Free forex robot is indeed an option for many beginner traders. Because besides being free, this EA is also easy to find on various platforms on the internet. However, as a beginner, you have to be careful in choosing it so that you are not deceived or suffer a lot of losses.

Using a robot does not mean you are free from risk. Forex is still high risk and high-return investment, so you can't expect a robot to be able to eliminate the potential losses that you can experience from doing Forex business.

Even though it was popular in 2007, it turns out that Forex robots are now starting to be promoted again, even targeting ordinary people who do not understand how the Forex business works. This of course can cause misunderstanding in the eyes of the public who think playing forex using EA will always be profitable.

In fact, even though you use free forex robot, you still have to understand the right strategy and have up-to-date market knowledge. The robot will only execute commands according to the commands you entered.

Even so, robots can help you to trade because it won’t be affected by emotions like traders. Transactions carried out can also be more scalable, so many traders use them to trade without having to monitor 24/7.

Beginners' Mistakes when Choosing Free Forex Robot

Many novice traders rush to use robots when trading without knowing what is important for them to do before using them. Please note that a robot is just a tool, you are still the brain that understands trading strategies.

Therefore, as a trader, you must understand and master the most appropriate strategies to do so that the robot can execute orders according to your wishes. Robots are only tools to make it easier for you to oversee the course of trading, and prevent you from overtrading because robots are not impulsive and are not affected by emotions.

This robot is an added value for those of you who don't have much time or are less painstaking in managing trades manually. So you need to note that if you are not good at trading itself, then robot and best forex broker cannot help you much to make a profit.

Before you decide to use one of the free robots, try to do a test. Testing is very necessary especially if you want a free robot. Using a free robot without any testing is tantamount to committing suicide. Testing can also prevent you from fatal errors that can result in huge losses for you.

A Good Free Robot Has Proven Its Performance on Real Accounts

The drawdown or reduction in the capital is one of the things you need to pay attention to from free robots. To make sure that the robot you choose has been tested, you need to know that the robot has a real history of its performance.

Pay attention to the drawdown displayed by the free forex robot. A high drawdown could mean that the robot is able to generate higher profits. However, if it is too high, it also has the possibility of causing the capital in your account to run out easily.

Even though there are many free robots that display their performance on platforms like MyFXBook, many robots are only operated on demo accounts, so their performance on real accounts has not been proven. It is important for you to know that the robot of your choice has been operated on a real account and not a demo account.

However, before starting to use the robot on your real account, please do use a demo account to test it. You can try a demo account offered by Didimax forex broker, because a regulated forex broker can guarantee you trading safely.

As a beginner, don't be easily tempted by unrealistic offers, such as multiple profits or risk-free trading. Learn a good forex strategy so you can minimize losses when trading using a free forex robot.