The Forex Noob

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

Late yesterday i realized I did not post my morning update. I just got busy with work and since forex is a side thing for me my main business comes first. There were trades with both FAPTurbo and MegaDroid, small, the usual. Even Mig FX followed it’s trend with no trades. I deleted the account. I don’t have time to mess with something that is not doing it’s job.

The one thing that stuck out was a $100+ loss with FAPTurbo that killed all profits. With goth robots my experience is two steps forward and one back, one step forward and three back. At the end of the week you are back where you began.

If you are having success with either FAPTurbo or Forex MegaDroid PLEASE let us know. We’d love to know what broker you are using, what settings you are using and what your results are.

Because I am learning and because I have an attention span the length of a blade of grass I search for other EA’s, systems and such.  Wednesday I ran across one that I used last night. I have it loaded on my FxPro demo account but used the signals it gave to make trades on my live account. Something I learned is that FxPro quoted 5 digits while my live account only has four. I can often see a move on FxPro before it moves on my live account (is that a valid tactic?)

In a few hours of playing with the system I lost only one trade, of course it was on my live account. Ihad to leave the computer for a half hour or so and set my SL as tight as possible. I came back to find the SL had triggered but the pair went into positive money. Had I left the normal SL I would have had about 15 pip profit.

Here’s what the trades look like. First the FxPro demo account.

Next my live account.

**Reminder, placing the actual charts in this blog makes IE go nuts so I cut and past the results as an image. I do not alter any fugures. The live numbers above came from two statements, they were over two day periods.

Now back to the show.

The -$16.65 was when I left and had set the SL closer. I was more conservative because IT WAS REAL MONEY, mine, and I was unsure of the system. The other trades I set conservative TP and ran with a few bucks.

The first statement was a demo acocunt so I entered the trade and set SL & TP and let it run I even went to bed when many were still open. THis morning I was happy to see them all profitable.

Thus far the system seem to work well. It’s for scalping, period. The developer lives on taking 5-10 pips per trade.

The drawback for me is that it’s an indicator system. You wait for the go signa nd buy or sell based on that it tells you. That gets tiring.

The good news is that it is dumbed down so much that all you have to do is follow the signals. And the sigmals are as weasy as OK To Go Short, and OK to Go Long. It also can be used on any pair!

More good news is that it seems to work very well and it’s free.

If you have experiance with any forex EA’s, systems or indicators, good or bad please share them. We have a growing readership of experianced and new traders and with your help we can all become more profitable.

Thanks for your time,
The Forex Noob

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

Man, the new business has be running and I just realized I hadn’t posted my morning update.

It wasn’t until yesterday evening that I got FAPTurbo loaded on all of the demo accounts but as of about 9p EST they were running. Here’s the action form last night.

LiteForex up $39 with one MegaDroid trade. No FAPTurbo trades.

ForexMeta up $28 with one MegaDroid trade. No FAPTurbo trades.

Mig FX no trades at all from MegaDroid or FAPTurbo

FxPro up $25.2 with one MegaDroid trade. No FAPTurbo trades.

Fast FX up $6.56 on two FAPTurbotrades, $9.02 & -$2.46 on USDCAD. Droid is not currently loaded on this account.

The interesting thing is that the three MegaDroid trades were all initiated at the same time 0:22 but closed at different times. Why would this occur?

One thing that I have noticed is that my focus has been drawn away from trading and toward the bots. I’m sure that will turn around but I want to know what makes them work and why. How does the broker effect the trading? They all seem to be triggered by similar events and all make small profits. And they all trade at virtually the same time period. I thought Forex MegaDroid was going to be trading all the time, that’s what the hype said.

What systems are your using? I’m running an indicator that seems to pick up opportunities better than the robots. Funny thing, at almost the same time FAPTurbo

initiated the buy order that lost money the indicator I play with showed a sell. The indicator won that one. Although had FAPTurbo held on for another hour and a half it would have won a 30 pip gain instead of the loss.

Question: If either bot has an open position as a volatile time begins does it automatically close or will it hold on? Most of the time when I analyze the trades that either EA makes I see that if it held on for a bit more greater, or positive, gains would be made. It’s almost like they quit right before the money comes in.

Thanks for your time,
The Forex Noob

Next week should bring a more regular schedule to my life and better posting. I’m just glad the weekend is here although that means soccer, yard work and all that fun stuff. I should have time to finish getting my new office arranged and my computer done. I did have all of the accounts running last night and had fun with one trade myself. I just want time to learn a little each day. This one day on, two days away from forex only confuses things. Oh well, that’s life.

As you may be aware I have had Forex MegaDroid is loaded on four demo accounts with different forex brokers and on one live account. Yesterday I replaced MegaDroid on my live account with the EURUSD long term strategy of FAPTurbo. My live account is the only one currently running FAPTurbo I just haven’t had time to load it on the rest and since Friday and the weekend were close I decided to wait and do it so it’s ready for the new week.

In any case Forex MegaDroid has made no trades on any of hte four demo accounts since the two initial trades on 4/22 (Morning Forex Update 4/22 – FAPTurbo & Forex MegaDroid). If you remember those trades were within minutes of the Droid being set up on the account. Nothing since on any account.

Last night FAPTurbo turned on for a bit. In the image below you’ll see the EURUSD long term strategy trade for $-3 and two USDCAD trades, $10.62 & -$3.27. The USDJPY trade was mine done while playing with an indicator I have loaded. Looks like it took me an hour to make $8.

All in all FAPTurbo was positive although just $4.35

At this point I am uncertian about forex robots. We all are looking for an automated way to trade that makes money. That’s not an easy with something as unpredictable as the forex market. My feeling is that settling in on a system that fits your time and life may be a great way to trade. Work that one system and forget all the hype about AI and hands free trading.

Now, where do I buy that system…….

Thanks for your time,
The Forex Noob