I’m gonna talk about the most popular Forex expert advisor (auto trading robot) FAP Turbo. It’s the most popular but is it the best? The popularity doesn’t always tell if something is the best, on the contrary, many times something is popular for other reasons than its performance.

So how this system works? It’s a scalper in a nutshell. It makes several trades a day. It sets a high stop loss and shoots for 10 or so pips in a very short time period. The fast profit proponents love it, of course, because from so many trades per day, they can except quick profit.

But make no mistake, it’s easy to think that jsut because there are a lot of trades, a few lost ones here and there means nothing. It all adds up and that’s why scalpers are risky, so is FAP Turbo. It is risky and you can lose a lot of money just from a couple of lost trades.

It’s certainly is not for everyone. There are those who like it, but there are those who hate it. Long term traders would never use it, because it just doesn’t fit their strategy. On the other hand, it’s perfect for short term traders.

Here’s a thing you may be interested in:

Forex Mutant is a signals software and an advanced manual trading system. The trading strategy behind Forex Mutant is said to be 90.3% and the authors have set a goal to not only provide the users with results but to also teach them trading.

You may at least take a peek, I think.

Here’s something of interest. I think it is:

Forex Knight Rider is a new foreign exchange scalper EA. It’s fully automated and will make several trades a day at about 6 pips in profit each (96.67% winning trades). It runs exclusively on EUR/USD 15 minute chart. Indeed, it is a true scalper per specification…

I recommend it – it seems promising.

I have just received a notice of a new program:

Before writing a review of FXOpen I’ve researched a lot of FX brokers that use MetaTrader 4 platform and they were one of the most talked about brokers with a very decent feedback. Furthermore, FXOpen is used by traders who trade with Expert Advisors and realizing that most readers of this site are interested in auto trading, it was a nice fit. The only problems that people seem to be having are with scalping – the servers sometime seem to be having delaying and an occasional re-quoting is happening. So if you’re looking for a broker for scalping, FXOpen may not be ideal. Other than that most traders seem to be having a good experience, so I went ahead and took a closer look at this broker…

Might be worth to check it out.

Here is an unusual program:

The AI Forex Robot is another EA that claims outstanding results by using Artificial Intelligence technology. Once again though, there’s no more detail about how it implements the AI and how it makes the robot better…

You should take a peek, I think.

It would seems straightforward that to start trading Forex all you need to do is open an account with a broker and start trading. Your options would be just the minimal deposits and fees. Alas, the world of Forex brokers is not that simple. There are a lot of aspects that aren’t pretty at all.

Like everywhere here money is concerned, there’s automatically wrongdoers whose only purpose is to get money out of unsuspecting people. Maybe for that reason, an average life time of a Forex broker is very short. There are very few brokers who stick around for few years, and needless to say you should prefer them.

So what’s the problem with those Forex brokers who come and go. Many things really, starting with poor customer support, ending with financial manipulations, such as excessive re-quoting and trading against the traders.

First thing to do before choosing the broker is to check their pricing. Is the spread reasonably high (too low of a spread may indicate behind the scenes recouping of the earnings – no broker will work for free), if it’s not, what other commission is charged? While it’s hard to know if a broker trades against, which means it’s of their interest that you lose, the pricing should give the indication.

Finally, check the Forex reviews for feedback about various brokers.