TradeProfits

ForexSecretAgent – It´s Not an EA – Or it it?

Posted on 08. May, 2010 by Bryan.

ForexSecretAgent is apparently a new indicator of some sort. What is funny about this whole thing, is that the creators, in their promotion video claim that:

This is NOT a robot at all

But then if you go to their affiliate page you will see the following:

 Read more... (134 words, 1 image, estimated 32 secs reading time)

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Forex Dynasty – A Closer Look

Posted on 25. Apr, 2010 by Jakob.

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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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.

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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.

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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)

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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.

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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)

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Build Your Own Expert Advisor

Posted on 23. Oct, 2009 by Jakob.

With new Expert Advisors coming out almost daily, it can be a rather tough task chose the right one. All of them claims to make you rich within the end of the week, and yet I am still to see one that consistently makes profit. Although some of them might be profitable, they often have a horrible risk/reward ratio, where one loosing trade will take you back down to zero or worse. I just spoke to one of my friends a few minutes ago, and he told me he was about to learn how to program EA´s and then I thought about this article I read the other day. Well how about programming your own forex robots? I know that this requires some skills and it takes time to learn; so how about a shortcut? Apparently ForexGenerator should make this easier. I have tried their service so I can’t tell if it is good or not, but you can sign up for a free 60 day trial period to test it. If you would like to develop you own EA, why not give this a shot?

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Preview of Ivybot

Posted on 28. Jul, 2009 by Jakob.

Not long ago we had the new FAP Turbo Evolution released, and now we are moving on for the next one, Ivybot. Apparently the creators of Ivybot had a webinar last night where people could get some more information about this new EA. I have been to some of these pre-release webinars and in my opinion, this is nothing but a sales pitch! They will go on for hours, about why you should get exactly this EA and not the other one. But if anybody did attend the webinar, and they had something truly breathtaking to share, please drop a comment. If you want to see the webinar, you still have the chance, as they recorded it and put it up on the sales page. Grab the webinar here. The Ivybot is to be released today around 9 AM EST, July 28th. What I have read about it so far, is that the mechanisms of the Ivybot is somewhat similar to the FAP Turbo, where as the Ivybot will work with four different pairs, and the FAP Turbo is only meant to be used on one pair. The price should be in the range of $150. I will wait and see what other people are saying before I jump in. What are your thoughts on the Ivybot?

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