In this post I will review the Yeti Forex Robot. This is a fully automated forex trading system that has been developed for the MetaTrader 4 platform. MT4 is available for free from most online forex brokers. With so many forex brokers to choose from, I have compiled a list of my personal best forex brokers for inspiration.
The developer states that the Yeti Forex Robot can be used on any broker although I would always look for the broker with the lowest spreads and commissions as this can help to save on trading costs in the long term. Furthermore, ECN brokers can have quick trade execution speeds which could help to minimise slippage and get trades executed at the best available prices with minimal delay.
Yeti Forex Robot Trading Strategy
The Yeti Forex Robot has an advanced money management system built in where you can control the lot size you wish to use. Make sure you have a clear understanding of the significant risks involved with trading online and perhaps consider only starting on a demo account to test the robot first. The robot also has an advanced time management system. It will scan the markets looking for trading setups based on the built-in algorithm. The Yeti Forex Robot looks for short and medium-term trends to follow. It targets around 10 pips on average and there is also a maximum spread filter to try and avoid trading when the brokers spreads are too high. It seems like the robot does not trade that frequently and has been designed for popular currency pairs such as the EURUSD and GBPUSD.
Yeti Forex Robot Back Testing
Unfortunately, there are no back tests on the Yeti Forex Robot website which could have given us some idea of historical performance.
Yeti Forex Robot Live Results
Overall, there is not much information on this particular forex robot although it does seem to have a decent risk to reward ratio, it does not trade that frequently and the provided myfxbook account has not been running for a sustained period of time and is a demo account.
The Yeti Forex Robot includes instructions, support, updates and a money back guarantee. I have conducted many forex robot reviews and there are alternative options you may wish to look at instead of this expert advisor (EA).