Forex Auto Trading Systems

Archive for the ‘Forex Trading Systems’ Category

Cash Back Forex has announced a December competition to win an Apple iPad between Dec 1 – Dec 30 2011.
 
Below is the offer as it was sent to me today:
 
“We are pleased to offer a new Cash Back Forex EXCLUSIVE Promotion beginning today.
 
Win an Apple iPad Dec 1st – Dec 30th with Trading-Point
 
Trade 3-5 standard lots this December and enter the prize draw to win an Apple iPad too!
 
Trading Point offers: tight spreads; MT4 platform; no deposit or withdrawal fees; Leverage up to 500:1; EU Licensed; and Japanese email support. Fast account openings and easy deposit methods will help you to begin trading and gain the ability for making an entry for a new Apple iPad. Don’t forget CashBackForex will pay you a rebate of .5 pip rebate per rtl for every lot you trade. You may deposit funds using bank wire transfer, credit card, MoneyBookers or Neteller today!
 
Existing CashBackForex Trading-Point account holders may participate too!”
 
View the full promotion details and make your entry to win an Apple iPad today.

There is a principle in life that those who have it don’t need to flaunt it. You only need to compare the actual trading results of 2 recent forex expert advisors and their websites, to see how that principle plays out in the forex robot marketplace. I won’t go into a lot of detail about 1 Click Pips as the previous post is all about that EA, but in short, I Click Pips has an over-hyped sales-driven multimedia website, offers no proof at all for their ridiculously optimistic profit claims, and when tested (by FPA) has closed very few profitable trades.
 
In comparison, EA-Prof, the #1 EA on Forex Peace Army, ranks very high in 3 things: transparency (the vendors have released the investor password), actual profitability (trades that have been closed off in profit as opposed to open trades) and a simple functional 1-page website that simply offers a description of the product and the opportunity to buy it. No hype whatsover, but plenty of proof to back up whatever claims they have made.
 
You can see a link to FPA’s 1 Click Pips Statement here: 1 Click Pips Demo Trading Statement
 
You can see a link to the EA-Prof Statement here: EA-Prof Demo Trading Statement
 
You can verify these stats for yourself by going to the Forex Auto Trading Systems Prices page where you will see the investor access password and the link to download the Metatrader demo platform to verify it on.
 
Update 15/05/2011
“EA-Prof sent me the following email about the upgrade of their expert advisor:
 
Sequel to the little hitches we had in the present copy of EA PROF, we have decided to upgrade it and the new modified version copy of ea-prof (v1.1) will be out in the next one week. The modify version copy of ea prof will have more parameter to safe guide any account size. Thus, the following areas have been noted in the new version copy of ea-prof:

It is going to come in form of non martingale ea only without option of on and off.

It will have considerable stop loss and not be hidden this time around unlike the present copy of ea-prof.

It will have risk and money management tool with equity stop account.

The new upgraded version copy of ea-prof will be given out free to all those who purchase the present copy of ea-prof.

Thanks.

EA-PROF Team”
 
As you will see from Forex Peace Army’s trading statement, their EA-Prof demo test account suffered a margin call last week on 11/05/2011 and so they stopped the test. Hopefully removing the martingale feature has fixed the problem now. EA-Prof’s own demo test which didn’t trade on the 10th or the 11th, presumably because they turned it off, is still in profit. So I’d recommend anyone who has purchased EA-Prof to do likewise, and not trade until they release the non-martingale version. Either that, or switch off martingale and if losses occur, then switch the EA off altogether until the new version with stop-losses is released.
 
All of this is a salutary lesson on how the fluctuations of the forex market can flummox even the best of EA’s. It’s all a balancing act between risk and reward, and unfortunately sometimes the risk can get out of hand and steal the great rewards hoped for by forex traders, even those using automated forex trading systems.

Forex News, also called Fundamental News, is what drives the currency markets.   What happens is traders react to high impact news announcements, causing major shifts in the market and big moves.   Therefore, by understanding how to benefit from these news events, you can both increase your profits and avoid costly trading mistakes.Forex News Trading can be a big benefit to your trading performance and profits.

A lot of traders don’t take into consideration how news effects the currency markets, or think it is too hard to figure out.  New traders also see winning trades turn into big losers because of news announcements they were unaware of.  Others simply try to avoid trading during news announcements all together.  But the best thing to do is learn how to trade the news in a consistent manner that adds pips to your account like clockwork.

Think about it for a second.   The Forex market is made up of traders (people).   And as much as you hear you should not let your emotions influence your trading decisions, they do.   After all, we are only human.  Therefore, hearing bad news makes us want to avoid a currency.   And in the same way, good news makes us feel confident in a currency.

But there are many problems associated with trading news.  Problems like brokers increasing their spreads, not getting filled, trading platforms freezing and slippage are normal during high impact news announcements.  So, what looks like an easy way to make bug pips in a short period of time, often turns info a frustrating loss.

The problems associated with news trading often lead traders into the arms of Technical trading systems.   However, only focusing on technical analysis, without taking into account market sentiment, risk aversion and risk appetite could lead to making bad trading decisions.   If just makes sense that a combination of news trading and technical trading is necessary for safe and consistent results.

Understanding how news effects the markets can tell you which currencies to trade, when and in which direction.  The technical trading techniques can be used to find the best entries, protect profits and manage the trade for maximum profits.  Basically, you can get the best of both worlds.

Henry Liu and his 10Kto1MM Forex Formula is probably the best example of the successful combination of Forex news trading and Forex technical trading.   He not only teaches you how to trade his system but also gives Forex signals of the very trades he is taking in his live account.   This is the best way I can think of to add Forex news trading to your technical trading and earn while you learn.

The actual acceptance of foreign exchange trading has grown globally. Forex buying and selling manages the trade accounts lively even inside your absence. Handled foreign exchange buying and selling increases your earnings. Even although the foreign exchange robot works worth the money, each and each and every one who invests for handled foreign exchange account will certainly anticipate improve in obtain. To make sure good outcome you’ve choose the foreign exchange software that matches your buying and selling behavior.

Foreign exchange robots can bring you much more earnings than what you get through manually managed accounts. A foreign exchange indicator is incorporated within the forex software program package. It monitors the changing economy and helps to take right choice at right time. It suggests you to regardless of whether take a market or buy according to the currency rate. The software can deal with multiple currency pairs but it is better to use one currency pair at a time to decrease mistakes.

In case you desire to begin a monitored forex bank account, in the beginning you have to get the program form, read this the forex signal agreement and energy of solicitor. The filled application type should be submitted electronically. As soon as the application is verified, you have to pay an initial amount.

The quantity varies using the broker and is usually greater than that paid for non-managed accounts. Tax is applicable in case of any earnings or loss. It’s advised to seek advice from a monetary or tax advisor in the event of any queries. They will supply you with the necessary versions. Fx market is much more lucrative than investing inside a stock marketplace. The markets are available round the clock which provides you endless market possibilities. Handled forex accounts have become a great help for those leading a busy life design. The appealing advantage is the fact that you can have marketplace professionals to manage your accounts while you open a demo accounts to learn foreign exchange marketplace without having risking any actual cash.The foreign trade, simple called Foreign exchange, is a great market certainly. It’s operate in uncountable international markets.

In past, it necessitates a lot of functions and it demands excellent job to obtain a trustworthy Forex broker which will assist to yield large return on one’s money.But now it is a new era and points have become globally new. Instead of struggling and obtaining exhausted, everything is now automated. Even more than 50% of Forex traders are now producing use of an automated software program (a robot) so as to alter the history of their investment.

The actual computerized Forex market runs 24/7, which is an impossibility for humans. With this innovative trading High Velocity Market Master automatic program, the marketplace is analyzed all of the time. Real Foreign exchange information is becoming utilized while scouring for precise, high probability buying and selling possibilities.As soon as this is detected, the automated software invests until the trade turns bad. At this point, it starts scouring for new lucrative trade. It’s really easy and effective.

To begin with, even a beginner in the Foreign exchange market has no commissions to pay to brokers once he is utilizing this automated software. Moreover, the utilization of this effective software will available wide the eyes of encountered traders to new information.

Have you heard of Forex Bulletproof yet? Well, right now, a Forex Bullet proof Robot exists that made its appearance in the market recently, aptly named because it has shown nothing but extremely impressive results for six straight years. Here is a Forex Bulletproof review with everything that you need to know about it.

Naturally, the robot that we tested was merely an earlier version, which means that the robot is even better now. Yes, it gave us completely steady account increases, which never even fluctuated like other robots tend to do on a regular basis. All we saw were steady increases in our account sizes and our accounts never fluctuated the way other robots made them do when put to use too often.

The Forex Bulletproof set does not just come with the robot, but also an add-on and various manual trading systems, all of which have won various competitions lately. This entire combination also came with a package that ensured it would meet any forex trader’s deepest desires and our Review of Forex Bulletproof EA agrees with that.The Forex Bullet proof Robot was made to grow accounts at minimal risk. Any trader’s basics should include making money on a regular basis and this is exactly what this simple robot is made to do. Well, this robot can do that for you by bringing about a constant stream of winning trades, whether for a short or long term, for beginners and professionals of trading alike.

The Forex Bullet Proof add-on, which comes with the robot, can even bring you greater rewards. This particular add-on has the power to double accounts in no time at all, but with a success rate of only 72%. This means that, if you fail, your accounts could empty out in no time. Since there is only a 72% rate of success here, though, we would only recommend this add-on to traders who can deal with crazy account balance swings, as well as monitor various accounts all at once.

The marketers and designers in charge of this robot have already brought about various great robots to our market in the past. This particular dedication to their customer service is therefore very evident in their latest release and will definitely help in getting them an even better Forex Bullet proof Review in the future.

Generally there are many distinct styles and varieties of foreign exchange traders that actively trade on the foreign currency market. In order to take out as much as feasible in profits, they involve and frequently develop a range of strategies, tactics and styles. While a large percent of forex investors struggle to make a income or living from foreign exchange investing, without a doubtfulness, there are some others whom are a lot more effective and also flourishing when it comes to the profits in which they create. In fact, a lot of of these investors have been able to stop their normal jobs to invest full-time since they are able to create consistently rewarding Fx Signals. Is there any one fx trading strategy in which a forex trader employs which certifies regular earnings and long-term wealth?

Of course there are just a number of various trading strategies in which profitable fx investors utilize and share so that other folks may benefit as well however in fact there are a number of very great fx trading approaches obtainable to all of us, we simply need to come across them. You do not need to squander huge amounts of cash to find or acquire the so called programmed trading bots that are marketed by so many foreign currency trading internet sites. If you do a speedy search for them on the common forex forums, you will discover quite a few Forex Signals services and folks in general providing free of charge details on the strategies which they are presently making use of or are in development. These foreign currency communities can become a good source for the battling trader as well as the sophisticated trader.

What is getting reiterated as well as proved by those traders whom are winning in the foreign exchange market is the key to good results is not really regarding the method or style of trading in which you incorporate but more importantly it’s concerning how you deal with your money such as lot sizing, risk management and self-discipline. It furthermore has to do with your emotional mind-set. Psychology has a huge role in whether a trader has what it takes to be profitable when trading the foreign currency markets. If your trading contains the previously mentioned, then the only approaches you actually need are those in which have a marginally above average win to loss ratio.

Two different traders using the exact same technique but one will be a loser and the other a winner. Why? Because their judgements are really based upon emotions and everyone’s emotions are diverse. Without self-discipline, you would be unable to handle your emotions which will cause you to veer off the risk and self-discipline portion of your fx trading strategy. This goes to show you that eventhough the trading method you use is significant, it is nothing much more than a tool for investing and that the correct key to investing will depend on on just how you adhere to your trading plan principles of risk and discipline.

The most valuable thing is the manner in that the fx trader takes advantage and puts to use the different resources which are available to him or her. The discipline to adhere to your trading plan and not trade on emotions is quite critical and is what helps sustain regularity in forex trading. That is the only way to go about becoming a lucrative forex trader in the not so easy, very uncertain business of fx trading. Nevertheless, for a number of individuals, this just isn’t possible and for that reason they turn to Buy Forex Signals from a services company.

Easy Pips Free Forex Signals is an alert service for those interested in forex trading. If you would like to gain free access to their Daily Forex Signals, go to their site and click on free trial. Get your ForexSignal today!

Many people want to make money trading Forex, but they go about it all wrong.  The first mistake they make is treating their Forex trading like a hobby, or some part time activity you put very little thought and effort into.   This type of thinking gets you off to the wrong start and started on a path that only leads to failure.   To be completely honest, you MUST treat your Forex trading like a real business if you want to succeed and make the kind of money that can change your life.

Most would-be traders are ill equipped to treat trading, or anything, like a business.  Most people work for someone else or for a business they did not create.  This means they have the mentality of a “worker” not an “owner”.  Being successful as a Forex trader is not about putting in hours in front of a computer screen, but having a plan and getting results.  YOUR trading business depends how you set everything up AND how you execute the daily activities of your business.

The infrastructure of your Forex trading business is the first thing you need to concern yourself with.   If you opened up a distinct type of business you would need to have a place to work and all the tools that allow you to work.  Starting a Forex business is exactly the same.   You need a place to work that is dedicated only to trading and void of distractions.   You will also need the basics like a computer, Internet connection and trading platform from which to place your trades.   More advanced things to consider are a Virtual Private Server and a smart phone that receives messages from an email account.

Funding your trading business takes more than the money you use to set up your broker account.   If you use a monthly signal or mentoring service, the cost of this must also be taken into account.   But the real way to look at profit and loss like a real business is to look at your trading losses as expenses and your trading profits as income.   This is very similar to other types of businesses.   You’d have to buy the products to begin with (expenses) before you can sell them for a profit (income).

Like any business, you need to have goals.   And the goals for your business need to be based in reality.   Don’t create unrealistic goals for yourself that you cannot reach.   You need daily goals, weekly goals, monthly goals and yearly goals, and a plan to make those goals a reality.  Unlike other businesses, you can use compounding to greatly increase the amount of money you make for doing the same amount of work.   This is the biggest reason starting a Forex trading business is much more attractive than other types of businesses.

To get free training on what it really takes to be successful as a Forex trading business owner, join Forex Insider Pips.  I’ll also share with you exclusive trading tools I use every day to profit from trading Forex.

The development of economic application for Forex dealing is what has produced it feasible for overseas trade traders to make trades from house or work with their unique computer system. Most of this application can be obtained by opening an accounts with an on-line dealing corporation. Here are just some motives you need to use personal software for Forex investing to enable you present earnings related to people of the large players:

Forex Automator Pro

1) It has been constructed with the starting trader in mind.

Breakthroughs in Forex exchanging computer software is a huge part of the explanation for the continued success of the Overseas Exchange industry sector. The application utilised to be difficult and tough to realize and even tougher to arrive by, but now support companies offer you far more user friendly software than actually before. The majority of financial software program for forex dealing comes with total twenty-four hour live buyer help to assure relieve of use and response inquiries that might come up.

2) It’s 100% compatible with your meta-trader and other accounts.

AI Forex Robot

There are a multitude of Forex internet sites to decide on from when hunting for another person to host your account. There are certainly as well a lot of to list, on the other hand a person can discover an accounts that will match their needs as effectively as permit them to turn out to be a rewarding Forex trader. Numerous sites offer cost-free downloadable software for Forex buying and selling when a person indications up for an account. The software program varies from web site to site, on the other hand it can make it probable for an person to industry on their own. This software is uncomplicated to find out and basic to adhere to even for beginning Forex traders, yet it is comprehensive ample to continue to keep even the most seasoned of overseas trade traders fully satisfied.

3) It never ever sleeps and can make trades around the clock.

The typical every day buy and sell in the Forex marketplace exceeds two.five trillion US dollars so it is essential to have another person to turn to if any instant difficulties occur. Because of this it is critical that whatever financial application for Forex investing you choose presents a comprehensive assistance method that’s accessible whenever you would will need it. This will permit you to promptly address any issues that may perhaps arise unexpectedly. A person will study swiftly just how high priced downtime can be if it at any time take place to you.Most all personal program employed for Forex buying and selling functions similarly. It is wise for a person to review many web-sites before generating a selection in this place. Evaluate attributes and ease of use as perfectly as what variety of software program each and every dealing corporation utilizes for their web site.

Bring the time to do a bit of exploration of any web page that presents accounts as effectively as computer software. Recall it is significant to have good solid consumer assistance as properly as other resources. A handful of Forex buying and selling secrets cannot hurt either, but seriously it is significant due to the fact this permits the trader to concentrate on accounts and not be concerned about the other much less significant details or info. Seem to a company’s reputation as nicely as length in organization when generating the choice of whether or not to buy and sell yourself or not.

BBW Scalper

Training style is a wondrous thing to possess and dominating most of the high percentage setups is certainly an plus to any traders arsenal. But in recent years , there has been an increasing interest in psychological trader assets and how those factors , or traits, come to bear in the trading process. At first glance , you would think that technique would carry you a long way in the day trading process. But recent research has exposed several other variables that affect a day traders performance.

There has been no small amount of literature published in recent years on this topic. Some authors have identified as many as 10 variable of successful traders. But for me, it Edit this text down to three basic traits that are of prime important for every day trader to succeed . Of course, it’s difficult to quantify the psychological variables in any discipline, and trading is no different. But if you have the chance to trade with a truly talented trader you will sense these intangible factors .

1. Good traders live to trade. I have yet to communicate with a exceedingly successful trader who was not passionate about his or her workmanship. These are the kind of people who know that the trading environment is exactly where they should be at the appointed time. Great traders show this enthusiasm in their approach to trading. They may not feel it imperitive to announce to the world, “I love trading.” They don’t have to; you can sense their passion and desire when they enter the trading room. They are often devoted students of trading craft , and have an insatiable desire to go forward to learn and master day trading. Trading is not a job for these individuals . Trading is who they are, and what they are. The highly successful traders are nearly unmindful to their surroundings as they trade, but instead are glued to their screens and indicators and are invariably employing the knowledge and skill they have developed . Oddly enough, I have found that “making money” is not the single goal in these individuals lives. No, it’s the sheer elegance of a trade well executed. Further, these traders pride themselves on a session worth of mistake free trading.

2. Accomplished traders never change from their plan . profitable traders have a well highly-developed trading methodology they have learned and practiced . This trading stule is the map by which they trade the markets. They don’t take the side roads , they don’t veer off the path, they have a well defined plan and execute that plan despite outside variables that may distract some traders and send some traders completely off their trading plan. profitable traders have wonderful discipline in their approach and execution of their trading style . They have specific criterion for executing and exiting trades and no amount of distraction prevents them from initiating their day trading plan . Even more remarkable , they are able to continue this high level of discipline for entire trading sessions, for months, for their entire careers. Discipline is the stuff of greatness in a trader. There are no substitutes for discipline. While some undisciplined traders may put together short runs of profitability, they are not able to maintain this high level of profitability over sustained periods. They lack the discipline. I’ve heard talk in trading rooms about successful traders being endowed with a “sixth sense” when it comes to taking trades. That has not been my observation though; the ability to maintain consistency in trading is the output of personal discipline.

3. Great traders are never rushed. I have been fortunate enough to trade with several very talented traders, and the atmosphere in a trading room can, at times, reach a frenetic level of exicitement . But the good traders don’t trade on rumor, or trading gossip , they trade when the time is right. They won’t be stampeded into a trade in an attempt to catch the tail end of a breakout or breakdown. More likely, they entered the trade as the breakout or breakdown became evident . They do not trade in a euphoric state or initiate low percentage trade setups. They are a cool-headed group , these traders. They understand that the opportunities to trade will arise throughout the course of the day and there is absolutely no reason to risk their capital on low percentage trading set-ups . They know that some days there may be a limited number of trading opportunities, and that is all right . A great trader learns to capitalize what the market offers, but realizes the market punishes those who try to steal trades when high percentage setups are not prevalent. They understand that the market is actually a complex percentage game and are ever aware of the prudent percentages that are essential for a profitable trade. They are patient and methodical in every aspect of their trading craft.

I realize that these three traits exist, in a greater or lesser degree, in all traders. Further, not all traders are going to be able to master these three traits. We all have our weaknesses, and learning to compensate for impatience, lack of self-discipline, and passion for trading are ongoing projects. It’s progress we seek as traders, not perfection.  The E-mini trading professor offers an inexpensive trading system to trade using the traits described above. It enjoys tremendous popularity and success with it’s adherants.

It is interesting to note what happens in a week where there is an upset in a major currency, and the effect it can have on EA’s which trade in only 1 or 2 currency pairs. That is exactly what happened this week. Apparently economic news in Europe had a negative impact on the strength of the euro, and 2 of the top 3 expert advisors I am testing actually went backward for the simple reason that one of them, Forex Panda Robot, only trades the EURUSD, and the other, Forex Bulletproof, trades the EURUSD and the USDJPY. Both robots made massive losses on EURUSD trades. Overall they are both still in profit, and retained their 2nd and 3rd positions. Primeval EA however, our No 1 forex trading system, trades on 8 different currency pairs, only 3 of which are Euro-based and while it did make losses on EURCHF, EURGBP, and EURCAD trades, those losses were offset by gains on other pairs, and Primeval EA finished the week ahead, as usual.

So as you can see, diversification is a big factor in ongoing profitability, and a forex auto trading system which is versatile enough to trade multiple pairs, can justify a higher asking price because of the enhanced risk management factor built into its trading strategy. I have been tracking the progress of Primeval EA for a year now, and it just keeps getting better and better. Obviously the asking price of $600 is not a problem, as people just keep buying it. Obviously I could make money promoting any robot, but it is not worthwhile doing that when unsatisfied buyers can easily get a refund from the payment provider, and I don’t get a lot of satisfaction from that scenario either. Hence the purpose of the site, to test and identify the winners, and thus make it easier for forex traders to make effective buying decisions when it comes time to pick from various forex trading systems available for sale on the internet.

The following is a guest article by Erica Smith:

Frequently asked questions related to forex

Forex trading offers an excellent opportunity for investment. This is one of the investment vehicles in which the ROI or Return on Investment is much better than any other trading instrument even though it is a bit risky. But if you are well aware of the strategies of trading currencies that will give you good output, it will be easier for you to trade in the FX market.

Given below are few of the frequently asked questions related to forex. Check them out.

1. What is forex or FX trading?

Forex trading involves trading currency in pairs in the FX market which is one of the largest financial markets in the world where the trading volume of currencies far exceeds the trading volume of stocks traded on major stock exchanges of the world.

2. In which countries is forex trading active?

FX trading takes place the world over but it is more prevalent in countries like Japan, Europe, United Kingdom etc which has the major currency trading markets.

3. Which currencies are involved in currency trading?

The currencies that are mostly involved in FX trading include –

o US Dollar,
o New Zealand Dollar
o Euro
o British Pound
o Swiss Franc
o Canadian Dollar
o Australian Dollar
o Japanese Yen

4. What determines the success of FX trading?

Your success in the forex or the foreign exchange market depends on how accurately you can predict the movement of currencies. You should know when you should place a sell or a buy order.

5. How will you predict movement of the currency pairs?

There are many technical indicators that help you to predict the movement of the currency pairs. Some of these indicators are –Elliot Wave theory, Stochastics, Bollinger Bands etc.

6. What makes forex trading a favorite among investors?

The FX market offers ample opportunity to investors to earn good profits. You need very little money to start trading in this market; it remains open 24 hours a day and covers some of the major time zones. Trading starts in the Asia-Pacific zone followed by Middle East, European regions and then America.

If you want better returns you can seek assistance of a forex broker who can help you in the same. However, the FX broker you choose should be reliable and experienced.

Something I have been very grateful for in the last year as I have tested various forex trading systems, is the help I have obtained from various robot vendors, in setting up their products on my PC, and maximising the settings for maximum profit. So often I read posts from traders on various forums, who are getting different results than others who are trading the exact same expert advisor and a lot of that has to do with settings.

As an example of this, last week Sergio Caruso, the proprietor of Primeval EA picked up on the fact that I had an outdated version of Primeval EA which didn’t take into account Daylight Saving Time. As a result, my version of the EA was taking losses simply because the trades were being placed at the wrong time. Timing is critical in the markets, and it needs to be noted that good expert advisors trade on a strategy. Quite often this involves being in the market at the time of maximum liquidity and price movement (usually market open). Even a 1 hour delay in opening a trade can make a massive difference in profitability. Needless to say, after updating my version of Primeval, my EA started making profit again. You can see the results here: Primeval EA Trading Statement.

As a follow-on to the previous post, I would like to mention again the discount coupon code for MetaPRO Forex which expires November 29, and also draw our readers’ attention to some great discounts that are available at the moment.
Anyone that subscribes to the Forex Auto Trading Systems Newsletter (you’ll find the subscribe form at the top right hand side of this page) will not only get the 8 free gifts as mentioned elsewhere on the site, but in addition, if the subscriber contacts me via the contact form, I will email special links for discounted prices on Portfolio Expert Advisor, Forex Bulletproof, and FX Loophole. Please use the same email address in the contact form as the one you used to subscribe to the newsletter.
Greg Annett, Webmaster

PS 03/12/2010 There is now a new 10% discount coupon code for MetaPRO Forex available on their website.

It is interesting to note the differences between the various EA’s and the way they are set up. Some are very simple and require little or not tinkering to make them trade-ready. Inevitably however, the more sophisticated expert advisors have layers of security and, if they trade on more than one currency pair, some take longer to set up as each chart has to have authentication usernames and passwords entered.

This is understandable, as robot vendors do not want unauthorized users downloading illegal copies of their product and trading in the markets, as this is not only deleterious to their profits, but also to that of their affiliates, and to any other traders using the strategy employed by that forex trading system. For the same reason, many vendors will sell 100 copies of their EA, and then remove it from sale. In demo trading it makes little difference, but in live trading, the more robots that are going after the same or similar price targets in trading, the more difficult it becomes to close a trade. The forex is a big market but when it comes to the micro accounts and the small lot sizes used by many forex trading systems, there is a limited number of opportunities to close, especially if the broker is not particularly robot-friendly and is using strategies to avoid closing these trades.

The reason I brought up this topic is a small issue I had this last week with one of the EA’s. As I mentioned in a previous post, several demo accounts got deactivated several weeks ago, and so I had to open new accounts for those EA’s that were still performing. One of those EA’s was Gold Expert Advisor. What I didn’t remember when I set up this EA again, was that the vendor had to activate my new account number or the robot would not trade. No username or password was required in the settings, but nevertheless an Invalid Account message came up on the chart. Once I realised it however, I simply emailed the new account number to the vendor and all was fine again.

Anyway, back to Forex Golem. When I first tested it I had my doubts as it does seem to make some rather large trades, and indeed this week, it went slightly into the negative after a substantial losing trade, before coming straight back with a string of successful trades. So what I can see about it, is that, while, like any other robot, it can take losses, by and large they are few and far between, and so far it hasn’t looked like getting anywhere near a margin call. And the end result of its aggressive trading algorithm is a very healthy profit increase. So I am keen to see how it fares over the longer term. Certainly I can see that a viable trading strategy for this EA would be to trade till you have reached a certain profit target such as 50 or 100%, withdraw your profit and start over. That way, if you do come to grief later, you at least have cleared some profit from it.
_____________________________________________________________________________________
#1 Rated Auto Trading System - Forex Golem – $70 – Covered by Paypal guarantee:

If you’re like me you probably are over the hyped-up flashy websites advertising forex robots that will make you a millionaire overnight. This post is not about one of those. It’s about our highest selling expert advisor, Cable Run EA.
It would probably surprise you that one of the most effective forex trading systems we have seen, and also our highest selling EA, doesn’t come from one of those slick-pitch, glossy websites at all. In fact, the website itself while well-designed and attractive, is totally devoid of over-hyped sales copy and the usual gimmicks employed by internet marketers.
Why is this so? Because when you have it you don’t have to flaunt it. People are not dumb. They always want the facts before buying, and on the internet it is not hard to find the facts if you dig a little deeper. The independently verified facts about Cable Run EA can be found at Forex Peace Army’s review on Cable Run EA.
It’s the #12 EA on FPA, and has been in the top 15 on that website for many months so it’s not a flash in the pan. With an average weekly increase in equity of 4.73% it’s no slug either. That’s what some banks would like to pay you for a whole year! Is it any wonder people are looking for better investing alternatives?
While I have not tested a copy of it myself, I certainly have sold a few of them. I guess buyers out there know a good thing when they see it. Get your copy of Cable Run EA

Highlights from the History of Trading and the Stock Market

1815: Rothschild bank London sends carrier pigeons to get the news of Napoleon’s loss at Waterloo, makes a killing shorting French bonds.

1845: German immigrant Paul Julius Reuter starts a carrier pigeon network in London. By 1850 Reuters has the fastest reports of Paris stock prices.

1865: American financier Jim Fisk hires fast schooner ships to outrun mail ships with the news of the Union victory in the Civil War, makes a killing shorting Confederate bonds.

1930: After existing tickers are overwhelmed by the 1929 stock market crash, Western Union unveils a 500-character-per-minute “black box” that can process up to 8 million trades a day.

1964: New York Stock Exchange installs first IBM computer system; automated stock quotations appear in 1965.

1978: Intermarket Trading System established, starts a technology arms race as more traders install computers in the rush to speed up electronic trading.

1990: Datek introduces “the Watcher,” a PC-based software program which capitalizes on split-second discrepancies in the small-order trading systems on the big exchanges. The day-trading phenomenon is born.

1999: Liquidnet introduces an electronic exchange for trading big blocks of shares; by 2006 off-exchange trading threatens the overall dominance of the NYSE and Nasdaq.

There are many different ways to make money online these days, and using forex trading systems to trade and thus profit from the trillion dollar global foreign exchange markets, is one method that is becoming increasingly popular.
Not only is this an accessible and affordable form of investment, but never before has there been such a plethora of systems available for sale on the internet, to the extent that the potential trader may wonder how to choose a suitable program, which can reliably earn income for them, with relatively low risk, and reasonable rewards.
As with any area of interest, the answer inevitably boils down to tapping into the knowledge and experience of others who have been involved and learnt their lessons, sometimes the hard way, and who are willing to share this hard-earned information with others. When it comes to forex software, there are websites which the potential trader can go to, to discover, which expert advisors are the most successful, and how to use them.
Here you will find trading results from either demo or live trading, or both, reviews of different products, and discussions of trading strategies employed by different types of “expert advisors” as they are called within the Metatrader software environment. In an industry which is still new, and is often characterized by exaggerated claims and hyperbole, it is good to know that there are online forums for critical comment and discussion, where a trader can go to do some due diligence to establish the bona fides of trading software which is on sale through the medium of the internet, a marketplace which over the years has been known to harbour various scams and can often be plagued by a general lack of accountability and transparency.

Learning to trade forex has become an engrossing pursuit for thousands of internet users all over the world.
So much so, that the phrase “holy grail” has come to be associated with forex trading systems which reach some mythical status of perfection, presumably where one always wins and never loses, in a market known for its fickleness and its ability to turn the tables on the profitability of one’s trading account.
For that reason, many dismiss forex robots, with the thought that because the holy grail is an unattainable status, trying to achieve it with an automated system is tantamount to setting oneself up for failure, especially as the trader has little or no input into the trading process with such a system.
It is true of course, that a poorly designed, unsophisticated robot will inevitably fail, and lose money sooner rather than later, so to entrust your live account to some random expert advisor that has a convincing sales page, but which does not have independently corroborated live test results, is a recipe for disaster.
On the other hand, it is a misconception that using an automated program, even a tried and tested EA, is a hands-off exercise. Nothing could be further from the truth. Even just the simple decision of how much to fund your account with, and the setting of risk level or lot size, is a human decision which, if poorly exercised, can lead to loss. It is a mistake I have to confess to, that of letting loose on my $1000 live account, an EA designed for a much larger account, against the instructions given by the vendor, with the optimistic expectation that because this EA had made money in demo trading for a few months, all would be well and it would increase my capital quickly enough to take it out of the danger zone. This is a mistake I could have avoided by exercising my human judgement, and using a different type of EA such as Primeval EA exclusively on the account.

Over the last year and a half I have tested many different autotrading systems. When I first started, I started compiling a list of every forex robot I could find, and added the links to this site for the benefit of the readers. That list is still there, under the category “Forex Expert Advisors”, and now contains links to over 100 different forex robot sites. Those readers who have been following this blog over the last few months will notice that I have now added a new category, “Best Forex Robots”. The EA’s in this category are either autotrading systems which I have tested, or those which have been tested by Forex Peace Army and have been found to be profitable.

The point I am making in this post, is that while there is a lot of choice out there, and every website promises that their EA is profitable, and many in fact promise massive returns, very few actually deliver what they have promised. As a result, it is very much a matter of “caveat emptor” or “let the buyer beware” in the forex robot market. By all means, readers are welcome to investigate the 100+ websites listed on this site, as there may be some which neither I or FPA have tested, which are OK, but out of the ones I have tested, less than half have even delivered a profit in demo testing, and it is well known that live trading is generally less profitable than demo trading for various reasons. Generally I only test EA’s which have a good reputation on other sites like FPA, or EA’s whose vendors have been confident enough to approach me with a request to test their product.
As a result, it is likely that out of the hundreds of forex robots on the market, as few as 10-20% are worth the price being asked of them. Indeed, out of nearly 120 expert advisors which I have listed, there are only 16 in the “Best Forex Robots” category. The rest, are either untested, or have been shown to lose money, either in my tests, or those tests conducted by Forex Peace Army. Given that most vendors will not allow members of the public to demo test these EA’s before buying them, and many have a known history of being very reluctant to give refunds, this makes it very difficult for potential buyers of autotrading systems to be confident of “picking a winner” before putting their money up to buy a robot let alone risk their hard-earned trading capital in the forex market.
Hopefully the service provided by independent websites like Forex Auto Trading Systems and Forex Peace Army go some way towards “levelling the playing field” so to speak, and while I do make a small profit from the occasional affiliate sale, what is most rewarding about the blogging I do here, is hopefully pointing traders in the right direction, and helping the “little guys” in the forex game make some part-time income from online forex trading. After all, at the end of the day, nobody wants to be scammed, and I for one do not want to promote a scam, regardlesss of how profitable it may be for me or the scammers. I just couldn’t sleep at night with that on my conscience.

One of the interesting things about the Forex Robot scene is the number of exaggerated claims that are made for the various robots by their vendors. Claims that it is possible to double one’s account in a month, or even a week, are commonplace. Exciting though these claims may be, they are rarely matched by the reality of real live account trading. Sure, it may be possible to get lucky and double your account one week, but if the robot follows such an aggressive trading strategy, it is just as likely to lose the same amount the following week if there is excessive volatility in the markets.

Where Forex Bulletproof stands out is the way that while the claims made for it may be modest in terms of the rarefied atmospher of the forex robot niche market, the fact is that this EA’s actual performance does match the claims, and in fact, 5% per month is not a bad return if you consider that the typical savings account only pays from about 5% per annum, meaning that even if you have to borrow the money to invest in automated forex trading at credit card interest rates, because Forex Bulletproof is earning at 5-10 times the rate that you are paying interest, you will still be ahead at the end of the month.

Interestingly, this week marks the break-even point in my testing for Forex Bulletproof, based on the fact that in just under 3 weeks, this EA has made $149.86, just covering the $147 cost of this profitable little expert advisor, meaning that even before you need to make a payment on the credit card, assuming you have the $5000 to invest, you would not be out of pocket. Even if you had to borrow the $5000, based on paying for example a 15% credit card interest rate, you would still have a week left in the month to cover the $62.50 monthly interest payment on $5000, which is not much more than what Bulletproof made last week. Not bad considering that the vendors are not even claiming to double your money in a year let alone a month or a week. Given that some months have 5 trading weeks, it is theoretically possible to break even AND make a small profit in the first trading month, and certainly within the 55-day interest-free period of a typical credit card.

Another thing I like about Forex Bulletproof is the fact that it only trades on Wednesdays and Thursdays, avoiding the more volatile trading days at the beginning and end of the trading week. This is a very smart and conservative strategy, especially as Bulletproof trades on 2 of the most active currency pairs, the EURUSD and the USDJPY, so liquidity is guaranteed, meaning plenty of trading opportunities, but risk is also minimized.

So, all in all, Forex Bulletproof is a well-designed, profitable forex expert advisor by the makers of FAP Turbo, a pioneer in the forex robot market and one of the most successful robots to date. Even so, FAP Turbo is what I would call a high-maintenance robot. There are entire user groups dedicated to optimising the settings of FAP Turbo. What I like about Bulletproof is that it performs right “out of the box” so to speak. I have not had to tweak any settings at all to set up this robot, and that is really what the average user requires. There is already a fair bit of work involved just to find and purchase a good EA, set up and fund a brokerage account, download, install and demo test the EA so that you are familiar with how it works before you set it loose on real money. Having to then play around with settings and experiment with software that could potentially lose you a lot of hard-earned money, is not something that a forex trader wants to add to what is already an emotionally difficult life experience. Forex Bulletproof makes the automated forex investment experience just that much easier, and with plenty of live trading proof available, certainly adds a degree of reassurance to the investment process.

I have been testing Primeval EA for 6 months now, and this month it has proven the consistency of its algorithm by once again gaining the #1 Rank in the Top 3 Robots ranking based on demo trading on this site. Not only has it beaten some strong competition from Forex Goldmine’s Robominer and Pip Strider, it has done so from a starting deposit of $1000. Bear in mind that the 2 Forex Goldmine EA’s require a minimum deposit of $2300 per currency pair traded. This proves once again the “less is more” strategy. Trying to make more money by doubling up the lot sizes such as Martin Locker King and Pip Strider attempt to do, simply does not work on a small account, so for the small investor, a scalper like Primeval EA is the only way to go – scalping being the strategy of small, frequent trades adding up to a larger amount over a longer period. The tortoise beats the hare every time in forex trading. Over a year a scalper like Primeval EA can double your money where a more aggressive robot will probably lose the lot.

In No 2 position is Forex Panda Robot, once again proving that you get what you pay for. This EA seems to use leverage as its main weapon and unfortunately that means big losses if the market goes against you, along with the big gains. It remains to be seen whether it will be profitable in the long term as it only seems to trade about once or twice a week. Two of its trades this week were whopping losses of $1000 each which wiped out most of the profit made last week.

Coming in 3rd is Martin Locker King which has finally started to make some winning trades this week. Another Martingale strategy EA, this is starting to look like a consistently profitable  robot.

Which brings me to the EA’s I have been testing. Interestingly, thanks to a plunge in the AUDNZD following the crash in the Aussie dollar, the Robominer has come back into profit. Primeval EA has suffered losses due to volatility in Euro based pairs particularly the EURCHF and EURGBP. So for anyone who is getting into forex auto trading at this time I would recommend some diversification. In other words, use more than one EA. Unfortunately for me, I did not have enough capital to maintain the minimum recommended live account balance to benefit from Forex Goldmine so I did not benefit from Robominer’s recent success (although you can see the results in my demo account balance!)

On another front, I have started testing a free EA which readers of this site can gain access to by subscribing to the Forex Auto Trading Systems Newsletter. This is not a frequent trader, it is supposed to make a trade once a week but so far hasn’t made a trade so I will keep you updated on how that goes.

I am also about to start testing another Forex Goldmine EA, the Pip Strider. This will probably be another highly risky venture for me as my live account balance is now less than $1000 so it will be sink or swim for Pip Strider. However, with any luck it will make enough winning trades to stay ahead of disaster. I will also be running Pip Strider on a $10,000 demo account so that will give readers a more accurate assessment of Pip Strider.

I have to admit that for most of last year while I was still demo trading, I favoured no-loss trading strategies such as those employed by Forex Goldmine’s Robominer, and I still think such a strategy has a place for those with deep pockets, time on their hands and a willingness to accept a long-term conservative return of about 5%/month. I stress “long term” as the market cycle can take months stretching into years to realise profits when there is strong trending as there has been with the AUDNZD, the main currency pair traded by Robominer.

However, this post is not about Robominer but about Primeval EA, a scalping EA which so far has managed to close all its trades (including the losing ones) and still make a profit of 8.95% in the last month on a live account. In fact, my Primeval EA demo account has not fared that well, and actually has a few trades open at the moment mainly due to the fact that I DID select Primeval’s own EURCHF grid-trading no loss strategy for a few days when I started trading. 7 weeks later, the market still has not brought those trades back into profit. So for anyone that is planning to live trade with Primeval EA, please don’t use the grid trading strategy unless you have at least $2000 in your trading account that you don’t need to touch for 6 months at least.

For those who are able to invest $1500 and some time, ($500 to purchase Primeval EA and $1000 to fund their account), based on my first month of live trading, this EA would pay for itself in just under 6 months, and thereafter would be making about 9% (or more) per month as ROI on the $1000 invested. Interestingly, I did an analysis of which currency pairs were the most profitable, and based on the last month’s trading, I would have made closer to 17% return if I had simply omitted the EURGBP and the USDCAD from Primeval’s repertoire. All the other currency pairs made a net profit on their trades.

Just a hint to anyone who is thinking of purchasing Primeval EA, I have been advised by Sergio Caruso, the administrator of the Primeval EA website, that the price will be going up by $100 on April 1st, so if you want the clock to start ticking now on your trading program, best to join in the next week, not only will you save $100, you will also start making money on live trading. This is not in any way guaranteed of course, and no one can guarantee these kinds of returns, but even if you make enough to beat your credit card interest rate you are still ahead. Just a thought.

Greg Annett, Webmaster

I know that it is often said that there is no holy grail when it comes to forex trading, but to my mind, an automated forex trading system that has a 90+% success rate has got to be about as good as it gets.
Why? Because as human beings we have limited time, and lets be honest here, most of us are not attuned to the sophisticated calculations required for manual forex trading, so even if forex robots don’t get it right all the time, if they can close off their losses pretty smartly, most people should be happy with that.

So is Primeval EA that perfect EA? Well, time will tell, how it fares over a longer period, but so far I can confidently say that it is without exception the best expert advisor I have tested so far. Click here to view this week’s trading stats.