In this post I will be reviewing the Fx Voodoo forex robot. Fx Voodoo is a fully automated forex trading system developed to run on the free to download MetaTrader 4 trading platform. Apparently, according to the developer this forex robot is the brain child of someone who believes in Voodoo culture, hence the name. Of course, we can take this with a pinch of salt but should also respect others beliefs.
As with all fully automated forex trading systems, you can take 5 minutes to setup Fx Voodoo on your trading terminal by following the easy to understand instructions included. Thus, this makes it suitable for beginner forex traders.
Fx Voodoo Trading Strategy
The Fx Voodoo forex robot is NFA compliant and can be fully customised for those who like to experiment with EA settings and perhaps even run your own optimizations on any currency pair or time frame.
In saying that, it is also ready to use “as is” straight out of the box with the default Fx Voodoo settings already provided for you from the developer. There is an option to hedge should your broker allow you to but if not that is no problem as you can set hedging to false at the click of a button.
Fx Voodoo runs 24 hours day and can be traded on any currency pair although the developer recommends it to be used on the EURUSD 1 minute time frame. The EURUSD can give low spreads and plenty of liquidity for fast execution at the best possible prices. This can help save on trading costs in the long term. I would always prefer to use an ECN forex broker for the best possible trading conditions.
Fx Voodoo Back Testing
The developer has shared a collection of back tests for the Fx Voodoo robot. These results have been done on every tick although modelling quality on 1 minute time frame maxes out at 25% if not using real tick data. I would therefore not consider these that accurate as I would want to see 99% modelling quality tick data back tests with real variable spreads.
Fx Voodoo Live Results
Fx Voodoo Summary
Overall, the Fx Voodoo robot is ab automated trading solution that is reasonably priced and comes with full support, free updates, instructions and a money back guarantee. Furthermore, the strategy tester expert among us may be very interested in running a few optimizations of their own using tick data and Birts TDS. This will allow you to test other currency pairs and time frames. Don’t worry if that is not for you, as I said earlier, Fx Voodoo is ready to use straight out of the box should you wish.