It has been a quite interesting year in the world of forex automated trading during 2009. Before the introduction of FAP Turbo this was a very narrow niche, known to a very small community. Since FAP Turbo was released the market got absolutely flooded with EA:s. All of them promising that we all could retire within a couple of years after using them. However, as most of you know, in most cases the only people who got rich by the EA:s was the guys selling the forex automated trading robots.
The million dollar question is of course; What EA:s will actually work and make money for us during 2010?
In my opinion, there are only 3 EA:s that I would risk live money on at the moment, those are FAP Turbo, Megadroid and Forex Shocker. However, you need to be very careful with settings with these and avoid the high impact weeks when trading. For example, FAP Turbo needs a very narrow time window to work and no trading with the EURGBP. Forex Megadroid seems to work best with the advanced droid tactics settings. Forex Shocker seem to always work good for a while and then to crash heavily during weeks with high movements. I would definitely avoid EURUSD with this EA and only open one trade at the time for a particular pair.
Other EA:s that I will keep on my watch list during the beginning of 2010 are Forex Bling, Forex Broker Buster and EB-Turbo, which all seem to have potential.
The settings of each EA is absolutely critical for success. On my blog on Forex Automated Trading, FAP Turbo Guide I regularly write about the best settings to optimize performance. Visit the blog often or sign up for the newsletter to receive frequent information the best settings for the most profitable expert advisors for Forex Automated Trading.
Douglas Smith is a professional day trader. He uses a combination of manual and automated strategies. He has built a reputation in the industry for applying advanced statistical methods to constantly monitor and improve trading performance. Visit his blog to learn more about his findings: http://www.articlesbase.com/currency-trading-articles/forex-automated-trading-what-eas-will-create-profits-during-2010-1631116.html
