The ease and potential benefits of using a free forex robot are tempting. However, it's good for investors to keep in mind that the risk is impossible to go away. Trading robots were once very popular among traders in 2007. However, recently the promotions carried out by trading robot vendors have expanded to the general public.

This makes many people who want to get to know the world of forex trading but have limited market analysis skills. The emergence of this forex trading robot is also the answer for investors who want to invest practically or haven't had time to learn technical and fundamental analysis.

Trading robots can also help investors to control emotions when transacting. This can be done because the trading robot is able to automatically carry out transactions with a more measured analysis. Investors no longer need to closely monitor forex movements.

Mistakes in Choosing a Free Forex Robot

As a trader, it is important for you to understand the trading mechanisms and forex strategies properly. A robot is still a robot that is only able to do according to your orders. Therefore, Didimax forex broker suggest you to learn to understand more deeply about trading so that later this forex robot can help you as expected.

Of course, this forex robot is an added value for those of you who don't have much time or are less painstaking in managing manual trading setups. So, if you don't master trading techniques and strategies well, then robots won't help you much.

Choosing a robot without testing is tantamount to a suicide mission. Testing is important, especially for those of you who are interested in trying a free forex robot. You need to test how proficient and appropriate the lure of the big profits offered by the robot, including if you are interested in buying this free trading robot.

With this test, at least you will avoid fatal mistakes that can cause losses when trading. Another mistake traders make is forgetting that robots also have risks. Even though it has its own settings for order execution, the risk of loss is always there. Many traders think that by using a forex robot, they will automatically get a profit.

In fact, at any moment, losses can come at any time, either from unexpected price movement patterns or mistakes from the forex robot used. Therefore, it is important for you to consider and understand the use of forex robots in trading, including the possible risks that will come unexpectedly.

How to Choose a Good Free Robot

The best free forex robot should be tested and able to display their performance in real historical data. To make sure it is truly trusted, you have to pay attention to several things, one of which is the drawdown.

The drawdown is the rate at which capital is reduced. A high drawdown may imply the ability to generate even higher profits. However, a drawdown that is too high can also result in your account being sold out quickly.

Many providers display their performance on third-party sites like MyFXBook, but the accounts are not verified or the robots are only operated on demo accounts. Things like this indicate the robot provider itself is not sure about the robot's performance. 

So, make sure the proof of trading is displayed from a verified real account. Before starting to use it on your real account, first test it on a demo account. The best forex broker will also suggest you so.

The goal is to simulate the results of trading with capital and money management in your future account, which could be different from the account of the robot maker. If the free forex robot maker does not provide a trial or demo version, then you should question its credibility.