TradeProfits

Forex Robots Factory – Testing Expert Advisors

Posted on 03. Apr, 2010 by Jakob.

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.

Continue Reading

Can you fake mt4stats?

Posted on 26. Mar, 2010 by Jakob.

I think FAP Turbo was the first EA where you could see ”live results” from mt4stats, imbedded on the sales page. As FAP Turbo was selling like crazy, it is easy to understand why everyone else selling EA´s started to take the same approach. However, most of the time when you buy one of these EA´s which has shown incredible live results from mt4stats, they still manage to lose money consistently on your real trading account? How is the possible when you have seen amazing results from a long period of forward testing? Showing good results from forward testing is obviously a very good sales pitch, but I am yet to see any EA live up the results posted on any sales page. Over at the MQL 4 Forum, there is a pretty interesting discussion regarding the possibility to fake mt4stats results. This guy jjc is arguing that it is possible to do so, as long as there is a financial incentive to do so:  Read more... (613 words, estimated 2:27 mins reading time)

Continue Reading

StealPips – A new scam from the guy behind USDBOT

Posted on 23. Mar, 2010 by Jakob.

I am sure most of you guys remember USDBOT; an expert advisors which was sold through clickbank some time ago. I have written a post about it here, because I was in contact with this guy “Mark Trenton” over Skype who was telling me that he would help me out with the promotion of my new book Forex Hacking, if I emailed my list about his new EA. So I did, and afterwards I never heard a word from Mark again. Hi simply disappeared. A few days later, a lot of buzz about the USDBOT started to pop up, all over the net. USDBOT was a scam. Apparently it was an exact copy of a free EA from the Forex Factory forum called Opto123. USDBOT was then changed into an EA using a martingale strategy, and now the product has been removed from (and by) Clickbank (probably due to a high refund level, as people could simply grab the free version).  Read more... (316 words, estimated 1:16 mins reading time)

Continue Reading

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

Posted on 11. Mar, 2010 by Jakob.

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.

Continue Reading

ZuluTrade On the Go

Posted on 24. Feb, 2010 by Jakob.

ZuluTrade has been around for some time now and they constantly update their site with new features. Personally I think the look of their website is a bit confusing, specially the way you see the performance of their members. However, I guess it just takes a bit of time to understand everything. One thing is certain; if you like the idea of automated trading, this is probably a better approach than relying on some EA. Automated trading via ZuluTrade will be done by real people, hence they are better suited for market adaptation than some EA will ever be (obviously you need to find the right traders, though). ZuluTrade has now updated their Iphone application, so you can keep track of your account, on the go:  Read more... (217 words, estimated 52 secs reading time)

Continue Reading

USDBOT launching in 30 minutes

Posted on 26. Jan, 2010 by Jakob.

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.

Continue Reading

14 Cool Forex Freebies you should Know About

Posted on 24. Jan, 2010 by Jakob.

I have posted about most of these before, but I thought I would sum it all up in one post. These are great resources for forex traders, and they are free. Check it out and throw a comment. Do you have any additional ones we should know about? Feel free to share your thoughts.  Read more... (1065 words, estimated 4:16 mins reading time)

Continue Reading

USDBOT – Another Upcoming Expert Advisor

Posted on 14. Jan, 2010 by Jakob.

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.

Continue Reading

4xMillion – A 4xProject

Posted on 13. Jan, 2010 by Jakob.

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.

Continue Reading

Forex No Loss Robot Loses Big Time

Posted on 27. Dec, 2009 by Jakob.

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!

 Read more... (104 words, 1 image, estimated 25 secs reading time)

Continue Reading