Morning Forex Update 9/11 – FAPTurbo & Forex MegaDroid
Should an artificial intelligence bot that can see into the future lose $132 in one trade?
For the most part my experience with both Forex MegaDroid and FAPTurbo have been confusing and full of I Thought So moments. Neither makes huge profits but instead churns away slowly making small profits and from time to time HUGE losses. I’ve seen both FAPT and MegaDroid follow the same pattern, although I was surprised to see the large loss made by Forex MegaDroid. I will note that the loss was on only one account, the other running MegaDroid did not experience the loss.
Here are the trades for the ForexMeta demo account with the large MegaDroid loss. Remember ForexMetaa has been a broker promoted by both FAPTurbo and Forex MegaDroid publishers yet for me it seldom trades.
Here’s the FxPro accounting for September. Not really much going on. It’s odd to see FxPro with so few trades. At least it’s in the positive. Notice that the trades are EURUSD, that’s MegaDroid.
And now for the my LiteForex (REALForex) account, always the most active. In addition the EURUSD is using FAPTurbo long term strategy instead of Forex MegaDroid.
Have not had time to test any of the newer EA’s that have come out over the past couple months If you have experience with Ivy Bot or any other please let us know how it is working. We all see the hype but wnat to know real experiences.
Thanks for your time,
The Forex Noob
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September 12th, 2009 at 5:45 am
Hello Jeff,
Lately your site seems to become “rather quiet”, not so much activity anymore ??
Same slow activity with the bots is going on during the past few months.
The number of trades are very low and so are the profits.
However, in fact the reason for this is very simple.
During the so called “asian hours” (which is a wrong expression) all the
brokers start raising their spreads with 3 or MORE pips.
The spreads are becoming too high, so the bots are unable to “work normal” and if they can still make a few trades they have no other choice than “to accept” small profits.
Your Megadroid trade from 11 sept., the $ 132,00 loss ? did you close it manually yourself ?
It opened at 1,4580 (sell) and during the day it reached 1,4555 and ended the day at 1,4570 (NY, Chicago close)
So it still would have been in some profit (also did not reach the S/L).
But, anyway, you know what I am thinking about Megadroid, I wrote about that some time ago.
(the “deal” etc etc between FapTurbo and Megadroid)
So far, my demo-accounts are doing very, very well.
Apari UK + 110 % NETT profit in about 5 months time, so more than doubled.
GFX Swiss + 114 % NETT profit (also in 5 months time).
Alpari and GFX “working” with all 3 pairs.
And the “new” Fap Evolution + 27 % NETT profit in less than 2 months.
“working” with all 4 pairs.
Still all the bots on Default Settings, with MM.
And the risk parameter rather low.
Regular I also get really HUGE losses, many times reaching the S/L.
But still ………. am I only lucky ?
About the “Evolution”, I am still not convinced about the performance, but I am not going to ask for a refund.
The “old FapTurbo” seems to do better, regardless the much higher spreads from Alpari UK and GFX Swiss.
Dukascopy has rather low spreads, but as an ECN broker they also charge commission, so in the end ………. what is better ?
The best thing about Dukascopy, I find, is that all the live-accounts are segregated, because that is really important.
Okay, hope all this was somehow helpfull.
Best regards, BEN
September 12th, 2009 at 5:54 am
Hello Jeff,
Am I missing something ? …… no August Update. Holliday ?
Ben
September 22nd, 2009 at 4:21 pm
Men today GBP/USD is the opportunity!!!!! The pair is likely to provide a good short entry level for those playing the larger set of shoulders where the neckline sits at 1.5947 and in the event that it trades higher the pair should be capped by the downtrend and further resistance at 1.6435 in the short term.
This is a ACMs chart for the currency pair
http://www.ac-markets.com/forex-news/forex-alerts-2009-9-22-13-45-CET-GbpUsd-price-stops-at-fibo-50.aspx
PS: Fabturbo rules!!!