots, want Forex Megadroid are helping traders in making nice profits.
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