This article is intended to beginner, but it could also helpful for everyone.
Here is the most important factor to choose a forex robot if it has live trading results (Real or Demo).
Most important criteria: Risk to Reward ratio
From MQL5 signal check “Relative drawdown by Equity %” and “Monthly Growth %”
You can also find these statistics from Fxblue and MyFXBook
If Risk : Reward = 1:1 or 1:2 or similar then at first glance the robot will be considered as acceptable.
But most of the forex robot has something different statistics, such as
Risk : Reward = 30:10 (here, 30% is the max equity drawdown and 10% is the monthly profit/growth)
Risk : Reward = 30,000$ :10,000$ Profit/month
In this scenario the robot will take 30% risk to generate monthly average profit of 10%
So, in this situation user don’t have enough option to increase monthly profit without taking higher risk
Now think, if a forex robot has the following
Risk : Reward = 1:2
Risk : Reward = 100$ : 200$ Profit/month
So, in this scenario most of the beginner forex robot buyer will not be interested to buy this robot by thinking that it just did 200$ profit and they will buy the earlier robot which did profit 10.000$
But the reality is, if the user increase risk for trade similar to the first robot then it will be
Risk : Reward = 1:2
Risk : Reward = 30,000$ :60,000$ Profit/month
