Nowadays, Forex Robots have been gaining a lot of, well deserved, popularity due to their amazing performance and ability to generate profits without the intervention of a human beings. The problem is that not anyone who invests in Forex market is willing to give a robot such great responsibility and authority over the managing of their money, as well as there are others who doesn’t believe a robot can trade that well to really generate a significant income.
There’s also another problem and is that not everybody has the enough knowledge about Forex to trade in the FX market but still want to do it and learn, and here is where the problems begin, people start trading on their own without any help or tutoring, choosing any broker without knowing anything about it, accepting every single offer people make to them who claim to know the way of making money in the FX market and start losing money.
The solution for these types of people are only two: start reading a lot, going to courses and ask for tutoring or start using Forex Signals. Forex Signals are some sort of trading alerts provided by some companies at a determined cost. These alerts tell the client when to buy or sell a currency pair and how much money to put in the trade. The signals are sent usually from 15 to 5 minutes before the trade happens via E-mail or SMS to give the client time to get in the computer and log in the broker account. The best thing about signals is that they’re more like tips, the client gets advised and is up to him to follow or not the signal, and if he do follow, he can instantly see if the alert worked or not because he’s the one in charge of opening and closing the orders.
As a last thing, I would like to recommend all these people to start using Forex Automoney Signals, these are the best signals I’ve tried so far. You can choose whether you want to receive signals weekly, daily or several in the same day. You can also choose how many signals you want to receive in each of these 3 strategies (up to 10). And that’s it. Here’s an example of how a Forex Automoney Signal looks like:
Type of Trade: BUY
Time to Enter: 11:00 PM EST
Get Profit: 34 Pips
The only thing you have to do is wait for the signal, read the signal, and execute the trade at the specified time.
Forex Megadroid is a new robot that was launched on March 28 of 2009. The curious thing about this robot is that the creators and developers have been using the robot for a long time without having published it until now. This is a very interesting thing to consider since every robot that’s in the market these days was created and immediately published. It seems that the Forex Megadroid‘s creators have managed to solve the failure of all previous robots, and that is, have real and long tests of their software to back up what they’re saying instead of just publishing it the day after they created it without even taking at least 1 year to test it, and that’s why they used the robot for only themselves for about 9 years (since 2001) and backed all these results to come to the conclusion that their robot really works.
Another very interesting thing is that this robot can be used in EVERY BROKER without being detected. The robot was created to be like a trojan. There’s no need to find a broker that allows an specific platform or the use of robots in order to use this one, the robot will adapt to the broker platform and trade like is a human the one that’s trading. This is probably the most amazing thing with Forex Robots so far, since every robot to the date has to use an specific platform like Metatrader 4 in order to be use, and that becomes a huge disadvantage to FX traders because they lose the freedom to choose any broker they like and have to adapt to the broker’s characteristics that provides this platform, such as account sizes, leverage and spread rates, among other things, taking away from them the posibility to win more or play a little more with their investments. The market becomes more mechanical than strategic.
The last thing about Forex Megadroid, and a very important one, is that it can trade even when the market has high volatility unlike robots like FAP Turbo or PipZu which won’t trade on these conditions. The obvious consequences of this are that on these days of high volatility, mostly fridays, is when FX Traders make the highest profits they can make in a week, since the spread rates boost. This feature makes Forex Megadroid overcome other robots because the probabilities of generating profit boost to heaven.
As a closure let’s make a quick comparison of the best two robots until now: FAP Turbo and Forex Megadroid.
- Both offer 60 days refund.
- Both provide tutorials
- Both provide phone and online support 24/7.
- Forex Megadroid offers a 95,82% winning rate, while FAP Turbo offers 95,9% winning rate.
- FAP Turbo offers VPS (Virtual Private Server) service.
- Forex Megadroid is the only robot that can trade on high volatility conditions.
- Forex Megadroid is the only robot that can trade on every broker without being detected.
- Product prices:
Forex Megadroid is so far, one of the best robots on the market and since is has a 60 days refund policy it’s a must to try this robot.
Fap turbo and Forex Megadroid Comparison
The first question that pops up when talking about Forex Brokers is,
What is a Forex Broker?
A Forex Broker is an individual or company who buys or sells orders according the investor’s decisions, just like a Stock Broker, with the difference that the last one buy or sell stocks while the FX Broker does the trading with currencies. Brokers have to be associated with a bank or financial entity in order to provide sufficient funds to investors. In Short, brokers act as intermediaries in negotiating exchange of currencies, making all buy/sell transactions through the Forex Market.
Choosing a Forex Broker is probably the most important step when investing in the FX Market, this can make the difference between generating profits or not, and it could be a bit tedious. The reason of this, is that there are lots of Brokers offering different options and facilities to get people to invest with them. So, after encountering this important step, another question comes to mind:
How do I know which Forex Broker I have to choose?
There are many parameters that affect when the time has come to choose which broker is the best to invest with, based on what the investor needs. These parameters are:
Pip or Percentage in points: this represent the value of the last significant digit place in a currency quote, in other words, is the smallest amount by which the value of a currency can change. It’s generally the fourth decimal place. For example, the exchange rate of EUR/GBP is currently at 1.0095 and then the exchange rate changes to 1.0098, this means that pair did a 3 pips movement.
Spread Rate: this represents the difference between the bid price and the ask price, which is the cost of the trade, or the trader’s commission. For example, if the bid price of USD/CHF is 1.1270 and the ask price is 1.1273 then the pair has a spread of 3 pips.
Leverage: this represents the investment ratio to actual value. Leverage is also the use of debt to support an investment; it is used with the purpose of magnifying the potential positive or negative outcome. For example, a broker that offers a leverage of 200:1 means that for every dollar you invest you will have 200 dollars in Forex Market to trade.
Account size: this represent the minimum investment to create an account in a given broker. For example, a broker could offer a 500 USD$ mini account size. This means that the minimum investment for this broker is of 500 USD$.
Two last extra parameters that have to be taken into account area the reliability and transparency of the broker, meaning if the broker performs the asked tasks or trades and provides currencies information at right time with no delay.
So now, knowing the most important stuffs about brokers, the only thing left to do is practice. A very, very important, probably the most important of all things about Forex Brokers for me is,
Does this broker offers Demo Accounts?
This is probably the first question you have to do to yourself before hiring a broker. Even if you’re not a newbie, testing the parameters and options of a broker first is the most important thing to do. Not every broker suits well to your strategies and needs, and if you’re using Forex Robots, not every broker supports them and they don’t work at their best performance with all of them.
So if you’re planning to hire a broker and use a robot with it, here are the most common parameters you should be looking for (this parameters are optimized for FAP Turbo):
MetaTrader 4 platform capability.
Demo Account capability
Small minimum account sizes.
High leverage.
Spread rate:
- EUR/USD – 2 or 3 pips
- USD/CAD – from 3 to 5 pips
- EUR/CHF – from 3 to 5 pips
- GBP/CHF – 7 pips
- EUR/GBP – from 2 to 5 pips
To finish, I will leave a link to a website that has some of the best brokers and their information listed on it: Forex Brokers.
Want to take advantage of the financial crisis?
Nowadays, Forex Robots have been center of discussion and controversy, people are always stuck in the same questions: Do they really work? How can a robot make a man’s job? Will a robot be able to do a human job as well as we do?. In most areas the answer could be, no, robots can’t run a company, robots can’t interact well with people, can’t sing, cook, act or take decisions, among other things, but what robots can do, and probably even better than humans, is statistics and mathematics, and that’s what Forex market is all about.
The movements on this market are represented in charts and digits, and that’s what people analyze in order to make a good trade, they base their judgment, about buying or selling, on what happened and what could happen. This is also called trend following. This is more or less what an investor does when trading on Forex market: he chooses a chart to analyze, for example USD/EUR currency exchange chart, follows its trend, draw conclusions from it and based on his judgment makes a trade at an specific time in which he thinks he could buy that currency on its lowest price, then he redo the process, but this time, trying to sell the currency he just bought at a higher price at which he bought it to generate a profit.
That’s what a Forex market investor would basically do when trading, but obviously, influenced by his experience. Now, the question is: What would a robot do?, a robot would do the same analysis that the Forex market investor did, it would gather all the chart information and all the numbers, it would follow the trends and it would do the trade, but with some really important differences: it would do it faster, it would do it more accurately, but most important, it would do it based merely on numbers, not on emotions or guesses of what could happen, just numbers.
People get so frustrated when they buy a robot just because they see a loss in their accounts, let me tell you something, if you’re one of these persons, you are just looking it in a wrong way, if you think Forex market can be beaten you couldn’t be more wrong. Forex market along with the Stock market are the most volatile and unpredictable markets in the whole world, there’s no mathematic function nor theory that defines their behavior, this is because these markets behavior is based on what people think, and nobody could ever predict what somebody will think or do, and so no one can ever predict Forex and Stock market behaviors.
The principal rule to know about this market is that you’ll lose money, you can win a lot of money but there will always be a loss attached to it, it may not be as high as the profit but it will exist, and thats what you have to bear in mind.
Returning to the first idea, not even the most successful Forex market investor can trade in this market without losing, and nor robots can. So, considering robots as a way of trading and investing on this market isn’t a bad idea, on the contrary, it may be very helpful, as robots can be trading all they long and we can’t, they can also be configured to our needs, and maybe robots can’t do the job as well as we can but they can certainly bring us some decent and constant profits, and obviously some losses.
To conclude this review, I would like to make a last note and recommendation: FX robots can be used in so many ways, they can be used as a guide, as an income generator and also as a teacher, there are lots of things that people can learn from these robots. My personal recommendation is:
Get a Forex Robot, not just any robot, a really good one.
FAP Turbo works on two methods or strategies:
These strategies have their own designed timeframe and currencies which means that they were created to work with specific currency pairs and specific time to generate trades. Only one strategy can be used in a FX Market Chart, but the two of these strategies can be used at the same time in the same account, just in a different chart.
The success or failure on both strategies lies in the configuration given to them. Some settings will alter on greater or lesser extent the performance of the robot, and with this, the profits or losses generated. The critical factor that can make FAP Turbo users win or lose lots of money is the Lot Size and the values given to it, this value represents the amount of money used for a trade based on the total actual amount of money in the account. The bigger this value is the bigger the risk becomes.
The better and safest way to know what value to assign to this setting is to try first on a Demo Account with the amount of money that will be used later on the real one. Another way is to use the Autolot parameter, which will automatically set the value that the robot considers best suitable for trading. Commonly, the value assigned to this setting is around the 0.005-0.05% of the total amount of money in the account.
On the other hand, there are other important settings, not as important as Lot Size, which also affect in a deep way the robot performance, these are more specifics of each strategy and can make an user win as they can make him lose high quantities of money. I will overview these settings by strategy, as they are highly detailed on the FAP Turbo Guide when the robot is purchased.
Short Term Scalper Strategy Settings:
This mode generates around 1 to 5 daily trades when the market is stable. Fridays are days of high volatility, so these days the robot probably won’t generate trades. This strategy can work with EURGBP, EURCHF, GBPCHF and USDCAD currency pairs, with the EURGBP being the most profitable, on M15 timeframe or also called, 15 minutes timeframe.
With this strategy there are some critical parameters which have to be taken care of, these parameters are:
- GMT Offset: It defines the offset in hours between your GMT and your broker GMT.
- Scalper_Lots: It defines the lot size.
- Scalper_UseMM: Turns on/off the autolot calculation.
- Scalper_LotsRiskReductor: Percent of free margin used to open new order. Can be from 1 to 100. Only used if Scalper_UseMM is on. This defines the percentage of money autolot will calculate to trade. (e.g. if 5000 USD$ is the total money in the account and the Scalper_LotsRiskReductor is set to 10, then the autolot will calculate the 10% of the money to use it in trades).
- Scalper_MaxLots: It defines the maximum lot size.
- Scalper_RelaxHours: It defines the number of hours to miss after hitting stop loss.
Long Term Advanced Strategy Settings:
This mode works very well for those who want to take advantage of following global trends in the EURUSD currency pair. This strategy works only with EURUSD currency pair on M1 timeframe. It’s not recommended to use this strategy on small accounts because of the margin drawdown while waiting for trades to complete themselves.
There are also some critical parameters which need to be taken care of in this mode, these are:
- FapTurbo_Lots: It defines the lot size (if 0 then Autolot is on).
- FapTurbo_LotsRiskReductor: Percent of free margin used to open new order. Can be from 1 to 100. Used only if FapTurbo_Lots is set to 0.
- FapTurbo_MaxOrders: It defines the maximum number of opened orders at the same time.
- FapTurbo_MaxLots: It defines the maximum lot size.
- FapTurbo_StopTime: It defines the time delay between first and second opened order (if Maxorders=2 or more).
- FapTurbo_TakeProfit: It defines the take profit in pips
- FapTurbo_StopLoss: It defines the stop loss in pips.
- FapTurbo_TrailingStop: It defines the trailing stop value
- FapTurbo_DurationInHours: It defines the maximum time interval allowed to keep the opened position.
- FapTurbo_Hedging: This feature prevents users from opening a lot of similar positions in one direction. When activated, the robot will control and balance the number of positions in each direction.
- FapTurbo_HedgingLotReducer: Opens every new added trade with decreased lot size.
There are other parameters on each strategy that can also be configured, as well as global parameters, but they won’t affect in a notorious way the performance of the robot. So this is more or less, the parameters that users have to be careful with. As said before, try learning what values suit best to your needs by using a Demo Account.
I will post one last thing before finishing this article. The images below are my actual FAP Turbo configuration, this is to give FAP Turbo users a guide or point of comparison in order to help them find the best configuration for their robots.
EURGBP Settings
EURCHF, GBPCHF and USDCAD Settings
FAP Turbo Long Term Settings
I hope this review can help most of those who are still fighting with their robots or don’t have a clue on how to configure their robots for its best performance, for those who had questions I hope this helped and I also hope that those who where doubtful whether or not to buy FAP Turbo had made up their minds.
**These settings are intended for education purposes only and carry no guarantee as to how well they will perform for any individual or organization. Historical results may and do differ from actual trading and no guarantee is made as to the performance of this information in future trading activities.**
