Stop! Before You Continue…
Filed Under (Journal) by Casey on 29-07-2009
Tags: Automatic trading, eBook
This is the bomb ye’all… I have to thanks Kirk for leading me to this link…
Before anyone or everyone wants to start pursuing automatic trading… everyone should read this. Kirk lead me to read about this guys site Review Everything Forex owned by a Daniel Fernandez. I believe he is a veteran to all these automatic trading stuff seeing how he has started the site 2 years back…
I have not fully read his articles yet, but the first impression was that, he reviews EA or rather websites on his site without any fancy pancy blah blah like mine… his site is straight forward, clean and straight to the point.
This guys is going into my blog roll… a site worth looking at.
However… his site is not what I wanted to point to you guys… rather it is his ebook that he has written.
Automated Trading in the Forex market : A Trader’s Guide to Success
Now I have personally bought it yesterday. It cost about US18.85 via Paypal. It was an easy read and it’s about 39 pages long packed with a lot of information and guide which I have been in a way mulling over on my site. It’s just that I was not able to express these facts beautifully as he has in this ebook.
Again no fancy-pancy write up, very well written and straight to the point. Most of what he said in the book echos my sentiments exactly. Automatic trading is not an easy task… Searching for profitable EA, requires WORK… yes… you heard me… It requires WORK and the work that is needed is very nicely outlined on his ebook.
Also he talks about how to search for profitable EAs, he explain what are the issues one should look at… He has a set of criteria as to whether you should waste your time looking in depth into an EA or not…
He like most people are numb by all these hyped up marketing BS… and if you want to really break through these marketing gimmick that blind your eyes with promises of big profits… then his book of wisdom should dispel these marketing tricks and one will be able to make a sound judgement as to whether one should part their money to get that EA…
There are a lot more points and facts that he describe in his book. Like what exactly Expert Adviser is, advantage and disadvantage… the psychology involve… strategies to look out for… etc etc etc… you will have to read it to feel the wisdom in all these…
If you are a beginner or even someone who has been or still searching for profitable EA and fail like me… then go read his book…
It’s only $19 bucks. I believe it is a small investment to get an insight of what automatic trading is all about… Read it first before buying your first EA, or even if one was to think about getting into automatic trading.
Those of you who is thinking about IVYBOT… again… read this first. I am sure that this book will be your deciding factor whether you want to get your hands on this new hyped up IVYBOT or not…
I especially liked it when he mentioned along this line… if you want to be a long term automatic trader… then Learn to code MQ4… 
It seems that I am moving into the right direction… or at least I think I am.
Speaking of IVYBOT. You should have a “shout box” or should that be a scream box! .. The amount of crap im getting in my inbox about Ivybot is giving me the $hitchz, worse still im getting friends who are dabblers in EA’s forwarding me the SPAM to read!! grrrrrrrrrr
The problem is that we can’t automatically discount EAs just because of their horrible marketing strategies. Remember the similar hype over Forex MegaDroid a few months ago? Yet it just saved my neck with 10% bankroll boost over each of the past two nights, on aggressive settings. Something like this guy’s criteria for what to look for will be very welcome.
I read his book like 4 months back.. I enjoyed reading it but I find his approach too conservative for me. The version I purchased doesn’t have any popular EA.. not even FAPTURBO. I am not sure if he has updated the book.
In addition, on his blog, many of his unbiased reviews are not in depth at all. For example, his MGD review, he did not buy, backtest or do anything when he reviewed the megadroid. He reviewed based on the sale website only. I think it needs more work.
that’s true, as kittisakh says. The FAPTurbo review, for example, is full of mistakes and inaccuracies, like the SL is 500, when varies depending on the pair and always around 50-70 pips.
I think he does the reviews with preconceived notions in his head.
Yeah ..his reviews will most likely put a freeze on yr mental orientation to act and buy those EA you probably was drooling over to buy ! Guess MegaDroid was a good example.
i found this ea, from other blog. http://www.pop4x.com/hi-net-grid-forward-test/
why dont u give it a try? backtesting looks good. and lots of test needed to be gone on eurusd, eurgbp and eurchf.
disclaimer: john123x wont be responsible for every crap ideas he gives…
at least its cracked. therefore its free…
some description bout the ea. “martingale scalper”.
first it scalps, if it fails to scalp and went opposite direction, it double the initial bet and continue to purchase in the samae direction. kinda like cyborg. but this one “scalps”