The Forex Noob

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

I’m always interested in giving someone/something a second look so I revisited the Forex Deal Butler site. I believe the entire site has been updated, I’m not positive about that but that is my first thought. The site is refreshing in that it is not the typical spam-n-scam template that most like products choose.

Previously there was a $4.95 non refundable trial fee and  the system cost $2100, charged to your account if you did not cancel within 10 days. Currently the trial is free for 7 days and if you do not cancel there is a $297 per month charge. Deal Butler appears to be more than an EA you load and let run it includes the software and coaching. The monthly fee seems to be more of a membership fee than the price of an EA.

Here’s the Free Trial Info from the Deal Butler site.

Free Trial Info:

We have a new contender. Today was the first time I have heard of  Dean of the LTM Forex Formula, but then I’ve been busy with work lately and have been away from my forex duties.

Anyone know Dean Sanders? Anyone familiar with his LTM Formula?

According to his L M T Profit Plans he has put his trading strategies into a training program and is now marketing it. Refreshing after the line of robots that have hit the market lately. I would welcome a training program, being a forex noob I have a lot to learn.

Not sure what Dean’s LTM Forex Forex Formula involves but I’m looking. Here’s a brief explanation.

Dean Sanders LTM Forex Forex Formula

L M T Stands for Low Maintenance Trading, L M T is the concept behind Dean’s most successful and profitable trading methods. It is a combination of everything he has discovered over the 9 years of trading forex. He has a free paper that you can download here, L M T Profit Plans.

Dean believes that using the L M T methods anyone can learn to trade forex profitably,so he decided to put his theory to the test. Dean created a small group of  struggling forex traders and set about teaching them exactly how he trades the forex markets. He showed them every aspect of his forex trading system.

After 1 month the results were astounding, every single student in the group was trading successfully. 2 month later some students were at a point where they would be confident in trading full time for a living. Others were happy just using forex trading as a second income.

After much consideration Dean decided to set about creating a home study course, in the course he put everything he had taught the first group of traders this way more people could benefit from my methods. It took months of hard work creating step by step video tutorials and manuals. The course became known as the  LTM Forex Forex Formula.

Apparently the product will go on sale tomorrow morning. I’ll watch out for it. If you have any info please share, I’m sure others will be interested.

I had asked Ben Jaspers to report on London the Rush system. He has purchased it and I felt it would be valuable for readers to hear his experiences. Ben was reluctant to post his thoughts knowing that I had an affiliate relationship with London Rush. Thank you Ben for your concern but to me truthful reports about real life experiences far outweigh any relationship I have with a product. So, here is Ben’s report in his own words.

Hello Jeff,

Here are my final thoughts about the “London Rush”.As tomorrow, Monday, I am going to ask for a refund.

I did not want to send this DIRECTLY to your site, it is up to you if you want to use itor put some “revised version” on the Noob.

London Rush is very “very simple”, a nice looking but expensive indicator, not more notless than that.

But what is very ….., really very bad about it:it is indicating trades after Tokyo closes and the London market opens.

As everybody knows the first 2 (maybe 3) hours in London are very volatile.The London Rush however is still following “the trends” (in 6 GBP currencies) from Tokyo.

For example: “the trend” in Tokyo was Long and in London at first this continues.Then the London Rush indicator will tell you:

LONG TRADE and tell you to enter at a lower level, when it will get there again !!(that can still be okay of course)

Some days: (for example) it indicates 2 Long and 2 Short Trades in GBP, just after London opens.

So ………. we follow the Rush ………BUT…… MOST IMPORTANT …….. the London Rush doesn’t give a  sh …. about all kinds of very volatile UK economic news, what is going to be announced 1 hour or 2 hours later !!!

Really !!  How possible ??

It does not care of any news at all, from whatever country !! Not only the U.K.Every trader knows, that he or she should wait until AFTER the announcements, but the London Rush ……… ??  (is sending you to hell).

You can imagine what can and will happen when you follow this London Rush indicator?You will blowup a 10K account easy in less than 1 month time.

Of course, I myself know about the exact time of all the important news-announcements, but I thought let’s give the London Rush a try / chance.Well ……, I saw already enough, just after using it for one week.

Yes, the London Rush of course is not some EA and is not a scalper, but nobody needs to buy a  $ 97,00  luxury indicator !! (and even a bad one).Some of the free indicators from “Kreslik” are even much and much better.

Jeff, you can really waste a lot of time with things like this, first you think ……. yes, can be good,and SOON you find out that it is Bull ….

Anyway, for me the London Rush is history.Still I hope some of this information is usefull for you (and maybe some other people are CRAZY about the London Rush, but I cannot imagine that).

Okay Jeff, later,

BEN

If you use the London Rush let us know your experiance. If you have a favorite system, EA or site please share.

Thanks for your time,
The Forex Noob