Forex Star Bot is another new Forex robot by Anna Monti. This developer is new to the market and the last couple months has really started to reviews quite a few automated trading system. The feedback on the system so far has been in the middle-of-the-road.
Today I’ll be providing a full review and letting the Forex robot nation community get a good understanding of what Anna and her new system has to offer.
Forex Star Bot Review
The Forex Star bot is a 100% automated trading system that works on the EUR USD pair and the GBP USD pair. The software uses a trailing stoploss and works on the H1 timeframe. This robot determines the best entry points using horizontal lines and level trading which and a believes allows for less risk when entering the market. This software uses a shorter stoploss because of this fact and uses trend filters to help manage the trades. The software uses the stochastic oscillator and relative strength index.
The Forex Star bot with default settings over a short period of time has earned over 1000 pips in under hundred trades according to the results being provided by Anna. These results however look like a back test so I’m really not sure we can trust these as an indication of any long-term success. The system also uses hedging which means you will not be able to use the software with an American broker because this is not NFA compliant. Hedging is opening a buy and sell position at the same time with the same lot volume in order to reduce the amount of loss you would incur if something unexpected happened.
Today I will not be giving the Forex Star bot my recommendation. I think Anna should be focusing on putting together less Forex robots and working on the ones she has already released. The only way to truly put out a functional automated system is if you stay on top of it, strategize and make sure that it is in line with market conditions moving forward. If you something you would like to contribute to this review please let me know your opinions and if you ever need any help in Forex go to the contact page and send me an email.