Ivybot, The Newest Forex Wonderbot?
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
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July 29th, 2009 at 1:46 am
Now bots out everyday! This is really crazy. If I were to try a new one, it would be FAP Turbo Evolution. The team behind it seems slightly mor reliable than the majority. However, they also use the pain-in-the-ass long sales letter stuffed with crazy claims, but from what I can tell, FAP Turbo has been one of the best EA’s out there. So I guess there is some kind of hope with the new one. I might look into it, but it requires an account at dukascopy, in addition to leaving my computer on all night…
July 29th, 2009 at 8:47 am
I agree that FAPT has proven itself reliable and the developers/marketers more trustworthy. I also agree that the marketing style of most are over hyping scam like pitches resembling late night get rich quick direct response infomercials.
Isn’t FAP Turbo Evolution simply FAPT for Dukascopy? Are their significant updates in the program to make it worth a grand?
I wonder if the FAPT Evo team have some affiliate agreement with Dukascopy and that’s why they developed it.
Oh, for the most part I like MegaDoird. It has lived up to most of the claims and has preformed profitably.
July 31st, 2009 at 8:28 am
Yes, again some new bot, Ivybot.
In fact this is bad news and it will make many Forex brokers more and more crazy.
As we all can see on our platforms, in the trading-hours from Fapt, so called the quiet trading-hours with no volatility, the brokers are increasing the spreads dramaticly, making it almost not possible for the Fapt. to trade as a scalper.
I am still using demo-accounts with Alpari UK and GFX (Swiss) and see the spreads constantly changing, almost every minute.
Last night Alpari UK up to:
US / CAD 10,5 (spread)
Euro / CHF 11,5
Euro / GBP 7,5
GFX now is starting doing exactly the same thing with the spreads.
Really crazy !!
Making it not possible for our Fapt EA to trade !!
What I also notice, already for a long time, is that the rates shown on the different platforms (Alpari and GFX) are ALWAYS different ……. up till even 3 or 4 pips !! (how much money is that when your position gets “closed” or is staying “open”)?
And this has NOTHING to do with the internet-connection, many many times the differences are staying there for minutes and is going on through the whole trading session.
Can the brokers manipulate their platforms?
I think so …….. (sure)
In case you think this is some BS story, just check it yourself please.
Anyway, when you see all this, this is surely not encouraging to open a live account with any of these brokers, but makes everybody more skeptical.
Up till now my Fapt. EA was doing quiet well, and when I would have followed their advice NOT to trade the US / CAD till further notice, I would have more than doubled the 2 demo-accounts in 3 months time.
Now the results are + 61 % and + 80 %
Regarding the Megadroid, already some time ago, I asked for a refund, because Megadroid whiped out completely 2 demo-accounts (50 K and 100 K) with some long-term trades.
(settings were on default, simply following their instructions and just let the bot “work”).
However, I purchased the Fapt Evolution for $ 599,00 to see if it is “different” than the Fapt.
The good thing about this (ECN broker) Dukascopy is that the live-accounts are segregated, so that is already safe.
Spreads are low / normal, but on every trade you pay a separate commission, which is rather much on a 10 K or 20 K account.
Anyway, it is possible to get some 25% / 30% of all commisions back through “The Asian Group” when you open a live-account.
“Bad” is that you have to open a new Demo-account every 2 weeks.
Probably you know that Fapt Evolution add one more pair (GBP / CHF), so now is trading 4 pairs.
Till now I cannot see too much of a difference with our “normal Fapt” …….. looks like it is “thinking” a little longer and than the bot reacts very VERY fast.
Anyway, on my 100 K demo-account (for me realistic) so far I made 11,8 %
profit ….. in 7 (seven) trading-days.
All on default settings.
And of course, the Fapt guys made a very VERY nice commision-deal with Dukascopy. That is for sure !!
Maybe for them that is the real Evolution !!??
Even now Donna Forex (Fapt) is selling “her settings” for about 60 dollars through some kind of membership ?
Well, well ……… what is this ?
Is there someone who wants to buy “my settings” ?
Anyway, I keep you posted about the results from the “Evolution”
BEN
August 6th, 2009 at 2:17 am
They way I read it, was that there were made some changes to the FAP Turbo Evolution, but I am not sure. Anyway, I just read about the Ivybot, that it uses no stop losses. This is just a lame ass approach to trading, just like Forex Ambush 2.0. Sure you will get a lot of winning trades, but remember that every time it enters a trade, your entire account balance will be at stake! Surely this is fine, trading paper money, but my real account? No way!
December 6th, 2009 at 8:19 pm
I bought into IvyBot based on their claims it’d work on any size account. And it did, worked it right into the dirt. NOT impressed as even *I* can loose my money, just not 24/7. With no stop loss, not even a trailing stop that I can tell, you’re flying by the seat of your pants with this one.
I also have MegaDroid, which won’t make a trade no matter what. Can’t figure that one out, nor find anyone that can even give me a hint as to what I may be doing wrong.
My very first EA was FapTurbo. Still like this one. It didn’t do so well on my small account ($250) and maybe that was the problem. The account was too small. Never did get a good grip on what all the settings do, their potential impact and how to compensate when markets change.
So they all sit by the wayside, maybe to never be run again while I commit a “do over” and get some live coaching on a demo account. Should have done that before running thru nearly $1,000 on a live account.
Whit