New Forex Secrets » Forex Robots

Forex Demolition forex robot is now live – one of my favorites!

forex-lover — Fri, 11 May 2012 15:11:48 +0000

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

Fapturbo 56 – Increased Performance Update!

forex-lover — Wed, 25 Apr 2012 07:08:25 +0000

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.

Forex Expert Advisors Don’t Make Money and It’s Clear Why

forex-lover — Wed, 30 Dec 2009 23:36:32 +0000

Forex Expert Advisors are the choice of more novice traders than perhaps any other method of entering the markets but they all lose money – Here’s 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

Forex Robots – the Dream of Big Profits But the Reality is Losses and a Wipeout of Equity

forex-lover — Wed, 30 Dec 2009 16:09:30 +0000

Forex robots are popular as they give the impression you can make huge gains with no effort and pay $100 for a lifetime income. The reality however does not live up to the hype for one simple reason…

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.

Forex Riches Using Forex Robots?

forex-lover — Wed, 30 Dec 2009 15:20:27 +0000

The Forex market was off limits to the public until 1998. Once it opened up so that anyone could trade, there has been a huge interest in Forex trading, and the potential it holds for making substantial profits.

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

Do Forex Robots Work?

forex-lover — Wed, 30 Dec 2009 14:16:19 +0000

If you’re new to forex, it’s hard to escape the fever that is forex robots. It has quickly become one of the biggest crazes in the trading world.

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:

Forex Expert Advisors – 4 Simple Tips for Finding the Best

forex-lover — Wed, 30 Dec 2009 12:32:26 +0000

Forex expert advisors are big business they all claim gains but the fact is most lose money so if you want to find a winner follow the 4 tips enclosed…

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!

Get free essential trading Pdf’s on catching the big profits and PROVEN FREE Forex Trading System visit our website at: http://www.forextrendfollowing.com

Forex Robots – the Best Thing About the One Enclosed It’s Made Millions and It’s Free!

forex-lover — Wed, 30 Dec 2009 10:51:55 +0000

How would you like a forex robot that works, continues to work, is simple to understand, will outperform almost every sold robot and wont cost you a cent? If you do, read this article and you will discover it and can use it in your own forex trading strategy for bigger profits.

Let’s be clear – forex robots have a bad reputation, as vendors sell them and put out simulated track records which mean nothing in terms of profitability. Sure, they make a profit on a back tested paper simulation but a kid can do that, trading in the real world is much harder!

The robots above have never made any real money the free one here has and its countless millions!

Now this robot has been at the heart of many of the best trading systems and used by some of the top traders in the world – but is so simple, you don’t even need a computer to do the calculation!

The forex trading system we are going to look at was devised by one of the great traders – Richard Donchian who is considered the grandfather of modern trend following. The system was originally devised to trade commodities but works on ANY trending market and of course forex markets trend well and that’s why the system works.

OK here is the system rule and the system name will give the rule away – it’s called “The 4 Week Rule” and here it is:

Buy a new 4 week calendar high and sell a 4 week calendar low and always maintain a position in the market – that’s it!

Simple? Sure it is – but test it and you will see, it makes fantastic long term gains and works on the following logic.

1. Most major trends start from new market highs or lows

2. Currencies trend longer term

Now that easy enough to understand, what you may not be able to get your head around is how such a simple system can make money. However, if you think about it a simple system will be more robust as it has fewer elements to break than a complicated one and all the best currency trading systems are simple – Simple is best and that’s a fact.

The system does have a downside, all systems do and that’s when markets trend it makes money – but when they are in periods of consolidation, it will get chopped and generate losses.

You can however add a filter and that’s exit the market on a 1 or 2 week high or low, go flat and then wait for the next 4 week signal and this will smooth the equity curve.

You maybe thinking – can the above system really make money it’s too simple as we said earlier but if you use it, your in good company, legendary traders such as Richard Dennis were fans and if it’s good enough for him, it’s good enough for you.

Simple yes, but look at this system further – understand it, trade it and it could lead you to spectacular forex trading success in just 15 minutes a day or less.

by Kelly Price
About the Author:

NEW! 2 x ESSENTIAL PDF’S AND ONE OF THE WORLD’S BEST FOREX ROBOTS FREE!

For free infopack and free research and more get your FREE 4 Week Rule PDF visit our website at: http://www.bestcurrencytradingsystem.com.

Forex Expert Advisors – Automated Systems Generally Lose Money Here’s Why

forex-lover — Wed, 30 Dec 2009 09:35:54 +0000

Forex expert advisors are all the rage and traders buy these automated systems and expect to re produce the track record presented and end up losing their money and this is due to one simple fact…

The track records are in most instances simply not real.

If you are presented with a track record by a forex expert advisor, you are told you can expect the same but this in the overwhelming majority of cases is simply not true. Why?

If you look at the track record you will normally see the words “simulated in hindsight” on it. All this means is – the vendor has tested it on back data and then bent the rules to fit and make it profitable.

Some of the track records (if they were real) would out perform the best fund managers in the world but of course there done knowing all the closing prices and when the system is traded going forward, you cannot bend the rules and they lose.

No two pieces of historical data will replicate exactly again and that’s a fact.

There are some forex expert advisors that do have winning software – but don’t expect to get it for $100 or so, expect to pay thousands. While these systems can make money long term (a good one will do 30 – 100% annually) you will still have weeks of drawdown and losses to trade through. Don’t believe anyone who tells you that you can trade without drawdown you can’t – you will lose short term, that’s just the nature of trading.

Ask yourself the following question:

If the forex trading system is so good and can give me an income for life, why does it cost $100 or so?

The answer we have just told you and the old saying applies – if it looks to good to be true it probably is, there is no free lunch in life and especially not in forex trading.

If you want to win you can – but you need to get a proven system or build your own.

Building your own is much simpler than many traders think and is covered in our other articles. The advantage of doing this is, you will understand why it works and will have confidence in it and will be able to trade it with discipline through losses until you hit a home run.

Don’t ever think forex trading is a walk in the park – its not, its hard to win and you would also expect it to be, with the huge rewards offered. The good news is with the right education and mindset; you can enjoy currency trading success but don’t be tempted by a forex expert advisor with a simulated track record to bring you success.

by Kelly Price
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 Forex Education for Beginners visit our website at: http://www.learncurrencytradingonline.com

Forex Robots – When Choosing One Look at This Key Point to See if it Will Make Profits

forex-lover — Wed, 30 Dec 2009 04:30:47 +0000

When choosing a Forex Robot, there is one point you should check to see if it is likely to make gains and if you do you will get rid of the vast majority of Forex robots that lose money…

What you need to do is look at the track record and see if it’s real and it’s a fact that most Forex Robots do not have a real track record of gains. All they have is a back tested, simulated track record over historical data. This means they can buy and sell where they want to (and they do) and make a profit!

Of course in the real world going forward, you don’t know the closing price in advance and these Forex robots lose money quickly. There are some robots that put out (what they claim) are real results but these should be treated with extreme caution, as there never independently audited.

Of course, the only way the automated system traders can come up with track records that beat the world’s best fund managers for $100 is to make them up.

It’s pretty obvious that if you could pay a couple of hundred dollars and double your money each month, there would be no credit crunch, as the whole world would be trading and making a fortune!

There are some automated Forex trading systems that make money but they are a minority. They do have good solid track records and don’t make the ridiculous claims that the Forex Robot vendors do and these systems are a good choice. Take a look at them and you will find some good ones with real, solid long term track records.

by Samuel Leslie Berkovits
About the Author:

NEW! 2 X FREE ESSENTIAL TRADER PDFS

FREE PROVEN FOREX TRADING SYSTEM

For free 2 x trading Pdf’s, with 50 of pages of essential info and a PROVEN FREE Forex Trading System visit our website at: http://www.learncurrencytradingonline.com