One of the Hottest Trends in 2009 - Forex Trading Robots or ‘EAs’

March 8, 2009

As you look around online surfing, I’m sure you’ve seen the many advertisements for Fapturbo, it’s one of many automated forex trading robots or EA’s (Expert Advisors) being sold online and probably the most popular among traders worldwide.

The appeal is easy to see. BIG money in Foreign Currency Trading and with this ’set it and forget’ technology, you simply open a forex account with one of the many suggested brokers, download the trading platform, download the robot and with a few steps, presto, you are now trading 24/7 hands free. Very tempting indeed! Especially if you’re new to the internet and trying to make money.

While there is a lot of truth to how these robots operate, you still need to know a few things BEFORE diving in with both feet. First off, these robots need to run 24/7, meaning if you have the trading platform running on your own personal computer, it will have to be left on 24/7 and you’ll have to hope nothing goofs up and stops your trading. Of course we know better if we’re Windows users that at anytime our machines can crash, freeze, or update and reboot all on their own.

The solution around this is Virtual hosting accounts. These accounts allow you to upload everything you need on a virtual server that runs 24/7 and you remotely login from your own personal computer. Now you don’t have to worry about leaving your own computer on 24/7. For a monthly fee, you can trade 24/7 without worry. The service I use is ForexVPS and I highly recommend them if you’re going to start trading using robots.

Next thing is just how ‘automated’ are the robots really? The ad copy makes it sound real simple doesn’t it? They aren’t bad, but you will have to do some learning and expect to put some time in to understand the difference in brokers, spreads, settings, etc. Lots of info in the forums to help you too.

I also have a Robot Report that you can read to gain a better understanding of what Forex Trading is and how the robots work.

If you don’t have the techy skills to set this stuff up, don’t worry. I actually created a service to help folks with this. You can read about that in the Robot Report as well.

Of course the bottom line and what most of care about, is do they really work? I’m currently trading both Fapturbo and Robominer on demo accounts and you can view them live anytime by just clicking the following links:

Both are working great with nice returns and yes, they run fully automatic and hands off now that they’re setup. Robominer is free to download for demo accounts, but you’ll have to purchase Fapturbo in order to gain unlimited free demo codes.

The service that I use to display my results is free. Just set up a free account for each demo that you want to display and then you’ll have a link to send folks so they can view your own account results.

If you’re interested in getting started in this arena and have questions or need a hand getting setup, just let me know.

Automated trading robots are just one of the many fantastic opportunities before us in this new year.

Talk to you soon,

Greg

Fapturbo, Forex Robots, Forex Trading, ForexVPS, Robominer

 |  Print This Post  |  Posted in Passive Income |