Why Fapturbo Doesn't Work & This weeks Forex Update
Sent Sunday, July 12, 2009
Why Fapturbo Doesn't Work & This Weeks Forex Updates
Hi Again.I am always wary of not wishing to bombard you with emails. Those of you who would like more regular updates send me an email and ask to be included on the LMT list -its not just LMT stuff.
As I have mentioned on many occassions every single forex robot that I bought went in the bin, In my opinion they all have a fatal flaw which means they can't work, long term. (I know some of you who do use them may be doing o.k over the last few months, but I never met anyone that did over the long term).
Next week I am going to buy the most expensive forex robot I have seen!
$1.000.000 Challenge
As I mentioned in yesterdays email, Charlotte is away at the moment. I will post the days pip total on the blog under $1.000.000 challenge heading and the full weeks results statement on the main site.
Lmt & general forex market update for the week ahead.
It is difficult to predict what is happening on any pair at the moment as so many are at important support or resistance and there is no clear trend on many. Best advice is to wait and see what develops & stick to pairs that are trending in the same direction on both the 4 hour daily charts.
After last weeks accurate prediction for the gbp I came back down to earth with a bump today. I have spent 2 hours studying charts on all time frames on 11 pairs and I can honestly say that I have no real clue for what the week ahead will bring !
The yens are probably the more interesting, especially the euro yen. There is an engulfing candle on the daily chart and the direction is down on both charts. I am still avoiding euro/cad which continues to spike and go sideways. Ironically cad (which I normally avoid) is holding above 78.6% fib on daily for last week,and trend has been up for a while.Could go up to 1.1800 or if breaks down to 1.1450
I will update you tomorrow as well as some additional advanced rules/ideas.
Fapturbo Evolution
Unless you live in a cave or you are not on any other forex mailing lists, you will no doubt have been inundated with emails (same slick sales letter, slightly reworded) for fapturbo's latest product. Fapturbo evolution. I am going to try it out.
I Know I have explained ad infinitum that forex robots don't work, but this one is different. This one will not be traded via a broker, but through Dukascopy. It will be expensive to buy and you need a largeish account with Dukascopy, so its not for everyone.
The reason why I believe this one might work is that Dukascopy are an ECN, NOT a forex broker. They are not competing against you in the trade. Most robots are traded via brokers. If they are successful (as fapturbo was before the makers sold too many) then unscrupulous brokers will conspire to prevent it from being successful.
I really can't do with all the marketing BS. If you make up your own mind and decide to give it a try, please can you do it here or throught the "forex products" page on the blog. It all helps to contribute towards the cost of running the blog.
My attitude to "amazing" new forex products is this: If it has a 60 day refund guarantee I will give it a chance. You never know. If this is as successful as they claim, I might be able to fully retire next year instead of main plan 2011 !!
What caught my eye amongst all the marketing emails was this little gem of a phrase
"What are the differences between all the crappy metatrader 4 robotsand this new java based platform one? Yes this is taken from one of those slickemails from the makers of the original fapturbo robot. Er isn't fapturbo mark I a "crappy metatrader 4 robot ? Guess what its still for sale See my review http://www.forex-fxtrader.com/Why-Fapturbo-Doesn%27t-Work.html
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