IvyBot Forex Robot

The buzz around the brand new Ivybot Pro Forex Robot this past weekend has been crazy and I have a feeling it is only going to get more insane today.

If you haven’t heard the creators of Ivybot (And a surprise guest) are going to be holding a series of live webinars today. You can find all the times and how to register here.

Also if you have not had a chance to check out the free report that has been made available you will also find the details here.

I have heard from several of my sources that we are in for a real treat with this webinar!  Here are a few of the important topics they will be touching on this afternoon…

* The IvyBot Trading Strategy

* Optimizing IvyBot for the best results

* Special Appearance by a Forex Pro (Always interviewed on CNBC, CNN, Fox, etc.)

* Education regarding the most recent Regulatory rules and what they mean to you

* FAQ Section

* Question & Answer Session

This really will be a great opportunity to get a sneak preview at IvyBot right before she goes live.

**Important Note**

I have heard that they are only allowing a certain number of people in each webinar for quality control reason (i.e. – Getting to people’s questions, etc)  So I believe they are going to open up the waiting room for both webinars this afternoon 30minutes prior to the actual start.

Now if you have been living under a rock the past couple weeks … let’s recap why Ivybot’s Forex Robot is completely different than others…

The secret behind Ivybot is that the system is actually four separate trading systems that work together.  This is unlike any other forex system on the market today.  Ivybot, and only Ivybot, has a unique system for each currency pair, this is why it is so profitable, and this is why it is the best system on the market.

Another key behind Ivybot is that their system is constantly changing, and they update and deliver their system whenever they feel a change is necessary.  Basically, you get a lifetime membership to the Ivybot system, receiving FREE upgrades to the most elite forex system ever designed.

Tomorrow morning the world of foreign exchange will be rocked by the release of Ivybot.  Tomorrow morning, Ivybot, the revolutionary system developed by geniuses will be downloaded to thousands of computers and will begin analyzing the markets in an attempt to extract as much winning trades as possible.

Again the webinar is limited to a certain number of people.  I know there is two of them so if one is filled up get registered for the next one.  Also I believe that they will be posting a recording of the webinar so you’ll be able to check it out if you can’t get into the live one.

Everything these guys do is a step above everything I have ever seen from other Forex systems, I hope you are as excited as I am!!

So don’t wait, make sure you get registered for one of these webinars:

Sign Up Here

We have tested FAPturbo back to ancient Egyptian times!

OK…maybe NOT quite that far back!  However my friend Dave has been running a series of backtests on FAPturbo and has produced these results:

I’ve started to backtest the strategies on all pairs, beginning with just a 1-month to 3-month period initially, as each test can take 20 to 30 minutes on my PC depending on the level of optimization included. Most of my testing has been on the scalper strategy as it has much fewer input parameters and works on a higher timeframe (15 minutes as opposed to 1 minute for the FapTurbo strategy) so the tests take less time to run.
However, even with this limited range of tests, some interesting results have been achieved.

1. Scalper strategy
Initial findings: using Scalper_MM set to true (for FAPturbo’s own money management) delivers better profits. For example, on the EURGBP pair, it delivered roughly twice as much profit as when MM is set to false, with all other parameters the same.
Changing the value of risk reductor only has an effect when MM is set to false (presumably because MM uses its own settings to control risk in each trade, so it ignores this parameter).
Increasing the lot size does what you’d expect: effectively multiples your profit (or loss) by the lot size used, so using lots at 0.5 will clock up 5 times the profit/loss values obtained at lot size 0.1. Drawdown is usually larger with a larger lot size, though not necessarily by the same multiple. For example, the 0.5 lot size delivered 5 times the profit on EURGBP for a drawdown that was approx 40% higher than that of the 0.1 lot size.

By the way, drawdown level is an important point to bear in mind. Although each of the pairs covered by the scalper strategy delivered profits over my test period, they all suffered drawdowns to varying degrees. I haven’t checked to see what the total would have been across all 4 pairs at any given time, but suffice it to say, that there is a substantial risk involved in consistently trading all 4 pairs at the same time. There’s no rule that says you won’t hit a losing streak of a few trades on all 4 at the same time, and, unless you have good money management in place, your account could be wiped out before the eventual winning trades come through and return you to profit.

Some parameters such as the MA filters had the effect of filtering out a number trades, but on the MA values I’ve tested so far, the filters did not deliver a higher percentage of winners, so the overall profit declined more or less in line with the reduction in the number of trades.

2. FapTurbo strategy
The FT strategy on EURUSD has not worked well during the past month (November 5th to December 5th) delivering losses (depending on settings) of between 1% and 13%.
Over a 3 month period, in the two tests I ran, it delivered a profit of 4% in one case and 230% in the other case. The difference in settings? In the first case, the number of lots was 0. In the second it was set to 0.5. All other parameters were the same (mainly default values). Of course, this is (so far) a very narrow sample of tests, so there are significant risks in drawing any broad conclusions from it. In particular, I think it’s fair to say that any trend-following strategy would have done well on the EURUSD pair between August and November this year, simply by focusing on selling short during that fall of almost 4000 pips. Now that this pair is consolidating, it’s much more difficult to find large winners.

Other points:
The FT team recommend not trading on Fridays, so I ran a few tests with the relevant parameter set to true and then to false to check the effects. The Scalper strategy seemed to cope OK with Friday trades, and in the cases I’ve run so far, the strategy ended up making a few additional trades compared to the non-Friday version, and on balance finished with a slightly higher profit.

The FT strategy had more problems related to Friday and delivered poorer results when Friday trading was enabled – but only slightly. It’s worth noting that in the test I mentioned above, where the end result was a net profit of only 4%, the strategy was up 80% at one point (after the first two weeks!), but fell to -38% in the space of two days’ trading with a string of losers (and neither of those big losing days was a Friday). It then soared again to a profit of over 60% before hitting another big losing day (again, not a Friday) and falling back to finish at just +4%.

The one encouraging aspect of the testing is that I’ve run 25 to 30 tests so far, and all except those for EURUSD during the last month have delivered a net profit. I plan to disable this strategy and focus only on Scalper trades, at least until the EURUSD is firmly in a trend again.

If you have enough PC power to run the tests in a reasonable timeframe, I’d recommend running some backtests of your own with differing combinations of parameters using the optimization feature in Metatrader to give feedback on which combinations work best. And please share your results with the rest of us!

Well, there you have it!  Thank you Dave for sharing your findings!

I am soft-launching the forum today [[applause]], and I will sending an email about that shortly.  I will post the address to the forum here on the blog today or tomorrow.

Lastly, I will have a little more information on the new VPS I mentioned tomorrow.  I can assure you that you won’t run into all of the issues that you are currently facing!

My friend, Dan, wrote me this email a couple days ago, and I found it VERY informative, so I figured I would post it here in it’s entirety:

I set up demo accounts at the same time on IBFX and ForexMeta (FXDD) and put FAPturbo on them at the same time.  I found that IBFX traded FAR more often with VERY good results (twice as good as ForexMeta). On a 2K account I traded just 1 minilot on IBFX (this would be .1 lot on ForexMeta). In addition I traded only the scalper and only on EUR/GBP and EUR/CHF. I find it more attractive to use the scalper only and the lots you may have otherwise traded on the long term just add them to the scalper instead.

The IBFX demo made 7.2% gain in 5 days with negligible drawdown. That would be 29% per month and only using 1 minilot. When I go live on $2,000 USD I will use 3 minilots each on the eurgbp and the eurchf. That should yield about 90% per month.

The largest drawdowns of those 2 pairs is the EUR/GBP since it’s about $1.50 per pip per minilot. So with a 110 pip stop the stop loss per minilot would be $165.00. Trading 3 minilots that would be $495.00 loss each time the stop loss was hit on the EUR/GBP. In back testing the EUR/GBP only hit it about once every 3 months. The EUR/CHF is roughly half those figures.

There is just no need to mess with the long term strategy and it’s complications and drawdowns. In back testing it hits its 500 pip stop loss at least 4 times a month.

Since I am writing I will make one other comment. Communication with ForexMeta is absolutely HORRIBLE. They don’t answer the phones, they don’t return phone messages, they don’t return emails, and most of the time live chat is not on. The one time somebody actually got on live chat with me they were very brief and jumped off before I could even ask a follow up question.

So, there you have it! Thank you Dan for the valuable info!

I finally went live today! I put exactly $500 into my IBFX account, because I felt that represented an amount that most people could afford…however, once this takes off I am going to be adding more for certain.

Another thing that is coming down the pipe soon, is a BRAND NEW forex VPS service. A friend of mine is working on it as we speak! I will keep you posted as this develops.

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See FAPturbo’s Live Trading Results Here

 So I am now officially 10 days into my test…and I am FRUSTRATED!! I have NOT made a SINGLE RED CENT on FAPturbo!!

I am more ticked than a swiss watch…OK…I admit that was lame.

So, why am I SO upset?

I am frustrated because when I submitted all the paperwork to the forex broker I chose (IBFX) somehow my paperwork was misplaced, so I am still not trading LIVE! The reason I decided to use IBFX instead of ForexMeta (the one FAPturbo suggests) was because they had a better spread AND because it was the main broker that the guys at FAPturbo used.

So…I am NOT upset with the FAPturbo, but simply that the only money I am making is imaginary!

You may be thinking, “So, how IS your demo account?”

I am glad you asked.

My current balance on my initial $3,000 USD demo account is now a whopping $3,962.11 USD! That is a svelte 32% in only 10 days!

In the spirit of honesty I HAVE recently had some trades that lost money. One trade lost $3.33 yesterday and today I lost $1.60. I got over the loss pretty quickly though!

OK. Here is the BIG issue that EVERYONE had been talking about. Drawdown. As many have complained, I have also had some trades that went negative before closing. FAPturbo has this unique thing of going long and short on EUR/USD in long-term mode, and it can cause heart palpitations because you see one trade going UP and the other going DOWN.

That being said, I still have not had any major losing trades. Here’s why. FAPturbo by default will close out all outstanding long-term trades at the end of the month. If I had that setting ON I would probably have been back to square one with my account. But, I shut it off, so my trades that were in drawdown did NOT close at the end of November! In fact, two of those trades already bounced back and closed at $140 each.

If you are interested in tweaking that setting it is: FAPturbo_CloseAfterXMonths. If you set it to 1 it will close every month, if you set it to 2 it will close every other month and so forth. If you set it to 0…it shuts off.

Well, that’s it for now. If you haven’t picked up your copy yet, please click HERE.

Oh yeah, don’t forget, I will be launching a new forum in just a week or two, and you won’t have to pay!

FAPturbo

drumroll please

I have been trying to find something wrong with FAPturbo, and so far I have been unsuccessful. I know that some people have a drawdown and have been bummed out about that, but I had some in drawdown too and so far every trade has closed profitable.

The other problem people mention is that they aren’t making any trades. I have mentioned this before, but the manual states that it may take a few days for FAPturbo to start trading…unless it was not set up properly.

My current demo account is up to $3,745.28 USD (on a $3,000 account) after less than a week. That is 24.8%! And to think that I was satisfied with Wachovia’s puny interest on my savings account! Most people I know would be happy with a 10% increase a year! Especially in this economy…so, how about almost 25% in a week?

Needless to say, I am ready to go live. So, once my account is trading I will keep you posted.

In the meantime, a friend of mine went ahead and took the plunge with a live account. Here are the results on a $2,200 USD account with REAL money:

2008.11.26 22:00 buy 0.10 eurgbp 10.73
2008.11.26 22:49 sell 0.10 eurgbp 9.21
2008.11.26 23:13 buy 0.10 eurgbp 12.26
2008.11.27 00:02 buy 0.10 eurgbp 12.26
2008.11.27 00:13 buy 0.10 eurgbp 7.66
2008.11.27 01:25 sell 0.20 eurgbp 12.27

That is 2.9% with 6 trades on 1 pair in only 2 days last week. Not too shabby!

Onto other things. Due to the great response I have decided to launch a forum in the coming days. The question on your mind is probably, “How much will it cost?” Certainly the information could be worth hundreds or thousands every month.

The cost will be…{drumroll please}…FREE! {applause}

I will keep you updated when this all takes please, so if you haven’t signed up for my email list, please go ahead and do that.

Is FAPturbo a Money Machine?

 Well, FAPturbo is cranking away!

By the end of Thanksgiving Day I was up $466.80 on my $3,000 USD demo account! For those of you that care about math, that is 15.56% in only a couple of days!

I know of several others that are up as well, and I know of one person that already started trading live and has a 3.5% profit!

I am considering tweaking my settings even further, and even switching FAPturbo’s money management back to “true” but changing the LotRiskReducer to a higher number. If anyone has done this, please let me know how it went.

I was notified by FAPturbo that their price is going to go up to $149.95 USD instead of the current $97. I think that the new price will start on December 1, so if you are still on the fence now is a good time to snag a copy.

FAPturbo Order Page

Onto other things…due to the huge response that I have been getting from this blog about FAPturbo I am considering starting a forum for everyone to discuss FAPturbo (and other robots) and exchange settings and so forth. So, please let me know if this is something that you are interested in and if you think I should charge for it. The only reason that I am thinking about charging is to keep people out that aren’t serious about trading or they are just wanting to give bogus results.

Have a great weekend!

 Happy Thanksgiving!

I hope that you had a wonderful Thanksgiving, we really have so much to be thankful for!

So, the question on your mind is…how is FAPturbo doing today? Well, for me I am up to $51 profit. Yes, it is not huge, but it is getting close to the 2% mark in only two days! I won’t complain about that.

I did tweak my settings some by recommendation of my friend, John.

His settings were basically the same as mine except for one small difference. He had Scalper_UseMM set to “false” and I had it set to “true.” I did that because I wanted FAPturbo to manage my money. However, John’s account had 14 trades with a total of $146.36 profit! That’s a whopping 4.8% profit in 2 days!

Needless to say, I changed Scalper_UseMM back to false!

On another note…I have been hearing rumors of people doubling their money and such, but I will caution everyone to BEWARE! Many people out there will lie to you to get you to purchase the software through their affiliate link.

In the spirit of disclosure, I do get a percentage if you purchase the software after clicking on my link as well…so please click away! Click Here For Info on FAPturbo.

The one difference is that I will only report the TRUTH of my own results to you. I am not going to give you some baloney to get you to buy this software. If my results are crap, I will tell you that it is crap! In fact, I posted one of my friend’s slightly unfavorable results yesterday. If you decide to purchase it, I do appreciate the support.

I assure you that any results that I post of my own or one of my friends is 100% legit. I guess I just felt that I needed to clear that up…maybe the turkey is going to my brain.

Here’s the scoop. I purchased FAPturbo yesterday. I decided to go with the Virtual Private Network version, so I don’t need to let my computer run all the time. The only problem was that they said it could take up to 48 hours to setup! Rats.

In the meantime I decided to set up FAPturbo to run on my local machine. The installation was very straightforward and they even had cute little videos to guide you through it. I went with their recommendation of ForexMeta for the broker.

After reading the documentation and going through the videos you will quickly see that they have two strategies for trading. Scalping and Long-term. The scalping takes small trades and tries to profit only a few pips and the long-term tries to go for larger movements.

I decided to use the smallest demo account, $3,000 to test the system. I opened up four currency windows, and loaded the scalper into three of them and the long-term into the other one.

It soon became a case of hurry up and wait. I watched my screens closely, but nothing happened. So, I went on with life.

When I checked it in the evening I realized that EURGPB had in fact made three trades!! Woohoo, now we’re in business! They all closed profitable, and now I have a whopping $3,021.41 in my virtual account…but I’m certainly NOT a millionaire yet.

If you do the math you will realize that it IS a 0.7% increase…which it about the amount that my savings account it paying yearly!

A friend of mine who also purchased had a slightly different result. His tests with scalping initially lost money, but his long term with EURUSD made money.

I think the moral of this story is…it’s still a little too early to tell how well this will do in the long-run.

If you purchased the software, please feel free to let me know your test results.

Click Here For More Info On FAPturbo