In this post I will be reviewing the Price Action Robot. This is a fully automated forex trading system that runs in the popular MetaTrader 4 (MT4) platform which is free to download. It can place and manage trades on behalf of the user. In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Price Action Robot Trading Strategy
The Price Action Robot trading strategy incorporates price action in finding entry and exit points in the market. This ensures that it can react to the current market conditions rather than relying solely on lagging indicators that give delayed entries and false signals.
The coding logic is based around sophisticated neural programming algorithms which allow it to interpret and analyse the past and current price action data in real time to accurately predict future market movements. This is known as NAMA or Neural Adaptive Market Analysis. NAMA can learn the markets thus adapting to different market situations
It can trade multiple currencies whilst there is a built in volume tracker which finds trading opportunities depending on the market volume. It also has built in money management features which can be customised.
Price Action Robot Back Testing
There are no back testing results from the MetaTrader 4 strategy tester on the Price Action Robot. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Price Action Robot Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Price Action Robot Summary
Overall, the Price Action Robot has a variety of innovative features included and is not dependent on specific market conditions thus making it flexible to use any time and on any currency pair. The Price Action Robot is one of the only forex robots I have come across that uses a Neural Adaptive Market Analysis and Volume Tracking. This combined with price action and an adaptive money management system makes it unique. It is very easy to install and you can be setup in around 5 minutes with the Price Action Forex Robot running on your MetaTrader 4 account. It comes with an easy to follow instruction manual, full support and a 60 day money back guarantee. There are a few different pricing packages to choose from, including EURUSD only or all pairs. There is also a choice of licenses depending on how many you require.
I would say that the EURUSD pair is one of my favourite to trade in terms of trading costs due to the low spreads and plenty of liquidity. I would use a true ECN broker for the best spreads and trade execution speeds.
Make sure that you head on over to the official Price Action Robot website for more information.