Tag Archives: Expert Advisors

FapTurbo 56 Without FX Choice Optimized Settings = Big Time Fail

fapturbo

My fapturbo saga continues. A while back I made a post about how the fapturbo team have improved performance via better settings. The bad news is that at the time those customized settings were only available to people who would open up an account with their preferred broker – FX Choice. Essentially you had to sign-up through their IB (introducing broker) link which means that no only do they get money from you when you pay for fapturbo itself but they also get regular commissions from FX Choice for as long as you continue to use that broker. But anyways,  I was expecting the fapturbo team to eventually release these custom settings to everyone (as they said they would) that is a rightful owner of the product.

That has not happened!

So while I waited for them to release the fx choice optimized settings to everyone I thought I’d just run the default settings on FX Choice. The end result was not impressive at all. My demo $50K account is now at $43K after 3 months of testing.

So the conclusion is that I guess if you want at least the chance of making profits with fapturbo you have to give in and open up an account with their preferred broker and through their IB link.

I’m going to ask the fapturbo team to let me use the optimized settings on a DEMO FX Choice account but I doubt they’d be willing to do that. It’s worth a shot though as at this point I can’t open a live test account with that broker.

I’ll keep you up to date if I succeed in getting this accomplished. If I do I will restart my demo testing.

Until next time,

Happy Trading!

Alan

Jane’s EA

Hi everyone. I cam across a new forex robot and I thought I’d share it with you all. The name of this EA is “Jane’s EA“.

So what kind of EA has Jane devised. Well, at first I thought of calling it a scalper, but it seems to hold on to trades for quite some time. It works on the M1 (1 minute) time frame and trades on 14 currency pairs – 14!!

The EA’s website says we can expect a return of up to 100% per month.

I’ve got a copy on a demo MB Trading account and so far I’m in profit. Right away after I attached Jane’s EA on all 14 currency pairs a fire storm of trades started. This EA is definitely a frequent trader, and no doubt for some of you this is precisely what you’re looking for.

I’m going to run Jane’s EA on that MB Trading account for a month or so before I publish performance results, but in the meantime I suggest you view the Jane’s EA live account performance on Jane’s EA homepage.

Btw, I also opened a thread at the forex robots forum if you want to discuss this EA. Here is the link.

PipJet is Now Live – New EA from the Forex MegaDroid Team!

pipjet

Hi everyone. It looks like the Forex MegaDroid team has been quietly working on a new EA and they just officially released it today. Their new EA is called “PipJet” and if I understand their sales page and promo material correctly is basically a Asian session scalper for the USD/CAD currency pair. I must admit that is a pretty neat idea that has crossed my mine on multiple occasions.

Now I’m not going to tell you a load of bullshit how this EA is going to make you rich overnight, all I can tell you is that it warrants a try. The forex megadroid team has had success with their previous EA so it would be safe to assume that they are fairly good at coding a decent forex robot.

So I bet you are wondering why USD/CAD. The Pipjet team says the following (taken from their sales promo e-mail):

a) In the last 36 months the tick volume on the USD/CAD during the Asian session has gone from a paltry 244 to a MAMMOTH 4,324.

b) The average range has gone from 69.63 pips to 27 pips in the last year! If you don’t know what that means, let’s just say that…
…the smaller the range, the tighter your trades can be…so basically you don’t need to do anything risky.

c) The symbiotic nature of the US and Canadian economy means that the USD/CAD does not have acid reflux when news releases come out! It’s STABLE!

d) The spread has gone down from 5.1 to 1.8 pips! Okay, I KNOW I don’t have to explain that one to you!

e) This price channel on the USD/CAD during the Asian session is ACTION PACKED!

I did notice the decrease in spread on this currency pair, but never noticed the increase in liquidity during the Asian trading session. I use another Asian session scalper but that one so far only trades EUR/USD. Maybe PipJet might make a good addition to my EA repertoire. Either way I’m hoping to get a copy to try out either for review purposes or I’ll just outright buy it. I’ll of course report my findings with 100% brutal honesty as I always do.

For now if you’re the curious type and would like to give PipJet a try (it’s sold via ClickBank so you have that 60 day money back guarantee if it turns out it’s not your cup of tea) you can do so by visiting the PipJet homepage.

I’ve created a forum thread at the forex robots forum for PipJet. If you wish to chat and share your experience you may do so here:

http://www.forexrobotsforum.com/showthread.php?t=213

Cheers,

Alan

Forex MegaDroid v1.39 now available

Hey everyone. A quick post here to let you know that a new version of the popular forex robot – Forex Megadroid – has been released. They’re up to version 1.39 now. From what I hear this EA is still making good pips. I personally haven’t used it for a while as I’ve replaced it with another similar Asian scalper EA called Forex Demolition. But when I get some spare cash I’m planning on opening another brokerage account (I’m thinking maybe FinFX or MB Trading) and letting Megadroid take control.

Here is a listing of all the new features:

– Enhancement of the Recovery Mode algorithm

– Re-coded the ‘order close’ logic in a way that minimizes the chance of
trades closing at a worse price than expected and can even result in trades
closing at a better price

– Added multiple enhancements to the layout and functionality of the
display interface

So if you have a copy go update it now!

They also apparently have a new members section.

That does it for this post. I wish you all many pips!

Cheers,

Alan

Forex Demolition Performance Update #1

forex demolition

Hello there.

I’ve been really busy lately with my VPS business so I haven’t had much time to dedicate to my blogging, but let’s see if I can spare a few minutes to write this quick update post regarding my ongoing testing of the Forex Demolition forex robot. As I announced in my last post on this topic  Forex Demolition was recently released to the public. I’ve had a copy all along and have been quietly testing it. So far so good. My live MB Trading account is up by a lot. I started with $400 and I’m now at over $1000

The last few months have been pretty rough for the EUR/USD pair but thankfully this EA has smoothly sailed the turbulent seas of volatility.

So for the curious you can see my live test account’s entire trading history here:

http://www.myfxbook.com/members/fxguru/forex-demolition-live-mb-trading/76744

I’ll try my best to keep you all up to date on the latest happenings regarding Forex Demolition.

Oh, one more thing before I end this post. I spoke with the main developer who told me that they are working on tuning the EA for other currency pairs. Hopefully that will turn out to be a success as it will mean we can extract more pips from the market.

Happy trading to you all!

Cheers,

Alan

Forex Demolition is now LIVE!

forex demolition

Hi everyone.

I have a news announcement to share with you. One of my long time profitable forex robots (EA) has finally hit the market – ie it’s now available for purchase. The name of this EA is Forex Demolition. I’ve been using this EA for a very long time. A good friend of mine is the main coder behind it so I’ve been lucky enough to be able to test it out on a LIVE account.  This is the only EA that I’m  using on a real money account for now. It is not a super frequent trader but when it trades it’s very accurate. My live account performance can be accessed here:

http://www.myfxbook.com/statements/76744/statement.html

This is a MB Trading account. I activated the EA on the account right after that big dip in the account balance. Previously I had some other EA that nearly crashed my account so I manually traded my way back up to the initial account opening balance and placed Forex Demolition on it, and have been happy with it ever since.

I should mention that Forex Demolition is a scalper EA so the broker you use and the spread matters A LOT! If you notice that you don’t get many trades or no trades with a particular broker try another. Some brokers increase the spread during the time when this EA trades and since this EA has a spread protection mechanism it will NOT trade. ECN and STP brokers work best. The lower the spread the better.

So in conclusion I think you definitely want to look into getting your own copy as this is the real deal folks – an EA that makes pips not empty promises and lofty claims.

To find out more or to get a copy you can simply visit the Forex Demolition Homepage.

I would also encourage you to share your experience and performance over at my forex nirvana forum. There is a thread dedicated to this EA over here.

Happy trading!

Cheers,

Alan

Fapturbo Increased Performance Update 56

fapturbo

Hello fellow traders!

It has been quite some time since I last blogged about the Fapturbo expert advisor,  but I guess now is as good a time as any since the fapturbo team have released a new update which they claim will dramatically increase performance. We shall see about that. I must confess that I stopped using fapturbo a while back mainly because  with the stock settings it was not profitable. I ran all the scalper pairs and also the long term strategy, but from what I heard on a few forums the stock settings are basically junk so I never got far with my fapturbo test account.

Now that this update 56 is supposed to bring on a huge performance increase I intend to resume testing fapturbo again. The fapturbo team’s sales pitch is that we should expect “a HUGE PERFORMANCE INCREASE in just about every aspect.. our programmers have spent months to finetune those settings and add new algorithms.. so prepare yourself for HUGE gains!” Well now, they are just begging to be put to the test. All I can say is – Game on!

I do have some bad news though. Apparently not everyone will have access _initially_ to the improved fapturbo 56 settings. They want you to become a “premier member” to gain access to these settings. What this means is they want you to sign-up for an account with their recommended broker through their IB link. I guess selling just forex robots is not as lucrative as it once was. Anyways,  let me clear it up for you:

FAPTURBO 56 is optimized for their broker called “MyFXChoice”

For now I’m going to stick with a DEMO myfxchoice account and if all goes well I’ll be nice and open a live account through their IB link.

So now it’s time to install it and see how it goes.  I’ll make another post with a link to a myfxbook page once I get everything setup. From there on you can monitor my performance via the myfxbook page.

For those of you who have never heard about fapturbo you can find out more on the Fapturbo homepage.

Happy trading everyone!

Alan out.

Why FXDD sucks for use with Forex MegaDroid

Hmm, well, it seems I have to give up trying to use Forex MegaDroid on FXDD. This broker just plain sucks for use with Forex MegaDroid due to the constant high spread during the Asian trading session (when Forex MegaDroid does its trading). I gave it a fair try and waited a week but I constantly get safe spread limit exceeded errors. Check them out:

2011.12.11 17:53:28 MegaDroid EURUSD,H1: Strategy2: Safe spread limit normalized: spread = 28
2011.12.11 17:53:25 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:25 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 45
2011.12.11 17:53:24 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:24 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 41
2011.12.11 17:53:21 MegaDroid EURUSD,H1: Strategy2: Safe spread limit normalized: spread = 37
2011.12.11 17:53:20 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:20 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 44
2011.12.11 17:53:11 MegaDroid EURUSD,H1: Strategy1: Safe spread limit normalized: spread = 43
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy2: Using DayDirection filter
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy2: Safe spread limit exceeded: spread = 57
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy1: Using DayDirection filter
2011.12.11 17:53:07 MegaDroid EURUSD,H1: Strategy1: Safe spread limit exceeded: spread = 57

So this is a heads up to all of you who are thinking of using this expert advisor on FXDD. I would suggest you look elsewhere for a better broker. I am going to close my FXDD account in a few days and look for another broker. I’m not sure which broker I will choose but I have my eyes on FinFX which has been lauded as a good broker to use with Forex MegaDroid.

I’ll keep you all up to date.

Cheers,
Alan