Wall Street Cloner is a relatively new service being marketed to those who might be in the market for a Forex robot EA but it is not a robot in itself. Instead it is one of a new crop of “live signal” services that also call themselves trader copier services. In other words your trades are based on the advice, or signals from, human Forex traders rather than based upon the strategies of an AI robot. But is Wall Street Cloner really a better option than a decently performing Forex robot?
Monthly Archive: October 2011
If you’re looking for a new Forex broker there are several ways to choose one. The best way is to read Forex brokers reviews, which will tell you key information about each broker at a glance. All it takes is for you to do a little homework before you plunk down your hard earned cash. We’re going to show you that choosing your Forex broker is actually quite simple. Follow these 5 tips and you’ll be successfully trading Forex online in no time at all.
To begin with it is important to understand the FX Secret Signals is not your usual Forex robot. In fact it’s a very different concept of an automated EA altogether for a number of reasons not the least of which is cost. Up front I can tell you that FX Secrets is, in the long run, quite a great deal more expensive than many other Forex robots. The question is of course what can it do that other EA s cannot?
From the minute you hit the Forex Bullet Proof sales page you notice something a bit different. The copy is clever, it does not scream out about this EA being able to gain you a lifestyle full of Lamborghinis and big houses on private islands. It actually offers a fairly straightforward explanation of why the developer believes that his EA works. Refreshing, but good copy writing does not mean that you have created a great Forex robot, only that you hired a good writer. So how does Forex Bullet Proof really stack up against an ever growing field of EA...
Million Dollar Pips is one of the newer entrants onto the Forex robot scene. The developer – one William Morrison – admits on his sales page to being a software developer rather than a seasoned Forex trader but also claims that his software knowledge combined with 18 months of research and testing – both demo and live – has resulted in an EA that is hard to beat and easy enough for the absolute beginner to use successfully – but does Million Dollar Pips performance actually back up his claims?
A great many of the Forex robots available today can only be used to deal with one or two currency pairs – usually USD/GBP and/or USD/EUR. That is not the way many successful “live’ forex traders like to play the game though, ask many of them and you will find that they like to deal with at least four. FAP Turbo is an EA that can deal in up to five. But is it right for you?
Ask anyone who has much experience in trading on the Forex market with an EA robot and many of them will quickly tell you at least one story about having purchased – or knowing someone who purchased – a Forex robot that turned out to be a complete dud, despite having a great flashy website and some decent looking backtesting numbers. Leo Trader Pro claims to very different, but is it really?
These days as the interest in forex trading has exploded there really are dozens of EA s out there, all of which of course claim to be better than their competitors and a sensible person, whether they have forex trading experience or are just getting into the game will be best served by looking beyond the inevitable hype on the sales page to what each EA can actually do and how it has performed in the past. The Forex Megadroid sales page makes a lot of very lofty claims but the question is does it live up to them?