Hi guys! I guess you heard all the buzz about the new Forex Droid robot that was released 31 March.

As you know as always I am in the insider group of first betatesters and had a chance to test it before the rest of the world. Here is my first test results and they look really good. The robot is trading EURUSD pair which is not a spread-dependent and uses Artificial Intelligence and some complicated RCTPA technology to adjust the stop loss according to the market volatility.

Fx Droid Testing Results

The main question is: Is it better than fapturbo?

My answer is you can't compare them. If you are a serious forex trader and plan to make money you should understand that your forex trading portfolio should consist of several good systems. Remember, the diversification is the key to success! When one system has a loss the other one has a profit so your chances to win simply increase! That's why I review different systems to introduce good robots to you and of course to you!

We have no grades assigned to Forex MegaDroid yet because we are still testing it. As soon as the testing is finished and the grades are issued, we will update them.


Update April 2009: After Forex MegaDroid appeared recently on the web, it evoked a great deal of interest and excitement. Developed by two record-breaking Forex traders - John Grace and Albert Perrie - the robot was expected to be unlike anything ever on Forex before. The concept of Forex MegaDroid is based on a solid theoretical development of its authors - RCTPA (Reverse Correlation Time and Price Analysis) which rests upon an instant juxtaposition of the curent market data to that preceeding it, therefore virtually allowing for a sniper-accurate prediction of the market's future behavior at any given point of time. Needless to say, the robot's testing did not fail my expectations - as a matter of fact, the results of all other Forex products can not even be compared to those of Forex MegaDroid when it comes to profitability and consistency of performance. With Forex MegaDroid, it's not a question of how much you'll make, but how many times more you'll make - so fast your initial balance keeps doubling, tripling, quadrupling and further exponentially growing until you completely lose count.

One logical question I had afterward was: how will the greedy brokers let such a robot operate and thereby scalp them off their profits? It turned out that Forex MegaDroid is plain invisible to them - the brokers cannot even tell the trades are placed by a robot, not to mention determining what robot it is. Overall, Forex MegaDroid is by far one of the very few things I would confidently recommend to anyone - the Internet's true number one hit.

Hi guys! I Think everyone heard about it. Fapturbo was released 25th November and made a huge buzz over the internet. No wonder it seems it is a really first money trading robot , the product we all so expected for a long time among all the crap that is popping up on the market every single day...
I will reveal my secret - I was invited to the betatester group and results are great so far! I still can`t believe it is possible. I will share more results and updates soon! Take care!



No long talks here. See my video report and review my fapturbo live trading statement. Click Here. Let numbers speak for themselves.


Update December 2008: My recent results with fapturbo look really impressive, guys. Take a look here. Last 2 weeks fapturbo made over 50 winning trader for me and my current balance is over 45,000 starting from 5,000 last month. Not bad, huh?
Btw, yesterday opened a private member forum where you can get advice and help on fapturbo!

Update January 2009: Charles from Fapwinner.com has issues special FAPTURBO Settings report with his own settings&strategy and added fapturbo to Fapwinner portfolio and discussions and started fapturbo mentoring class.

During last month we've been pretty flooded with your emails about new Fapturbo robot that showed such fabolous results in real trading in november. Is it still working?? So, I decided to make a new video update with my recent results:


Update February 2009: January results were incredible! I got just one losing day in the whole month! The current version is 36 and the developers are working on the new updates. You can follow them on Twitter here to get the latest news on their progress.

Update: Congratulations to FAPTurbo developers! This robot won the world Forex Robot contest. I quote: "The first to cross the finish line of this, the 3rd world contest of automatic trading, was FAPTurbo. This forex robot was the undisputed winner of the 3rd contest since its beginning. An extraordinary 62.2% equity increase was reached with this robot becoming the new highest ever equity growth in our live competition..." The second place got 10PipsPro Robot (negative equity growth -13.4%) and the third was Forex Tracer Robot (-34.0%).

Update April 2009: Fapturbo released the recent trades report. You can check it out here:http://fapturbo.com/fapturborocks.pdf

Update: Fapturbo continues its wonderful performance on my account. However guys I am sure you need some 3rd party results. Take a look on Donna's account here http://donnaforex.mt4stats.com/ - she managed to triple the deposit in few months! And here is the 4xRobots Robot Race where fapturbo is the top winner again:


Update May 2009: Cool! guys, new fapturbo version 47 was released today! I've already made a few quick tests and it looks awesome!

Update June 2009: Fapturbo.com robot has become so popular and profitable that every scammer dreams of cloning it. There was a huge number of scam clones created recently. Read my fapturbo scam clones report. Beware of the clones!

FAP Winner takes automated trading to the next level, in my opinion. It is a combination of an impressive EA (robot) plus an account trading strategy (risk/money management) plus a hedging tool ALL IN ONE! And the support is top notch! I get faster customer service from FAP Winner than I do my local cable company. The owner, Charles, has consistently impressed me with his 'Pay-It-Forward' mentality...few people in this world have a desire to help others more than he does. This was recently shown when the Central Bank intervened in the markets and artifically propped up the US Dollar which sent the EUR/USD into a nose-dive. This was something no EA could have responded to. Immediately, Charles was alerting FAPWinner users to the issue and giving updated direction on what to do. He has also recommended a refinement to the strategy to make the EA work better during these turbulent times.

Having said all that, no EA is 100% perfect and forex trading is not for everyone, especially not for the faint at heart. But in my opinion, FAP Winner and all that it has to offer at least gives me a greater probability of success than I'd ever have trading on my own. I am on my own March to a Million using FAP Winner and look forward to see my account value grow.


Update November 2008: I have recorded cool audio interview with Charles A. Floyd, II from FAPWINNER. Click Play to listen to it.

Interview with Mr. Charles A. Floyd, II, FAPWINNER.com & Golden-Grid director and creator.

	Charles A. Floyd is a man that is honored and repsected by his peers as a man of integrity. He is a professional forex trader with well over 20 years of trading experience. Today I have Charles on my call to find out how the small free community of FAP traders grew into one of the largest forex families on the internet.
	Click on the Play button to listen to the interview.

Update December 2008: Charles from Fapwinner.com has issues special FAPTURBO Settings report with his own settings&strategy and added fapturbo to Fapwinner portfolio and discussions and started fapturbo mentoring class.

Update April 2009: Charles published interesting video about fapwinner on youtube. Charles A. Floyd from FAPWINNER on Youtube! I heard fapwinner is going to start a series of free webinars for its members. Don't forget to read Charle's Notes on forum.

Update June 2009: Fapwinner is organizing World Seminar 2009 in UK. Megadroid and fapturbo team, donnaforex, 4xproject and other stars plan to come. You can get more info and apply here.

TradeLikeCharles is a new project from the creators of Fapwinner club. It is not a single trading system - it is a whole package of 24 trading systems, cherry picked by Charles himself during his 26 years of trading experience. He teaches them in a way of live webinars every week for 1 year. All webinars are live - you see what Charles is doing on the screen, you trade with him and earn while you learn the system. I really like his approach and I have to say Charles is a great mentor. I decided to place his video here so you can have full impression of the trading group:


The bottom line is - if you are looking for good forex education and want to be a successful trader and have full understanding of what tools you use and why you do that - you may consider joining the group and learn a lot from Charles. However if you prefer no-brainer approach allowing black box robot trade for you - don't join it.

Update June 2009: I am very excited after the last Charles' webinar. He was teaching the 1Minute Euro scalp and earned 51 pips in less than 2 hours!

Forex Vengeance was released onto the market Tuesday 17th March. Forex Vengeance is a multi-currency pair trading system. The pairs it trades on include the EUR/JPY, EUR/USD, and GBP/USD currency pairings. This means your profits aren’t tied to one currency - this is particularly important given the current economic climate.

Forex Vengeance functions in a MetaTrader 4 platform which most brokers provide their clients with. It is connected to a Forex broker as long as the platform is open on your computer, and remains connected to the Internet.

Forex Vengeance is designed to work with any initial outlay - you can start with $50, $100, $200.

Forex Vengeance is designed to work for low risk but solid profit growth. Slow and steady wins the race.

The Forex Vengeance Robot has been tested with real live trading accounts, not demo accounts, over a period of months before it was released to the market.

Overall, I would recommend Forex Vengeance as a "Buy".

Forex Beater is a software packaged created by an expert trader who allegedly had stumbled across heavily guarded market secrets. Now, those of us with experience in the Forex market recognize claims of 'inside secrets' as being indicative of a scam. However, after the conversation with my barber, I went online and took a look at information available on the internet for Forex Beater. What I found really surprised me.

First of all, the website itself offers a great deal of evidence to support the claims of high profit. One video shows the software in action, and an instant profit of 129%. The software isn't a book that simply advises you how to trade, instead it takes control and trades for you. The software removes the human factor of greed and impulsiveness, and simply does trades for you when all of the correct signs are in place.

Peter Larsen provides a personal 56 day 100% money back guarantee. With nothing to lose, decided to test the software. Purchasing and getting started is extremely easy. You simply download it, set up the software according to the directions, and let it go to work for you. My final results were enough to convinced the most stubborn skeptic. I set it up and walked away, checking in on it only for a few minutes each day to watch progress. By the end of the first week, I was astounded. My previous profits trading on my own ranged from $100 to $300 every day. But the software completely blew my mind - it was making me about $800 to $900 on most days. I can state that there is no doubt this software works!

Update November 2008: Peter Larsen released new expert advisor called Forex Hitter. Results look promising so far!

A recent major upgrade of Forex Beater (now marketed under the new name "Forex Hitter" has contributed to the software's rapidly growing popularity through enhancing its scripts and making them flexibly adjustable to the current volatile situation on financial markets. While similar products show mostly negative trading results under the present conditions of a global economic crisis, Forex Hitter continues to secure profits for its users. It is by far the only automated robot which demonstrated that profitable trading is possible regardless of the market's general tendencies. Forex Hitter sure is the number one choice for those willing to always stay on the safe side, no matter which way the market turns.


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Forex Auto Trader is a new system by Craig Reynolds, professional forex trader. The system showed great results as on backtest and on the live trading. Craig published his live trading statement here: http://forex-auto-trader.com/DetailedStatement.htm



You know nowadays it's hard to find the vendors who really trust and trade the system they created not just make money on selling their product. So Craig is a nice exception here and that is very important that he trades using his own system on his real money.

The only bad thing I can say about FAT is that it works only on one currency pair, EURUSD. So be careful and don't use it on other currency pairs, guys!


Update December 15, 2008 Forex AutoTrader is really performing well last week, Take a look on my recent results here:

I had been following Pipzu way back before it was even released, although I never got the opportunity to beta test it. Anyway’s, I started it on a demo account for 2 weeks and it made 4 trades, all winners. I grew some balls, and opened a live account with $5,000. I set my lot size low at 1.0 just to be safe. Well, 3 weeks in, 7 trades later, and I am now at $8,600. It feels so good to read that over and over again!

How Much Can I Make?

The most important thing people want to know about an expert advisor is how much it will make them. While this should NOT be the only thing of concern to you, we will get this out of the way first, then get to the important stuff.. Realistically, you can make as much as you are willing to start with.

So let’s say you start with a $500 micro account. Not a problem, Pipzu can be adjusted to run on that balance. Set your lot size from 0.1 up to 1.0 and you can expect to make around $25-50 per trade.

What about a $5000 initial capital?

Now we are talking! You should be running a 1.0 to 3.0 lot size with this kind of account balance and you can expect anywhere from $100 to $600 per trade.

For you big guns out there looking to start with $20,000+ you can expect to make at least a grand per trade running a 3.0+ lot size.

Day Trading Robot, is two things simultaneously, a newsletter with stock tips, for buying and selling, and also an automated stock trading software "robot". The purpose of this "Robot", is to analyze the penny stock market, giving tips to buy and sell, with the objective of automatically spotting the best stock investments.

The system focuses on getting a lot of small penny stocks instead of risking a lot of money on expensive stocks. Penny Stocks are much cheaper, than the traditional stock market, which means that is possible to profit from a smaller investment.

Just like the stock market, the penny stock markets investor, make profit from buying at low prices and selling at a higher price than they purchased.

The Day Trading Robot automatically investigates stocks, for you using 23 professional stock trading techniques. What this robot does… is watch thousands of stocks at a time… And it waits until a stock forms one of these 23 specific price patterns. If a stock happens to form one of these patterns… The robot will do a few simple checks and if the stock looks like it is about to rocket, the robot Beeps and alerts you about, selling or buying the stock.

The Day Trading software is based in Artificial Intelligence, and neural networks, which means that it is continually improving itself.

I personally used the previous version of the software, and the tips given were 80% correct. So, if you are going to use it, do not invest all the money, in the first tip.

Day Trading Robot comes with an 8 week money back guarantee -If you still unsure if it will work or not, you can buy it, watch the tips for some, without buying stocks, and calculate the profit you would have made. After trusting the software you can start making real investments, and having huge profit. If you don`t like, than all you have to do is ask for the refund.

Traders who look for a stable manual strategy with good returns may check out ProFX, new manual trading strategy from ForexEasySystems.

ProFX manual trading strategy designed for the Meta Trader 4 platform has clear trading rules that are easy to understand. The great thing about this strategy is that it will alert the trader automatically when a possible entry comes up.

June +850 Pips
July +530 Pips
August +777 Pips
September +635 Pips
October +873 Pips
November +745 Pips
December +515 Pips
January +923 Pips

George is truly a great trader but even more important a great person. He takes the time out to answer his students and help them with anything they are struggling with. Not many people go into detail the way that he does. His videos are priceless. I suggest that anyone who is not one of his students yet, give him a shot. When I first purchased his system, I loved how simple it was. It is well put together. Another key factor about his system is that it does not require for you to stay up late for the London open or anything like that. I have a fulltime job so I'm not always excited about staying up late trying to get in a trade before 1am comes. His system is powerful enough to pull your daily target out of the market at anytime during the day, not just the London open.

I've been burned in forex many times in the past. I've finally come across a system that is well worth the price and produces the results the author says it can produce. Those of you who are already students or have seen some of his videos with the statements, know that he does not have to do this for the money. He makes more than enough of that just from trading. He truly wants to help you do the same and that's why this system should be given a shot by all traders at all levels who are trying to take their trading career to a new level. In the world today, there are a lot of scam artist and people out to make a quick buck at the expense of someone who is just trying to better their life. George truly is not one of those people. He wants to see you succeed and reach your goals and that's why hands down, you will never find a better system than this, or a better person than George.

This system is perfect for the novice trader because it can be traded with just $100. Not many people have $1k, $2k, 0r $10k laying around to throw in a trading account and trade with. So, for the little guy who has a passion for trading but not the deep pockets as some do, this system is the perfect match. Give this system and George a shot. I promise that you will not be making a mistake by doing so. So, with that said, check out his website and see for yourself. He shows you the results, so what more can you ask for. Don't let this great chance pass you by. Trust me, it truly will change your life. I'm giving this system a rating of 5 stars but that is not accurate. I spoke with George before I purchased his system so I knew what I was getting into. I expected this system to be what it was just by speaking with George. So, I'm giving it 5 stars but it deserves all the stars in the world!

Today I decided to review and share my personal experience with Forex Autopilot trading robot by Marcus Leary to answer main question: is it worth its money or just a new junky product. As you can see I dont promote it with my affiliate links, i just make honest unbiased reviews of most popular forex software avaliable on the market.

I purchased forex autopilot in the end of February. Since that I Have been using it on my live account for 2 months.

First of all I made quick backtest on history to see the performance of Forexautopilot for last year.

I am running it on EuroUsd currency pair on M1 timeframe with the default settings. The testing results look promising. The balance keeps going up. So it made 16362 usd from starting balance 10k.

I was really excided by backtest results and decided to use it on my real account. On 27 of february i deposited 2910 usd using my credit card and attached the Forexautopilot robot to the chart to let it trade. As you can see for the last 2 months it made plenty of trades. Most of them were winners with few losing trades. And my current balance is 11,152 usd. That means that ForexAutopilot tripled my account in just 2 months of trading! Fantastic results!


Update October 2008: I got tons of requests of my readers to share the latest resuts with ForexAutoPilot so I decided to shoot a new video with the update of my latest progress. I still work with FAPS on 2 currency pairs with my own settings.


Update November 2008: How is FAPS doing? Doing good. My deposit is growing. I will not shot new video about FAPS every month otherwise you will think I promote it. So I would better show you results of other fellow traders. Here is my readers Spencer. He sent me his FAPS report for november: he had 29 winning trades, 2 losing trades and doubled his 1000 usd account in 8 days. Not bad, huh? Here is the screenshot.

The Forex Trend System is one of the FEW Forex trading systems that I would personally recommend. The Forex Trend System was created by an actual trader that makes his living trading the very system he is selling.

Visually it is quite simple. Buy on Blue, Sell on Red. The FTS is great at getting one in early at the start of a trend and keeping you in until it is over. Because of the simplicity of the FTS, it can easily be used with any other system one may be trading.

Gary shows the summary statements of his personal trade results for the past 4 years beginning from Jan. 1, 2004. Every month he updates the results and pip gains. In just shy of 4 years, he had only one month in the negative, and that was from an automated version he recently tested. That has been discontinued. I myself have never been a believer in automated trading systems. They simply can not replace that human factor and experience.

All future updates to the system are free and Gary offers his personal email. Support is good and timely. The FTS is very simple to learn and follow. The FTS indicators make things so visually clear, that one can have real confidence in the trade. The FTS, like any system or indicator, is not 100% accurate. No indicator is. But, when the market is trending, you will know it and you will know what direction you should be looking to trade. Using the FTS makes it real easy to buy on those dips in an uptrend and sell the rallies in a downtrend, because the overall trend is made so visually clear. Likewise, when the market is ending its run, or may be looking to reverse, you will get a warning.

It can be used on any currency pair and time frame, but is recommended using no less than the 15 min. chart. The 60 minute has shown to be the most effective. Seeing the trend on the 60 minute chart zoomed out for the past 4 weeks is an extremely effective way to see the current overall trend as well as strong turning points. Knowing what the trend is on the hourly chart will help one's trading immensely.

I highly recommend the Forex Trend System.

Nowadays it's really hard to find a good working EA among tons of crap that the forex market is filled with. When someone asked me to review this BankingFx and I got to their simple website and saw strange results with strait line to high profits it looked weird to me at first. So I decided to contact the vendor. I was suprised this time that vender Higino not only replied me but also was so kind and honest that provided a copy of his system to me for my investigation. I must admit not many vendors act so straight-forward to me. Most of them ignore or try to take money from me :) Here is what Higino wrote to me:

"My system is very safe, works with fixed lots, or money management. Does NOT use Martingale, or there is no danger of losing any money in the account suddenly. The Expert Advisor BankingFx Diamond EUR-GBP is profitable in all market conditions, it has high profit factor, and the losses are very small.
The great advantage of the Expert Advisor BankingFx Diamond EUR-GBP is the PROFIT FACTOR obtained, is extremely high, on average 4.0, so it is possible to use larger lots, getting more profits."

I verified the backtest and was really suprised. This scalper worked fine. But I was really worried because Take Profit is so small (TP=5) and I guess not all brokers allow scalping systems to trade on real account. So before posting positive feedback based only on my backtest I decided to place it to trade on my real account. I was really afraid that the system was optimized to work well on history (so called only-history holy grail) but would fail in real trading.


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The bottom line is that BankingFx is a good choice.

Update: So far so good. Results after 3 weeks on a real account are very promising. I will continue my test.

Update: October I don't recommend running the system during high volatility days when the currency makes huge moves during the day to avoid losses. Higino released a new update.

I'm here to say that this is one of the best EAs out there! Not only does it perform as advertised this year but it's also had the same performance for the past 9 years according to there tests!

I'm using both of there auto EA's, Shark and Griffin. I've tried both on the $5,000 account for the first time this week now with excellent performance! I've been using both of these EA's off and on for the past month by them selves with great performance. I finally decided to run them this week together with 1 full lot trades with my $5,000 account and WOW, what a winning combination. Running both Shark and Griffin brought me in this week alone $1,167.00. It's recommended that you don't trade more then 10% with that system and I used more. Well anyway, I'm here to praise Forexeasystems.com! There trading EA's are really something to behold! Shark has an 85% win ratio and Griffin a 89% so as you can see, because of these win ratio's you really are aloud in my opinion to trade larger amounts of your account.I think if you started up with $10,000 and traded with 3 full lots that $1,167.00 one week profit I made would have been around $3,500.

It's nice to finally know that an EA with fixed stops can really be reliable and work in a long term way. It really could be your ultimate source of income or even your long term investment that could make you hundreds of thousands over the years and allow you to retire in around 5 years time with close to a million dollars with just a measly $5,000 or $10,000 investment. Isn't that what we all want? Well, all I have to say is that it's possible with these 2 EA's, Shark and Griffin! Both systems if used together like this for a year I think could easily make you close to 100,000.00 with a very low risk ratio just in the first year! All I can say is I did the homework and spent the money on other systems for you and you should pick up both of these EA's for your currency trading.


Update November 2008: Alex released a new SIGMA EA. Click here to visit Sigma webpage. Well... Results Look Promising. You can watch it here. Backtest Results

Update March 2009: New version EA Shark 5.0 ULTIMATE was released which has higher accuracy!

I have had the privilege of trading with the program for a month before it was released to the public. Having a month of experience prior to its release has given me a great look at the product and a great foundation for reviewing.

L.M.T. stands for Low Maintenance Trading which is an appropriate name for this program. While it is a program that analyses and spots potentially profitable trades, it isn't a robot. When there is a possible trade a signal is given. When trading on the daily chart it only takes 10 minutes to check for trades and open or close any trades as appropriate. Simply look at the 4 checks to determine if a potential trade set up is one that you should take. I really like this aspect because it puts me in charge of my trading. I can decide how good the signal for the trade is and whether or not I want to enter the trade.

L.M.T. Forex Formula is that it can be used with any pair. I have been testing it on 10 pairs with good success. In 3 weeks of trading I have had 5 trades that have been executed and closed. Of those trades 3 were wins, 1 loss, and 1 break even. The result from these 5 trades is that the account is up 413 pips.

The L.M.T. Forex Formula can be used to check for trades either once a day or you can use the programs to trade more often for smaller profits. This makes the program great for those who have full time jobs or for people who want to be more active in their trading.

Forex Grinder allows you to set up any size of account, where it would be a standard, mini, or micro account, Forex grinder will support you. With the economy it is understandable that you want to make sure you will make money from a product you're unsure of. With the capability of being able to set any size account, this means you can test this software at low risks and watch how well this program will work for you, so that you're not spending money on a product that won't make you profit.

Grinder has been working great for me. I'm not using the default settings, and I am trading at instatrade/instaforex like they recommend.

So far my initial deposit of $1000 is up to $1530 in under two weeks.

After two weeks of trading the 5 EMAS system I managed to get 205 pips on the GBP/USD pair (12 trades: 8 wins, 2 losers and 2 break even). This system is easy in use if you have some prior experience in forex trading, especially the free included expert advisor makes live easier because it will notify you when a new forex trade is signaled. Newbies may have some troubles at first in understanding the 5EMAS system.

Apart from giving you a broad and very comprehensive introduction to the topic of forex marketing, you also get in depth training on the system itself, the money management system that goes with it and the Electronic Assistants (EA) that have all the indicators pre loaded for use with the MT4 trade platform.

Also my partner made 80 pips the very first day using the 5 EMAs trading system. It can be applied to most of the major currencies allowing you to make even more.

Whether you do scalping, day-trading or short term trading. It uses a set of common technical indicators including, Trend Lines (Support & Resistance), Moving Averages, MACD, Stochastics, Williams' Percentage Range and the RSI.

I love the exit strategy that allows you to gain maximum profit from your trade. Depending upon the exit strategy selected, the 5 EMA's system generates monthly returns of between 30% and 55%.

I highly recommend it. If you are only going to buy one system, this is it.

The forex magic machine is a new product from the creators of the following projects: forexdominion.com forexkingpin.com semiautoforex.com theforexfantasy.com theforexlegacy.com theforexmaestro.com theforexmiracle.com theforexterminator.com - most of them does not work at all as you can read from my old reviews.

However this Magic Machine strategy is not bad at all. The strategy is based on plenty of standard indicators such as Stochastic, RSI, MA, SAR, BearsPower, BullsPower, ADX, MACD etc. and works on EURUSD H1.

The Forex Magic Machine backtest results look promising only in 2006-2009:


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The main problem here is that it is not an original EA. As one of my readers reported: The strategy itself is a clone of a free EA called VForce:

For 200 bucks, they sell you the 'original version' which is v1.1 of the 'vforce like ea' downloadable here: http://www.tradingsystemforex.com/expert-advisors-backtesting/1086-vforce-like-ea.html
For another 200 bucks, they sell you the 'advanced version' which is v2.0 of the 'vforce like EA' downloadable in the same thread as above.

The vforce ea has a 'modify order 130' issue cause by the ATR trailing stop and, of course, the magic machine has this as well. Backtests are literally the same. No improvements or modifications. Same ea.

So guys, be careful!

Brad Cullen released a new Robot called Forex Conqueror recently. Forex Conqueror Expert Advisor trades the EURUSD pair on the M15 timeframe. The Backtest for 2003-2009 looks promising.

After the order you will get a OTO offer for The Forex Conqueror Plus which trades on USDJPY M15. This second robot is a piece of crap - don't even think of buying it! Backtest shows total loss for this robot. I tried both Alpari and FXDD to make backtest.

Here is the Forex Conqueror backtest:


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The main robot looks promising. I will report later with more trading results!

In short, Forex Killer is a complete revolution. Believe me, I don’t say that lightly at all and this is certainly the first Forex product I have ever said that about. I have certainly never endorsed any Forex Trading Software in the past, the reason is that I just don’t believe in it, and I never really have… until now. Making some decent spare change to help with the bills, but I really wanted the big bucks. I was feeling a little despair and my friend Dave gave me a call telling me about his previous weeks success trading Forex. He had made almost $3000 that week. He told me all about the Forex Killer Trading Software and how it gave him all the signals and pretty much told him what to do.

From that day onwards I have been making more in 1 week that I would in a month with my previous techniques. That was around 1 month ago and for the last 4 weeks I have consistently made over $2500 per week using the Forex Killer System. The thing is the REAL DEAL. As much as I hate to admit this, the product is almost somewhat of a ‘Forex For Dummies’ system. The software delivers in what it says in that it tells you almost exactly what to do and when to do it.

The system isn’t 100% perfect. While it is VERY easy to use it can take a little bit of time in the beginning to familiarize yourself. The usual thing like getting to know the software and the like. Also, it isn;t a fully automated trading robot, you will have to do some work yourself. The good part about Forex Killer though, is that it tells you exactly when to do it.

The best part of all, is that they offer a full refund if you don’t make money. So there really isn’t any risk in purchasing anyway. Anyway, thats enough Forex Killer talk from me. :)

I wish you the best of luck in your Forex trading, I hope you can become as successful as I have.



Update November 2008: I heard they develop a cool automator plugin that makes FOREXKILLER place trades automatically!!! Great news. To be honest I am tired placing my trades manually with ForexKiller every day.

Update February 2009: Great news for all ForexKiller Fans! Forex Killer MT4 Automater AutoFxK v.0.5c is finally released and it is FREE!! (comes as a bonus!) With this nice piece of software called AutoFxK developed by A. Alexander John you can now automate your Forex Killer trading in Metatrader4 platform! 100% autopilot approach! No more boring manual price data loading! AutoFxK was designed to act as a mediator between Forex Killer and your MetaTrader trading platform. It will load the price feeds inside ForexKiller and place/close trades for you automatically!

So far it has worked for me! It does not trade a lot on the EUR/USD.

I use this EA on three different currency pairs. I have figured out a way to make it work effectively so I get more trades. I will not reveal what I figured out, because It was something that came to me as I watched this EA trade.

In short, does it work... Yes! Do you need some knowledge of how to trade the Forex... Yes! I use it for timed entries and it saves me from watching the markets all day.

Most of the EA's I have purchased could not hold a candle to this EA. It has a much better build then the others. It does use a Fibonacci approach, which I really like. Remember, NO EA IS PERFECT! If you're buying an EA, without any trading experience you may be in for a world of hurt. Test it out for 2 months, not just 2 weeks!

If a person is looking for the opportunity to change their life with a new business, This easy forex trading system may be exactly what they want. “Trading From Home” is a system whereby you can be trading in the forex market and making money every day. This is not a long term investment deal where you buy stock and hold on to it hoping to make money in a year or two. This is a system that allows you to invest and take your profits right away.

You can be making two hundred, or three hundred dollars a day with short term investment. Or at least so say its promoters. You can actually decide how much money you want to earn each day and then call it quits in a matter of hours.

“Trading From Home” is a system designed to help people learn the basics of the easy forex trading system and the knowledge to run their own business right from your home. They provide all the tools and guidelines that you need to achieve success. They will even provide special tutoring and help to get you started.

In our opinion, this is a concept that really requires further investigation. If you have always been curious about making money in the market place, there is no question that now is an excellent time.

Okay guys, here is my review for the Brotherhood. First things first: the website. It looks amazing again, really overloaded with high quality graphics. You can even notice lighting and flying bug in the site header animation, that's really crazy for the trading site but looks nice. The project was created by the same guys that came up with Forex Tracer and The Forex Funnel last year. If you have read my reviews you already know them.

The main problem with these guys is that they can't do forex trading itself. They are perfect web designers, marketers, even coachers and teachers, but not the traders.

Check out their Forex Tracer and The Forex Funnel. They don't work. Period. Now what? They show up with the new system that guess what... does not work again..

Actually, the Expert Advisor that is shown as a premium bonus is a piece of crap. Check the backtest of this EA in the sceenshot below.

But wait, there is more to digg here. In the member area the main trader, "20+ Year Veteran" Mr. Jason Alan Jankovsky from Chicago sends daily Market forecasts in the newsletter.

I was really amazed to see that this expert has stopped out on 20 consecutive picks! Sounds discouraging, huh?


Click to enlarge the image
Well, enough critics. I just want to be honest with you. The project is not a scam. Period. And I would say better, it is worth its money. Why? Because this Jason Alan Jankovsky may not be the best forex trader ever but he is a really good teacher and his stuff has value. You will be able to download interesting bonus book "Top Ten Mistakes FOREX Traders Make" and watch the "The Limitations Of Technical Analysis" video as well as tje video about insider secrets. Every day Jankovsky meets people at the webinar and shares his market forecast with members.

The bottom line is the trading system of the Forex Brotherhood really sucks but the course itself has a great value for the beginners who want to find out more about Forex and what stands behind it.

Update September 2008: Watch out the shocking video review of Forex Brotherhood by Mark! WOW! The truth is revealed! Click here to watch it.

Winning Solutions is rather old website. I have reviewed it 2 years ago and the review was bit negative as old trading system from Winning Solutions did not show any good results in long term.

Update January 2009: However the creator of Winning Solution Ashar Hanif contacted me with the idea to make new review because he released new version of winning solution systems. He provided me with access and with the new system so I could make backtest of WSSBreak2.0 system and results really impressed me. Take a look yourself:


Click here to see backtest
System is generating constant profits. Looking good. I will test more and report later!

Forex Tracer is the latest Forex trading system online and it's selling like hotcakes. Much like the previous trading systems Forex Tracer requires no previous experience and has been designed to be on autopilot and make you money. All that is required is a reliable Internet connection and the ability to leave your computer of choice on 24/7.

While I couldn't find much information on the fine folks that created Forex Tracer, I did find out that they are expert advisors that worked with mathematicians to develop complex algorithms. Oh and that this program is safe and legal. That's what daddy likes to hear.

So if you're lazy like me and would much rather pay someone to do something for you or find something to do it automatically this is the type of system you should be looking into. It automatically buys and sells for you, it's a beautiful thing. I'm not into learning the Forex system, why would I waste my time learning when I can launch a program to do it all for me? That's just not an efficient use of time.

One thing I'm loving about this fancy Forex Tracer is you can start with a 'demo account' so you can play the ol' market with 'play money' and see how much you could/would profit before even investing a dime. How genius is that? This simple fact combined with the 60 day money-back guarantee makes it totally risk fee.

MY VERDICT: The team at Forex Tracer have a tight product here. I strongly recommend this product, as NC Media, the publisher of this fine product have an awesome job. Of course obviously I will tell you that you should demo it before going live, just to get the feel of the product. I think these folks out of most of the products I have tested so far, are the most consistent, and practical for your investment in Forex products.

390 PIPS MADE TOTAL IN TWO WEEKS!!!
I have DOUBLED last weeks profits! I started at $5,000 initially and ended up making over $10,000 in profits using the Forex Tracer. Why wouldn’t you want to use this?

I purchased the trend forex system several months ago. The system is sound. John Chen has adopted meothods from several other systems and combined them together. The basic premise of the system is to pick short term overbought oversold swings is strong trending markets (very sound). He supplies indicators and templates for Metatrader 4.

His money management is very concervative. So far I can say that after 3 months of trading I have 72% of my trades are winners. My average profits are 1.6 times my losses. I trade the 4 hour, 1 hour and 30 minute charts on majors and USD/AUD. I am trading 5 times per week (I could trade more however I have a personal rule not to hold more than 1 position in the market at one time and I stop trading if I am profitable for the day).

I have modified the entry to what John Recommends as I found the distance to stop was a little further than I like. That change has helped a lot.

I will not give this system 5 stars as It does not have an expert advisor that alerts me of trades, however what is sold is honest and works as well as anything else on the market (there is no perfect system).

I opened the live account with $3000 and it just passed $6000 today! In less than 3 weeks it made a 100% return.

It's been my experience that stop losses are virtually impossible to hit because the Funnel sets them at an unreachable point, 100 pips away from the current rate. That's a good thing, it's how the Funnel makes money.

I also read another review that mentioned the Funnel is hard to set up, it's not fully automated, etc. I was able to set it up in about 5 minutes on a demo account and it automatically started trading. Now that I'm running a live account, I just let it go 24/7 so it's making money for me when I sleep, when I'm at work, etc.

I know it sounds like I work for Forex, but please believe me, I don't. I'm defending the software because it is working for me very well and I don't want to see false things said about it. I could NEVER do that well on my own.

Many readers asked me to review this website; so finally I decided to write my short review about Range Trader by Peter Parsons. I found Peter a nice and helpful guy. His system was especially recommended for the EUR/USD trading on small lots with a good number (94%) of winner trades. Some time ago he released RangeTrader-Phase-Two. You won't get 600% here but if you are looking for safe trading with low profits (from 3-15% per month) and low risk - this system could become good solution for you. (Anyway I prefer more risky systems with higher profits.)

Update September 2008: I got in touch with Peter Parsons, the creator of RangeTrader. He said he is testing the new Roboteer: "I will make roboteer available, just not yet. I want to give it another week or two, to see what wrinkles need ironing out before I put it forward for review."

Update December 2008: Finally Peter Parsons finished new version of his Roboteer. I could not make a long term backtest and asked Peter why? Here is his reply:

Firstly Roboteer uses different optimized settings based on the last 3 Months of history. Therefore back-testing Roboteer using history from several Years ago is pointless, because you will be using the latest optimized settings, which are geared to making money forward trading NOW, not back-testing way back when..... That said, you can back-test the last 3 months of history on the EUR/USD to see how the system has faired. I do not intend to back-test historical data from several years ago, simply because of the requirement to optimize and re-optimise the settings every week or so.

What can I say about this EA from Bogie-Enterprises. Yes, this EA can seem great at first sight. It finished in 2nd place in the 2007 Automated Trading Championship, its results in 2007-2008 with autolot are incredible. So I decided to take a closer look.

In my tests I used Bogie-NN-v8 EA. Take a look on the backtest of this system:


Click to enlarge the image
As you can see this EA is well optimized for 2007-2008 uptrend but performed poorly in 2005-2006 so I can't consider this EA a universal one. It can perform really well for some period but I would not trust it as the market situation changes. It can lose your deposit easily.

Update September 2008: Bogie-NN EA had unstable performance during the 3 month test by the Forex Robots website and was beaten by the Steinitz HAS MTF Robot.


Update December 2008: According to Forex Robots contest during last 2 months Bogie stoped working and performing any positive results at all. I guess it's time for some tweaking for this system.

Many visitors of my website asked me to review this Steinitz HAS MTF Robot by Donald Steinitz. To be honest I was really impressed by the quality setup process of this EA and detailed instructions PDF. The EA uses several indicators and has TONS of parameters. (!!!) I have never seen such a high number of parameters before, good work.

Anyway Steinitz HAS MTF Robot Backtest looks strange to me.


Click to enlarge the image
Maybe I used wrong pairs or wrong settings? I just used the default settings with recommended currency and timeframe. To be honest I gave up. I don't have enough time to optimize the tons of settings for this complicated system when I have a lot of other good profitable systems to use. I would say Don Steinitz's system is too complicated for ordinary users like most of the fellow traders..

Steinitz HAS MTF Robot won a 3 month contest by Forex Robots website and took a victory over Bogie-NN EA and other robots.

Update December 2008: Recent performance of this robot was too unstable, please be careful and trade small lot sizes. I got few angry reports from my readers recently.

London Forex Rush was developed by A. Russel. It looks similar to the Forex-Breakout-System. It is not a fully automated robot. The system is presented in Ebook and MarketTrend.ex4 indicator. It works on Gbp/Usd pair.

The entry signal comes from 07:00 to 09:00 a.m. (GMT=0) on the borders of the horisontal channel, formed by the picks of the asian session.

However I have no idea what indicator MarketTrend includes so it's hard to analyse it. The results are pretty good however it is not an automated robot so requires a lot of manual trading and human time to monitor the trades and signals.

Forexderivative by Zack Kolundzic is a positive surprise to me. I am really tired of crappy robots and tons of fapturbo clone scams that pop up on the market every day. I hope this forexderivative is a fresh breath and the good change...

Forexderivative is a new high tech Expert Advisor with a complicated algorithm. This robot trades EURUSD, GBPUSD, USDCAD and AUDUSD on M1 timeframe.

The Forexderivative backtest results look encouraging:


Click to enlarge the image
There is a serious mathematic base inside the robot which choose the proper system from its portfolio according to the market conditions. That's good part!

The problem is - there are no enough real live trading results so far and we cant totally trust M1 backtest. Lets see how the real money test will go. I am testing it on my live account and will report later!!!

Update June 2009: forex derivative 2.0 has several glitches that cause losses. Make sure you have downloaded fresh version!

Here is what we received from our user "Ansatsu":

I think i found that forex derivative is scam, look here.

Code:
int CheckForTestingModeResult(int ai_0) {
      bool li_ret_8;
      int l_year_4 = TimeYear(iTime(NULL, PERIOD_M1, 0));
      if (ai_0 == 0) {
            if (l_year_4 == 2000 || l_year_4 == 2001 || l_year_4 == 2002 || l_year_4 == 2004 || l_year_4 == 2005 || l_year_4 == 2006 || l_year_4 == 2008)
                  li_ret_8 = TRUE;
            else li_ret_8 = FALSE;
      } else {
            if (ai_0 == 1) {
                  if (l_year_4 == 2003 || l_year_4 == 2007 || l_year_4 == 2009)
                        li_ret_8 = TRUE;
                  else li_ret_8 = FALSE;
            } else li_ret_8 = FALSE;
      }
      return (li_ret_8);
}

That part of the code is calling to the .dll for yearly parameters. The backtests are curve fitted. Totally bogus. It makes the EA seem like its a system, which produces great returns. Instead, its just optimised for each year so the backtests are bogus! They are merely optimised results for each year! SCAM artists! This has to be a new length to go to to deceive purchasers! This has to be told!

Update: We asked the vendor to comment that and received no reply in 7 days :( Sounds bad. The forward test on live account showed total loss during the first week of trading. Forex Derivative is a big dissapointment to me. Click to see live trading results.

We have got in contact with the developer of Euro Blaster however he was not very friendly and refused to send us a copy of his EA for the review. That is often a warning sign - if the robot is really good vendors are always willing to show it to our readers.

However I can't say that this robot is a piece of crap. According to the backtest it really made some good gains in 2008 however if you run it long-term the SL eats all the profits.

The Euro Blaster long term backtest results looks bad:


Click to enlarge the image
The system works on EURUSD M5. They provide 3 presets. However if you compare TakeProfit=25 and StopLoss=350; it is clear that one wrong trade eats all the profits in a long run.

The Forex Crusher is the new EA from Paul Walker. The website itself contains traditional generic hype without any real results and backtests. So lets go straight to the robot testing itself.

System works on EURUSD H4. The Forex Crusher long term backtest results looks bad with many programming errors in the log:


Click to enlarge the image
We tried to backtest it in 3 different brokers and all of them showed log errors such as Order Send Error, Order Modify error etc. I would not trust the EA where the vendor did not bother to check his product carefully. Obviously he does not trade with it.

Enterra Forex Star EA is one more fapturbo scalper clone - trading during the asian session. However it is not the 100% clone. They use the same main signal from RSI however they reworked some filters and optimized the EA for EURGBP, EURCHF, GBPCHF, USDCAD, EURCAD, USDCHF, CADCHF pairs.

Here is the Enterra Forex Star EA backtest on EURGBP for 2005-2009:


Click to enlarge the image
The price ($750) is too high for the robot that is indeed nothing new. I assume you will have the same good profits and the same spread problems here.

I have read very different reviews on this system. Some people say:

Stealth is without question the best trading system that I have ever used and the people at support are just the best.

While others say:

This system doesn't give any better results than just rolling the dice and picking a random trade.

The Stealth Forex system includes several indicators such as "Stealth BUY SELL", "Stealth LCD", "Stealth Hybrid". Do they really work?

On the main page of the site we see rather strange graph with the arrows on it. Lower we can see something even more strange - sell/buy indicator, "magic" LCD indicator and the "secret" hybrid indicator. Well, maybe it seems that it's really work. I answer you "NO, it's NOT working" You'll ask me why. Ok, let's try to explain.

The first. "Sell or buy" or "How to find a trend". I am sure, that sell/indicator works rather easy: it uses the moving average with a very small period, so it "catches" every change of the market. But it's right way to bankruptcy. Later I'll explain why. The second. LCD indicator. It sounds like LCD TV!) What's the meaning of this indicator? You know, I've been trading a lot, but even I can't understand why it it there. By the way, the creators don't explain it too! Maybe it's just a kind of moving average with a little longer period. The third. Hybrid indicator. I don't want to say long time about it. Better I just tell you that it's just a standard stochastic or MACD. Every body know that yes, it works. But only on history. The signals for enter must be in time.

So, I, made it tested, I draw conclusion. A set of strange, magic indicators is just a set of standard, well-known indicators in new appearance. They use the short period moving average like buy/sell indicator and suggest us to buy even on downtrend. It's a great mistake. They use moving stop-losses, that never be activated, but swaps will "eat" your deposit. And the main, that this system work only on history, but when you trade online, you will get system signal in hours, when it is already late. As a result, the the money flow out of your pocket.

The Forex Assassin came out on the market some time ago and planned as a "Forex Killer" killer...
Forex Assassin is a manual system, not a robot. It works on Eur/Usd, Gbp/Usd, Usd/Jpy, Usd/Chf pairs.
The good part is the entry signal is pretty simple, not based on template indicators; T/P and S/L are not based on scalping so system could be good long term. However on the other hand it has bery low number of trades (around 52 per year).

Result of the test:
EUR/USD: -56 pips
GBP/USD: +1 pips
USD/JPY: -56 pips
USD/CHF: +1 pips
EUR/JPY: +75 pips

Total: -35 pips

Forex goldmine website is selling 2 EAs: RoboMiner and GT-Shadow. The member area is pretty nice and content-rich with lots of vidoes, PDF, Mathematical proof etc. The creator himself is very active on public forums, such as Pipcop.

Lets start with RoboMiner review today. In future I will update my review with the opinion on GT-Shadow EA.

Robominer works on EURCHF and AUDNZD H1. The system opens several trades with very small lot size and no stop loss and keeps them until reaches the profit. Looks like there is no inner stop levels or indicators, it simply keeps the position open until reaches the profit. This approach looks very risky for me - even with 0.1 fixed lot the drawdown can be as huge as $5000 on 10K account!

The profitability is extremelly low. You should expect a lot of small winning trades but huge number of floating losing trades because they do not have stop loss. The bottom line: I would not recommend trading such system on real money: you can get very tiny profits with a chance to blow whole deposit...

Update February 2009: Okay, as promised I continue my review today with opinion on GT-Shadow. Here is the bold claim : "The GT-Shadow is like the RoboMiner EA on steroids. At its very basic settings, it can trade the forex market in exactly the same way as the RoboMiner.". okay, lets see this baby in action...

GT-Shadow comes with several presets and can trade several currencies. It can also trade Grid Weaver style on EurGbp H1. Grid Weaver trading is a standard Grid system when the EA builds a no stop loss grid and gets tiny profits with huge floating trades that can finally blow the whole deposit. However to be honest this Grid system is one of the best I ever seen among systems of this kind.

Regarding "steroid trading" on EURCHF H1 - once again same system trading 0.02 lot on 10K deposit making small profits with no stop loss and drawdown of 47%. For example current forward test shows a profit of 41.08 usd with a floating loss of -1782.76 usd... No wonder the creator trades only demo accounts in his forward test and does not trust real money...


Click to enlarge the image
One more bad thing - 1 year backtest is very slow and takes HOURS even on my super powerful 4-core processor PC so no idea how one can optimize this beast.

Update February 2009: Guys, as you know we are always open to discussion and welcome EA developers to share their own point of view. Today Jerry from RoboMiner got in touch with me and shared his opinion on the system. From his permission I publish all his words here so my readers will have better understanding of the Robominer.

Jerry: I want to thank you for reviewing the RoboMiner and GT-Shadow at forex-system-reviews.com. My partner, Bob, and I are the developers of both EAs. I do all the program coding while Bob works mostly on the theory end of things. I thought your review was fair, but would like to respond to your concern on the drawdown issue. We consider the lot sizing to be an integral part of the system in a way that goes beyond that relationship in most other systems. No one should ever be trading .1 lots with a $10,000 account. On just the AUD/NZD, the most lots that someone with that account size should be trading is only .05 lots. If that rule is adhered to, you will find the equity drawdown to be somewhat more moderate. In actual fact, Bob and I both trade the RoboMiner with real money. We are very conservative, even more conservative than the minimums mandated by the system, and yet are averaging better than 5% per month. You see, we are not trying to make huge gains. The system was intended to make an average of 4 to 8% per month over the long term. As you are aware, a person can become wealthy with those kinds of returns over the long term. And so, your observation that the profits are tiny is true. But I can assure you that those tiny profits add up over time. I like to use the example of a paddle ball, hanging from a paddle by a rubber band. Think of the paddle as your balance and the ball as your equity. The ball will move away from the paddle at times, and will also move towards it and even past it at times. But start walking up the stairs with the paddle, and even though the ball will be at varying distances from the paddle, it will always follow the paddle up the stairs with you. Your walk up the stairs with the paddle represents the growth of your balance over time. Yes, there are times when the equity is in drawdown, but, it eventually moves back up to meet the balance again. I hope this helps give a little background on what we are trying to accomplish with the RoboMiner.

A lot of members asked me to review Forex Terminator so finally I decided to buy and test it.. Salesletter reminds me fapturbo website, obviously they copied many marketing ideas. However there is big difference here - no live results are published on the pitch page which is clear red sign for me: do they really trade their system?

After purchase they will offer you to buy some EURGBP robot that looks like fapturbo clone and some scalping strategy guide, which could be good and maybe you can consider buying it however I was interested only in main system and skipped that.

The Forex Terminator trading system is based on several indicators such as ZigZag, Channel, SuperSignal etc. They provide a detailed PDF explaining how to trade manually using the signals from the Forex Terminator trading system: clear entry, exit and trading examples are provided.

However you know me, I never bother with manual trading anymore in the era of forex robots when you can automate all your ideas so I went ahead and backtested the Forex Terminator robot itself which turned out a big dissapointment to me.

The creators suggest to run it on EURUSD H4 timeframe. Take a look on 2003-2009 backtest: View the Backtest

I noticed they trade other currencies (reports shown on the salespage) such as USDJPY however I could not get any good results on them even when I tried smaller timeframes...

The conclusion is - the manual system could be good for professional traders only but if you prefer autopilot approach the robot is pretty dissapointing - you will hardly get a trade in a month and it will not bring you any good profits even long term.

Here is my review of the new EA from Paul Liburd with a funny name "Forex Transformer". I like "Transformers" movies however I have no idea what transfrormers have to do with this expert advisor. Maybe the creator was inspired by the "Terminator EA". I guess next time they will release SpiderMan Robot followed by X-Man Trader lol.

Anyways, Forex Transformer EA works on EURUSD M15. It is based on the number of indicators such as iSAR etc. The only parameter you can change here is trailing stop value. That's really weird - you can't even set the proper MoneyManagement!

The Forex Transformer backtest results looks strange - Backtest in 2009 looks bad:


Click to enlarge the image
I tested the robot in Alpari and Fxdd and did not get any good results.

This ForexAutoPilot EA was developed by Mark Copeland. To prevent any confusion it is just the same title, but not the same owner as the FAPS system. Mark's site looks really cool with a good package: green graphics and nice words about profits...Again nice backyard and luxury Bentley (that became a tradition on forex websites... I wonder why don't I have it ;) So I got really excited about it and decided to buy the system. Instructions were pretty nice too. But what a shame, I was really dissapointed with results. Take a look on the backtest of Mark's system:


Click to enlarge the image
It makes some profits in 2007 and then totall drawdown and deposit loss in 2008. You could better flip the coin...

I guess DestinyForex is made by Rich Henry, the creator of Conquest System (Protraderforex.com). Both websites look like clones. Some people say it is a scam but I have no evidence to make any claims so make conclusions yourself. For example you can read about Conquest EA here.

I had nothing but troubles with Destiny system. First I hate their "Polling Server" thing. That means that in order to work properly DestinyEA always has to connect to some remote server on the vendor's side to retrieve some information. I understand that is made for protection and "copyright stuff" but hell, why would we suffer from that? Connection to server problems caused numerous errors and failures of the expert advisor. For example it started to open a huge number of trades at the same time on one pair (without takeprofit and stoploss value) that blew away my account in minutes. I was lucky that was just a Demo. Maybe I messed up the system somehow or it works too unpredictably - I have no clue.

Take a look at my "experience": Click to view the results

And here is more. I was really shocked when right after purchase I got this message in the manual: "You cannot "backtest" Destiny. This is because the actual trading logic for Destiny runs on our servers."

How on earth will I trust the system if I can't even backtest it? That makes Destiny a total blackbox for me and makes me think that this whole "server thing" was created to hide the weakness of the system on the backtest.

Also I did not like the billing terms where you have to pay every month for using the system from $53.58/mo (even if you had a losing month you still pay fixed subscription) or give 995 usd right away for a total blackbox.

In conclusion I would not say that Destiny EA is a scam because I can't say for sure what caused my failure but I can say that if you want to have some hassles - this is the right choice for you. I am out.

Update February 2009: Scam alert and scam fact confirmed. Last actions of Rich Henry showed that all his company is a group of scammers. His subscribers were offered new so called "Destiny 3.32 Expert Advisor" which in reality turned out into stoled decompiled code of popular trading robot Fapturbo, renamed by the scammers. Beware!

Guys to be honest I am really tired of reviewing such systems that promise heaven and deliver nothing.

I got a lot of emails from my readers to review this new mostwantedforexrobot. I really liked their marketing materials: the prelaunch and all the materials looked very promising. The title sounds really compelling...

I could not wait to buy it... Well and when I did it I got dissapointed again: Real backtest results do not match results shown on the website.

Here is the full backtest of Most Wanted Forex Robot:


Click to enlarge the image
The Most Wanted Robot turned out into the most unwanted crap...

Forex-Breakout-System has FBS Breakout System Expert.
The entry signal comes on the borders of the horisontal channel formed on the picks of the first hours of the trading session. The idea looks similar to London Forex Rush system.
It also uses Gbp/Usd pair.
The good: it does not use the standard indicators which generally do not show good results.
The bad: EA performance is very poor on the default settings...

EA works very slowly and it is profitable only during the US session. I doubt it can show consistent results long term. Requires a lot of optimization.

Pipsleader has a lot of red flags - scam signs on the website. First of all they have stolen the graphics from the popular FAPS website. Take a look and compare images. I doubt if honest company would steal the graphics.

The system itself does not perform good too. It trades without a stop loss on so called "basket trading" system and generates huge losses on the backtest. It worked good only in 2008. You will get a log of huge floating losses here.


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Our reader Nigel wrote: "My problem is it opens so many trades in one direction before it opens the hedging trades that it could wipe your account out BEFORE it sets the hedge. It says in the manual that it opens trades with a zero stop loss and then manages them. However it doesn’t seem to “modify” the trade so you can’t see any revised stop losses in the MT4 Terminal window. I’ve asked repeatedly to Tom Geller what the SL parameters are and how they are managed but I can’t get a decent response, just the one that I’ve attached to this email and which was sent out a few hours after his “offer” went out."

Here is what Tom Geller, the president of Pips Leader, wrote in reply: Several of them specifically commented that it was opening long positions at the peaks and short positions at the troughs, etc. This is perfectly normal - the real issue is actually nothing more than a lack of understanding of the strategy being traded by the Pips Leader robot. Put simply, the Pips Leader robot is what is known as a "basket trader". The advantage of this type of strategy is that market direction is not especially important, only market movement. At some point, the combination of a shift in market price and an imbalance between the open long and short positions will allow the basket of orders to be closed and the target achieved. Until this occurs, there will frequently be a floating loss, however, that is a temporary situation but part and parcel of trading this kind of strategy.

Update June 2009: The 4xproject found out that Pipsleader is a scam. They have stolen free EA called Divergence Trader by Ron Thompson and resell it under Pipsleader name. Beware.

I dont have much to say about this Forex Rising robot. It looks like a fapturbo system clone trading the Asian market on EURGBP and USDCHF. The stop loss is around 45 pips and take profit is 10. It has wider trading session range than fapturbo how however the results are far from perfect. Even on the ideal spread of fixed 3 on EURGBP Forex Rising does not show good backtest results.

Take a look on the backtest results: Click here to view the EURGBP backtest

The bottom line: nothing new, one more crappy fapturbo clone...

Poison Robot website has several "red flags" - scam signs:

I have made screenshot of these red flags otherwise they will disappear after vendor reads my review. You can see the screenshot here: Red flags on Poison Robot site

1. First of all "Live statements" are not really live and updated manually by the vendor. When I checked the statement it showed 2009 May 28, 21:05 however it was 29May afternoon in reality.

2. He is trading DEMO account in Alpari (UK) Ltd not Live account. Live accounts have 4 digits in the account number. His account Account: 802239 has 5 digits.

3. The transactions are sorted by time however the orders: 50588304 2009.05.21 22:30 sell and 50588806 2009.05.21 22:31 are in incorrect order comparing to other transactions which of course does not mean anything however could mean that it was manually manipulated.

4. Vendor said "Poison Robot is NOT another scalper - which means that you can use it with any MT4 broker" however if you look through backtest you can see that most of the trades are closed within minutes or hours and TP=20 which means that it is still scalping. However I dont see anything bad in trading scalping methods.

5. The backtest on the website shows 100% wins. We found a holy grail lol? I guess every newbie understands that no system can generate 100% wins. That could only mean that backtest was simulated to fit the historical data - the only way to show 100% wins. The robot will never trade like that on the forward test and I believe this is misleading information.

The Poison Robot real backtest results do not match the vendor's backtest:


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The bottom line is - poison robot is not a scam, however it is far from perfect.

One more crappy collection of useless EAs for a huge cost... They sell several EAs based on Stochastic, Neuro Net and PSAR such as EA_High-Profits_EUR-USD, EA_EasyDay, EA_Big_trades, Unique_EA_EUR-USD_(Neural Networks) etc.

The systems were well adjusted to work on history only and show perfect backtest results misleading the trader and simply lose when you trade with them on a forward test.. Our readers have tried 4 of their robots and all of them never worked well. The creators will tell you to test the system for 30 days and then will never refund the money.

Beware!

To be honest I don't like Grid trading systems - usually they have no stop loss, they generate huge floating loss. They make tons of small profitable trades and then blow away everything taking the large loss. Gridbot is nothing different here. Take a look:

The GridBot backtest results look bad:


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Our forward test showed the similar picture.

The bottom line is -total crap with a good marketing which is totally cloned from fapturbo robot marketing...

The Forex Wonder website is made by Johan Ledger. I found the page very misleading - no real trading proof is shown and the trading results and backtest images are incomplete and a lot of information is missing in them - which is a clear red sign to me.

The backtest does not show a total loss so I won't call this product a scam, however it is a big disappointment to me.

Our good reader Brian Watt suggested to backtest the new Forex Mafioso system. One more losing system covered by nice site graphics...

As vendor claims in the manual "This software can run on any pair. But my suggestions are EURUSD, GBPUSD and USD/JPY. the best timeframe is 4Hour". Well, I have tried the system on USD/JPY and EURUSD H4 and failed on both. The balance curve shows slow deposit loss in 2008.

I have no idea what is wrong here but I guess the system does not work.

Take a look yourself: Click to view the backtest image.

So be careful guys!

Mixed feelings here. I'll just honestly report my experience, and you can decide for yourself.

The first day I ran the robot on my live account, my balance went from $18,000 to over $19,100; that was in 24 hours. I thought, oh my goodness, this thing is amazing, I'm so glad I found it, etc. But only a few days later, the news about Fannie Mae, Lehman's bankruptcy, etc. came along, the trends reversed, and I quickly found myself down $3,000 (balance was now about $15,000).

To make a long story short, at one point I was down over 2,700 pips, and no, that's not a misprint-2,700 pips of drawdown. That's total for the 10 pairs Don Steinitz suggests to trade. So, I decided to manually get out, and in the end took a loss of about $5,000.

But I must state in all fairness to Don and this robot, I did a post audit at the end of the month (Sep 2008), and found that if I had stayed in, I would have actually ended up with a $1,000 profit rather than a $5,000 loss.

Although this robot may produce profits when all is said and done, I just have to ask myself if I want to go through that kind of torture every month, experiencing almost incomprehensible drawdowns, then just hoping it comes back my way. When the markets "behave", this robot works great; it really is a beautiful thing to watch. The only problem is, the markets don't always "behave", especially now, and this robot has no way of dealing with a trend reversal other than just sitting there in drawdown waiting for the market to come back.

In conclusion, I'd say if you can stomach the drawdowns, it's worth a shot. But I highly recommend using extremely low leverage, I'm talking like micro lots, regardless of your account size. If I do end up trying it again, that's what I'll do...

Update November 2008: Recently Forex Robot trader took several serious losses due to its "end of month" closure strategy. Be careful!

Multi-Level Marketing, hound your friends to risk their money also.

Decent info, More of a hedge strategy with two different currencies. EUR/USD and USD/CHF. If you buy both, you are only gaining interest daily because the pairs are inverse. Win a pip with the Euro and you will essentially lose a pip with the CHF, but you are banking on the interest gain at 5pm daily.

The problem is that the pairs are not timed perfectly and can cause huge drawdowns unless you have good technical analysis skills to know when to get in.

Also, if the market is not trending, it is more of a break even approach.

Unless you are putting 100k or more, you don't really gain much on a day to day. Most people can do better just trading one pair instead of both at the same time.

Update October 2008: My small deposit was finally blown away by huge drawdown... You can make money only reselling this system to your friends by MLM scheme, not by trading itself...

Well... the website looks really weird to me: huge "overdesigned" flash header, large box images and strange colors, rain in header.. Looks like same designer as on "forex brotherhood"...

It seems to me these guys spent all their money to pay the designer and forgot to pay the good EA programmer...

Cause the robot is total crap again. Funny thing it works ONLY on the period 2008.01.02 08:00 - 2008.10.31 21:00 that is shown on the webiste... If you you try to run the backtest BEFORE or AFTER that fabulous period you will get only losses...

Here is the full backtest of Forex Boomerang:


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So if you have time machine and go back to the period between january and october 2008 you are going to make some money with it...

I would call this one "Forex Loss Seeker". One more helpless attempt to clone forexautopilot turned into new crap. These guys really went too far and even stole some images from FAP and the whole structure of sales letter :) I would not waste your time discussing their pitch page anymore, so lets get straight to the backtest of this "great" system.

Take a look yourself: Click to view the backtest image.

The numbers speak for themselves. Total loss again. System worked only in 2006-2007. Guys, it is end of 2008 now... Someone missed the train again.

Update: Today I got a message from one of my readers. Ken wrote:
The robot I recieved wasnt the same as the one you reviewed, or the one whose results they featured on their web page. It was a completely different robot. It was designed to trade the news releases with a straddle order above and below the price. The 1 year backtest results were positive, but only marginaly so. They had an 83% win rate, but their losses were almost triple the size of the wins. My concern is that these people arent just cloning one robot, they're cloning any robot they can, and trying to resell it as the Forex Profit Hunter. The bonus robot they included was an exact clone of the macd robot that comes with Meta Trader. I already contacted clickbank for a refund.