Category — Forex Robots
Forex Demolition forex robot is now live – one of my favorites!
Hi everyone.
I have a news announcement to share with you. One of my long time profitable forex robots (EA) has finally hit the market – ie it’s now available for purchase. The name of this EA is Forex Demolition. I’ve been using this EA for a very long time. A good friend of mine is the main coder behind it so I’ve been lucky enough to be able to test it out on a LIVE account. This is the only EA that I’m using on a real money account for now. It is not a super frequent trader but when it trades it’s very accurate. My live account performance can be accessed here:
http://www.myfxbook.com/statements/76744/statement.html
This is a MB Trading account. I activated the EA on the account right after that big dip in the account balance. Previously I had some other EA that nearly crashed my account so I manually traded my way back up to the initial account opening balance and placed Forex Demolition on it, and have been happy with it ever since.
I should mention that Forex Demolition is a scalper EA so the broker you use and the spread matters A LOT! If you notice that you don’t get many trades or no trades with a particular broker try another. Some brokers increase the spread during the time when this EA trades and since this EA has a spread protection mechanism it will NOT trade. ECN and STP brokers work best. The lower the spread the better.
So in conclusion I think you definitely want to look into getting your own copy as this is the real deal folks – an EA that makes pips not empty promises and lofty claims.
To find out more or to get a copy you can simply visit the Forex Demolition Homepage.
I would also encourage you to share your experience and performance over at my forex nirvana forum. There is a thread dedicated to this EA over here.
Happy trading!
Cheers,
Alan
May 11, 2012 No Comments
Fapturbo 56 – Increased Performance Update!
Hello forex traders!
It has been quite some time since I last blogged about the Fapturbo forex robot, but I guess now is as good a time as any since the fapturbo team have released a new update which they claim will dramatically increase performance. We shall see about that. I must confess that I stopped using fapturbo a while back mainly because with the stock settings it was not profitable. I ran all the scalper pairs and also the long term strategy, but from what I heard on a few forums the stock settings are basically junk so I never got far with my fapturbo test account.
Now that this update 56 is supposed to bring on a huge performance increase I intend to resume testing fapturbo again. The fapturbo team’s sales pitch is that we should expect “a HUGE PERFORMANCE INCREASE in just about every aspect.. our programmers have spent months to finetune those settings and add new algorithms.. so prepare yourself for HUGE gains!” Well now, they are just begging to be put to the test. All I can say is – Game on!
I do have some bad news though. Apparently not everyone will have access _initially_ to the improved fapturbo 56 settings. They want you to become a “premier member” to gain access to these settings. What this means is they want you to sign-up for an account with their recommended broker through their IB link. I guess selling just forex robots is not as lucrative as it once was. Anyways, let me clear it up for you:
FAPTURBO 56 is optimized for their broker called “MyFXChoice”
For now I’m going to stick with a DEMO myfxchoice account and if all goes well I’ll be nice and open a live account through their IB link.
So now it’s time to install it and see how it goes. I’ll make another post with a link to a myfxbook page once I get everything setup. From there on you can monitor my performance via the myfxbook page.
For those of you who have never heard about fapturbo you can find out more on the Fapturbo homepage.
Happy trading everyone!
Alan out.
April 25, 2012 No Comments
Forex Expert Advisors Don’t Make Money and It’s Clear Why
They have never made any money in real time and any system that promotes itself as an Expert Advisor has no verified track record. You get a simulation or have to take the vendors word for the gains made and if you think about it, they wouldn’t be sold so cheaply, if they made the gains they claim or certainly not for a few hundred dollars!
The Claims
Make money while you sleep, play golf or have a beer, all you have to do is pay a couple of hundred dollars and double your money each month with little or no drawdown! Now if you could really buy financial freedom for a few hundred dollars, the whole world would be trading and not working.
The sales copy of sum Expert Advisors is just ridiculous and yet normally sensible people let greed cloud there judgement and the market teaches them some manners with a quick equity wipe out.
You do not make money with no effort and paying the price of a night for a mass produced bit of junk software and thats a fact so forget the quick short cut route and learn forex trading the right way.
If you want to enjoy currency trading success, you can make huge gains in relation to the effort you have to put in ad it won’t surprise you to learn you need some good solid Forex education.
If you want to make money forget the Forex Expert Advisors and do what winning traders do which is to get a decent Forex education learn skills and trade with confidence.
by Sonia Kristina
About the Author:
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf’s, with 50 of pages of essential info on Successful Forex Trading Strategies visit our website at: http://www.learncurrencytradingonline.com
December 30, 2009 No Comments
Forex Robots – the Dream of Big Profits But the Reality is Losses and a Wipeout of Equity
The reason is that the robots claim bit profits but have never made any!
If you see a track record of big gains on a robot look at the small print and you will see that there back tests so the track records are simulated and done in hindsight on paper. Well this is no evidence that the robot will make money for you or any other user. Anyone can make money knowing all the facts and bend the rules to fit past data – but that’s not the real world of forex trading.
In forex trading you have to trade going forward and you don’t know what will happen next – this is the real world of trading and it’s much harder than making up a profit in back testing.
Common sense tells you that if the robots really did make the gains they claim the following would occur:
1. There would be a jobs shortage, as everyone would have a huge income for simply paying $100.00 and be trading.
2. The vendor would be so busy making a fortune he would have no reason to sell his great system or if he did it, would be very expensive at tens or even hundreds of thousands of dollars.
3. Banks, brokerage and hedge funds, would sack there management teams on millions of dollars per annum and have better results for $100 outlay!
Now none of the above has happened and the reason is obvious – Forex robots never produce the gains they claim in fact, the user normally takes an almost instant wipe out.
You can make a lot of money in forex trading – but you have to get the right forex education and understand it’s not easy – that’s why 95% of traders lose their money.
If you want to make money in forex then you can, don’t fall for the fantasy land of forex robots, understand the reality of a good forex education and the discipline to apply what you have learned, is the key to currency trading success.
by Sonia Kristina
About the Author:
FREE!ESSENTIAL FOREX TRADING PDF’s!
For 2 essential free trading Pdf’s and more essential FREE Currency Trading Education and an exclusive RISK FREE Currency trading Course visit our website.
December 30, 2009 No Comments
Forex Riches Using Forex Robots?
Forex software was originally designed to assist professionals at banks and other financial institutions in making profitable trades.
The First Forex Robots were designed to analyze the markets and produce signals that the professional trader could use to determine if a trade should be made.
In recent years there have been a large number of Forex Robots that have been created for the individual trader. They only need a computer and a connection to the Internet to begin trading for you.
A good Forex Robot will definitely help you trade profitably, but don’t ever let anybody tell you that you’ll get rich in a few short years when trading with automated software.
When you do implement the strategies of a Forex robot, you need to remember that you will incur short term losses from time to time; it’s the nature of the Forex Market whether you’re trading manually or automatically.
The truth is, if you are trading with a Forex Robot that has been rigorously tested and proved itself in live trading, you will see some short term losses, but you can be pretty sure of profitable gains in the long run.
Remember that all Forex Robots are not created equal. Do your research before you invest your hard earned money into an automated system.
When you begin your search for the most effective Forex Robot, make sure you find out how rigorously it has been backtested and more importantly find out how well it has been proven to do in live trading.
A Forex Robot worth its salt should be producing anywhere from 85 to 100 % wins on a consistant basis.
by Eric Jacobson
About the Author:
Eric Jacobson lives and works in the foothills of the beautiful Ozark
Mountains. He has been involved in some aspect of Internet marketing
since 1999, and has been involved in trading the Forex Market for the past
3 years. He is always looking for affordable and profitable software and programs
he tell his readers about.
Forex trading isn’t just for the “Big Boys” any longer. See how a
“smart” Forex Robot can quickly put you in profit.
http://www.squidoo.com/Automatic-Forex-Investing
December 30, 2009 No Comments
Do Forex Robots Work?
For people that don’t know or understand what forex robots are, they are an automated charting platform that buys and sells in the forex market. This is done based off a parameters that developers set up in the memory of the robot.
For example, many traders have their own personal favorite trading system. It could be based on indicators, price action, or some other trading method.
Obviously, in normal circumstances, traders would have to stay alert and follow the market on their computer or trading platform to see if the certain trading conditions matched the parameters set by their trading system.
These forex robots are automated. Your computer does everything for you, like you were doing everything yourself. With one exception, the robots know when it is a good time to buy and sell a trade. This is done by on parameters that were predetermined by the person who developed the robots.
If you’re used to traditional trading methods, it may seem strange to allow a computer to do all the work. But using automated systems has allowed many traders to do the trading they need to succeed while still spending time with their friends and families.
People really never think of a trading forex as profession that takes up a lot of time, they are totally wrong. This is a 24 hour a day job, this can take up a lot of your time. With these robots, you have more freedom and that is what real traders wish they had.
With the same system, you have essentially outsourced all the screen time to an exact duplicate trader, and, since these automated trading systems are essentially trading in the same manner.
The majority of the forex robots being sold can be used on a basic metatrader chart. Don’t worry its free. There are a ton of brokers on which you can get a demo of the software.
Once you have a forex robot uploaded to your Metatrader chars, all you have to do is turn it on, and it will start analyzing the markets and make trades for you, whenever the parameters are ready.
With so many different forex robots available in the marketplace, it can be hard to chose the right one. Some have shown great success in short term and long term trades, and then there are some that don’t have very good trade records.
by Jim Yeoman
About the Author:
December 30, 2009 No Comments
Forex Expert Advisors – 4 Simple Tips for Finding the Best
Let’s start with the most obvious question to ask of any Forex Expert Advisor.
1. Is the Track Record Real or a Back Test Simulation?
Most Forex Expert Advisors have never made any money and rely on back tested, simulations on paper and of course this is easy! Others present what they claim are real track records but these track records are not independently verified, so discount them.
Only go with a real track record and it must be an independent audit. If you do this check first, you will have already discounted of over 90% of the systems sold online.
2. What is the Background of the Programmer?
This is always a good clue to how the system will perform.
Beware most Forex robots are actually NOT designed by traders! Someone did a test on the net of some of the most popular robots and the trader that was supposedly the developer, was actually an actor! Try and find out some background of the prgrammer you can verify before buying.
3. Are the Rules Disclosed to You?
If it’s a black box system don’t bother with it. You need to know the rules and the logic, to follow any system with discipline. You need confidence in the system to make money or you won’t follow the system through periods of losses.
4. Technical Support
Before buying any system I always check the support by asking a few technical questions.
I can see how keen they are to respond and how quick they do it. In my experience most don’t bother or take days, so I pass them by. Always look for unlimited, quick, professional support.
If you follow the above checklist, you will find one of the minority of Forex Expert Advisors that gives you the potential to make big long term gains and enjoy currency trading success.
by Monica Hendrix
About the Author:
FREE! PROVEN FOREX ROBOT
CATCH THE BIG TRENDS NOW!
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December 30, 2009 No Comments
