Archive for the ‘EA Trading Tests’ Category
Correlation Code Sells Out
November 21st, 2009
Jason Fielder has just announced that Correlation Code is almost sold out.
He goes on to say “I believe there may be a few left… we expect them to be gone VERY soon.”
He also says “We won’t be re-opening this time either, so this really is the final chance to get involved in what we are proud to say is the finest forex trading product we have ever brought out to the market.”
I’d say there is a good reason Forex Impact won’t be re-opening Correlation Code this time. That’s most likely because the Quad Charting software and strategies are almost ready for prime time. If so, then their next product will be the final release version of the Quad Charting software and a set of unique strategies to put it to full advantage. That is identifying and trading breaks in currency correlations.
We already know that the full Quad Charting pack and strategies are out of beta release, it is going to be selling for around $5,000. And it looks like it’ll be worth every cent even at that price. However currently, the Quad Charting pack is still officially in beta release and is included as a free bonus with for all Correlation Code members. Jason has also stated that all owners of the Quad Charting pack will be ungraded to the final release version free of charge. Hmm…
So the choice is get the Correlation Code and with the pre-release version of the Quad Charting Pack now and start correlation trading today or wait for the final release and hope that Jason decides to discount the price a little from the expected $4997. One thing is for sure, when the Quad Charting pack final release comes available, it will not be cheap.
Mail this post
Forex MegaDroid Quick Review
August 13th, 2009
Forex Megadroid has been making quite a stir in the automated forex trading market. The brainchild of Albert Perrie and John Grace, Megadroid is the culmination of 38 years of combined forex trading experience. They’ve taken their own successful manual trading system and channeled it into a fully automated Forex Robot.
Perrie and Grace claim their FX robot trades with a 95.82% accuracy in any market condition. One of the unique features of Forex Megadroid is the use of their proprietary Reverse Correlated Time And Price Analysis (RCTPA). This is said to be the next level in Artificial Intelligence for Forex trading and can take any average trader and turn them into a top gun.
Profitable forex trading not only requires finding a good trading system, manual or automated but also a good broker or at least a way to trade on a level playing field. One of the big questions when forex trading is. “Are you trading on the forex market or trading against your broker?” There are some brokers that profit more from your loses than from the margins on your trades. Forex Megadroid includes a mechanism they refer to as the “Broker Pledge Buster”. The idea being to trade stealthy through your broker, without them knowing you are using an automated system.
The big questions are of course. Does it work? And is Forex Megadroid profitable? The sales page has many screen shots to show how well Megadroid performing very well for the creators of this robot but the only way to really know if this robot is profitable or not is to test it out. So that is exactly what we doing.
Forex Megadroid isn’t a simple one click install but it is still very easy to setup. The only part that is a little unclear in the setup instructions is the money/risk management settings. While the manual explains the purpose of these it doesn’t shed much light on the appropriate settings for various account sizes. Starting with a USD $10,000 demo account at Alpari UK I have left these setting at the default values, as are all the settings. Once a few trades have been executed the manual will no doubt make a little more sense in this area. So the lot size and risk setting can be appropriately setup according to the account balance.
Please check back here for updates. Of course you can also follow along our test with your testing of Forex Megadroid completely risk free. Forex Megadroid comes with a full 60 days, no questions asked money back guarantee. You can literally have it up and trading a free demo account in less than 10 mins. You can download and try out Megadroid here.
Mail this post
Posted in EA Trading Tests, Forex Live Trading Tests, Forex MegaDroid, Forex Trading Robots | 
Tags: ea tests, forex robots, megadroid, megadroid review | 
2 Comments »
Forex Maestro Enigma
July 16th, 2009
The real money doubling robot? At least at the moment…
Forex Maestro by design is unlikely to perform well over the long run, as it uses a variation of the Martingale strategy. This is really the exact opposite of what would be considered “good money management rules” for trading Forex and I’m sure it will make Bill Poulos shudder.
When a position is opened, the prudent strategy is to set your stop loss to at a position where you don’t expect the market to go, while at the same time keeping the maximum potential loss to a minimum. If the market moves against you, your position is exited with a known minimal loss. The logic being, the premise of the trade was wrong and there is no reason for you to remain in the trade. Take the small loss and look for another opportunity.
With the Martingale strategy, rather than exit the position, you take out a new position at the current price, lowering your average percentage loss. If the price moves in your favor, you can now exit with a profit overall. If the price continues to move against you, another position is opened to again reduce the average percentage loss. Most of the time this works but every now and then this is going to end in disaster.
Clearly this is not a sound trading strategy for success in the long run. However not everyone is looking for long run solutions. If you are looking for a way to quickly grow an account balance or are just trading Forex for fun and are using money you can afford to lose. Then Maestro could fit the bill.
Out of all the robots currently being forward tested, Maestro has put in the biggest gains over the past 2 months. How long will this winning run last? It is impossible to say but it has almost doubled the initial starting balance on this demo account in less than 2 months.
Here are the live results from Maestro. Starting with $5000 on May 25th. It’s balance is currently sitting at $9290 in less than 2 months.
Maestro goes against all sound money management rules and no one should even dream of trading live money with this robot over the long term, because it is eventually going to lose big. Perhaps even wipe out the account balance.
However one approach to a robot such as Maestro, is to apply good money management rules to the account balance itself. The strategy would be, let it trade until the initial balance has been doubled then withdraw the initial deposit and leave it to trade with what is essentially free money. Your account balance is the stop loss. In every trade, you are potentially risking the entire account balance. So the account balance itself is your level of risk exposure.
This should only be done with recreational money, money you can afford to lose as Murphy’s law will probably apply. That being, the moment real money is deposited, the robot loses.
And don’t trade Forex Maestro with their recommended broker. Last time I checked, I couldn’t even determine in which country the broker was located. A scam? I hope not.
As always, stick with a broker you know and trust.
Update: It seems that Maestro may no longer be available. However here is another Forex Robot that makes no secret of the fact that it is based on the Martingale theory.
Mail this post
FAPTurbo Evolution Forex Grail or Forex SCAM?
July 10th, 2009
In 3 days from now FAPTurbo Evolution will be here. Is FAPTurbo Evolution the Forex Grail or just another Forex SCAMBOT?
The Internet is overflowing with glowing reviews of Forex scambot after scambot. And there is no shortage of positive reviews about FAPTurbo Evolution, even though virtually no one has had access to any live trading results or even back tests.
Before you bust out your creditcard, step back for a moment and look at the information we have at hand.
FAPT Evolution is being sold purely on the reputation of FAP Turbo but what is the real truth behind FAP Turbo? For example: What happened to all the live trading accounts that used to be on the FAP Turbo sales page? The disappearance of those results is what prompted me to purchase FAP Turbo and start running my own forward tests. Those results good or bad will be freely available in my free newsletter, along with the results from over a dozen other high profile robots which are in the lab and on the slab for detailed examination.
The sales page has a slick video up, which is sure to get the adrenaline pumping and send you hunting for the “BUY NOW” button.
Don’t FAPTurbo Evolution until you know the answers to these extremely important questions!
FAP Evolution is being marketing as the “evolution” from Fap Turbo.
Is FAP Evolution just a repackaging and rebranding of FAP Turbo?
Which by the way, you can buy for less than quarter the price of FAP Evolution.
Has FAP Turbo actually lived up to the hype that surrounded it?
Did it ever live up to the hype? What ever happened to the live trading reports that were once on the FAP Turbo sales page? “Fool me once, shame on you. Fool me twice…”
The FAP Evolution sales page suggests that the Metatrader platform suffers from execution lag. Is this true? Or is it a simple fact that execution lag is just a fact of life when trading online, no matter what platform you use. Metatrader is extremely efficient code and you can easily run multiple instances with multiple EAs using multiple charts and choose from dozens of different brokers. And your computer won’t even break out a sweat. Metatrader is packed with powerful features and plugins, many designed for automated Forex trading EAs, forward testing, back testing, optimizing, analyzing.
They suggest having only one broker to choose from is a good thing. While Dukascopy may offer excellent spreads, you need at least $10K US to open a live trading account. If you are going to risk 10K, then you better make sure you know what it is you are getting into.
So is FAPturbo Evolution destined for the Hall of Fame or the Hall of Shame?
Get the cold hard facts before you invest your hard earned cash.
Stay informed on the best Forex Robots as they become available and avoid wasting time and money on SCAMBOTS.
Find out the answer to these fundamental questions right here.
Mail this post
