Recommended Forex Expert Advisors – Review of Top Expert Advisors

2009-04-27T00:02:00.000-07:00

Since there are so many forex robots sold on the market, we decided to review some of the highly recommended forex expert advisors. There is a set of criteria which we use to review these products. In fact, we applied them on all 14 of the expert advisors we came across. Here’s a summary of the testing criteria which you might be familiar by now if you read our previous post:

1. Accuracy of buy/sell signals and recommendations

2. Complete automation

3. Profitable Trades

4. Safeguards

Based on this set of criteria, we were able to conclude that the following forex expert advisors passed the test and not only that, did well in each aspect. All run on the MetaTrader4 platform.

No.1 – FAP Turbo

FAP Turbo developed by Steve Carletti, Ulrich and Mike, is in a league of its own, ahead of its competitors. So far, this is the only expert advisor that reveals their live trading report. If you visit the site now, you will notice that.

We like the impressive track records of its backtestings. During the period of 1999 to 2008, the software made 9645 trades and out of that, a whopping 96% was achieved. Profits were up by 50 times. The drawdown is also low at 0.35%.

While backtestings are never as accurate as live testings, its users have been able to see marked improvements in profitability. In fact, it has a huge following with 18,000 traders using this forex expert advisor to make trades daily. Many are able to achieve a 20% to 30% return on an average 20 day window.

There are 2 main trading strategies adopted by the FAP Turbo program, short-term scalping and long-term trading. Each strategy is specially designed for specific currency pairs within a timeframe. Short-term scalping works best on the M15 timeframe for USD/CAD, EUR/CHF, EUR/GBP and GBP/CHF pairs, whereas long-term works best on EUR/USD M1.

The safeguards such as profit filters and stop loss measures make it a full-featured expert advisor.

No.2 – Forex Megadroid

Forex Megadroid is the latest forex expert advisor to arrive on the scene. Developed by Albert Perrie and John Grace, two experienced forex traders with a combined 38 years of experience trading forex for banks, this powerful software makes use of RCTPA.

RCTPA is the acronym for Reverse Correlated Time & Price Analysis. In layman’s term, what it does is it actually predicts what is going to happen in the market within the next 2 to 4 hours, based on current and past market conditions. This system has a successful predictability rate of 95.82% since 2001.

The interface of the forex trading robot is intelligent and user-friendly. And its quick market adaptability makes it a highly versatile expert advisor.

No.3 – Forex AutoPilot

Forex Autopilot is developed by Markus Leary and his team of forex traders, based on profitable trading strategies that have worked well for them over the years. There are altogether over 20 indicators provided by the software such as moving averages, strength or resistance indexes, Fractals, DeMarker, Alligator and so on. You can even configure it to include the Ultra-Trend indicators.

Forex Autopilot has also demonstrated a high level of profitability in its backtesting results, similar to FAP Turbo. After all, FAP Turbo runs on the same engine as Forex Autopilot but is the next generation class of expert advisors with enhanced features.

Forex Autopilot is offering a limited-time discount of 75%. At its current price of $99.50, it is a steal.

Recommended Forex Expert Advisor

2009-04-26T23:59:00.000-07:00

Are you looking for a recommended forex expert advisor? Here are some tips to get you started. Everyday, we see more and more people turning to forex trading to make some extra cash. For those who are able to profit consistently, they are fortunate enough to turn it into a full-time job. But there are some trade secrets, what traders call the “secret sauce” behind their trading successes. And that secret sauce is actually a good forex expert advisor.

In order to know how to find an expert advisor that can meet your trading needs, you will have to first understand what it does exactly and what are the functions or features to expect from it. Such software is also often called a forex trading robot. They all mean the same thing.

Going with a recommended forex expert advisor by forex experts is the safest way. Here’s a selection criteria:

1. Accuracy – A good forex expert advisor will be able to provide accurate signals of buy and sell calls. This can be seen from the successful results of its current users as well as its backtesting results.

2. Automation – A top notch expert advisor often allows you to automate even the buying and selling so that you only need to determine its initial settings.

3. Successful Forex Trading Strategies – They must have successful forex trading strategies built-into their programs such as 9 EMA Entries, Parabolic SAR trading, etc. This depends on the creator himself. More often than not, successful traders create these expert advisors to follow their trading principles and strategies so that all their transactions can be put on autopilot.

4. Proper Safeguards – Since the forex expert advisor is trading with your money, having proper safeguards is crucial as you do not want to risk losing a huge chunk of your investment capital. One key aspect you should always look out for is the drawdown that the expert advisor is configured for. Drawdown refers to the percentage loss in value before it bounces back to its original investment capital size. Anything higher than 15% is considered risky!

In our next post, we are going to talk about some of the most talked-about forex expert advisors in the market. These robots have been making successful trades repeatedly for their users and are definitely highly recommended forex expert advisors.