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Forex Range Trader Review
Forex Range Trader ratings: 
(2 votes, average: 4.00 out of 5, rated)
Write your own review of Forex Range Trader software
Welcome to Forex Range Trader Review page!
Forex Range trader was created by Peter Parsons and is useful for trading EUR/USD in smaller lots, with a high percentage of winning trades. There have been sporadic comments in forex forums that Range Trader is sort of incomplete because of its inconsistency. Range Trader is an Expert Advisor (EA) script for Meta Trader with documentation. But several traders feel that the results of using the software are scattered.
A subsequent version of the product was released called Range Trader -Phase Two. You could use this system if you don’t wish to take too many risks. Range Trader-Phase Two gives you low profits coupled with low risks. Range Trader Phase II in a Black Box expert advisor script for (EA) for Meta Trader 4. The software automates an average of 24 traders per day.
A newer version of Range Trader called the Roboteer Expert Advisor for MT4 platform is under beta testing. This software supposedly uses a trading array where multiple systems are joined so that they trade concurrently.
Features
With Range Trader -Phase Two you could profit from the forex market just by complying with the following steps:
- Turn on your computer
- Open up Range Trader and Meta Trader4
- Then just allow the software to set up appropriate stop-less protection and make the winning trades.
Here are some of the features of Range Trader -Phase Two:
- According to you trading balance the software will automatically calculate the trade size.
- As your account balance grows, it will compound the trade size accordingly
- Pending trade grids will be placed automatically.
- Stop loss will be attached appropriately.
- The software will calculate each desi range and then transitions the trade accordingly
- When a trade in exited it automatically replaces it with another trade.
- The software will calculate each day’s trading range and then transitions the trade accordingly.
- When a trade is exited it automatically replaces it with another trade.
- The software uses a series of trade grids spread over a daily trading range
- This helps the software to capture both trading and re-tracement trades
- As a client you don’t have to do any processing to calculate each day’s trading range.
Here are some of the main features of the Roboteer system under beta testing:
- It places up to three trades for each of the three inbuilt systems
- It uses various trailing stops once the trade is open
- It manages money separately for each of the three systems inbuilt into the Roboteer
- It calculates trade size based on your choice of fixed ratio or fixed fractional ratio.
- It can work with an account balance of even just $250
- Optimization keeps the Roboteer in alignment with each currency’s price variations.
Because of its simple design and set up, Range Trader is suitable for traders with zero trading experience and also for the experienced trader. The best thing that really stands out with this software is its ease of use. All you need to do is connect it to your forex account and the software will handle the rest of the work for you.
This software comes with a manual that will help you set it up and running in no time. It costs just $97 and comes along with a risk-free return policy. On the whole, this is an interesting piece of software for the novice and expert trader alike.
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Only good things about this software.You dont have to get worried about getting up in the middle of the night and checking up on margin calls, and you dont have to have great trading experience for using it. Its fully automated, averages more than four trades a day of which more than 90% are winners.I wouldnt want anything more than that.
I am looking to check out on this.ok the pdf file with the software is clear enough, but free software updates for life? I guess its impractical, but who knows? Its too good to be true
Free updates for life are offered by many, but if you tell me how many trades they get right per day I guess I could tell you if they would be around for a while.
Rodney,
Yeah, these free updates are standard stuff—only you dont know if they are going to be around for long.I guess he got the algorithm right, but then you never know in a trending market!
What this meta trader mean? Any idea? I am having lots a trouble figuring this out.
Meta trader is meant for the pro. Google it and sure you will get more on that.
Range trader, what it does actually is make small trades and make a small profit outa each trade every time. So guess its ok for day trading!
Range Trader works only with Meta Trader. Ok? But it does more than 15 trades a day for me. Of course profits are low and so is the risk. I am of course talking of Range Trader 2. Now let’s get on to the interesting part. How do you work with Range Trader? Just download the software, install it in your computer, and simply allow it to work in tandem with your trading platform. Range Trader will set the stop loss etc and you will automatically hitch on to winning trades. Automation, that’s the best part!
Now here are some features of Range Trader I find very useful. Firstly, it sets accurate stop losses and that takes a load off me in the sense I don’t get too anxious of my trades at any point in time. Secondly when one trade gets over, the software hitches on to another trade almost automatically, but always reckoning with the size of your account balance. Thirdly, each and every trade size is matched to the amount of balance in your account. It never overplays nor does it underplay. Fourthly, it works just as well if your account balance is very low, say even if it is $250 or so.
With other systems I have used before, I have often had to calculate the days’ trading range and then do some other things manually. But not when I am using Range Trader. It’s even done some on the rebound re-tracement trades for me, all automatically. I guess you could use this software even if you didn’t know anything about forex trading. The installation manual will walk you very nicely through the entire process.
The new Roboteer range trader is excellent