The forex software and service industry has literally exploded in the last few months and there is a lot of junk being thrown out at consumers to see who falls for it. Therefore, the task of assessing which forex software works best can be a daunting one.
The problem with most forex software, particularly those within the "expert advisor" category, is that they simply do not adapt to market conditions well enough to handle sudden and unpredictable movements caused by external factors.
It is a fact that the markets, whether stock or forex, have to say according to certain patterns that tend to repeat themselves over time so making it possible to sometime predict what is going to happen next, being this the science -if you will- behind the numerous forex software available.
However, these patterns are not constant, they evolve, and these demands that traders do the same or at least use a strategy suitable for any market condition. Most forex software does not have the ability to evolve, nor they have a trading strategy capable of facing an ever changing market.
This is why you often see great results in back tests, but when you go ahead and download and use many forex software -each one claiming to be the best- you find yourself wiping out your equity in a matter of days, because the fact of the matter is that what worked in the past will not need work today or tomorrow.
Therefore, in order to make sure you are getting the best forex software based on performance, you must look for alternatives that have been proven to work not only in the past, but in the present time. This will tell you that they are adaptable enough to make them profitable today and tomorrow.
Very few forex software and services have dared to take the step of showing how they work in live trading accounts that show the performance of the software on a daily basis, because doing this obviously poses a great risk for the developers, who would have the obligation of their product openly exposed in case that the results are not what people expect.
Therefore, the best forex software definitely have to be the ones capable of showing real live results and not only back tests, because the quality of these products can only be measured by their performance.
Source by Alex Cadens