The Forex Noob

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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

My purpose for The Forex Noob is to give my experience as a beginner to forex trading. I tend to veer off track a bit with the  FAPTurbo and Forex MegaDroid updates but that’s a part of the experience. I believe the robots on the market now are attractive to beginners, at least the promises made, and are marketed toward them. I don’t mind giving my updates, I’ve learned much from may who have commented and emailed. Thank you.

I want to continue to share my experience, good and bad, and hopefully help others.

I have suspended my live trading because I do not have the time to do it properly and have lost much of my initial deposit. Honesty time…I did a stupid thing and when moving offices left three trades open while my computer was dismantled. In my arrogance I believed that I know what I was doing and did not protect my trades well enough. All three trades lost big time!

Lesson #1 – Protect yourself  with stops and never leave yourself vulnerable to huge losses.

Lesson #2 – Unless you are trading live with the same or greater funded account be extra careful. My losses would have been huge profits had my live account had the same deposit amount as my demo accounts. Don’t over trade your account.

Lesson #3 – Trading well means giving it a lot of time, especially in the beginning. EA marketers want you to believe you can spend 15 minutes a week trading and make a fortune. The majority of us need much more time than that.

Lesson #4 – It’s going to take a long time to get good and make great gains. Baby steps is the key. Don’t get greedy.

My demo’s are still going with both FAPTurbo and Forex MegaDroid. I’ll get back to live trading in June but want to give it the attention needed to be successful. If you are thinking about forex trading or just started don’t get discouraged, read, learn and understand that it’s going to take time.

Your comments and suggestions are always welcome.

Thanks for your time,
The Forex Noob

I’ve been wondering why the EA’s I have running are inconsistent. It may be their nature, Donna informed us that FAPTurbo “has a ” ’scatter’ feature which means that not all trades are placed at identical times” which makes since. If all accounts running FAPT traded the same currency pair at the same time there would most likely be a huge swing in that pair.

I’ve also read where it is important to change your EA’s magic number frequently if your broker has a dealing desk. True?

The way I understand it a Magic Number is an optional and arbitrary number assigned to an EA via your Expert Adviser property settings. It allows multiple trades for a specific currency pair to be managed correctly.

From metatrader.info “The Magic Number is a unique number you assign to your order(s) as a reference enables you to distinguish between the orders that opened by your expert adviser and the orders that opened by another expert advisers or manually.”

So, we can change our magic number often and in theory DD brokers will not get used to seeing our trades and doing nasty things, not that they ever would.

Does that make since? Is this a valid reason why we see good trades early in EA installation and more poor or no trades after time?

Should we be changing our magic number every day?

Thanks for your time,
The Forex Noob

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: