Why You Need to Think Twice Before Going for this Robot
Have you just stepped into the field of trading, and eager to make it big in the trading world? Well, in that case, you have to ensure that you do not make any compromises when it comes to selecting a trading system.
Recently, we got to know about Top Algo Trade, and somehow we did not get convinced regarding the efficiency of this trading system. We will just discuss the reasons here.
Top Algo Trade is an auto trading robot. It can generate the trading signals and execute the trades automatically
Promises an exaggerated profit
Now, you cannot claim the fact that an auto trading system can generate a huge amount of profit till you have verifiable proof. Well, Top Algo Trade claims that you can generate a profit of about 89.7% using this trading system.
You cannot just go with the word of the platform because they have not been able to provide reliable proof so that such figures can be misleading for the traders.
Hampers the learning curve
An auto trading system can ruin the trading career of a novice trader. The reason is that it executes the trades based on its signals. When a trader tries his trading strategies, then he learns through experience and mistakes. Top Algo Trade deprives the trader of the opportunity to test his skills.
Even if a trader wants to try out an auto trading robot he should go for the one that offers the manual trading option as well so that the trader can switch to the manual mode when he feels comfortable.
You do not need to a manual analysis with Top Algo Trade, and this is why as a trader you will never get a clear idea about what is happening in the market.
What the trader needs to keep in mind is that it is impossible for an auto trading system to win all the time, and this is one more reason why a trader should not invest his trust in Top Algo Trade.
Limited features available with the demo account
Now, you do get access to a free demo account with Top Algo Trade, but you should not have a lot of hopes pinned to the demo. The reason is that in most cases limited features are available with the demo account.
If you are just starting with your trading career, then avoid Top Algo Trade by all means.