5th April 2009.
I have been reading a lot about forex robot and how everyone claims them to be successful. Most of the results claimed are either based on back testing and/or demo account which not necessarily replicate the live trading environment.
After reading through a lot of posts at various forums, blogs and websites, I felt that there is a need to put all the claims to real test and see how they perform.
There is other thing I want to be upfront about straightaway and that is the purpose of this blog is twofold. Firstly, as I said above I wish to give some real trading results about Forex Robots - I've selected two - FAPTurbo and Forex Megadroid - the much hyped Robots on the market at the moment. By sharing the results I want to hopefully give some guidance to someone like yourself who are looking at investing in some good system but is confused and not sure about what to believe and what to not.
The second purpose of this blog is that I have a self interest in it. I am risking my own real money on live account and would like to get rewarded for the risk. If this Robots are indeed working and make good return and if you do decide to buy those robots,I would like that you use the link on this blog as that way I'll get commission on the sales. I promise to make honest statements and back it up with copies of the trading statement. I'll update this blog every day and post the trading statement every week once the market closes.
I think thats a fair proposition.
Now the details about me and my Live Forex Account. My name is Pragnesh and I am based in Wellington, NewZealand. I've been trading Forex on and off since last 1.5 years. I've opened up a live account with FXDD (recommended by FAPTurbo) who use Metatrader by depositing USD 500.00.
Also a bit of background. I had bought FAPTurbo sometime in January and tested it on a demo account of $500. In roughly 30 days, the account grew to $908.00. Pretty Impressive huh!!
So I started with a live account after going through hips of formality and document scanning and email etc. The account was opened on 27 March 2009.
Anyway, loaded FAPTurbo and anxiously waited for the first trade. Alas, nothing happened for the first three days and I noticed that the spreads for the currency pair on which FAPTurbo operates were set quite high during offpeak GMT time, which is when FAPTurbo operates. So I increased the allowable spread settings on the FAPTurbo, which is when it made the first two trades. Both loser.
At this point I came across Forex Megadroid and bought it as well. Loaded it on the Metatrader. Immediately had three trades with it and guess what all three were winner.
So the first week belongs to Megadroid. A 100% success rate with a profit of $3.68, whereas FAPTurbo making a loss of $10.42.
I am trying to figure out how to upload the .htm or .pdf file on this blog. Any help would be appreciated.I have the trading result in those formats.
More tomorrow.
Links for the two Robots. Click FAPTurbo OR Forex-Megadroid
