TradeProfits

Million Dollar Pips – Forward Test Discontinued

Posted on 07. Dec, 2011 by Jakob.

I started to live test the new EA Million Dollar Pips close to one month ago. Since then, performance has gone in one direction only – Down. You can read the details of the setup here Million Dollar Pips – Live Test Running.  Read more... (499 words, 1 image, estimated 2:0 mins reading time)

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Million Dollar Pips – Live Test Running

Posted on 15. Nov, 2011 by Jakob.

It was my intention to start this live forward test some time ago but due to a busy schedule, I simply haven’t had the time to set everything up the way I wanted it. I have spent the last week London with a very tight schedule. Now I finally had some hours to get things started.  Read more... (463 words, 1 image, estimated 1:51 mins reading time)

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Million Dollar Pips – Update

Posted on 05. Oct, 2011 by Jakob.

As most of you know, I grabbed myself a copy of the EA Million Dollar Pips some days ago (Million Dollar Pips – Live Testing). The first couple of days, it was only active the hours I was in front of my computer. I have never seen so much hype about an EA before, and not only the usual sales tactics but also on forums and prof from traders who have performed live forward tests of Million Dollar Pips; needless to say that things looked impressive, which is why I decided to give it a shot.  Read more... (387 words, estimated 1:33 mins reading time)

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Million Dollar Pips – Live Testing

Posted on 22. Sep, 2011 by Jakob.

I hate the name. I am not a big fan of Expert Advisors. The sales page is as classic as it gets! And yet, I bought into the hype! I am now a Million Dollar Pips owner.  Read more... (412 words, estimated 1:39 mins reading time)

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Straddle Trader Pro – Webinar

Posted on 08. Jul, 2011 by Jakob.

Straddle Trader Pro

I have written about Straddle Trader Pro a couple of times before, lately. Straddle Trader Pro is a new EA which automates fundamental news trading. This EA is a great tool for those of you who would like to trade fundamental news releases, but lacks the experience to do this in a profitable manner.  Read more... (197 words, estimated 47 secs reading time)

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Forex Bullet Proof – Classic Marketing Stunt from the FAP Guys

Posted on 31. Aug, 2010 by Moderator.

Forex Bullet Proof is a new expert advisor which will be released today, in a couple of hours. The creators of Forex Bullet Proof are the same guys who made FAP Turbo, so obviously the expectations are high. In addition to this, they have decided to make Forex Bullet Proof available for FXCM´s new Strategy Trader. I am currently testing FXCM´s new platform and so far I am really impressed with it, and I definitely think that creating an EA for this platform is a step in the right direction, as the Strategy Trader has some really neat features which is not available in MT4. When that is said, I still need to test the Forex Bullet Proof and see the performance with my own eyes before I believe any of their statements. Just think back a couple of years when the FAP Turbo Swiss was launched. This was supposed to be a game-changer, as it was to be used with Dukascopy´s platform. It was expensive and from the reviews I read, it failed badly. However, it was a perfect marketing stunt as a way to differentiate the product. We have new EA´s every single day, and the FAP guys know that thye need something special to hype the product. Now I am not saying that Forex Bullet Proof won´t work, but I just need to see actually proof before I buy into any of this hype. This seems to be exactly the same story as we had a couple of years ago; having an EA is working with a different platform than MT4 does not necessarily make it profitable. Anyhow, I guess we will know in a couple of days, how good or bad this thing really is. Check out Forex Bullet Proof here.

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Scam Alert – Dragon Pips

Posted on 27. Aug, 2010 by Moderator.

This is a perfect example of just how scammy this industry can be. A couple of days ago, the guys over at ForexPeaceArmy posted this story about one of their members who bought an (or actually he bought three) expert advisor named Dragon Pips. According to the Dragon Pips sales page, customers are promised a 90 day guarantee refund period. First of all, the EA did exactly the opposite of what was promised, namely losing money rather than increasing the account balance; same old story about expert advisors. But in addition to this, the refund guarantee was apparently nothing but hot air, as the customer never got his money back. One way you can secure yourself for incidences like this, is to only buy products sold through Clickbank or Plimus. Don’t let the scammers get away with tactics like these. Read the full story here.

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MyFxBook – Contest Registration and Expert Advisor Review Section

Posted on 25. Apr, 2010 by Moderator.

Some days ago I wrote about MyFxBook and their new contest section (read it here). A total of $3,500 in prizes will be given out in the first contest and it is free to participate. You only need to have a demo account with FXDD. You only have 7 days left to sign up, so go ahead and join in here. In addition to the new contest section, MyFxBook has also added a new Expert Advisor review section. This is brand new so there are still no reviews but the section itself is very neat! I really like the layout of the site, and the way you can cast your vote. Check it out and drop the first vote.

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Forex Dynasty – A Closer Look

Posted on 25. Apr, 2010 by Moderator.

Forex Dynasty is a new expert advisor which trades the EUR/CHF on the 30 minute timeframe, and is sold for $97 through Clickbank (which gives you a refund guarantee of 60 days). As you all know, expert advisors is not my cup of tea, but the creator of Forex Dynasty agreed to send me a free copy so I could try it out. I have had it running on a demo account for some time now and so far it has only activated one trade, which was a winner. It has a default profit target of 25 pips and a default stop loss of 65 pips. A bad risk:reward, so there is a need for a high winning percentage in order to make it profitable. I will be running Forex Dynasty on a demo account in the next couple of month to see how it performs. In addition to the expert advisor, you get an eBook when you buy Forex Dynasty. At first I thought this was a short manual with instruction on how to setup Forex Dynasty, but this is actually a pretty good book on forex trading, with basic stuff as well as specific trading strategies. Although I somehow feel that it´s a bit weird to add this to an expert advisor, I was pleasantly surprised. In my mind, the book is worth more than the EA. Although I don’t really play around with EA´s, I decided to give this one a look, as the creator has no problem sending me a version to try it out. Anyhow, I will keep you updated on the progress of Forex Dynasty.

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ForexPeaceArmy Update – Sive Morten – Languages – Forex Diamonds

Posted on 08. Apr, 2010 by Moderator.

The guys over at ForexPeaceArmy has made some changes to the forum so you now have the option to use Google Translate and read the threads in your own langue. If you are using Chrome, this feature has been available to you for months, but everyone else who (for some reason) don’t use Chrome, now you also have this option.  Read more... (313 words, estimated 1:15 mins reading time)

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