In this post I will be reviewing the Worthy FX TRADER automated forex trading system developed to run in the MetaTrader 4 trading platform (MT4). MetaTrader 4 is one of the most popular and widely used forex trading platforms provided by some of the best forex brokers worldwide. MT4 is free to download and you can get started with a demo account to test your manual forex trading skills and also to run forex robots before going live. Worthy FX TRADER is a forex robot which means that it will place and manage trades for you.
Worthy FX TRADER Trading Strategy
According to the Worthy FX TRADER developer, Worthy FX TRADER can be used on any time frame although it is primarily developed for the longet term time frames such as the 1 hour charts and above. I find that these time frames tend to have less noise and allows me to spot a possible trend so as not to get caught up in a ranging market, unless of course I am using a range based forex trading strategy.
Worthy FX TRADER places a stop loss and take profit for you and according to the developer can be run on any currency pair. I prefer to trade major currency pairs such as the EURUSD and GBPUSD simply because I find that they have some of the most liquidity and thus it can help me to lower trading costs, saving money on spreads and commissions whilst having less slippage. I would ideally use an ECN forex broker with any forex robot or manual forex trading system.
Worthy FX TRADER Back Testing
There is a back test shared on the Worthy FX TRADER official website although it has not been conducted with real spreads, real slippage, real commissions and real tick data. Back tests for most accurate results should be done using Birts Tick Data Suite (Birts TDS). The back test shared is also on the EURGBP which suggests this is another currency pair by the Worthy FX TRADER developer.
Worthy FX TRADER Live Results
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Worthy FX TRADER 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.