***** million dollar pips review ***** Click Here ******

A new robot is on the market – Million Dollar Pips Review and when I got contacted to review the robot, I instantly got pulled off by the name. I simply thought that this is another rubbish, not even worth to consider it, imagine writing a review and even worse demo trade it.

Curiosity killed the cat, and I thought – “I am sure that they have no live account on the sales page.” To my surprise there was a large live account and another thing got my attention – “small losses”. Wow a robot with small losses?? How can it be?

million dollar pips review – Small Stop Loss?

Yep! Analysing the statement found on FXBook, the robot stoploss is only a few pips, on average 7 to 9 pips. However the wins onaverae are also very close to 7 to 9 pips on average, so we may assume that we have 1 : 1 risk win ratio – which is cool.

For example taking some trades done today – 19th July 2011, we can see that there was a total of 9 trades for a total profit of today of 6.4 pips. Trades are only open for a couple of seconds or minutes so this is clearly a Scalper Robot – which to be honest I like. Of course this entails that we need a scalper friendly broker – which can be a problem for some of us.

All in all the EA looks to be a genuine product. So I have convinced myself to try this EA. I am going to purchase the EA tomorrow and will publish my results here. Stay tuned for more updates!

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Million Dollar Pips Review

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***** Pips 4 Idiots Official Site *****

pips-4-idiots

*** UPDATED – 8th December 2010 – NOT RECOMMENDED ****
As many of the regular readers of this blog know, I don’t write reviews on every EA that is released.  As you for sure know, between 2 – 5 new EAs are released every week.  Most, if not all are scams. They are free EAs rebranded and sold again with a different story line.

I happen to smell scams .  As for this week, another EA was released and the story line was that he was an ex broker, and he will revolutionise the Forex Industry, claiming that his new EA will make you $20,000 a month.  Evaluating his statement, the Ea trades with 1 Lot, hence this EA  makes 2000 pips a month.  1 pip trading with 1 Lot is equivalent to $10.

Speak to any trader, and claim that you make 2000 pips a month with an EA, and he will simply tell you – ‘Fuck Off’.  It is virtually impossible.  And you only make money when the market moves, if the market does not move, you will not make any money.

Anyway, but sometimes, rarely, new stuff are released which are worth your time.  Now I am talking on Pips 4 idiots, an EA to be released next week.

So why this EA caught my attention?

The claims are not exaggerated.  They are more realistic.  The guy is also giving away a free indicator Pips4IdiotIndicator which looks interesting.  I have not tried it yet since the market is closed right now, but will try it tomorrow and see how it works during market hours.

The indicator simple changes the colour of the bars to blue or red, and when it indicates blue, it means Buy, and when it turns Red, it means Sell.  I need to verify if the bars turn red or blue while the bar is still forming or at the end of the bar.  If the indicator signals buy / sell while the bar is still forming, just looking at some charts, the indicator seems profitable.  Will give it a try tomorrow.

Stop loss is only 20 pips which is great!

Forex 4 Idiots EA

There is little information so far on the EA, except that there are some statement and a video showing the trades taken b y the EA.

For sure, a lot more information will be released during this week.

I will keep updating this post when more information becomes available.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

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So, we’ve a new system Forex U Turn from Jason Sweezey endorsed by Vladimir Ribakov just launched.

Jason Sweezey is well known for the incredible system Forex Pip Snager and Vladimir Ribakov is nicely recognized for sRs Pattern Rider and The Forex Signals.

They’re for sure two among the few people that you’re in a position to trust within the foreign exchange company.

Forex U Turn Program – why I am wasting my time writing on it?
For sure you’ve heard the term – your pattern is your friend, so in other words usually open positions in the direction from the sample.

Should you believe about that phrase –‘ your trend is your friend’, you’ll discover 2 questions that needs to be answered.
1) When you’re sure that the trend has started
2) When the trend is going to finish

Those two questions could be asked in just 1 question – Where are we going to possess a pattern reversal? If we are able to predict when we possibly can have a reversal, we are in a position to either

1) Close any trades that we’ve open and reverse
2) Catch the pattern from the beginning

Something else, should you enter a trade in favour from the trend, it might occur that the pattern is about to end and reverse!

So what if we are able to predict with particular accuracy that a pattern is about to start or about to finish?
That’s what Forex U Turn is all about!

It’s manual trading program and is based on Price Action so this program will never gets old and will continue to work forever. That’s what I can say till now so not a lot information have been released so far.
For certain if we are able to predict trends reversals with precision as claimed, than that’s cool. I can already seen how I can integrate it with some of my trading systems that I use, including the 1 that I’m giving away in the event you subscribe to my newsletter – spam free.

I will buy the system on its release and I will give a lot much more info once it’s released.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

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Hi, Since my last update, I only traded the Morning Trade System twice for the simple reason that I got quite busy with at work and I couldn’t manage to wake up early. Well I lost couple of trades even with my other trading systems.

With my two trades, one trade finished break even and the other I closed the trade at 30 pips profits. Basically I closed the trade at a very strong resistance point (R2 Pivot Point) and that was my target when I opened the trade. The system suggest 40 pip profit, but there is no perfect system – do not search for it. For any system you must use other technical analysis techniques in between.

Notice how the price reversed at S3 Pivot Line. Pivots are well respected strong resistance / support lines so my exists are always at these levels – always. So when I opened the trade I knew that I was targeting for 30 pips instead of 40. Believe it or not, the price hit the S2 line and bounced back pretty fast. This is why I love pivots!

Anyway back to Forex Morning Trade. I did manual back testing since January 11th 2010 and here are the astounding results. I did not checked pivot points here. I just followed the system blindly – meaning obeying the rules with 40 pips profit target, 40 pips stop loss as suggested. I did not even took care of any major news releases which as you should know you need to stay out of the market.

If probably I have followed pivot levels and at least you where aware of any major news releases, probably I would have increased the profit, but I just followed the system rules to the letter like a complete newbie. However I did added a rule and it saved me some pips. When I am 30 pip profit I move my stop loss to break even. There were many trades that reach the 30-35 mark, run out of fuel and rally back. There are also trades that reached the 30 pip mark, reversed, I got stopped out at break even and then shoot up.

But moving the stop loss to break even when you reach 28 – 30 pips, is more safe and proved to save me some
pips. Later I will also tell you how I intend to trade the system live.

Results by following the system rules blindly with the exception that I move the stop loss to break even at 30 pip profit.

January from 11th 2010: 120 pips
February: 160
March: 280
April: 120
May: 80
June: 440
July: 160
August: 240

Total Pips: 1600 – AWESOME

The results where in no way manipulated. If I remember correctly but I stand to be corrected, April / May was when Europe was under spotlight with Greece serious financial crises. The system still came out in profit!

As you can see it is an awesome simple system with good results. Just try it since you have nothing to lose but gain $$$ instead.

How I intend to trade the system.
1) Follow system rules for entry
2) Open two trades of lets say 0.5 and 0.5 each or 1 lot if your broker supports scaling out – the lot size depends on your money management. Do not risk more than 2% per trade!
3) At 30 pips profit,
a. Close 1 trade at 30 pip profit or scale out half of your position if your broken supports scaling
b. For the remaining trade or the remaining half of the trade, move stop loss to breakeven
c. Also set a trailing stop of 35 pips on the the remaining trade or the remaining half of the trade

For point (3c) either use trailing stop or use pivot levels for your exist. This depends on your personal choice and your trading experience.

Some tips that may help you.
If the price is at S3 or R3 or near any of these pivot levels, do not use trailing stops but just close the whole trade at 30 pip profit or at S3 or R3 levels. The probability is that the price will reverse at S3 or R3 so you will lose your profit.

Do not just aim for 30 – 40 pips blindly although the system is profitable just the same. But I am sure that using some technical analysis knowledge you will increase the profit. So always stay on the look out for strong resistance / support lines like the daily trend lines, pivot points or anything you are familiar with.

Again do not enter a trade if you are close to strong resistance / support points. You know that price may reverse at these levels and this is a known fact in forex trading. It is the law so to speak that you do not enter a trade when a strong resistance / support is near. No trading system is above this law, so just stay out of the trade or instead take the reversal!

Also do not trade when major news releases that will affect the currency pair you are trading are due to be released that day or even at the time you are trading the system! Just remain asleep, it is not worth the risk.

HAPPY TRADING. Feel free to leave a comment if you need any help.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Forex Morning Trade Results Awesome

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Follow this link since I have a new post on results – Forex Morning Trade. Awesome Results.

Also with the system an EA is being given!

I just came across a manual trading system – Forex Morning Trading System and to be honest with you I am in love with such systems. Why? Let me tell you why.

Large moves happen in the morning – Europe
This is a well know fact that when Europe is waking up, large moves happen nearly every morning in the market namely in the GBP currency. Why? London is the largest trading exchange in Europe, but apart from London, there are also other strong economic countries like Germany and Switzerland. These start their working day in just around the same time (1 hour difference) so large financial institutions like banks, government, fund managers and large corporations effect their required transactions during this time. A lot more happens but this is just to give you an idea.

Furthermore, just before Europe wakes up the market is pretty slow since only Tokyo and Sydney are trading. During this time, volume is low since Europe is sleeping while the US market is about to close when Sydney opens its market. When Tokyo opens, the US is preparing to sleep and Europe is fast asleep.

So what happens is when Europe wakes up, it is like there is a spike in the market. Look at some of the following charts and see what I mean. You may also open your trading platform and see for yourself.

Forex-Morning-Trade

Forex-Morning-Trade

Notice how the price was slow during the night and then started to move strongly. The candles marked with the Purple Line is the 9.00AM Alpari UK Broker Time

How about we try and capture some profits during this time? In fact there are a number of trading strategies based on what I have just described. In fact I use one myself every single day, or when I manage to wake up so to speak.

False Moves
So we know the idea but the question is – in which direction will the market go? Up or Down or Sideways? Yes we make money if the market moves up or down. If it is going to stay sideways we will not make any money and we need to stay away, hence no trade.

And this is why there are a lot of trading systems based on this fundamental idea – the London Market. All try to find an accurate way of predicting where the market will go.

I have read a number of strategies and most of them are successful in the long run, and they will remain successful because we know why the markets behave this way. As long as Tokyo / Sydney do not change their trading time, these systems will remain profitable no doubt. Will Sydney / Tokyo change their trading time? No way if they don’t decide to trade during the night!

So, the key is to predict the direction of the market for at least the next few hours. There will be many false moves, you think that the market will go that way, it will go that way for 20 pips and then it changes direction in no time. This is where most systems fail.

Fake-Move

Notice how the price goes down and then moves up strongly for the rest of the day. The candle marked with the Purple Line is the 9.00AM Alpari UK Broker Time

Forex Morning Trade System
Yes I purchased the system as soon as it went out for sale, just a few hours ago. I am always intrigued about the way how the system triggers the entry signal to take the trade – that is how the system predicts to buy, sell or just stay away for today. Sometimes I ask for a refund just few minutes later. If the system is based on channels, trend lines or anything similar, these system gives you a lot of false moves.
By Forex Morning Trade I got impressed – honestly. It is a totally different approach. Where most systems are based on the 7.00AM – 9.00AM time period, this one is slightly different and it also used two indicators which I never thought of using.

Back Testing the System
I read through the manual, understood the system (it is quite easy to understand) and what’s next? Simply do some back testing! I opened my trading platform and tested the system through August 2010 which it wasn’t a good month to trade anyway.

The system came out with 160 pips profit as of today.

I didn’t try July because the results are in the book from 12th July to 23rd July, illustrated with chart proofs so you can confirm with your trading platform. I never saw this in any book that I have purchased. But in this book that comes with the system which is well written and well explained with ample examples and screen shots, you can compare and hence back test the system yourself.

The book explains why the trade was taken or not taken by explaining the system rules accordingly.
In this period (12th July to 23rd July) the system earned 200 pips from 10 trades. In fact it lost only one trade. 200 pips in 11 days is quite good indeed!

The system also survived the difficult month of August with a profit so far of 160 pips.

An indicator which tells you what to do!
The system is easy to implement, however that’s not all. The system also comes with an indicator that simply tells you when to Buy, Sell or Stay Out. So all you need to do is simply be on your computer at the right time explained in the system, see what the indicator is telling you and enter the trade.

Then set the recommended Stop losses and Profit Targets and you may as well go back to sleep or go to work.
It is that simple – trust me

Risk to Reward Ratio
Unlike many trading systems with large stop loss and small profit targets, the system comes in with 1 : 1 reward ratio. From the few testing which I have carried out, it proved to have a strike rate of over 75%. so it is definitely a winning system.

What’s in the System
The system comes with
• A free indicator which tells you Buy / Sell or Stay Out. Then you just enter the trade!
• MetaTrader 4 Template, just load into your platform and your indicators are set up.
If you use any other platform, just use the other two indicators listed in the manual and plug them into your trading platform.
• The manual well laid out and well written explains clearly the trading system with clear cut examples with dates so you can compare them to your trading platform charts.
• There is also a 60 days money back guarantee, so do not worry on refunds.

Highly Recommended
From my observation which is not mentioned in the book, I would highly recommend to stay away from the market when there are major trading news on the GBP. In fact in August two trades went bad because there where major news releases happening in the morning. If I was trading live, it would have been a no trade day for me.

Having said all this, I would highly recommend you buy the system and test it yourself.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Forex Morning Trade – It Works!

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I don’t really recommend anymore robots except for Megadroid but this new one Forex Supersonic caught my attention. It was released today and two things caught my attention.

1) I use a similar Trading System
It is based on German / London Breakout strategy even though it is not mentioned in the video. It is a well known fact that during 0am and 6am GMT (hence Europe night) things are quite because only Tokyo and Sydney markets are open. European at that time are sleeping, and Americans are about to sleep. So movement is very little. At 6am GMT people start waking up, 7am GMT German market opens and 1 hour later the monster London Market opens. When these two markets opens, you can expect huge moves up or down from the range traded in Tokyo / Sydney sessions.

There are many trading strategies based on these breakouts, and I use one myself based on pivots. The creator of Forex Supersonic released last week the trading strategy this new EA is based on, in other words how you can trade the system manually without the EA. The system is based on EMA and it is very interesting how some bad trades are filtered to reduce losses.

I make consistent money with my trading system based on pivots, and this one is very close. It doesn’t mean that I don’t have loosing trades, but at the end of the month I am always in profit.

Something else to add, avoid trading when major news will be released on that day that effect the GBP – the sterling.

2) Good Risk to Reward Ratio
This EA has a good risk to reward ratio. Stop loss is 15 pips and is very common to have such stop loss in trading systems based on the London breakout. Mine is actually 15 – 25 pips. Profit Target for the EA are set to 22 pips and a second trade for 75 pips. So the EA actually open two trades, where one is closed for 22 pips profit and the other is closed at 75 pip profit target.

You may argue that 15 pips is too tight for a stop loss where we normally use 35 pips. But remember that this is slightly different since we are trading a breakout for a tight range that was traded during the night. In the morning major companies, governments, banks etc. Will trade the currency so we should expect a move from the tight range. So it either moves in the direction that it has broken the range or nothing. So we don’t need a huge stop loss.

22 pips is a decent profit target. 75 pips I believe it is a bit too far, even though 100 [pip moves are frequent. There may be pivots in between, or strong resistance / support points so the 75 pip mark may not be reached every day. But you always close the trade myself.

So all in all the risk to reward ratio very good, the first robot I know with a valid risk to reward ratio.

Conclusion
This Ea is worth a try due to the above reasons and as I said I use my own trading system using pivots to trade ( when I manage to wake up) the London market, and it is very close to this. Still if it does not work just ask for a refund since it is sold from Clickbank which is quite reliable for handling refunds.

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Finally he is back, top trader Tom Strignano and now he joined forces with another forex guru Vladimir Ribakov.
Why I am so excited? I am indeed. Why?

Let me tell you why. You can be one of the following 3 people, if you are reading this post:
1) You are new to forex
2) You tried some robots, got disappointed or scammed, and realised that manual trading is the way to go
3) You know that robots do not work and want to learn how to trade property.

Now when I started in Forex Trading, I too got excited about robots even though (myself being software architect, I knew at the back of my mind that $99 robot can’t make you rich) I believed that at least I can pay at least the bills. I got disappointed many times, requested refunds every time, shattering my dreams at the same time.
Way too soon, I realised that making money in the markets is not that easy! That’s the reality indeed. I believed all the hype about trading systems and the way they were marketed by scrupulous internet marketers. I also bought $2000 learning course with 3 systems marketed to be profitable systems, again the systems failed.
In the meantime, I kept learning more and more and the more I learnt, the more I realised that it is possible to make money in the market if you have the following 3 things in place:
1) A box of successful trading strategies, profitable in the long run
2) Effective Money Management Technique
3) The correct mindset to trade – you should be able to control your emotions as regards to fear and greed and of course be disciplined (point 2)!
Experience and feel of the market do come into play, but the above are imperative.
I lacked skill. At that time I always thought that I need one profitable trading system and just apply it! I was deadly wrong. I was not able to interpret what the chart was telling me, so I was just applying my trading system blindly and hope that it goes in favour of me.
Luckily then, I came to know about Tom Strignano Signal Service (the old service) and that changed completely my way of trading – the blind way of trading.

Here is the way to look at a trade:
Once you identify an entry point for your trading system, first thing to do is to find a good point to place your stop loss. Too tight to your entry point, you may be stopped out soon. Too far away means you are risking a lot. So you need to find older resistance support / resistance lines, or just below / above trend lines, pivot points or TRN levels (more on these later). Furthermore I need to have a feasible risk to reward ratio. I will risk 30 pips to potentially earn 30, 60 or 90. There are many systems with 75 pips stop loss to earn 10 or 20 pips! Complete none sense.

After that, depending on our stop loss, we need to calculate the appropriate trading lot size (money management!) and then we need to find exit points. When are we going to exit the trade? Mind you, a profit of 10 pips when the trade went up by another 50 pips, that’s also lost money since you could have gained at least another 30-40 pips. So when are we going to exit? Again we try and go near support / resistance lines, or trend lines, pivot points or TRN levels or a head take has formed near a resistance points. Recommended approach is to have at least 1 profit target, once you reached that you close half of your position and then apply a trailing stop and let profit s run! This is where you make the real money!
If you are not understanding anything of the above, apologies, but that’s the real trading guys. Forget the bullshit you read outside – you may argue that this is also bullshit, but this is real trading. This is what top gurus and successful traders use day in day out to make money every day in the markets (if the market moves!).

I learnt the above and much more simply from Tom Strignano.

Something else, forex is a game of numbers and you have different levels of players. Some people think that the currency pair will go up, while at the same time, others will think that the market will go down. So money is exchanged and depending on the buying or selling pressure the market moves up or down. And who are the players? There are us with maybe $1000, $5000, $10000 accounts, then there are others with larger accounts (experienced successful traders) and of course there are the chief traders, large institutions, fund managers, brokers and banks!
Who moves the market up and down? Banks and there alleys! Do you think banks have a $1000 account? And these guys are after your money the end of the day! This is one way for them to make money! So you have two options – you either be an alley with the banks and their friends or be on your own with your little trading system borrowed from a friend, or from a forum trying to make some pips a day. Even worse with a robot! Where would you prefer to be? With the banks of course! But how can I become their alley? Simple – trade the way they trade! Yea – how? Join Strignano Vladimer signal service and learn how to trade like a pro, and be an alley with the banks during the daily war that happens every day in the forex market!

So again, why I am excited that Tom is again re launching his signal service?
1) I learnt a lot while I was a happy customer of his old signal service. I learnt how to look at the market from a different perspective – the way I explained briefly above – re read again if needs be! That’s how you can make money!
2) I learnt an amazing set of strategies to properly identify entry / exit points.
3) I learnt how to use Pivot Points – used by Banks and their alleys daily!
4) I learnt how NOT to use lagging indicators like MACD, Average True Range etc that tell me what happened in the past – I want to know the future – Pivot Points and TRNs! I want to know where the market is probably to turn around and not where it turned around! Why? So I know where to place my profit targets and I get more pips in my trade!
And lots more…
Notice that I only mentioned LEARN! There was twice a week webminars teaching you how to trade like a pro. I am not a pro, mind you, but I learnt a lot and lot. And eager to learn more – this is why I am so excited that it is going to open again.

So what about signals etc.? Tom Signals are great and profitable if you follow the rules by the letter. However you need to be flexible enough to change strategy if the market has changed in the mean time – you need to learn how to properly manage the trade! And you need to watch and manage the trade as it is developing. It is more of an intra day trading strategies based most of the time on trend line breakouts. So once a signal is out – you need to have the time and manage the trade because you will have 6 profit targets, stop loss and market exhaustion point. Looks complicated? Is not believe me. But you will also learn how to trade within channels, within trend lines and other amazing systems like the head take system, and the magic lines – TRNs!

TRNs
So ever wondered why the market was moving up fast – and for some reason it turned around? Most probably because it has hit a TRN level! These are propriety levels developed by Tom himself during his career and these levels are used by the banks and their alleys. Trust me-these are very very accurate. I saw trades where the price hits exactly the TRN level to the pip and turned around straight away. Most of the times, it hits the TRN, tries to break through the TRN, and turns again around. Or you will feel that the TRN is not going to hold hence the trend is going to continue hence you will trade against the TRN in this case. You will learn how to trade these powerful levels when you join the service. I only used to trade these TRNs while I was a member because with my full time job I can’t watch the market all the time. So I used to trade only TRNs and was very very very successful. This is why I am happy that Tom is re launching the service – my lovely TRNs are back!
So look how all this makes sense. If you have a trading strategy and at this point in time a trading setup has formed to go long (buy). If you know nothing of the above, you will just buy the currency blindly. BUT if you know All the above and you know how to read the charts, and how to look for resistance / support lines, how to draw proper trend lines, know where Pivot Points are (mind you, pivot points supplied by Tom part of the service are more accurate than the once you find for free on the internet), a head take has formed or you are close to the TRN, will you buy the currency? You will probably wait to see what will be the price action at any of the levels mentioned above. If the price is near the TRN, I will probably go short instead (sell) and if a Head Take has formed I WILL definitely go short while you are long! And then you wondered why a perfect trade setup has not worked out! I knew about the TRN Level – so I had this insider information since I am an alley of the banks and I am after your money. So become my alley too – join now!
From what I saw in the video, it seems Vladimir system is long term strategy and hence it is ideal for those people like me that do not have the time during the day to stay in front of the computer all day long. And this is a big plus too! He seems a nice guy too.

So you may ask -since I traded only TRNs I stopped trading? To be honest yes. First I was busy and couldn’t follow the market – and I am very stupid since Eur has really weakened since January! BUT the same principles I learnt from Tom, I have successfully applied them in the stock market and was very successful indeed – following major shares, not the penny shares just to be accurate like Apple, HSBC, Barclays and similar shares. The stock market moves so slow compared to forex market and gives me enough time to review the charts daily. But since now TRNs are back I will be back to the forex market!

Phew, this article came to long. I do recommend Strignano Vladimir. It looks even better now. BUT this is not a quick rich systems. You need to learn, you need to have the commitment to learn since trading is not easy as 99% of internet marketers claim to be. It is very hard and you need to be on their side. Being with Strignano and Vladimir puts you at edge over the other traders!

Trust me.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Strignano Vladimir Signal Service

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Fibonacci Strike System - Amazing

More and more I get involved into manual trading, the more I convince myself that EAs will not make you $1, except for Robominer, but that EA is completely different from the rest.

Trading with Pivot Points / Fibonacci Levels / Trend Lines and with no other lagging indicators is the way to go in trading – no doubt. And if you are part of the Tom Strignano Signal Service you also have the powerful, incredible TRN levels.

Tom just released another video where he gives a great tip about core positioning. From the video you can also see how this system can be applied to pivot levels. This is part of the Sette Ponte system he will be releasing soon, but even if you don’t buy the system, you can’t stay away from this cool tip.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Another Cool Trading Tip from Tom Strignano Setti Ponti

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I have requested refund of this crap robot – Forex Decimator.

In our demo account, as you can see in our statement page – Forex Decimator Statement, the robot made a loss of -$351.09, leaving the account balance to $197.49 from $500 startup demo account.

the robot failed miserably to meet its expectation.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Forex Decimator Refund Requested

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Well, we all know that crap robots are out every week, and most of them come from the same internet marketers that have no clue what Forex Trading is.

What I was wondering lately is – why these scrupulous people keep on releasing useless robots every week? Of course to earn easy money. But on the other hand, people who bought the robots, will test it, see that it does not work and ask for a refund.

So apparently there are so many dumb people that do not ask for refunds! Since if all people that have purchased the useless robot claim for refund, the internet marketer will loose money.

What’s your view on this? Why so many dumb people around then?

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Do ALL people claim refunds on EAs?

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Another robot that failed the trial is Forex Decimator. I decided not to trial / test these shit of EAs anymore since at the end of the day you can easy tell from there sales page that they are talking bullshit. I am so stupid enough to buy and test them with the aim to help people like you not to get scammed with the crap these scrupulous internet marketers are selling.

The problem is that I may get now banned from Clickbank due to these bastards Yes I am a bit angry – sorry.

I am writing a small ebook of what to look for at these crap sales pages of these rubbish robots so as it will help you stay away from them.

But ForexEAs will continue of course…Why? Since we will be trailing / testing other robots / services which are normally more expensive and with more probability of success. These robots are not usually reviewed anywhere else for the simple reason that they are expensive to buy.

Some people are short sighted in the sense that their reasoning simply falls within this line – “Its $500, too expensive, or its $400 a month too expensive.” What they don’t realize is that the probability of this robot working is much higher, and if I pay $400 service / robots and returns at least 500 pips a month, thats basically a goldmine! But people think that a $99 will make them millions – it is just a dream.

Anyway, keep following my quest to find robots / service that work and are honest!

Good Trading

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Won’t Test Anymore the Cheap Crap Robots

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My Podcast Alley feed! {pca-68b5dad4aec44f312ef87e11e071ef88}

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

PODCAST ALLEY

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I was browsing a forum and found this interesting post…

Basically an MT4 developer is willing to create robots for $50.  Yes thats how much a robot cost.  Thats how much these crap $99 robots costs to its creator, who is simply after your money.   Those kind of robots that show fake results and modified back tests as I have already said this thing in the Forex Bling Review here.

Of course  not all robots cost $50, the few once that delivers results will cost more.  Furthermore I am not at all blaming the robots developers since he will do what the scrupulous affiliate marketer ask him to do.

See Link Below:

http://exchangemoneyforum.com/showthread.php?t=26139

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

How Much Crap Robots Cost to the Creator?

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Yes another robot was released today, but I am not going to test it. I have not watched the videos or analysed the landing page. I got to know about this robot from the same affiliate marketer that has been selling robots every week. This is the 4th robot this month!

He sent me the emails about the following robots-

So is not my fault that I don’t trust this guy anymore.  I keep him in the list so as I know what robots are coming out

But I am going to introduce you to this new robot, which I have beta tested for a week – givin tome by the creater itself - Yohanes R. Gagahlin.

Watch this post for a full review – Forex Bling

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Forex Typhoon – another new robot.

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A new robot was released today 1st September 2009 – Forex Supernatural.

I love all these robot names coming out lately – Forex Decimator, Forex Accumulator etc etc.

This robot again is claiming to make $10630 PER DAY! WOW! Lets get a copy now, and I will quit my day job tomorrow

The landing page is very simple, just a video explaining forex, and not explaining what the robot does!  Funny enough the guy compares the robot similar to a robot on a car assembly line.  In what way they are similar?  I can’t understand.

Car Assembly Robot is programmed to do step 1, step 2 and step 3, in sequence, one after each other WITHOUT EXCEPTIONS, WITHOUT OUTSIDE INFLUENCES that effect the assembly line.  If even something small effect the operating environent, the robot stops working.

Forex market have large influences from so many things…

So how can you compare them?

At some point the guy also mentions that one trade made $18051.97 in one trade while at the beach.  OK, you can make such profit REALISTICALLY only if you are in a trade that made you 180 Pips but you need to have been trading with 10 lots, meaning you need to have $10,000,000 account.   Why? Because professional traders trade with just 1% of your equity per trade, so if this robot is a friend to your account it should NOT exceed 5% MAX per trade in your account.  Do the maths since maybe I have am extra 0 or missing 0.  But you got the idea.

Then I stopped watching the video – this is the biggest lie you can say to a newbie.  And from the video unfortunately they are after these innocent people – beware.

Furthermore, I got to know about this robot from an affiliate marketer whom he is selling a robot every week, in this blog we are testing one of them, and soon this guy is going to be blacklisted if he continues to send this kind of crap emails.  I had to rewrite this sentence 10 times since I ended up cursing!  I really get angry at this kind of people.

P.S. With a 60-day guarantee and the ability to use a demo account  to test Forex Supernatural before you use a penny of your real  money, there’s ZERO risk to you to try this. Why not give it a spin, Jason? What do have to lose?

You why I starting to hate this guy? He is saying 60 days guarantee, where they say is 30 days!

It cost $97.00.  It has 30 day money back guarantee but it is not through Clickbank, so it did not pass my initial criteria to merit a trial.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

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After a week sleeping, IVYBot woke up this morning with a profitable trade in USD/JPY Pair. It made the usual profit of $8.83 on 0.1 lot.

Some friends told me that on FXDD broker there was another profitable trade in USD/CHF pair, but on Alpari it missed the trade.

In two weeks we will decide whether IVYBot is worth our time, and your money, since now it is getting close to the 2 months – to claim back my refund. I am not that much impressed to be honest, so probably will claim my refund.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

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The long awaited update for 5 digit broker friendly is out today. I have already installed the new version of course, so don’t forget yours There were also some improvements as per their email below.

IVYBot have been sleeping apparently since we had no trades yet this week.

IVYBot Member’s Email:

As a valued IvyBot Member you will receive updates as more efficent
IvyBot versions are released.

We are pleased to announce that Ivybot 5.0 is now available for you
to download from the Ivybot Member’s login page.

——————–
New Updates:
——————–

* Full 5 Digit Compatibility
* Manual Magic Number Entry
* Improved Synergy with all MetaTrader 4 Platforms
* Updated Trading Settings

At IvyBot we strive to continue our reputation as the #1 trading
system.

Our Next version 5.1 (Currently still in beta testing) will include
some of the following features:

* Risk Management Function to adjust lot size based on your current
account balance

* Adjusted Equity protection algorithm

For our next trade…

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

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The main purpose of this blog is basically to expose those

1. Forex Robots THAT WORK. Deliver constant profits month after  month.
2. Forex Services THAT WORK.
3. Forex Quality Training THAT IS WRITTEN BY A REAL FOREX TRADER AND NOT BY AN INTERNET MARKETER.
4. …and much much more.

The main idea is to reduce scams and only purchase quality products worth your money and time. Yes there are serious companies and products out there, is just there is so much rubbish, that they are hard to find! The funny thing is that the crap is more popular than the serious products!  The crap is affordable, hence it is sold more, hence you are bombarded by those internet  marketers emails that are simply after your hard earned cash  money.  Whats more – they give you useless bonuses full 0f crap systems, outdated useless information, wasting you more time in reading such crap ebooks.

Of course I will review robots. those that price range from $97 – $147,  but only those purchased through Clickbank so I claim my refund.  Robots within this price range are normally crap.  I will also select those robots that their creater is not yet in my black list.  Why? If they have released one crap robot claiming millions in return amd failed, why do I need to trust them again? They are not worth  my time and yours – trust me.

So are there any quality products or services?

As I said, there are and you can make easy money with them.  Most often they are not cheap, but if their return of investment is worth my time, yes you should be an idiot not to pay more for a quality product or service.

Right now I am evaluating a signal service that looks pretty good.  I have another signal service which is completely automated, its live in my account and is producing pips after pips. It is not effective as the first signal service, but doing nothing and see your account grow is worth the time and money. And yes there is a robot that in the last 2 days, produced 120 pips in just 3 trades . Yes it is not an $97 robot, it is much more expensive. And there is another robot coming out very soon which I am beta testing right now, and it is amazing. Again it will not be cheap.

So follow along and when it is the right time,  Iwill post everything here.

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

Any Quality Forex Product or Service Out There?

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I am setting up the robots in different accounts (some live and some demos so far) and we will compare their results in the long run.  Each account will be $500, and of course what we are after is

• the ROI of the robot  - how much money it made
• drawdown – this is most important factor to measure

During the trial of each robot we will measure its capabilities as regards money management, that is,  how much money the robot is risking per trade.

The following robots will be on trial

• Forex Megadroid – live on Alpari – RECOMMENDED
• Forex Decimator – demo on Alpari
• IVYBot – demo on Alpari. Was live last week, but I am not confident on its stop loss
• Robominor – soon going live on Alpari – RECOMMENDED
• FAP Turbo – live on Alpari

Other robots will be added soon, the one which is interesting is PipsLeader.  Other robots I know that are coming out and I will selectively select few of thm for trial.  If you have a robot that you know is worth our time, please let me know.

I am also testing and  have live accounts on some signal services company, forex managed accounts and others in which I will post their performance as well later on.

So keep tuned.

photo credit: matsubokkuri

This post is from: Forex EA Honest Reviews on robots, signal services, forex courses and much more!

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