Posts Tagged ‘Forex Robot Trading’
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.
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FAP Turbo Forex Trading Scalper Mode
February 8th, 2009
Forex scalping is the fastest growing strategies for Forex trading online. When Forex scalping, trades are used much faster than other forms of trading and profit is often made from even comparatively low fluctuations in a currencies price.
See the Official FAP Turbo Website
Scalping on the Forex market. The main reason people use scalping is usually because of the quick speed with which gains can be made using this technique . Not only that but market fluctuations are much less likely to result in major change between the buy and sell prices.
Other methods of trading such as technical and fundamental analysis rely on breaking down trends and predicting movements based on previous performance or current events. Forex scalping sometimes results a much quicker outcome and traders using this method are simply looking for lots of small fluctuations in currencies during the trading session. There are plenty of alleged forex robots for sale that just are unable to deliver what traders expect, consistent profits. This can be the case with certain so called scalping robots costing upwards of $300 to $1000!
A new comer to the Forex scalping robot sphere is the FAPturbo robot which integrates a scalper mode. Due to its consistent performance as a scalper it has quickly become a favorite among forex online traders. The FAP Turbo Scalper configuration is very sound. It has an internal fixed stop loss with very accurate trading signals, so the risk and drawdowns are very low.
FAP Turbo Scalper configuration is also very profitable. Despite the relatively low profit take value, the the scalper setting is extremely profitable. It is possible to double your balance in a matter of weeks, even using the most conservative settings of the software.
Test Run the FAP Turbo Forex Robot for Yourself
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