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FAP bots trading logic from Fapturbo is % crap if you are interested in bots check out forex peace army as they have reviews and live. A Reliable Forex Trading Robot That Generates Extraordinary Returns While You Forex Over Drive Reviews - www. Forex Over Drive - Forex Peace Army. The FapTurbo MT4 EA is a forex expert advisor. The FapTurbo automated forex trading software for the MetaTrader platform has been forward. NSE ELLIOTT WAVE CHARTS FOR FOREX Your home Desktop Central. Of scripting-modding that your unlimited access set of features like vetted by. It is the process of deploying, managing, and by clicking databases in Custom color thus, allowing you to connect at picture, click onclick Browse where Internet. To view Administrators to.
But I do know what is the best Forex robot to buys. Can anyone can give me briefly reviews about Forex robots?? Most robots, if not all, are designed to make money for the creators and not for the users. Forget about them and learn how to trade. Never buy a robot The best trading way is the manual one Never let it to robot, you will finally loss You must be a professional trader to trade in forex, if you are not, just forward it to the professionals according to the EURFXUSD site this is important points that you have to take in consideration.
Hehe, their loss. Those who fail to understand are doomed for failure. I wonder how many will write horrible things about forex trading and their broker after their robot robots their account clean. However, as Rambo said, learn how to trade first. I tried EAs with higher ratings but nothing worked well for me. So it is always better to do manual trading. Okay I gotta weigh in.
Robots are not a scam. Allthough there are plenty of scammers who sell robots. I just tried to google stats and percentages and without spending a lifetime on it I can tell you this. Obviously HFT or high frequency trading is certainly the current trend and as of a third Someone has to take the risk and just tell the world. So it does not matter if you have been trading Forex for years or just started yesterday, I am sure you will be shocked at some or even all of the things I am going to tell you here.
Is it easy to run a Forex business? What do others say about running a Forex business or being a professional trader? If you tried to run a business in Forex—I mean to sell an honest and genuine product, you would hit the wall the first day. Yes, that is no joke. I am not kidding. Now I have seen and know other people who have businesses online.
They teach various things. They teach marketing on Facebook, they can teach you marketing on YouTube, and they also teach how to create websites and start online businesses. They can teach you how to create eBooks and then sell them on Clickbank. There are hundreds and thousands of different business opportunities online. I mean just look at these categories on ClickBank Marketplace.
Each of those have several, or even dozens, of sub-categories too. You could create an app, write an eBook or create any other information product to any of those categories and just sell it on Clickbank. But you know what, I bet that the Forex niche is the most difficult one to sell something too.
Still wondering why? Now almost all of them claim to make you millionaires. Do they have verified trading record using Myfxbook. I am not talking about the MT4 statement uploaded to a website. These can be created in no time using the right apps or even Excel. It is not that hard for a programmer to create an app that can create fake MT4 statements, really. It is in HTML format which is really easy to edit. Let me check … just one site has Myfxbook verified results and that is the wallstreet-forex.
All the other sites do not have a live statement and they spend all of the time exporting MT4 statements, uploading them to the website, taking screenshots of those statements and then uploading them again to the website. Myfxbook then provides simple HTML code to add to the website. It saves hours of time and possibly hundreds of dollars for not hiring a website developer to upload all those files and create screenshots, etc. Does this make sense? These sellers will probably ignore your email if you ask them if they have myfxbook live results, or they will tell you they do not have time for that.
But actually everyone has 5 minutes to improve their business and their conversion rate drastically. Do you agree with me? So what am I supposed to think about that? Is this from some 3rd party strategy and myfxbook account? Oh, I get it, you just do not want to mess with the website visitors who are that smart and just want to sell your crappy stuff to people who do not understand what they are buying.
Just look at the fxflash. They have screenshots of myfxbook. Probably because it had very bad performance and they removed it and just took screenshots of the good trades. And fxflash. So that might be worth a closer look, but the fact that they use other scammy content on their website creates distrust in them. Actually I am even thinking it is possible to outsmart the mt4i. If someone has this type of verified results, but then fails to spend 5 minutes to add a myfxbook link, but spends much more time to take screenshots of myfxbook results and upload to the website, it just looks like something is not right.
It looks really suspicious to me. Or maybe those results on mt4i. That could be the case and I will talk more about this later. Next, there are lots of backtests and personally I never trust them. They are the last thing to look at when you trying to evaluate if some trading strategy has potential. Now before you start hitting me with emails saying that I am out of my mind saying that backtests are worthless let me remind you that I am a programmer and I know how this stuff works.
They have lots of backtests, but again, when we have a verified track record then all these backtests are just additional proof for many traders, because sadly lots of people are crazy about them and trust them like nothing else. So it was a smart move to add backtests here anyway, because people will ask for them for sure.
They also have MT4 statements uploaded on the website, but actually it does provide good trust in them because of the myfxbook stats. I mean I would never trust MT4 statements from the fapturbo2. So after all the websites I just would not trust any of those from the first 20 Google results.
It does look like a real deal there. Everyone has his or her own BS filter, but after I lost thousands of dollars trying countless trading systems, apps and trading robots online, I know my BS filter has evolved for sure. Maybe I am wrong, but for example, if you compare these offers with forexsignals. I even see that Nick McDonald, the owner of this project, opened a real money account for each of those providers and added myfxbook links to those.
This is just a wonderful additional proof I have never seen before. Now lets check the Forex Peace Army for these 7 sites. Or maybe you have personal experience with any of those yourself? So fapturbo2 on FPA has lots of reviews and comments from people mad about the product. There are complains of many different kinds: like the seller of FapTurbo2 mailing lots of affiliate links and having bad support. But in overall robot evaluation, these reviews sure add up to a final decision whether or not you would want to go and purchase that product.
I am going to tell you about one more scam. To be honest, I do not understand why no one shuts this site down. Yep, all of these belong to the same guys, or might as well call them scammers. And if you want more info on this scam just go to FPA and read reviews about this mt4fxrobot scam. An interesting fact here is that this website gives investor passwords to MT4 accounts and some of those accounts seem to be on quite reputable brokers like IronFX. So if they have cracked the MT4 protocol and give that false data with super profitable trading record then anyone could fall for that.
But the reason why they do not have myfxbook records is probably because myfxbook is not that stupid to accept data from any IP address and just has a list of IP addresses of all genuine Forex brokers. So lets take IP address that is given on that website which is I have my profile on LinkedIn. In other words, to become an IB Introducing Broker whose job is to bring customers to the Forex broker and get paid commissions for each trade the client takes on his account.
So they were all different people working at IronFX and they probably do not share information about what people they are contacting. So I thought it would be interesting to ask them the same question and compare their answers. So now I am totally confused. I also tried to contact their support team through their website about this IP and got no answer.
The ones you need are with the file extension. You could try to open them using the Notepad app, just do not change anything inside as to not damage the connection to your broker. Do not mind this if that was too confusing to understand for you, but the reason I did this is to illustrate that there is a really reliable and up to date source on where to find all of the IP addresses that a Forex broker uses. So I have found 14 of these. I bet the same is with all of these other IP addresses posted there.
I got no response or they just said they cannot confirm such information. I was surprised that all of these tools gave the same answer. Not I am not saying anything … but all this looks strange for sure. I am not saying that IronFX are scammers as they seem to have been around for a really long time in this business. So I was able to find that using Google and here it is. They do not have that many MT4 accounts there, but this one is showing huge profits with a really strange performance graph.
Now I am not adding an active link to these pages because no one knows how long they will be online so you need to copy paste them into your browser to open. It is a real money account on IronFX with 72, You know what this means? Everyone who bought this EA would already be millionaires if not billionaires. Man, it just looks silly how Mark Zuckerberg spent all these years creating Facebook to make a fortune.
He could have just used this robot and make much more money. Of course that was a joke. The rest of the months were significantly less profitable. Anyway, enough of this forex robot. I bet by now you already understand why every product in Forex is considered a scam at first glance and still many people fall for it as they are hungry for those shortcuts to quick riches that just does not exist.
Actually, they do exist and that is to scam other people that you are selling them something that will make them rich. Crazy, right? So how about taking different trading robot results and putting it on a scam trading robot website to fool people? Yep, that is possible and some scammers do this. Once I was a victim of such a scam. I do not want to talk much about this, because that guy really got abusive when I asked for my money back.
It was really something that got me worried, because I received scary threats to my family. So anyway, that website looked like scam and I knew that I might end up loosing money, but I still was very curious to try it. Not saying something means you are not a liar, but it is still not a fair approach of training. Anyone can teach how to make money in forex by giving examples of trade setups on a history chart, but only few can teach to do it right and to predict the future price movements.
I know there are a lot of names out there in Forex, but months or years later it comes clear that they have something to hide too. But the 2nd strategy was the opposite, which means it was WAS working wonderfully in April, but it sucked in March.
Are you with me? So basically in this example we just find 2 trading strategies that were working at different times. For example, a trend trading strategy will not be profitable when market moves in ranges and prices are bouncing between support and resistance, but at this time the range bouncing strategy will work just perfectly.
So ideally in April, when you see that the first strategy was profitable last month in March , you will be teaching people to use the first system. And then in May, when you see that the first strategy was no longer profitable in April but then the second strategy was profitable, you will be teaching the second strategy. We also do not know how it will work in the future, but many people do not care about that. They just care to teach and then leave, and of course get paid in the process.
When I met John Bollinger in one of his short classes, I understood that not everyone has an interest in becoming a superstar Forex coach. John is doing a really great job and I encourage you to learn from him. His book about Bollinger Bands is amazing as well. So I thought people who write books about Forex must be really genuine Forex coaches.
I mean this is not always the case. If we take a look at the best selling list of Forex books on Amazon we would find books that many people buy and read. However if you read the reviews, many of them say that the book is teaching nothing more than just some simple Moving Average crossover strategy, for example, or something similar. In other words the book seems to be written just for advertising purposes trying to sell some product. Now I know there are a lot of arrogant people just complaining about everything and it is most likely they will be mad and go to write a negative review while good people will enjoy the book and not bother to write a review anyway unless they are asked to do this.
It was a long and hard work for me to write the book, edit it, design a cover, format it according to Amazon requirements and then upload it to be available for public. But I guess if there are people who are good at this then they can hire a writer to create a 50 page book about any simple trading strategy just to hook the reader on some upsell later. In this way it does not sound like that much hard work if you do not care if your book gives anyone value.
Another thing that I would like to bring to the table here, since we are talking this topic already, is that many people who see my programs for MetaTrader try and attack them right from the start. They do not seem to bother reading about the program and ask me to send them some strategy tester results or some other crap reports that they believe will give them a reason to know if my app will make them millionaires or not.
They want this so they can know if they will be able to buy Versace shoes, expensive watches and diamond rings for their girls while spending time on a yacht it the Caribbean. When I created my first program for MT4 I did not know what I was doing, but I knew it should have some value for traders, because its idea was given to me by a Forex trader at that time.
From there more and more traders came to me asking to add this and that feature, make this app do this and that. Soon I realized that I created such a confusing trading tool that even I cannot really understand what the purpose of it was. I started to optimize it, removed some features that were not useful for most of the traders and just left those that seems to be popular.
On all pages that explain my tools I say that it does not work without human intervention and that you will need to set it up right to fit your needs, etc. In other words you need to be a trader to use my trading tools. You need to understand what you are doing, understand what you need and know why and how my programs will help you. It seems there are many people who are just curious about how they work and do not care if they make money or not. They are on a learning path, training themselves and getting self-education using apps, programs, etc.
Anyway, this story is not about my tools. What I wanted to say is that lots of these scammers really made the Forex market a crappy space to work in. Everyone who needs to get into this space needs to get over so much crappy stuff. I mean they will need to read tons of blogs and watch dozens of videos until they learn how to separate the right from the wrong. They will need to test dozens of trading systems, lots of trading tools and hundreds of indicators until they understand that there is no Holy Grail.
They will take trading courses and follow at least a couple of signal providers just to realize how fast they can lose money in Forex. Because of that many people lost trust in any Forex product at all. Speaking about the Holy Grail, I found this article the other day on Google. It was buried below dozens of crappy sites, but I found it and I really like how Jim Dandy just speaks his mind about the concept of Holy Grail. I encourage everyone to read that.
So anyway, he comes to me and rents a trade copier for a monthly fee and sells trading signals to a few dozens of customers. I speak with the guy by email, setup everything he needs to run my trade copier and do not even notice anything suspicious. He seems to be just another signal service with a funny domain name.
I email him again and this time even use additional email addresses that I have found on his website. No response either. I cannot give more details on this right now, because I did not get permission from that customer, but that is not the point. I did not hear another side of the story, but you know what? I shut down his trade copier service after a week and he did not get back to me either. I found some bad comments and reviews about that guy online too , so this adds to his bad reputation as well.
So my point with this and other stories is that there are so many people in Forex that are just looking to take your money and do not care about you in the end. There are so many people who run Forex blogs and websites, services and even Forex brokerages who are only interested in taking your money and they do not care how they will do it. If you are smart enough you will improve your BS filter and learn how to identify crappy products and sites.
Also it has an old MT4 statement from This robot claims it win So the reason why it shows only screen shots from the myfxbook must be that it does not work anymore and got pretty bad results on myfxbook. Now maybe they will end up earning good profit for others and become another phenomenon in forex, but proceed with caution, because most forex robots that come out of nowhere like this one usually end up losing and disappearing weeks or months later after refund periods are over.
No one ever sends you updates and information if a robot stops working, except your friends if they happen to use it. And yes, I mean promised, because they usually give you promises that will not likely be fulfilled or are close to impossible to deliver. If you are reading this post months ago after I published it, all these websites I talk about may not even exist. I doubt I am the only one with a Forex product that I care about. I am just frankly sharing my opinion with you about why it is hard to sell Forex products.
I also know what reaction you may get from customers that are upset if they lose money. Usually this happens when people start trading your system during a bad period, which of course no one knew was coming. This can happen to any system, even the biggest stock funds. Check out this article I wrote about the reaction of customers when your signal service goes into some losing months. I really hope this has given you some ideas and some warnings about what to look out for online with sales pages and flashy products.
It is hard to tell the good products from the bad most of the time. Never risk money that you cannot afford to lose. That is true both for funding your trading account as well as risking money purchasing a product.
Always read as many reviews as you can ; the more research you do the better. You will be able to save yourself lost time and lost money simply by reading reviews online. Remember also that you will need time to test out everything, and 30 days is rarely enough time for a proper test. I am also a Forex trader, a programmer, an entrepreneur, and the founder of ea-coder.
I have created two of the most popular trade copiers and other trading tools for MT4 that are already used world wide by hundreds of currency traders. Wow dude! You wrote a book! I really enjoyed the post and learned a lot from it.
As someone who has never actually tried to take peoples money by selling my code before I am unfamiliar with forexverified. I just posted a link to my tradefader on my site and left it at that… Imagine my surprise to see an EA that I wrote years ago and gave away because I wrote something better, in the top ten at forexverified. I guess I need to learn how to send them my latest ea to test with. Jim, I am always glad when my blog posts help people to learn something new.
Your post about Holy Grail is truly amazing. Hi Rimantas…you were very informative-though i also need to test you before trusting you-as you suggested.. So my question…; what brokers will you reccomend i trade with? Currently i trade with ironfx… thanks!!! At the moment I trade with Sensus Capital Markets and I am pretty satisfied, but I know someone who had bad experience with them as well.
There will always be a chance of a misunderstanding, error, or who knows what. Just signup for my newsletter to get it. That customer you refer to that got scammed by Joseph Fibonacci probably not his real name was me. You have my permission to say whatever you wish about our conversations, other people should really know about this piece of crap human being. He screwed me out of several thousand dollars. This guy was selling a trading course with a slick sales website, which the website has been taken down, and a trade copier.
After making the purchase for the trading course and trade copier, he never sent anything. It took me several weeks to get hold of him, only after threatening to open a case with BluePay the online payment method. His reason for being late was he was in the process of finding more people to help him with all the administrative stuff BS.
It has been several months since and I have still received nothing more except for the massive trading losses from his trade copier service. He simply does not respond to any emails or phone calls. Every month or so he sends out emails that says he is switching to a new trade copier and blames the trade copier for the poor trading results. He actually blamed your trade copier Rimantas in an update video, saying it was causing too many problems.
That is a bunch of crap. At one point this guy had 17 losses in a row through the trade copier. I have since taken up a fraud case with BluePay and they sort of admitted I was not the first person to have these problems with this guy. I have also noticed hat many of the websites he was using previously have now been taken down. Either way, I can handle the lost money but not everyone who may trust this guy can. It just really bothers me how blatant the scam was after you hit the pay now button and that I was dumb enough to fall for it.
Brandon, thanks for sharing your story. People need to know all about this and other scams. Again you have shared some great words of wisdom. If only everybody who is new to fxtrading read this article FIRST … how much money, time, effort and frustration it would save them. Rimantas WOW what a work of love. Thank you for doing such an article. Colin, I am glad you like my work.
I always unsubscribe forex or affiliate make money leads. Today I was going to unsubscribe yours as my habit, then just the title got interested. I also wonder, you have a better job coding EA, why sell something? Sell your time and code as freelancer and give something valuable for free?
These are some questions that instantly popup when reading any signal or Buy this EA type of website. Of course people look for holy grail and you can sell your book and signal service. But I wonder. I might not reply anymore, because I get at least 20 of these mails in my mailbox on a daily basis and its hard for me to find the good one out of them, so I just use unroll.
Nasim, thanks for sharing your opinion. I do agree that free is good. When I moved to bigger projects I quit coding EAs as I want to create mass products to help more people. I have been coding EAs since and it just got at that level when all I do is reply emails and write code, 12 hours and day. Chris, I think police would take action only if the scam gets huge and there will be millions of dollars scammed.
I have been in this Forex industry for years now and still this post was enlightening to me with lots of new information to learn from. I have bought EAs and Wallstreet Forex was one of a few that actually earned some profit besides, of course, your Daily-F. No affiliate tags included :P. Hiromichi, thanks for sharing your experience with us. He said that he was so impressed with it that he was going to include a link to it in his next blog post.
I will have to say that his post is quite lengthy but educational and well worth the time to read […]. Is this a paid subject or did you modify it your self? Anyway keep up the nice quality writing, it is uncommon to see a nice weblog like this one nowadays..
Most of blog posts are written by me, some get expanded by my writers, but usually the idea or shorter version behind the post is mine. Particularly this one was fully written by me, but edited by my writer to fix mistakes.
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