In this post I will be reviewing the RayBOT Expert Advisor. This is a forex robot for the MetaTrader 4 trading platform that trades 100% fully automated. You simply download the software and follow the easy to understand installation guide for a fast 5 minute setup. You then leave the software to run fully automated for you and it will place and manage trades according to its market analysis. This is suitable for beginner, intermediate and advanced forex traders.
RayBOT Expert Advisor Trading Strategy
The RayBOT developers have spent many years researching, developing and testing this automated trading system and state that they have a final product that is safe, consistent and most importantly – profitable. The trading system RayBOT implements is to trade between levels of support and resistance with an average of 5-10 trades per week on each currency pair that it trades on. Trading multiple currencies creates diversity and the developers expect around a 10% gain per month which is evident so far in the live real account tests verified by MyFxBook – 30%+ profit in just a few months with only 11% draw down. However, there are some ugly looking dips during this time but then perhaps that makes it more realistic than “no loss – millionaire overnight” style robots. RayBOT will automatically update from the server ensuring that it is up to date and performing well in the current forex market conditions. There is no grid or martingale money management system and it actually uses good money management where it will close the losing trades early and allow the profitable trades to run – this gives it an edge in terms of risk to reward ratio. RayBOT uses dynamic trade management which will calculate the stop loss and take profit prices in real time and keep them hidden from the broker. Not that I believe you need to hide these levels if you are using a regulated ECN broker but the fact they are dynamic and not fixed ensures that they are relative to the current market conditions. It will also use a trailing stop during periods of high volatility and will close trades if there are signs of an imminent reversal.
RayBOT Expert Advisor Back Testing
RayBOT was also back tested from 2007 using the best possible test conditions including 99% modelling quality achieved through using Dukascopy tick data – this gives accurate back testing results which have so far been confirmed by the live tests.
RayBOT Expert Advisor Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
RayBOT Expert Advisor Summary
Overall this is a stable (sort-of!) and profitable (with ups and downs mind you) forex robot with relatively low risk. It is not perfect by a long shot but it is profitable and doesn’t look like it can blow your account. It comes with dedicated support, free server side updates, instruction manual and a money back guarantee. Visit the RayBOT website for the latest results and for more information.