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

What a terrible night for FAPTurbo. Large losses were seen with two of the three demo accounts, the third making no trades with FAPT.

ForexMeta outperformed the other accounts by not trading FAPTurbo. The one trade made, the first since July 2nd, was a Forex MegaDroid trade for a $40 gain.

FxPro made the same $40 gain with MegaDroid as the ForexMeta account. With FAPT it delivered large losses totalling $136.70. The one positive trade brought the account to a net -$120.59.

LiteForex (REALForex) saw similar results losing $94.24 on a EURGBP trade. It did gain on two USDCAD trades but ended up with a net -$62.04.

Last night Forex MegaDroid preformed as usual, a scarce trade but for $40 profit. FAPTurbo was uncharaastic with it’s large losses. Generally losses have been held under $25.  Percentage wise it killed the month ot date preformance of the EA.

So, did you take the same hit with FAPT last night?

Thanks for your time,

TFN

Well, I’m working to gt back on track with my forex testing, trading and reporting. After a business expansion, weeks camping trip at the beach and general life I may me near being back on a regular basis.

Here are my results for July thus far. All demo accounts have run equal time although not every day. You’ll notice an interesting thing in that ForexMeta has made only one trade in July.

Here is that ForexMeta statement. One trade early in July. No activity since. I will change the magic number today to see what effect if any that has. As far as I have seen ForexMeta is not friendly to either  FAPTurbo or Forex MegaDroid.

This is the FxPro statement. Not bad considering the speraticness of me having it going. The EURUSD is MegaDroid. I see one trade early in the month for a positive $40. Droid seems to trade far fewer times than  FAPT but usually has a decent profit.

This is the LiteForex (REALForex) statement. The EURUSD is  FAPTurbo long term strategy. Like Forex MegaDroid it had one early month trade but also has one open trade.

FAPTurbo and Forex MegaDroid continue to make small somewhat consistent gains with most demo accounts I’m running . The odd situation is the ForexMeta account. Based on my tests if  I was searching for a broker I’d steer clear of ForexMeta.

That’s the quick update. More later.

Thanks for your time,

TFN