TradeProfits

4xMillion – A 4xProject

Posted on 13. Jan, 2010 by Jakob.

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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.

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Performance test of Expert Adviser’s

Posted on 24. Apr, 2009 by Jakob.

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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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Forex MegaDroid – Another Expert Advisor Hits the Market

Posted on 03. Apr, 2009 by Jakob.

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These Forex Robots are just flooding the market these days. It seems like there is a new EA every single day, always promising the most astonishing results. Well a few days ago, the new Forex MegaDroid hit the market. There has been a lot of talk about it on different forums, and obviously there is a lot of bloggers who are promoting this to be the greatest EA ever. If you go to the sales letter, you will see the typical exaggerated claims! “95.82% Accuracy In EVERY SINGLE Market Condition” – “The Next Level In Automated Forex Robot Trading: Multi-Market Performance, Turning $1 Into $4 In EVERY Market Condition” – “bla bla bla…” The list keeps going! It will probably take you an hour to get through the entire sales letter. If and when you reach the bottom of the sales letter, you will see all usual warnings, terms & conditions, etc. which of course tells you that all the above stated results is only hypothetical, no guarantee for future results, results not representing real trading, etc. Read more... (598 words, estimated 2:24 mins reading time)

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