Once again here I am with some new exciting news. As i mentioned before that i would be setting up some kind of a Forex club and the launch date is almost near. I will keep you guys posted.
As for how the robots are doing, well...the Forex maestro is still running well but i have noticed that this robot does not work well when the market is trending in one direction. It is a lot better when the market has decent size rebounds. The robot works on a counter trend algorithm and takes opposite side positions of the trend, so in short what it is trying to do is to take profit on the rebounds.
Anyway, I am working onmy own robot now and i am learning alot from the mistakes these other guys are making and some of my own too :)
once i am ready to beta test this forex robot i will give a shout out to you guys...but oonly to guys that leave a post on my blog so i know who is reading this...:)
Anyway, if you intend to open a live account i recommend FXDD and i would be most greatfull if you use this link to open the account, it won't cost you a thing but i will send you some cool custom indicators that i have if you open an account thru this link...here is the link:
https://fxdemo.fxdd.com/c/onlineregistration/login/questionnaire?ibrokerCode=ms002&languageId=en_US
Wednesday, March 11, 2009
Monday, March 9, 2009
Forex Robots revealed
well guys, sorry for the late update but here is the review has i promised on the 2 robots i've been testing....
1) FAPTURBO-
STAY THE HELL AWAY FROM THIS ONE!!!!!!!!!!!!!!!!!!!!!
I don't think i wanna go into all the bad points of this robot but i have tested it since december and tried every damn setting include the ones the recommend....but the verdict is that it just does not not work as well as they claim....they have 2 strategies...the scalper strategy will make some small profits but the long term strategy will just kill your account...
BUt here is th bad point...this robot is soooooo damn over rated that even the brokers hate it....many brokers are already doing things to ensure that the scalper strategy would not work any more because it hurts the brokers due to the fact that it trade during OFF market hours when liquidity is very low and the banks and brokers don't like this...hence i noticed it worked well in the beginining but now it's just crap...so STAY AWAY and SAFE your money....
2) FOREX MAESTRO
This robot has been decent...i made USD 4000 on my first week on a USD8000 account but from week 2 onwards I have been testing alot off different settings. Here is what i noticed....this robot opens a lot of trades and can give you a major scare due to the fact that floating loss can many a times be really big....what i found works best is to just trade 1 currency pair at a time.
From my testing i see that the best pair to trade using this system is the USD/CHF pair. Forget the rest unless you have a huge account and a very BIG HEART :)
use the default settings suggested on the Advance manual....it works best....looks like the developer had done some good home work....
one more thing is....i did notice too that the software is very similar to FIREBIRD V2 which is a free EA and i am running that now just to compare...
Also i have started to test another New forex robot and will keep you guys posted.....at the end of the day i guess the best thing would be to launch our own ROBOT and keep it really private and just make money for ourselves...;) ( please ignore the spelling and grammar errors if any....kind of in a hurry now)
1) FAPTURBO-
STAY THE HELL AWAY FROM THIS ONE!!!!!!!!!!!!!!!!!!!!!
I don't think i wanna go into all the bad points of this robot but i have tested it since december and tried every damn setting include the ones the recommend....but the verdict is that it just does not not work as well as they claim....they have 2 strategies...the scalper strategy will make some small profits but the long term strategy will just kill your account...
BUt here is th bad point...this robot is soooooo damn over rated that even the brokers hate it....many brokers are already doing things to ensure that the scalper strategy would not work any more because it hurts the brokers due to the fact that it trade during OFF market hours when liquidity is very low and the banks and brokers don't like this...hence i noticed it worked well in the beginining but now it's just crap...so STAY AWAY and SAFE your money....
2) FOREX MAESTRO
This robot has been decent...i made USD 4000 on my first week on a USD8000 account but from week 2 onwards I have been testing alot off different settings. Here is what i noticed....this robot opens a lot of trades and can give you a major scare due to the fact that floating loss can many a times be really big....what i found works best is to just trade 1 currency pair at a time.
From my testing i see that the best pair to trade using this system is the USD/CHF pair. Forget the rest unless you have a huge account and a very BIG HEART :)
use the default settings suggested on the Advance manual....it works best....looks like the developer had done some good home work....
one more thing is....i did notice too that the software is very similar to FIREBIRD V2 which is a free EA and i am running that now just to compare...
Also i have started to test another New forex robot and will keep you guys posted.....at the end of the day i guess the best thing would be to launch our own ROBOT and keep it really private and just make money for ourselves...;) ( please ignore the spelling and grammar errors if any....kind of in a hurry now)
Friday, March 6, 2009
Forex trading Update
Well, what can i say..I had great eperience trading with the Forex robots last few days. One thing i noticed is that most robots get a royal screw on fridays. So my advice is if you are currently using any Auto trading robots to trade currencies....turn it off on fridays :)
I have been thinking quite a bit and after lots of discussion with some of my Forex trading partners...i have decided to eventually turn this blog into a club. I am gonna set up a membership portal ( free of course) and I am gonna open it up to only 500 people to join the club.
In this club we will discuss forex trading ideas and as well as i will share my experience and give reviews on auto trading robots. You see...,the thing with Auto trading robots is that they never work for too long...so if you wanna continuously trade your forex accounts with forex robots...you will have to keep an eye out for the latest in the market and one that works.
This is where i come in, i will continously search and test systems and share them with my club members. what's in it for me....well...i have to think about that later...I would assume that i will get the web portal up in the next few weeks...anyway if any of you guys have a programming team that can help me set this up...give me a shout out..
Keep an eye out on this blog, next week i will reveal the 2 forex trading robots i am testing currently..till then happy trading....
I have been thinking quite a bit and after lots of discussion with some of my Forex trading partners...i have decided to eventually turn this blog into a club. I am gonna set up a membership portal ( free of course) and I am gonna open it up to only 500 people to join the club.
In this club we will discuss forex trading ideas and as well as i will share my experience and give reviews on auto trading robots. You see...,the thing with Auto trading robots is that they never work for too long...so if you wanna continuously trade your forex accounts with forex robots...you will have to keep an eye out for the latest in the market and one that works.
This is where i come in, i will continously search and test systems and share them with my club members. what's in it for me....well...i have to think about that later...I would assume that i will get the web portal up in the next few weeks...anyway if any of you guys have a programming team that can help me set this up...give me a shout out..
Keep an eye out on this blog, next week i will reveal the 2 forex trading robots i am testing currently..till then happy trading....
Thursday, March 5, 2009
Forex Trading Robots
Well recently there's been so much of buzz in the market about Forex Trading robots and honestly i got sucked in to many myself. :)
Little about myself,
I've been trading forex for about 8 years now and I also run a hedge fund registered in Cayman Islands and we trade with Barclay Capital in New York. We mainly focus on High Frequency trading and we trade only the Spot Currency market. Well that's all for my introduction as i don't wanna bore you to death with credentials :)
Now the purpose for me to set up this blog was to share with like minded people about my experience in trading with Forex robots that are marketed on the NET. What trading robots made me money and which ones just killed my accounts.....
I have to tell you one thing though....I use LIVE accounts to trade and test any trading robots because many Trading robots can work on DEMO accounts since brokers do not MESS around with DEMO accounts and also there are NO requotes ( this happens when the market moves rapidly) on DEMO accounts. Therefore as the saying goes...the real test is in the pudding when you trade with LIVE accounts :)
So here is my offer to my readers, I am gonna test all the trade robots that are hot in the market and i will give my review here as to what works and what doesn't. I will also provide my live account statements to whom ever that wants it but that will be via email as i don not want my statements published all over the NET. :) or used by the Forex Trading robot promoters.
Also i am not gonna become an Affiliate with any of the Trading robot promoters so you can expect my review to be for REAL...i will reveal all THE GOOD, THE BAD and THE UGLY ( sorry clint Eastwood....i hope you do not sue me for using that line....i love that movie...i am a old school gin slinging western freak)
To top that, for robots that work i will also share the different settings that i use to make them profitable. Sometime trading with default settings provided by the promoters aren't always good. TRUST ME!!! i learnt this the hard way.
Now what's in it for me....well i guess if you like my advice, then i would hope that you will just feed my dog on the weekend when i go off for holidays :) .....and oh ya...an occasional thank you and a beer would be most welcomed too!!
before i sign out for now. I am currently testing 2 Forex robots. Will keep you guys posted on the results. Too early to say anything yet but seem to be profitable.
cheers!!
Little about myself,
I've been trading forex for about 8 years now and I also run a hedge fund registered in Cayman Islands and we trade with Barclay Capital in New York. We mainly focus on High Frequency trading and we trade only the Spot Currency market. Well that's all for my introduction as i don't wanna bore you to death with credentials :)
Now the purpose for me to set up this blog was to share with like minded people about my experience in trading with Forex robots that are marketed on the NET. What trading robots made me money and which ones just killed my accounts.....
I have to tell you one thing though....I use LIVE accounts to trade and test any trading robots because many Trading robots can work on DEMO accounts since brokers do not MESS around with DEMO accounts and also there are NO requotes ( this happens when the market moves rapidly) on DEMO accounts. Therefore as the saying goes...the real test is in the pudding when you trade with LIVE accounts :)
So here is my offer to my readers, I am gonna test all the trade robots that are hot in the market and i will give my review here as to what works and what doesn't. I will also provide my live account statements to whom ever that wants it but that will be via email as i don not want my statements published all over the NET. :) or used by the Forex Trading robot promoters.
Also i am not gonna become an Affiliate with any of the Trading robot promoters so you can expect my review to be for REAL...i will reveal all THE GOOD, THE BAD and THE UGLY ( sorry clint Eastwood....i hope you do not sue me for using that line....i love that movie...i am a old school gin slinging western freak)
To top that, for robots that work i will also share the different settings that i use to make them profitable. Sometime trading with default settings provided by the promoters aren't always good. TRUST ME!!! i learnt this the hard way.
Now what's in it for me....well i guess if you like my advice, then i would hope that you will just feed my dog on the weekend when i go off for holidays :) .....and oh ya...an occasional thank you and a beer would be most welcomed too!!
before i sign out for now. I am currently testing 2 Forex robots. Will keep you guys posted on the results. Too early to say anything yet but seem to be profitable.
cheers!!
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