Morning Forex Update 4/29 – FAPTurbo & Forex MegaDroid
It’s good to see action on FAPTurbo and Forex MegaDroid. I’m still very confused especailly with Droid. Here’s an example of my confusion.
Last night I had two MegaDroid trades within an hour of each other. Here’s the results.
You can see two buy orders placed within an hour of each other and closed within two hours of each other, the first trade closing before the open of the second. Now look at the actual chart. I labeled the buy and sell for the first trade but the question arises for both trades.
If Forex MegaDroid is truly Artificial Intelligence and can “see 2-4 hours into the future” why did it close for a 10 pip profit when it could have closed much higher soon after?
I’m happy Droid made a profit but it was marketed as and many of us purchased it because it was more intelligent than other forex robots. It would make larger profits because it looked past the knee jerk reaction of less intelligent bots and look into the future and see the larger profits.
Has anyone seen that ability in MegaDroid?
As for the rest of the accounts here are the results for last night.
Tne FxPro account was more active than usual, 5 FAPTurbo and 2 MegaDroid trades. Unfortunately the small FAPTurbo trades were wiped out by a large loss.
The ForexMeta account had two Droid trades, no FAPTurbo trades.
The Mig FX account has FAPTurbo and Forex MegaDroid installed like the others but has yet to have a trade. I opened the demo account with Mig FX because of reports that the robots were not trading on peoples acocunts. It appears that this is the case. All other accounts, four total, have traded using the AE’s at one point or another. Mig FX has yet to open a single trade.
LiteForex saw a number of FAPTurbo trades but none for Forex MegaDroid.
There’s even one open trade still running. This is confusing. (Notice the last trade close time. It was open when I started this post)
Is there a reason for a robot trading differently on various accounts? One would think that if conditions were good for a trade they would be good for a trade no matter what broker was being used. Why do we see MegaDroid trading on three and not the fourth? (I discount Mig FX, it appears to be unfriendly to the bots).
Why does MegaDroid not live up to it’s advertised intelligence and ability to see the future?
Nothing is perfect I know.
Thanks for your time,
The Forex Noob
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April 29th, 2009 at 11:51 pm
Dear Mr. Noob…..I am a true noob. I haven’t traded Forex yet and just found out about it a week ago. Do you have any advice for get me started? I would appreciate if you (or anyone else knowledgeable) can head me in the right direction. The robots seem to be a waste of time and money. Is there a good place to get info that will help with manual trades? Also, what is the best broker to go with? I would appreciate any help you or anyone else out there can give me.
April 30th, 2009 at 7:25 am
Jason,
About brokers, you can read my openion, they all seem to be crooks in one way or another. First decide what is important to you in a broker and look for those attributes. Pick 2-3 brokers that seem OK and set up a demo account with each. Keep your demo deposit realistic, if you will be starting your live account with $500 don’t use $100k in your demos.
Trade for at least 2 months on demo accounts (that was the best advice I received when starting). If a broker does not measure up open another demo with a new broker. Test many. Write and call Customer Service. If you plan to use a bot or system test it out on the demos. We are finding that bots work differently with different brokers.
Research & read…Research & read…Research & read.
I have a few pef’s that I have gathered that I plan to add to this site. Just need the time. Also, the links to the left are categorized, go the the training sites and the blogs and forums. If you find a good site let me know and I’ll add it.
Patience it the best thing to have while learning forex and while trading. Get ahead of yourself and you’ll lose your money.
Please keep us posted on your progress and feel free to ask questions. If anyone else has advice for Jason shot it on.
April 30th, 2009 at 3:07 pm
Jason,
Maybe for you to start with ….. on this site (on the left):
FOREX TRAINING:
Choose: BABY PIPS (is very good to start with).
This is like going to school again.
Good the Noob has this “Baby Pips” on his site, and indeed ………
PATIENCE is number ONE.
Okay, take care,
Ben