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I just checked the FAPTurbo long term trade on EURUSD that was still open on the LiteForex (REALForex) demo account. It closed after hitting its TP.
I love to see something work as expected. Too often I feel I’m being negative wehn posting updates about EAs. This was great news to me.
Thanks,
TFN
Friday Morning Forex Updates are generally sparse. Neither FAPTurbo or Forex MegaDroid trade on Fridays unless you change the No Trade Friday setting in FAPT. I allowed FAPT trade on Friday early in my testing and found it unwise. That may have been due to very volatile markets or just that FAPTurbo does not like Friday. In any case I now have the default No Trade Friday set.
FxPro made no trades with either FAPTurbo or Forex MegaDroid.
ForexMeta made no trades with either FAPTurbo or Forex MegaDroid.
LiteForex (REALForex) made no trades with either FAPTurbo or Forex MegaDroid.
The FAPTurbo long term trade on EURUSD is still open on the LiteForex (REALForex) account is still open. I am happy to see it in the positive
I have often traded long term and don’t mind waiting for a trend to head my way. One thing to remember is that if you have a smaller account balance, under $5,000, you may be limited with what trades you can open safely depending on your long term positions. You don’t want to have a couple larger long term positions open and start scalping only to get stopped out due to margin limits. Been there, done that.
That’s it for this morning. Have a great weekend.
Thanks for your time,
The Forex Noob
I’m working to get back to consistent morning updates. Here’s this morning’s.
FxPro made no trades with either FAPTurbo or Forex MegaDroid.
ForexMeta made no trades with either FAPTurbo or Forex MegaDroid.
LiteForex (REALForex) with FAPTurbo made one trade one trade for a negative $8.56.
The FAPTurbo long term trade on EURUSD is still open on the LiteForex (REALForex) account.
That’s it for this morning. I have a few thoughts & questions percolating and will put them in black and white soon.
Thanks for your time,
The Forex Noob
A quick update on what my FAPTurbo and Forex MegaDroid are doing.
Last night ForexMeta had no trades on either EA. I continue ot be stumped on this one. After all ForexMeta is the main “broker” both recommend.
FxPro had one nice trade with MegaDroid for a positive $60. FAPTurbo had three trades totaling a loss of $.51.
My LiteForex (REALForex) demo account had four FAPTurbo trades for a positive gain of $21.92.
On this account, LiteForex (REALForex) I have the FAPTurbo long term strategy running on EURUSD instead of MegaDroid. There is one open trade.
I want to see how the FAPT long term strategy compares to MegaDroid.
The trend continues in that MegaDroid trades less frequently but has greater per trade profit and fewer negative trades.
Thanks for your time,
The Forex Noob
I’ve been out of Forex circulation for a couple of weeks. Sorry for the lack of updates. Getting a new business up and going takes a great deal of time, add family obligations to that and something has to give. I’ll work to make at least a few updated each week ’till things settle down.
My first task this morning was to process comments. A lot of spam, a couple good comments and one profanity filled rant. I deleted the later along with the spam and in retrospect am sorry I did. It has me thinking. I should have posted it sans profanity.
As I remember it two main points in the comment were 1) I was trashing robots that were good and allowed automatic trading along with live trading. No specific bot was mentioned. 2) I was “obviously too poor to trade forex”.
My first thought was that I don’t believe I’m trashing any forex product. I comment on personal experience using a number of products. I, and others, report on our results with products we are using or have used. I don’t believe we have found anyone at any level who is realizing the results claimed in these products marketing.
Because my background is Marketing I have commented on the marketing style adopted by most forex products I have come across. I may have trashed this. I am very opinionated when it comes to marketing campaigns for any product. I find most of the forex products marketing efforts offensive. They prey on the greed what festers in us all and desperation for many who can’t afford to lose the money they probably will end up losing. They also insult our intelligence with over hyped claims and testimonials.
As for being too poor it got me thinking about the forex trading market. Who is the typical trader? What was their initial deposit? How long have they been trading?
And now, what is the fastest growing segment in forex trading? How old are they? What is their typical initial deposit? Do they trade themselves or use an EA? Are they in it to get rich quick or for extra income or full time employment? What is “too poor to trade forex”?
My guess is that the complexion of the forex trader has changed and continues to change. Obvious right? Old timers are probably professionals who have been trading for a decade or so. But I bet the fastest growing segment of forex trading is me, the noob. I bet the complexion is changing to a younger, second income seeking, family oriented person. They are the ones seeking and purchasing the bots. They are the ones opening accounts for $100, $200, $500(LiteForex has accounts that trade in US cents) in hopes to turn that into thousands. And the EA marketers prey on these people.
Now I’m interested in finding out Who is the forex trader.
Keep the comments coming. I don’t mind confrontation but won’t accept profanity. And if you comment please be as specific about product or subject so we can all understand and help.
Thanks for your time,
The Forex Noob
p. s. I found the comment mentioned above in my email for aproval. It’s a comment on Forex Deal Butler by Lee. You can read it here, minus the profanity. Anyone have experiance with Forex Deal Butler? Anyone else believe as Lee does that anyone speaking negativelly about Forex Deal Butler is a loser?
