Forex Bullet Proof – Classic Marketing Stunt from the FAP Guys

Posted on 31. Aug, 2010 by Jakob.

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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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)

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FAP Turbo Evolution is out

Posted on 14. Jul, 2009 by Jakob.

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Performance test of Expert Adviser’s

Posted on 24. Apr, 2009 by Jakob.

I have just paid a short visit to the performance test page, over at FPA. The performance test page is basically a subpage to FPA, where they show the result from different EA’s which have been forward tested. The results are very mixed. They are currently testing 14 different robots, including the well known FAP turbo, and the new Forex MegaDroid, which I wrote about here. I believe the choice of these 14 different robots is based on user suggestion, as I have received a couple of email, where I was asked which EA’s I would like to see tested. So if you have any preferences as to what you would like FPA to test, I guess you should simply throw them an email. Needless to say that I find this to be a very good alternative to actually buying them! Sales letters are one thing, reality is a different one, especially is this industry! Another positive aspect of these test are, that even if you buy it, you most likely won’t keep it running 24 hours a day, just to test it trading paper money. FAP will (If I understood them correct). When you have seen sufficient forward and feel convinced, then buying it might become an option. I am looking to do some EA testing as well, and post the results here at TradeProfits. More on this later. Let’s have a look at the results from FPA’s performance test.  Read more... (721 words, estimated 2:53 mins reading time)

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ForexPeaceArmy starts testing Expert Advisor’s

Posted on 25. Mar, 2009 by Jakob.

ForexPeaceArmy on EA´s

The guys over at ForexPeaceArmy have added a new feature to their popular homepage. Although they have had plenty of reviews for Expert Advisors in their review section, they have now started to test some of these, trading paper money. This is, in my mind, a great addition. There are released new EA’s almost every single day, every one of them claiming farfetched results. Obviously, the majority of these automated trading robots will not perform anything close to the results stated.  Read more... (295 words, 1 image, estimated 1:11 mins reading time)

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