Review of Automated Forex Trading Softwares and Autopilots

2008-08-10T08:30:00.000-07:00

Hello fellow traders, my name is John Brown and I welcome you to my blog. I am convinced you are here after trying out many scams forex programs, or you are just starting out.This was my reason for building this review page so as to share my various experience with traders who are thinking of buying automated forex system in order to improve their trading. Unlike before, my trading has improved significantly, and I am making a couple of grand monthly trading forex full time. but not without a cost. I am trading quite successfully in the forex market although I am not a professional trader. I now know something which I didn't know before, most of the automated forex software out there are scam. But the truth is that as a beginning or intermediate traders, we need proven systems that will consistently make us money, while we gradually sharpen our skills to become professional forex traders. But before then, how do we know scam products from genuine ones? That is why I set up this blog to prevent innocent traders loosing their hard earned cash not only on these scam products alone, but also prevent situations where traders get their trading accounts blown in their faces using these scam systems. The programs listed below are the only ones that seem to work for me (and still do) in order of profitability . Should you have different experience do not forget to let me know so that I can review your experience, make necessary comparisons with my own results and effect necessary updates here.

Ranking: 1: PipMax! Expert Advisor
Added: 03-07-2008
Usability: 8/10
Value: 7.5/10
Support: replies within 24 hours (tested via 5 E-mails)
Bonus Value: 4.5/10
Results: 9/10
Profitability: 9/10
The Good: The Software so far gives best results for me.
The Bad: Bonuses will most probably be useful to newbies.
URL: http://www.pipyard.com

REVIEW: This is one product that really surprised me. The owner of this software, Michael Miller never made outrageous claims that his product will make you rich overnight. This really impressed me as most of those scam forex software claim they will turn you to millionaire overnight. Professionally packaged site and all, that of course wasn't what I was looking for . After making payment of 97.00 USD, I then downloaded the program and the bonuses.The bonus pdf file in my opinion is not what I will hold in high esteem. The content though informative is what one can get free online doing some smart google search.

The program itself, and that is where the meat is,is quite small and at first glance very simplistic. However, the results is what really got my heart racing! I netted 60 pips(600 cool dollars) in my first trade. My second trade made me 25 pips. At the end of that first trading day, I ended up with 115 pips, winning 3 trades and loosing just 1 trade. One other thing that I noticed is the risk/reward ratio used by the Advisor. For every pip I risk I gain 2 pips, this is good for my account.The 2nd day I made 40 pips profit after I shut down my system after the New york session.

At the end of the week I was +250 pips up, 2500 USD in human language. Overall,this is the BEST program I have come across. Its small & simple. Forget about the bonus. Generic stuff.. but the results are quite astounding. I am giving it a straight 9/10 stars.

Ranking:2: Forexeasystems: EA Shark
Added: 10-06-2008
Usability: 7/10
value: 7/10
Support: they did not reply my email in 3 days
Bonus Value: 4/10
Results: 7/10
Profitability: 7/10
The Good: Results good and really encouraging.
The Bad: Hard to activate. Bad customer support.
URL: http://www.forexeasystems.com

REVIEW:I would like to review the EA Shark 4.0 Ultimate by ForexEasySystems. First of all, the system has rather strong protection features and I had a hard time with activating and using the strategy tester. However finally I was able to perform a backtest on history of this EA. Results really amazed me.The system is based on signals of several standard indicators such as: MACD, Stochastic, SAR, Momentum and it uses fixed stop loss. Some people say that I am too critical in the review of forex systems and that most of my review here are bad. Yes, I am critical because it is my obligation to give unbiased and honest reviews. However I have nothing to say bad about this EA Shark and its creators. Good work, guys!...

Ranking:3:Forex-Killer
Added: 05-05-2008
usability:6/10
value:7/10
Support: Replies within 24 hours (tested via 3 E-mails)
Bonus Value: 4/10
Results: 6.5/10
Profitability: 6.5/10
The Good: The sofware can be profitable with proper MM
The Bad: The bonus books are not very detailed,maybe good only for newbies, not for experienced forex traders.
URL: http://www.forex-killer.com

REVIEW: Sometime ago I found a site stating that Andreas Kirchberger developed a system which generate forex signals. I decided to give it a shot. After purchase I got the download link and received the zip archive containing program with several instructions ebooks. First impression was fairly good - the program looked simple and the bonus "Forex Learning book" was relatively detailed. Anyway I decided to give it a try on my FXDD demo account the same day. First trade was loosing -40 pips, got the stop loss.
But I did not give up and continued my test. I was really suprised next day after checking my trades - signals work but with proper money management.I made 89 pips! in 4 days. I think using proper money management your can get good results with forex-killer signals.

Ranking:4: Range Trader
Added: 03-06-2008
usability: 7/10
value: 6.5/10
support: Replies within 36 hours (tested via 2 E-mails)
Bonus value: 5/10
Result: 6/10
Profitability: 6/10
The Good: Good EA with honest results
The Bad: Low risk but low profits, recommended
for safe trading.
URL: http://www.fellowtraders.com/rangetrader.html

REVIEW: Many readers asked me to review this website; so finally I decided to write my short review about Range Trader by Peter Parsons. I found Peter a nice and helpful guy. His system was especially recommended for the EUR/USD trading on small lots with good number of 94% winner trades. Some time ago he released RangeTrader-Phase-Two. You wont get 300% here but if you are looking for safe trading with low profits (from 3-10% per month) and low risk - this system could become good solution for you. (anyway I prefer systems with higher profits)

Ranking:5: ForexAutopilot
Added: 03-11-2007
usabilitiy: 5/10
value:4/10
Support: replies within 36 hours (tested via 1 E-mail)
Bonus Value: 2/10
Result: 3/10
Profitability: 3/10
The Good: Site and instructions look good
The Bad: Total loss: You could better flip the coin.
URL: www.forex-autopilot-system.com

REVIEW:This ForexAutoPilot EA was developed by Mark Copeland. To prevent any confusion it is just the same title, but not the same owner as FAPS system. Mark's site looks really cool with good package green graphics and nice words about profits...Again nice backyard and luxury Bentley (that became a tradition on forex websites, I wonder why don't I have it) So I got really excited about it and decided to buy the system. Instructions were pretty nice too. But what a shame, I was really dissapointed with results.

Unbiased Review of Forex Trading Systems Autopilot

Review of Automated Forex Trading Softwares and Autopilots