Forex Megadroid Or FAP Turbo?
Hi, I'm considering getting one of these to start off my forex trading. I just want to know which is better, Many say megadroid because of all the back testing but im not sure. I'm going to start off with $1k than see if it can double it within a month.
I've neever done well with online businesses especially selling things. That's why I just want to trade currency on forex. I figure I'm either going to make money or lose my money but either is better than not doing anything.
I would recommend not getting either of them. The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.
There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called "Zboy227" who says "I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227." The "/Zboy227" tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.
There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner's luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.
I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy's robot is a scam, but their robot works. If you do a web search on the words "forex robot" and "scam" you will find a lot of sites saying their competitors are scams.
I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.
Filed under: forex megadroid
Like this post? Subscribe to my RSS feed and get loads more!
I don’t know anything about these two in particular, but "forex robots" seem to be the latest scheme to separate people from their hard-earned money. In my opinion, no "robot developer" in their right mind would sell their robot on the Internet if the robot was consistently effective — they’d start a fund and trade it themselves.
One further warning — many "fx products" seem to be gaming Google’s search engine, indirectly paying others to put up dozens if not hundreds of "blogs" that offer paid "reviews" encouraging you to buy the products in question. You should be very skeptical of any "unbiased" reviews of any FX products on the Web, especially if they have a link to the "reviewed" product, which indicates strongly that they are receiving a commission from the "reviewer". (Google gets paid commissions, as well, when people click on the links on their search pages.)
See also this advisory from the CFTC:
http://www.cftc.gov/opa/enf98/opaforexa15.htm
References :
I would recommend not getting either of them. The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.
There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called "Zboy227" who says "I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227." The "/Zboy227" tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.
There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.
I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words "forex robot" and "scam" you will find a lot of sites saying their competitors are scams.
I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.
References :
http://www.cftc.gov/opa/enf98/opaforexa15.htm
http://www.cftc.gov/customerprotection/fraudawarenessandprevention/fraudadvisories/fraudadv_tradingsystem.html
Keep your eye on FAP Evolution (these are the same guys that developed FAP Turbo).
We have also been having good results with IvyBot.
Does anyone else have any experience with Forex Derivative?
Megadroid does not trade very often, but does have good results when it does trade.
Have you considered diversifying by using multiple robots?
I have a couple of ideas for you.
To your trading success!!
Paul
References :
As far as reputation and support, I’ll go with FAP Turbo. More people are trading with it, and you’re likely to get more tips using it.
I strongly advise that you concentrate on FAP Turbo’s "Scalper" strategy and simply leave the "longer term" strategy turned off! The Scalper trades on the four quite weekday nights to avoid volatility, thereby minimizing risk and returning consistent returns.
References :
http://fapturbosettings.podbean.com/2009/08/25/getting-to-know-fap-turbo/