In this post I will be reviewing the Fx Mower 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.
Fx Mower Forex Robot Trading Strategy
The Fx Mower Forex Robot trades the EURUSD currency pair which is considered a “major currency pair” in forex and thus usually has plenty of liquidity for low spreads and reliable execution speeds. I would use a true ECN forex broker for the best possible trading conditions as with any manual or automated forex trading system. There is an aspect of martingale money management used so please ensure you are aware of that and control the lot accordingly. I find that too dangerous for my trading style.
Fx Mower Forex Robot Back Testing
The Fx Mower Forex Robot official website has over 5 years’ worth of back tests. It is worth noting that the back test is maxed out at 90% modelling quality rather than 99% modelling quality with tick data using Birts Tick Data Suite, thus the results I do not consider accurate as they can be. The more advanced forex traders out there may also want to optimize the Fx Mower Forex Robot on other currency pairs and time frames to generate their own customized settings.
Fx Mower Forex Robot Live Results
Fx Mower Forex Robot 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.