Account 1: Interbank FX +1693
Account 2: FXDD +1278
Account 3: FxPro +1441
Not bad huh? After searching around the internet though, I am inclined to use another broker for my second live account, FxOpen. In either case I will go live in February, I'm planning 500 USD each to Interbank FX and FxOpen to start. Stay tuned for the weekly 'live' results!
And some more exciting news, I was perusing the internet (very important in the pursuit of pajama money!) when I found an interesting website: http://www.new-forex-software.com/.
He gave FAPTS and FAPTurbo both a thumbs up, and also recommended two new Forex Expert Advisers, Piptronic ($130) and Pipzu ($100).
So I have added these to my arsenal. I started a new 500 USD Demo account with FxOpen, and was running FAPTS/Piptronic/Pipzu. All I can say is WOW. Piptronic was trading like crazy for two nights in a row and had the account up to $690! Unfortunately, the demo server went down, even as I am writing this its still down, and subsequently the account is blown. If it comes back up, I will restart the simulation and just present three days of data instead of five. I am also continuing the Interbank FX demo, but now with the added power of Piptronic and Pipzu.
Alrighty, so here are my reviews of the automated forex trading robots so far,
FAP was probably one of the originals, it's a bit out of date, but still brings success to many people. It was developed by Marcus Leary. It sold well, but suffered from poor customer support. A Charles A. Floyd, II started a Forex Auto Pilot user group (FAPUG) and later FAPWinner to provide support.
FAPWinner as stated, was started by Charles A. Floyd, II in order to bring customer support to FAP users. Membership to FAPWinner includes the FAPTS Robot, which is basically the same robot, but optimized with Charles' settings. Membership is great, as he provides EA reviews, weekly trading plan updates, mentoring sessions, and a forum. When I joined, new applicants had a choice of Silver, Gold, and Platinum memberships. Membership types have changed since to either supreme (one time fee of $600) or monthly (100 USD + $50/Month for twelve months). Note, FAPTurbo support has also been added! Anyone considering FOREX trading, I highly recommend joining this program, even if you opt against using the EA, the support is well worth it. The community alone will help point you in the right direction for the best EAs, EA settings, and which brokers to use and which to avoid.
FAPTurbo has proven to be an extremely powerful EA, you can check the 'live' results of this robot on three different accounts at the website, really cool! It can be traded on different currency pairs, unlike FAPTS which only trades EUR/USD, and can possibly double an account every month. Purchase of FAPTurbo also includes membership to the FAPTurbo community, where there is very good customer support and a forum. One of the cons I don't like about FAPTurbo is that it can only be activated for one live account, if users wish to use on more than one, then a separate license (at discount) must be purchased for each live account. This is not an issue with any of the other EAs I have purchased; they can be used on any and as many live accounts as one may wish. Another Con of this EA and others like it, though it is not actually the fault of the EAs, is that it is very sensitive to the currency spread. Currency spread is the difference between the bid and ask price of the currency, which is related to the broker, so it is very important to find a decent and honest broker. However, despite the cons, this EA is proving to be one of the most consistent in earnings. As of now the EA retails at $149; however, if you try to exit the website they will offer a $10 discount!
Piptronic WOW, this EA is amazing so far. One thing I like about it, or rather the developer, is NO affiliates! No going to google just to find website after website about how great this EA is from people who don't even use it, they just want the money they get from unsuspecting buyers. I have started a 500 USD Demo account with FxOpen (though the server is down now :() and hopefully by next week I can show off the combine power of Piptronic/Pipzu/FAPTS! There are actually two retail options, Piptronic 1 for $129 or the Advanced Package for $200. The Advanced Package includes three EAs: the original Piptronic 1, Piptronic 2 beta, and Piptronic X. I bought the Advanced Package, all the EAs are designed for the EUR/GBP pair, Piptronic 2 beta is basically the same as the original, except you can modify more settings, such as the trading hours. While I feel the EAs have potential, they are also sensitive to the currency spread and there isn't the support offered like that of FAPTurbo or FAPWinner. Though there are several FAPWinner users currently testing this EA and trying to figure out the best settings.
Pipzu I can't say much about the EA. It has similar features to Piptronic, a trend adapting technology. It is designed to operate on the EUR/USD currency pair and usually only makes 2-3 trades a week due to its market time algorithm; because of this, it is supposed to have least percent of losing trades, we shall see! Also, like Piptronic, I am not aware of any affiliate program. There isn't much support offered for this EA; however, several FAPWinner users are trying this EA out.
Thats all for now, in my coming posts, I will introduce two more methods I have discovered to help me earn 'pajama money'.
Till then, cheers,
Pajama Monkey
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