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Forex-CyberTrade.com

Discussion in 'Forex Software' started by Administrator, Mar 18, 2011.

  1. Administrator

    Administrator Just Administrator :-)

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  2. iolaida

    iolaida Recruit

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    The Forex-Cyber Trade EA Made Me Money!

    I see that the Forex-Cyber Trade is going through a performance test right now - which is good because more people will learn about this great EA.

    I have tried a lot of EA's over the years, but this one has worked really well for me, and I think I will soon recover the profits that I have lost on other EA's.

    If you are curious about the Forex-Cyber Trade EA now is the time to try it out because they have a promotion where your can get the latest v.27 version for free.

    I have not heard a lot of comments here, but hopefully we will see more soon.

    Happy Pipin!
     
  3. RahmanSL

    RahmanSL Major

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    iolaida, I am NOT being cynical nor on the offensive here, but is trying to get an understanding of trading forex using EA/Robots etc.
    I want to understand what it is that makes trading with use of EA/Robot so attractive?

    As I have also posted in another thread (TulipFx.com) here at the FPA, I would highly appreciate answers to the following:

    1) Why do Traders use EA/Robot to trade forex?
    2) Is it really that profitable to use for forex trading?
    3) As an example, how much initial capital is required in order to justify running an EA/Robot?
    4) And from that initial deposit, how much can the EA/Robot be expected to make per week/month/year?

    Best regards!
     
  4. f-man

    f-man 4Xangels Representative

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    Hi Rahman,

    I can understand your point, that you can not really understand the reasons that some traders use EAs. Let me give you some answers:

    1. Many traders are not sure when to enter a trade and find it very difficult to pull the trigger.
    2. Some EAs show good results. Have a look at the performance test here at FPA.
    3. EAs cost around $100. As this can not be considered "huge" investment, people could pay this $100 to buy an EA and open an account with $250 and pray that it grows.
    4. As per FPA performance test, the most successful EAs make around 10% per week

    All these sound good, but personally I wouldn't let an EA trade my account without my interference.
    My personal experience showed me, that an EA can become very dangerous.
     
  5. iolaida

    iolaida Recruit

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    Hello Rahman,

    What makes the forex-cybertrade unique from other EA's is that it is sensitive to market conditions.

    This is what make it almost like manual trading.

    A good number is $2,000, but you can start with as little as $300 if your broker does not require a larger deposit.

    Be sure to use an appropriate lot size for your deposit amount. Don't over margin your account - this is important for any type of trading.

    Please let me know if I can answer any other questions.
     
  6. vicaas

    vicaas Private

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    Dear Fellow Traders,

    Purchased this $1000 EA some time back hoping that it will make some good money and ran it on my real account of over $ 10000.

    1. The first shock I got was when I read the poorly designed manual of instruction. The manual said that the EA had been optimised for somewhere around the last quarater of 2010. I wonder why they are selling it in 2011, if they haven't optimised it for 2011.
    2. I had to put forward several queries before I could understand how to use the EA. The manual is not user friendly. I suspect that the developer is not some company but a german computer expert trying to sell his EA on the net posing as a professional company. But I am not sure...whatever...
    3. The EA is a heavy martingale system that gives you quick profits and then blows out your account when you least expect it. The system it follows is very simple - open buy and sell trade simultaneously and then if the price goes in a particular direction, the EA keeps increasing the lot size hoping that the price reverses. If the price does reverse, it will make a profit on the increased size. If the price does NOT reverse, it will simply keep on increasing the lot size till you end into a huge drawdown and are either forced to take a loss by manually closing the positions, or the EA will itself do it. The proof is there on the demo account trades on FPA website. The developer himself agreed that he lost 7% of his own account in a single day.
    4. I experienced this type of drawdown twice and decided to ask for a refund. The developer made me wait for some time and then refused a refund citing flimsy reasons. For a $ 1000 EA, it is very dangerous martingale style EA and is definitely not worth putting your hard earned money into. You can probably play in a casino and have more fun. My advice, please stay away from this crappy EA if you want to keep your money safe.

    regards

    Vicaas
     
  7. reviewerlady

    reviewerlady Private, 1st Class

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    Its all about the money... We have to keep our money safe. We work hard for it, so think carefully about what you do with it.
     

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