As our regular readers will know we've been having a few problems getting consistent results from our Forex MegaDroid backtests. We've also had a major problem with our forward tests. The robot hasn't traded for weeks! However last night the Droid leapt back into action with avengeance! Please bear with us while we explain what our various virtual private servers discovered for us while we slept.
More on The Forex MegaDroid Forward Testing Fantasia – Variation 1
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Our adventures in MetaTrader land with the Forex MegaDroid took a sinister turn last night. The robot didn't make any trades but it wasn't completely idle. First it lost its memory, then it killed another robot. Maybe it was jealous and decided to stop a competitor from profiting whilst it could not? Maybe it just went totally out of its mega-mind?
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At the last count I had received 28 emails over the last few days advising me that "FapTurbo Evolution is LIVE!" and such like. Five of them were from the Forex MegaDroid team. I was a bit confused because I was sure that I got a few emails 2 or 3 weeks ago telling me about a robot called FapTurbo Swiss, which sounded a lot like this new one. Clearing my thoughts, I followed one of the plethora of links to the FapTurbo Evolution sales page, which told me at the top that:
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Woe is me! It looks like I made a big mistake earlier today when I foolishly tried to save some money by buying FapTurbo Evolution using my own ClickBank hoplink. I really wish I'd read all those emails from the Forex MegaDroid team properly. I got another email from Albert and John this afternoon, and I did read it carefully. I thought it was going to be a reply to my support ticket about memory apparently leaking from their Droid, but I was mistaken.
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In all the excitement yesterday I forgot to mention that I also bought a copy of the unevolved version of the FapTurbo MetaTrader robot. I thought it would be instructional to compare its performance alongside the far more expensive FapTurbo Evolution, to discover how much better the new "serious robotic system" compared to the decrepit old "MetaTrader child's play" model.
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If you recall we didn't have much luck comparing the original MetaTrader version of FapTurbo with FapTurbo Evolution in forward testing. We have managed to do rather better with our backtesting. One of the reasons backtesting FapTurbo Evolution in Dukascopy's JForex platform takes so long, if you follow the instructions in the Evolution manual at least, is that it uses tick data rather than one minute bars like MT4. This makes the results more accurate, but also much more time consuming to obtain. Here's the equity curve we obtained for the period starting on 5th July trading the EUR/GBP pair using the default input settings:
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I was browsing the MQL4 forum in the hope of discovering some more news about the apparent delay in the release of MetaTrader 5 when I beheld a surprising sight. In a banner across the top FXCM were promoting their UK operation once more. This time they were being terribly blunt. It's a question we have asked here at the Trading Gurus several times, and here is how the FXCM marketing machine expressed it:
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We've just added a new instalment to our course on how to build your very own forex trading system. This one explains a new variation on an old boiler room trick that can be used by scammers to show unrealistically profitable test results for MetaTrader robots.
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A couple of months ago FXCM told us that they were working on educational materials to explain the changes involved in complying with the new NFA "hedging" and FIFO regulations to their customers. Here is one of FXCM's new educational videos explaining to their customers how to manage risk in this brave new world of forex orders without built in stops. To summarise, FXCM are introducing a new type of order called "One Cancels the Other" or OCO for short, which will already be familiar to many futures traders.
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A new version of FapTurbo Evolution has been released! This was extremely welcome news for us here at the Trading Gurus because backtesting the robot was proving to be something of a nightmare. According to the email we received announcing the new version it has:
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