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In this post I will review the Falcor Forex Robot that is yet another fully automated forex robot that has been developed by the Forex Robot Trader team and is to be used in the MetaTrader 4 (MT4) trading platform.
MT4 is free to download from most forex brokers across the world and you can begin by running the Falcor Forex Robot on a demo account until you are familiar with how it trades at which point you may wish to trade with it on a real live account.
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The Falcor Forex Robot is suitable for beginner and advanced forex traders due to its fully automated nature and can be setup in minutes using the provided step by step instructions. You just need to set a suitable lot size depending on your account balance, leverage and risk preference whilst checking back regularly for the latest Falcor Forex Robot performance.
Falcor Forex Robot Trading Strategy
The Falcor Forex Robot looks to find weak areas of support and resistance which it combines with price action candlestick analysis to take advantage of and try to catch market moves.
Price action analysis is beneficial tends to be up to date with the current market conditions rather than relying on lagging technical indicator analysis. This makes sure the Falcor Forex Robot is adjusting to each differentiating market conditions.
Falcor Forex Robot can trade anytime the forex market is open, 5 days a week, 24 hours a day. It is fully automated and can run on multiple currency pairs. I prefer to use major currency pairs such as the EURUSD & GBPUSD as I find that they usually have the most liquidity and can catch some mid-long term moves.
Falcor Forex Robot Back Testing
There are no back tests shared by the Forex Robot Traders team on the official Falcor Forex Robot website. I would use Bits Tick Data Suite (Birts TDS) to back test Falcor Forex Robot with 99% modelling quality using real tick data, real spreads, real commissions and real slippage. This would help decide the best currency pairs and time frames to run it on and also to get a rough idea of its historical performance.
Falcor Forex Robot Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Falcor Forex Robot Summary
The Falcor Forex Robot will try to adapt to existing market conditions using price action analysis along with support and resistance. I would start on an MT4 demo account to begin with until I became familiar with the EA although keep in mind that demo account conditions can vary greatly from live account conditions due to the different price feeds and liquidity.
The Forex Robot Trader team does share updated results although I would like to see these results verified by myfxbook or FX Blue. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.
The Falcor Forex Robot comes with full support, detailed instructions, free updates and a money back guarantee.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.