Have you ever gone inside of an art museum with a friend and looked at all of the same artwork only to discover that you and your friend just saw completely different things?

Yes, your eyes and your friend’s eyes might have seen the same pictures, but there is a whole subjective thing that is very important and it is not surprising that the same picture could elicit different responses from both your different viewpoints. But should the same thing happen when you run the same forex robot on two brokerage accounts? Most forex traders probably usually expect the answer to be a big fat “no,” but surprisingly enough, running the same forex robot on two different brokerage accounts is likely to do quite the opposite and deliver divergent results.

Yes, you are able to run your forex robot on an FXCM account and you are able to run it on your GFT account as well and chances are you will see very different results. This scenario is possible even if you have done everything that you thought possible that you needed to do, like adjusting the forex robot’s settings. One reason for this is because there is just no continuity between the bid/ask spreads offered by different forex brokers. Have a look for yourself and you will only discover that you are able to look at the same forex currency pair as it trades with 10 different forex brokers and it is doubtful you will ever see the same bid/ask spread twice. This is just one example, but it is a good reason as to why the same forex robot does not generate the same results on two different forex accounts.

Settings And Computer Speed: Find The Right Mix

One way to put your two forex accounts more on par with each other is to make sure your trading computers share the same connection speed. If one of your computers is faster or slower than the other, it is realistic to assume that your forex robot will turn up different results in your two accounts. This may just seem to you like a minor detail, but if your forex robot is doing well in one forex account and lagging in the other, the issue may lie with your technology choice. Fortunately, this issue is very easy to rectify.

Another issue that may lead you to divergent forex robot results across multiple accounts is the settings that you are using for your forex robot. You may have to choose to use one set of settings in one account and make adjustments to your forex robot to attain similar results in the other forex account. And do not rely on your forex robot’s default settings. The default settings usually have a finite lifespan, meaning that they are only useful for so long. You have to regularly update the settings for most forex robots and trading with the forex robot in multiple accounts makes updating your settings all the more important and necessary.

Author Bio: Retired Canadian Economist. My main activity since Winter 2006 is trading Forex. I’ve been trading currencies online with the help of EA’s (BTW, the best source for EAs is Forex Robots) and I currently manage trading accounts at two Forex brokers in the US and in UK respectively

Category: Finances
Keywords: Forex Robots, Day Trading, Forex, Forex Brokers, Finacial Advisors, Expert Advisors