The Forex Noob

Welcome to The Forex Noob. If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

I’ve been working too much and not posting enough. Basically since the new updates of both FAP Turbo and Forex MegaDroid trades have been very sparse. October ran with only a handful of trades the whole month. I’m running with the default settings and have not had time to tweak things to see if I can make them better or if the bots have run their course.

I’ll get updates up next week. For now is anyone seeing significant trading with either AE? Is there a new product you’ve found that is preforming well?

Thanks for your time,
TFN

Should an artificial intelligence bot that can see into the future lose $132 in one trade?

For the most part my experience with both Forex MegaDroid and FAPTurbo have been confusing and full of I Thought So moments. Neither makes huge profits but instead churns away slowly making small profits and from time to time HUGE losses. I’ve seen both FAPT and MegaDroid follow the same pattern, although I was surprised to see the large loss made by Forex MegaDroid. I will note that the loss was on only one account, the other running MegaDroid did not experience the loss.

Here are the trades for the ForexMeta demo account with the large MegaDroid loss. Remember ForexMetaa has been a broker promoted by both FAPTurbo and Forex MegaDroid publishers yet for me it seldom trades.

Here’s the FxPro accounting for September. Not really much going on. It’s odd to see FxPro with so few trades. At least it’s in the positive. Notice that the trades are EURUSD, that’s MegaDroid.

And now for the my LiteForex (REALForex) account, always the most active. In addition the EURUSD is using FAPTurbo long term strategy instead of Forex MegaDroid.

Have not had time to test any of the newer EA’s that have come out over the past couple months If you have experience with Ivy Bot or any other please let us know how it is working.  We all see the hype but wnat to know real experiences.

Thanks for your time,
The Forex Noob

I don’t get to post as much as I’d like but can still give updates on my FAPTurbo and Forex MegaDroid results at least weekly. Here is the month of July results with my three demo accounts.

My first instinct is to say ForexMeta does so poor with these EA’s that I would avoid using them as a broker. Oh yea, I have said that in previous posts. Truth is FAPTurbo and Forex MegaDroid made only three trades combined on my ForexMeta account but they were all positive. Check out the entire statement here. The EURUSD trades are MegaDroid. That means only one FAP Turboo trade the entire month.

My FxPro account fared better with  The FxPro account statement is here. Like the ForexMeta account the EURUSD is running MegaDroid.

Mid month we had a bumpy ride with FAPT with some uncharacteristically large losses. Otherwise the bots preformed much as they do every month. Small profits with a handful of trades each week.

My LiteForex (REALForex) account has the FAP Turbo long term strategy running on EURUSD. There is currently one trade open long term. See the statement here.

This account has seen larger than usual losses in previous months. It was a relief to see it in the positive again.

I don’t analyze the date as closely as Ben does, read his comments on various posts, here’s one…I look at each broker account and each EA and how they work together. Since finding a good forex broker and finding a forex robot that works are two HUGE subjects in forex trading, especially for beginners, that is where I have focused.

After looking at, playing with and hearing others experiences I believe FAPTurbo and MegaDroid are two of the better robots available. Will others dethrone them, certainly, that’s the nature of progress.

In the mean time I want to move these bots from ForexMeta onto another broker account. ForexMeta just does not work well enough with the EA’s. I plan to trade that account myself using a few tools  and systems I’ve collected.

Any suggestions as to what broker I should add to the test?

Thanks for your time,
TFN

OK, the new wonder bot is Ivybot. My emails are stuffed with marketing letters saying how this is the greatest forex tool ever, like they all do. Right now here’s the scoop:

Ivybot costs $149. The plan is to use this as the introductory price and raise it to $179 in a few days. There is a 60 money back guarantee which is nice. A VIP membership is an additional $99. Sorry, I haven’t dug to find out what is included and the info was not readily available when I skimmed the web site.

As with most intro webinars Ivybot’s was short on concrete info. Knowing the algorithms that make a forex bot work is nice but give me something I can understand and sink my teeth into. The Ivybot developers/marketers have live results available but there seems to be something lacking, ya know, the feeling. Perhaps someone more schooled in forex can articulate it better than I. And then I may be overly skeptical.

If you try Ivybot let us know. I am interested but do not want to lose focus on the bots I have, Forex MegaDroid and FAPTurbo. When you have too many toys most never get played with.

Thanks for your time,
TFN

FAPTurbo and Forex MegaDroid have been out for some time now, in the world of Forex Trading a lifetime of new products have hit the scene since their introduction (Triad Trading Formula, London Forex Rush, Forex Mentor, Forex Maestro, Forex Ambush, and more). Have they become antiquated?

We still see profits with both forex ea’s but are the new products better? Are they clones of these premier bots? Or are they, ss some have suggested, rehashed products that flopped previously and repackaged?

Every day I receive numerous emails selling forex tools, coaching and such. Most fade after a week or so of over hyping eblasts leaving little sign that they ever existed.

What are you using? Are FAPT and MegaDroid working well for you still? What are you looking at for the future of your forex trading?

Thanks for your time,
TFN