[FAP Turbo Guide - getting the most of automated forex trading] In Search Of ...

[FAP Turbo Guide Team]

We spend a lot of time looking for new EA:s that could potentially be profitable ones. The Expert Advisor Industry is however a jungle and a pretty dirty industry with plenty of scams and rip offs. Many developers manipulate data, use fake testimonials, paid actors etc. to make their EA stand out from the crowd to get you on the hook. Everyone is in this game for the money. And they want YOUR money!

We are of course in this game for the money too. But unlike many EA “review” sites promoting all kinds of crap that will blow your account, we only promote EA:s and services that really work. There is of course no guarantee that an EA will work forever, but we only promote EA:s that we trust enough to put our own hard earned money on.

The first advice we would like to give to anyone who wants to get involved in automated forex trading is: DO NOT TRUST ANYONE! Don’t even trust is! Use blogs such as this one as guidance on where to dig further and to save some time searching for profitable EA:s. Then do your own due diligence, backtest, forward test on demo account, and then trade on live account using micro lots for a few weeks before you see that results are as expected. Only trust your own trading data!

Over the last few months, we have spent hundreds of hours analyzing and testing a large number of EA:s, both commercial EA:s and free EA:s. The only two EA:s that really work according to our opinion at the moment is FAP Turbo and Megadroid. These two robots keep building our account balances day after day, week after week.

There are many commercial EA:s out there all of them claim to be the holy grail. We have analyzed most of them. Just to name a few popular commercial EA:s that does not work:

10pipspro EA
910 The Phantom robot
Artificial Intelligence
Automated Forex Grail
Bartrader EA
Bogie NN V8
Bonansa EA
Forex Auto Trader EA
Forex Autopilot EA
Forex Beater EA
Forex Bull Trader
Forex Fantasy
Forex Funnel
Forex Funnel EA
Forex Hitter
Forex Killer
Forex Raptor EA
Forex Tracer
Forex Tracer EA
ForexHope
ForexRobotTrader
FXPromaker EA
FXtradepro EA
Gainscope EA
Gridweaver
GridWeaver EA
Groodge EA
Hedge Calculator
Hercules robot
Jitterbug EA
Magician EA
Managed Account
Money Grid EA
My Lucky EA
New Generation EA
Pallada EA
PID EA
Pipmaker EA
PipsLand EA
Pipsleader
Piptronic 2.0
Pointbreak
PointBreak EA
ProAdvisor 5 EA
Shark EA
SMA MultiHedge robot
SniperForex
Steinitz EA
Steinitz HAS MTF
Stomper EA
Terminator
The MasterMind 2
TheForexMaestro
TradeGoose EA
Trio Hedge EA
Triple XXX EA
TyScalper EA
Universum 55/50,10 Points 3
Viseu Open 001 EA
Wizard
WSS EA

What has been very popular recently by some marketers of commercial EA:s is to reverse engineer and use the code of a free EA that is available on the web, rebrand it and try to sell it. This is the case with Maestro, Forex Fantasy, RemExpert and Magic Machine. They are all just rebranded versions of freely available EA:s. Stealing someone else’s work and then try to sell it is a very unscrupulous way to make money in our opinion.

So, is there any other EA:s out there that consistently generate profits except from FAP Turbo and Megadroid?

Well, there are 3 robots that we now are testing on the EA Test account (Alpari Uk): http://eatest.mt4stats.com/

Forex Conqueror
This one trades EURUSD and USDJPY. In backtesting USDJPY is performing better than EURUSD. We will run this EA for a few weeks and see what happens.

Xtreme EURGBP and Xtreme EURCHF
These EA:s are scalpers like FAP Turbo. Xtreme EURCHF seem very profitable at the moment. EURGBP have been very profitable, but all scalpers seem to struggle with EURGBP at the moment. These two EA.s seem to be among the more profitable out there at the moment and could be worthwhile considering. Demo testing will give us an indication in a few weeks.

Dragonpips
This one can be run on EURUSD, GBPUSD, EURCHF and EURGBP. Its another scalper, but our backtesting shows very very good results, especially on EURGBP which exploded 10000 to 871460 with only 4 months trading, Jan-April 2009. And this is not even the pair it was built for in the first place. Drawdown here was 38% and profit factor and winrate about 95%. On Alpari, it “only” made about 70% for the same period. The fact that it can be used on several different pairs (while keeping settings unchanged) indicates that it has a very robust trading algorithm.

Here is our backtest on EURGBP, running it from 2009.01.01 to 2009.04.30 using FXOpen which is was optimized for:


Here is a statement from another user who has been running it in April:
http://duyduyfx.com/statement/demo/dragonpips090501a.zip

With the 90 day money back guarantee it is really risk free for anyone to try this EA. If it does not perform, its just to claim back the money.

We hope to be able to recommend you in a couple of months to put this one on live account, but lets see how thing pans out!

FAP Turbo Guide Team

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Upplagd av FAP Turbo Guide Team på FAP Turbo Guide - getting the most of automated forex trading den 5/09/2009 02:13:00 em

[FAP Turbo Guide Team]

Here is our backtest on EURGBP, running it from 2009.01.01 to 2009.04.30 using FXOpen which is was optimized for:

Here is a statement from another user who has been running it in April:

With the 90 day money back guarantee it is really risk free for anyone to try this EA. If it does not perform, its just to claim back the money.

We hope to be able to recommend you in a couple of months to put this one on live account, but lets see how thing pans out!

FAP Turbo Guide Team