Sometimes I hear people ask if an expert advisor really worked then why would anyone ever make it available for other traders. Surely you'd keep it locked up and secretly trade with it in order to hoard your own private fortune. Well that wouldn't be necessary. First off expert advisors require a lot of testing and with live accounts, expert advisors developement never ends and the larger the user base the faster they can evolve. More importantly we must remember an important reality that the Forex market is large, absolutely gigantic! Even if 1000 traders were running an identical expert advisor on the same currency pairs, they'd still be such tiny drops in the currency ocean where where trillions are traded evey day. There is no way they'd have any impact on the others. This is not even considering that every robot will be running with different presets. For example scalper settings or long term trades. Optimized for various trading strategies and profit targets. As well as different risk exposure, stop loss configurations, trailing stops, drawdowns, what percentage of the bank trade with. The list goes on. In summary, your expert advisor trades according to your account situation, risk aversion and earning targets. Simply put no two traders are alike.
Review of Forex Maestro EA
What a forex expert advisor brings to the table is awesome number crunching ability, quick reaction time and a focused, consistent, cold unemotional execution of trades according to your preset strategy. Best of all, they open the door to absolute beginners to enter the exciting and profitable world of trading currencies without the need for any experience before starting.
The Forex Meastro has only just been released and already has shown itself to be a formidable scalper EA. We've been conducting our own tests on this expert advisor you can read our full report here Forex Maestro Review
This expert advisor might be new to many but it has been in development for several years and active trading use for a select few. Fortunately it is finally being made available to all at a very low entry cost complete with a full 60 day money back guarantee. This price will be rising soon so you should definitely take advantage of this oppurtunity and test out this you should test out this EA earlier rather than later. As always you should start with a demo account with a good broker while you thoroughly test the forex EA before running it on live trades.
Here is a quick run down on the Maestro EA. This is a scalper EA. It has been designed to trade on the USD/CHF USD/CAD EUR/USD EUR/GBP currency pairs. This is very active EA and it trades frequently throughout the day. It uses a unique system of counter intuitive trading, that is, when the trend moves against it, it will place additional trades to increase its profit when the movement reverses. Most of the time this strategy is extremely effective and can pull in winning trade after trade in a very short time. However it is also a risky strategy in the event of a big price movement against it which can result in big draw downs. This is not a EA you should leave unattended, unless you have adequately tested it on a demo account, have previous trading experience, and have carefully chosen your stop loss setting.
The setup of this EA is quite straight forward and the documentation is adequate. The documentation is more than enough for anyone familiar with metatrader4 with other expert advisors. There is also pro version of this EA with many advanced features, most control of settings and safeties built in.
Forex Maestro risk free for 60 days. However the price is likely to increase once the initial launch is over, so if you are considering using this you should secure your it while it is still available.
Download Forex Maestro
As always, test your your EA thoroughly with a demo account before you start live trading.
For those looking for something a little less exciting from a high end forex EA that follows a minimal risk, maximum profit long term trading strategy you need to trial run GOMega Xray from Quantum Research. This EA will be available for 3 days only from March 19th to the 21st 2009. Even though Xray is a high end Forex trading EA, The makers are making it available to download as a free trial for 10 days. This is a great chance to test one of the best EAs to be released. For information on how to get your 10 day free trial version visit GOMega Xray download
by Alexander Farley FAPTurboReviews.info
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