Forex Minute Trader is an auto optimizing scalping robot that can trade multiple pairs that are EURUSD, GBPUSD, EURJPY, USDJPY and USDCHF. Forex Minute Trader uses a FIFO complaint and non hedging strategy. The developers of this scalping robot have exhuastively tested their robot on live accounts with multiple brokers. They have also posted the live trading results on the third party site MyFXBook that you can view in detail. According to the developer his scalping robot is making around $10K for him on average per month. Following is a screenshot of a demo account posted on the MyFXBook:
As you can see from the above screenshot the drawdown is quite low and is only 4.66%. 4.66% drawdown is very good. Average monthly gain is 16.63% which is also not bad. Forex Minute Trader uses a trailing stop loss to lock in the profits once it finds a good opportunity. A trade can last upto 60 minutes. This robot does not use martingale in it’s strategy or a grid in it’s strategy. Following is the screenshot of the live account performance posted by the developers on MyFXBook:
As you can see from the screenshot, now the drawdown is much higher. It is 12.05%. However, the monthly gain is also much higher. It is 44.74% on average. Higher the risk, higher the reward. You should take a detailed look at both the live as well as the demo account and make your own judgement about the performance of this scalping robot.
Most robots fail in the long term. Why? The main reason for the failure of the robots is that the market conditions keep on changing. So the robot might work for 3-6 months and then all of a sudden you might find it making one bad trade after another. Now this doesn’t mean that the robot has stopped working. It only means that it has to be optimized once again with the present market conditions.
One of the most important thing that the developers have done is to keep it auto optimized. What this means is that this robot is always connected to a server set by the developers that keeps on sending it the most latest settings so that it is always optimized with the present market conditions. Now there is a money back guarantee. You can test this robot first on a demo account. If the performance is good, you can open a live account with a small deposit of $200 and further test this robot on that live account. Just make sure that the spreads are not wide and the execution is fast. The performance of a robot is highly dependent on the broker.