Whats with all these new Robots

Domenic

Recruit
Messages
2
I've been getting emails from the same sites and they keep pushing all these new forex robots. What are they, just advertizers. How do we know which robot is really legitimate and works as well as they claim. I've heard good and bad reports on Fabturbo then they came out with the Fab Evolution. I've heard good reports on Megadroid. Where can I get real truthful information on these Forex EA Robots. Does anyone know someone I can talk to who isn't trying to pitch one of these products. I'm interested but I don't want to get my portfolio wiped out like so many have.
 

Jason Rogers

FXCM Representative
Messages
510
I've been getting emails from the same sites and they keep pushing all these new forex robots. What are they, just advertizers. How do we know which robot is really legitimate and works as well as they claim. I've heard good and bad reports on Fabturbo then they came out with the Fab Evolution. I've heard good reports on Megadroid. Where can I get real truthful information on these Forex EA Robots. Does anyone know someone I can talk to who isn't trying to pitch one of these products. I'm interested but I don't want to get my portfolio wiped out like so many have.
With all of the new robots, it would be nice to find an independent evaluation site. Maybe if someone is running it on MT4 and has their account connected to MT Stats to share.
 

ernest8fingers

Master Sergeant
Messages
488
lol

With all of the new robots, it would be nice to find an independent evaluation site. Maybe if someone is running it on MT4 and has their account connected to MT Stats to share.
Hey u guys-this forum has that exact thread- at the top of any FPA page you will see ( PERFORMANCE TEST/Expert Advisor test) just click on that and start to absorb the data-or wait for longer testing period. Remember though, Forex landscape will change in USA after 8-1-09. I no longer support ANY US Broker that conforms to NFA regulations and only code EAs for offshore Brokers. And above all-dont give away heavy money for any EA . A few hundred dollars at most with a proven track record-( I mean a record of NOT destroying your account over time which is what many EAs seem to do).Remeber this:If they worked as well as their hype,you and I would not have access to them. I do trade with an EA but this program spends more time OFF than ON. Good luck and happy hunting !:)
 

Pharaoh

Colonel
Messages
19,708
Some of them are a little different. FapTurbo Evolution is more like FapTurbo Mutation. It doesn't run on MT4, so it's not technically an EA. I don;t have a spare $10k for a Dukascopy account laying around, so I'll have to take other people's word about how well it really works.

I've got a feeling it's the start of a wave of non-MT4 bots. :eek:oh:

As for the NFA insanity, some EAs will continue to work on most US brokers - if the EA doesn't hedge and only has 1 order open on one pair at a time. Different brokers are taking different approaches to the hedging and FIFO issues, so some EAs may work properly on one US broker and not run right on another.

Strap in tight. Just when we thought we had this all figured out, things are changing again.
 
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