In this post I will be reviewing the August Forex Golem Forex 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.
August Forex Golem Trading Strategy
Quite a unique feature of the August Forex Golem Forex Robot is that it optimises itself in real time. The trades are based on signals derived from a variation of complex indicators coded into this forex robot which can analyse the dynamic ever changing market conditions and make decisions based on the current market behaviour.
What is very interesting is that the parameters used for these indicators are not fixed – they are actually adjusted in real time dependant on the price data returned from current market movement to get entry/exit prices. This is something I have not seen incorporated in a forex robot before and ensures that August Forex Golem is a very intelligent and constantly updated automated traded solution.
August Forex Golem Back Testing
There are no back tests published on the website. 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.
August Forex Golem Live Results
August Forex Golem Summary
Overall, this forex robot can analyse currency pairs and place trades for you but it does have some limitations. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support and a money back guarantee. 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.