The Forex Noob

Navigating the Treacherous Seas of Forex Trading

Morning Forex Update 5/5 – FAPTurbo & Forex MegaDroid

May 05, 2009 By: The Forex Noob Category: FapTurbo & MegaDroid Update

Wow! it was an exciting night for the robots. Not sure if they were well rested avter the weekend or just felt like some real action but we have some uncharacteristic trading to report.

As you know both FAPTurbo and Forex MegaDroid are not normally active traders. FAPT tends to make 2-4 trades per day, sometimes fewer. MegaDroid usually makes 2 or fewer, usually fewer, trades per day. Last night was a surprise.

First up my LiteForex (REALForex) demo account. Forex MegaDroid (highlighted) made two trades for a profit of $64.8! WOW! FAPTurbo made eight trades, all positive, for $66.14. This is more like it.

ForexMeta, Forex MegaDroid made two trades for a total of $80. FAPTurbo made one trade for $3.55.

FxPro demo account had one MegaDroid trade (green highlighted) for a profit of $60.80. FAPTurbo made 7 trades one with a minor loss for a total profit of $42.78. The two yellow highlighted trades were ones I made while playing with an indicator. I try to remember to use a non typical lot size to distinguish between my trades and the two robots running on this account.

Last night was what I expected from these robots. Maybe more trades form Droid, and I realize that it’s not the number of trades but the end results but with the amount of hype following these forex robots and others we as consumers expect more. More profit. More quality trades (please don’t read that more trades).

Light bulb moment – I think I can do better than either of these EA’s. I’ll set up a separate demo account and over the next month see who has the most profit. I’m a noob, I know little but am continually educating myself. What I have learned thus far is that it appears that robots like FAPTurbo and Forex MegaDroid, London Forex Rush, Triad Trading Formula….are marketed with me in mind. Forex beginners buy them mostly. The long time pro forex traders I communicate with and read reports from generally have their own system and trade themselves. They don’t depend on a robot.

I don’t have hours each day to trade live but I’ll get going. Now, what broker to use……

Thanks for your time,
The Forex Noob