In this post I will be reviewing the Forex Transformer automated forex trading system. This is a forex robot for the MetaTrader 4 trading platform that trades for you completely automated. You just simply set it up in 5 minutes and let it do the work then check back to see how it is performing. Forex Transformer was created by two developers; they give it the nickname EMMA which means Expert Money Management Analyzer. They state that it can work on all currency pairs but works best on the EURUSD 15 minute time frame. Therefore I would be sticking to this currency pair, especially considering that it has some of the lowest spreads and plenty of liquidity.
Forex Transformer Trading Strategy
Forex Transformer is ready to use right away with the default settings. You just need to adjust the lots/risk to a suitable level for your requirements. You then load it onto the EURUSD m15 charts and it begins looking for and managing trades with the built in money management system.
It is able to adapt to both ranging and trending markets over a variety of different market conditions. I would certainly be using an ECN forex broker for the best possible execution and spreads.
Forex Transformer Back Testing
There are back tests provided on the Forex Transformer website. The modelling quality is 90% so I would prefer to have seen 99% modelling quality using tick data, real spreads and commission as this can have an adverse effect on some forex robots.
Forex Transformer Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Transformer Summary
I honestly feel we would need more details before coming to an accurate conclusion on Forex Transformer. It does however come with a no questions asked 60 day money back guarantee so you could try it on demo and see how it performs for you. It does come with full support, lifetime updates and detailed instructions for a quick and easy setup.