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Forex Robots Factory – Testing Expert Advisors

Jakob — Sat, 03 Apr 2010 12:53:47 +0000

Forex Robots Factory is a new site somewhat similar to 4xproject. The main purpose with the site is to test new expert advisors, but they also have short reviews on books and manual systems. They have a live testing section where you can compare result from several different expert advisors. Overall the page looks good, and my guess is that this site will be a popular place for people who are considering buying a new EA. However, as Michael from ForexMagnets has highlighted, there are some pitfalls. The main issue is probably that they don’t test these expert advisors on real accounts, which means that you should not expect to see the same results if you chose to use one of these EA´s on a real account. Michael also mentions that Forex Robot Factory is using affiliate links for all the products tested on the site. I don’t really think this is a big issue. If people want to buy one of the products tested by Forex Robot Factory, it seems fair that they get a percentage. I know that 4xproject operates on a similar basis, and so do I. Anyhow, it will be interesting to see how this site develops in the future. I will be following.

ForexPeaceArmy – New EA´s – Improved Search Function – Sive Morten Outlook

Jakob — Thu, 11 Mar 2010 11:01:04 +0000

The guys from ForexPeaceArmy continue to improve their Forex Portal. They have added 4 new EA´s and a new signal service to their performance page. If you take a look at the Forex Signal Performance, you will see that a few of the providers actually have been able to generate profits for more than 25 weeks in a row, and Sive Morten is close to the top. Now this should be proof enough that you should read his weekly outlook and take his perspective into consideration before entering your next trade. His latest weekly outlook has just been posted, and it is a good read. As a final note, the guys from ForexPeaceArrmy has now improve the search function on the site, which makes it a lot easier to find exactly what you are looking for. If you don’t know how to use it, take a look at this short guide.

USDBOT launching in 30 minutes

admin — Tue, 26 Jan 2010 13:23:06 +0000

The new expert advisor USDBOT will be released in 30 minutes, at 9 AM EST. I wrote a short preview of the USDBOT before. As mentioned earlier, I have spoken to Mark Trenton and he seems like a cool guy, and he is very excited about the launch. They have added real time results on the sales page, and a short manual which you can download for free. I will probably be testing it in the upcoming days, to see if there is anything to these claims. Check out USDBOT here.

USDBOT – Another Upcoming Expert Advisor

admin — Thu, 14 Jan 2010 15:19:22 +0000

USDBOT is a new expert advisor which will be released on January 26th. There are almost new expert advisors out every single day, and the majority of them are not worth the price you pay. Now I have not tried the USDBOT, so I cannot say anything about its performance, but I have been talking to Mark Trenton, one of creators of this new EA, and it seems that they feel pretty comfortable with this launch. Mark is a cool guy, and he was willing to share a lot of information about USDBOT. Although the performance of USDBOT’s back and forward testing will not be disclosed before the launch date, it should, according to Mark have to pretty good results. The USDBOT will be trading two pairs, namely the EUR/USD and USD/JPY and you will be able to follow real time results on the website. The EA will come with a manual and videos on how to install and setup it up properly. Now one thing which is different from this launch compared to other ones, is that they will offer live chat support, so you will be able to get all your questions answered, and get the exact same setup which they use to generate the results posted in the live performance record. I am not a big fan of expert advisors, but I will be checking this one out, especially because that Mark seems to be an honest guy. As the USDBOT will be sold through clickbank, you will always have the option to get a refund, so it might be worth to check it out.

4xMillion – A 4xProject

admin — Wed, 13 Jan 2010 14:49:40 +0000

4xMillion is a new website created by the founders of 4xProject. 4xProject is a website devoted to testing new expert advisors; they are testing a large number of different EA’s and the page is a good source of information, if you consider buying one. 4xMillion is a new project, where the goal is to turn $1000 into one million, only through the use of expert advisors; a rather ambitious goal that is! 4xProject is the foundation of it, in that they will be using expert advisors which have passed 4xProject’s criteria’s, especially in terms of forward testing. The way I understand it, is that they will use a portfolio of different EA´s with customized settings, and change them over time when needed. Currently they use two expert advisors, namely MegaDroid and Forex Nuke. Although I don’t have much faith in the project, it should be interesting to see what the guys from 4xproject can pull off. I will be following them from time to time. Check out 4xMillion here.

Forex No Loss Robot Loses Big Time

admin — Sun, 27 Dec 2009 15:23:44 +0000

I have allowed myself to copy this picture from 4xproject, as I simply needed to share it. It doesn’t get much better than this!

Of all the EA’s which have been tested by the guys from 4xProject, the “No Loss Robot” is the one with the largest loss, both in terms of average loss per week in pips and profit! An average loss of 459 pips per week sure seems like a lot, for an EA which is claimed to have 100% no losses. Maybe they should change the name or build a better EA.

Merry Christmas to everyone here from TradeProfits :)

FAP Turbo Evolution is out

admin — Tue, 14 Jul 2009 15:15:36 +0000

The new EA, FAP Turbo Evolution is finally out. I wrote a post about it a few days ago, which you can check out here. I have been to the sales page, and I am not really sure what to think about it. The first impression is actually pretty good, maybe because I know how well they did with the FAP Turbo. There are a lot of arguments which makes perfect sense. The FAP Turbo Evolution is not compatible with MetaTrader like every other EA out there; you only have one choice which is to use Dukascopy, a Swiss forex broker with tight spreads. Furthermore the FAP Turbo Evolution should be an improvement of the FAP Turbo, but the trading strategy seem to be pretty much the same, namely to perform scalp trading in the Asian session, just like the old FAP Turbo. On the page they claim that one of the big problems with the FAP Turbo was that there were over 40.000 copies sold, which had a negative effect on the market due to saturation; theoretically this could make sense, but in the practice? My answer is definitely not! My best guess is that a very high percentage of the people who were using the FAP Turbo mostly were people with rather small accounts; nothing which would affect the direction of the market. This is after all, something which is mostly controlled by large banks and institutions! And I really have a hard time believing that these guys should be using an automated EA like FAP Turbo. But this is their claim, and because of this, they state that only 2000 copies will be sold; It sure seems like I have heard this before? Anyway, back to the FAP Turbo Evolution. I wrote in my last post that it would only be able to trade a single currency pair. This is, however, not true. If you watch the videos on the site you will see that it can trade 4 different pairs. I also wrote that I would expect the price of it to be somewhere close to the price of the FAP Turbo. Wrong again! FAP Turbo Evolution comes at a whopping $599! However, the EA is sold through clickbank so you will have a period of some 40 days to get your money back if you don’t like it. I am not sure about anything yet. Maybe I will give it a go. I will let you all know. Have any of you guys tried it? What were you experience with it? What about Dukascopy? Is it a broker you would recommend?