Morning Forex Update 4/14 – FAPTurbo & Forex MegaDroid
I neglected to post the Morning Forex Update yesterday but then there were no trades on either FAPTurbo or Forex MegaDroid.
This morning has me wondering if I just have something set incorrectly or if these forex robots are a piece of junk. Who cares if they trade when you are not around if you lose money most nights.
Last night on my FAPTurbo on my FastFX (Fast Brokers) demo account lost money again down$55.31!
Forex MegaDroid made did not trade on either the FastFX or FxPro Demo accounts.
Another EA that I am testing lost $180. No, it’s not Maestro or any other I’ve talked about, just one I’m testing out for tweaking.
Truth is I’m about ready to scrap both FAPTurbo and Forex MegaDroid but I want to give them a chance. My plan has been to go live with them Sunday April 19 but I may keep them on demo accounts and trade live on my own. The open positions I iniciated on my FxPro demo account are up over $1500 this morning.
I know that there is risk in forex trading even with robots but if everyone is experiencing the same results I am over the same time period why don’t we hear more about the down performance. One would think that trades would be signaled the same to all users. But maybe I just don’t get it.
Thanks for your time,
The Forex Noob
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April 15th, 2009 at 9:22 am
Me too…. I have been testing FAPTurbo for several months on both demo and real accounts. It’s amazing how fast it can LOSE money. The only success I have had is with the long term strategy (EURUSD) and then only when I trade with the trend.
I purchased Forex MegaDroid this week and have not seen a trade yet. I has attempted to contact their support staff on multiple occasions but they have yet to reply. I would give them a “F” for support.
April 15th, 2009 at 9:57 am
It took 2 days for my MegaDroid to make it’s first trade on either demo account. NOw it makes one or two trades a night but not the same on both accounts.
AND, I loaded it on my live account last night and nothing yet.
Support does seem poor at best for the Droid.
Keep us posted on your progress.
April 15th, 2009 at 4:47 pm
I have been trading MegaDroid on IBFX for two weeks. Last week I had six trades that were all profitable. I tried trading MegaDroid on MetaForex and it wouldn’t make a single trade. Now I’m trying Alpari UK and seeing what happens.
I’m also using FAP Turbo 37 which I found won’t work on IBFX. It would only trade USD/CAD on MetaForex and it does trade the Alpari UK using the long term strategy and the scalping strategy as well.
I think that I would have had more trades with MegaDroid on IBFX if the broker would stop playing with the spreads.
I tried backtesting on all these systems and I found the IBFX returns the best profits for MegaDroid (although I haven’t been able to backtest on Alpari yet)
I would like to know exactly what broker the guy at MegaDroid are using.
April 17th, 2009 at 11:02 am
Erica,
Great info. Please keep us posted on your results. The more info we can gather the more we can profit.