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 makes it 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. 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.
RayBOT will automatically update from the server ensuring that it is up to date. There is no grid or martingale money management systems. 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.
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. It is not possible to know if the developer also included commissions, swaps, variable spreads and slippage in these tests.
RayBOT Expert Advisor Live Results
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RayBOT Expert Advisor Summary
Overall, I would personally avoid using this particular forex robot. I find that it is too risky for my personal taste. I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee.