For those of you who are probably just as ignorant as I was a couple of weeks ago, here’s a brief summary about Forex robots (or bots, for short) & Expert Advisors (EA):

• A Forex Bot or Expert Advisor is a software or script that has been designed primarily for the purpose of analysing the forex market in order to automatically place trades which it projects to be profitable according to the trends calculated by the underlying algorithm.
• Most Bots/EAs are based on algorithms that have been curve-fitted to prior Forex market readings, which is why most of them will perform extremely well when back-tested… but the true test for a bot is when it can predict and handle sudden swings or extremely short-term trends.
• The best Bots/EAs work on the MetaTrader platform (currently MT4), so if you’re gonna purchase any of these EAs, make sure your online Forex broker uses MetaTrader (what an awesome piece of software.. God bless the developers of MT!!!). Take a look below:
  

  MetaTrader 4

  The best online forex website I can recommend is  IBFX: http://www.ibfx.com

Here’s a list of Forex Bots/EAs I plan to review:

1. Forex Auto Pilot
2. Forex Killer
3. Forex Funnel
4. Forex Tracer

Stay tuned… I’m gonna post my first review shortly…