In this post I will be reviewing the Forex Earth Robot. MyFxBook verified results are showing more than 100% gain in just a few months at the time of me writing this review – albeit only on a demo account. Monthly gains are around the 30% mark. Forex Earth Robot a fully automated forex trading system developed for the free to download MetaTrader 4 trading platform. It will work on any MetaTrader 4 broker although I always recommend a regulated true ECN broker for best results with any forex robot. Forex Earth Robot only requires you to download and set it up in 5 minutes using the easy to follow instruction manual and it will then do all the trading for you – a complete set and forget trading solution. It is suitable for beginner traders and requires no previous trading experience.
Forex Earth Robot Trading Strategy
Forex Earth Robot trades on 2 major currency pairs – EURUSD and GPUSD. These pairs give favourable low spreads and fast execution due to their high liquidity. One of the key features of the Forex Earth Robot claimed by the developers is that it uses a good risk to reward ratio meaning that it aims to achieve winning trades that are greater than the losing trades. This would be advantageous as forex robots that have a poor risk to reward ratio can see profits wiped out in just a few losing trades whereas a good risk to reward ratio means that a few losing trades can be recovered from quickly. It also means that a forex robot does not need a very high win rate to still be in profit overall and therefore could be considered a stable automated trading solution. In saying that, the Earth Forex Robot does have a high win rate (around 70-80%) with low to medium drawdowns (around 15-20%). However, looking at current MyFxBook statistics the losing trade average is greater than the winning trade average so in fact the risk to reward ratio is not as good as claimed. It does include an advanced money management system that can be fully customised although you can use the default settings and just adjust the lots to suite your required level of risk.
Forex Earth Robot Back Testing
There are no back testing results published by the developer on the Forex Earth Robot website but they are not really required as we have the verified MyFxBook accounts to analyse the robots current performance.
Forex Earth Robot Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Earth Robot Summary
There is some decent earnings potential with this forex robot and it is relatively inexpensive. I would have liked to have seen some real account results published rather than demo accounts although there may not be much of a difference in performance as it is not really a spread dependant forex robot and trades major currency pairs (low spreads, fast execution). The drawdowns are acceptable and the profits stable and consistent. The risk to reward ratio could be adjusted slightly to ensure that winning trades are greater than the losing trades. Perhaps a few optimizations would find even better settings than the defaults provided by the developer. It comes with a 30 day money back guarantee, lifetime support and free updates. It has been updated a few times so the developers are always looking to improve things. Visit the Forex Earth Robot to find out more and to download your copy.