It’s relatively new, so there aren’t that many reports there yet. I’ll be steadily transferring research that I’ve compiled over into the Forex Trading Reports section over time.

So far, I’ve added information on these three trading systems:

• FAPTurbo.com
• The 10 Min Forex Wealth Builder
• Forex MegaDroid

If you want to check out the forex trading systems reports section:

The Forex Trading Reports Section

Wishing you good trading!

]]> http://www.smarttradingforprofits.com/forex-trading-reports-section/feed http://www.smarttradingforprofits.com/forex-rebates-does-your-broker-pay-you-to-trade http://www.smarttradingforprofits.com/forex-rebates-does-your-broker-pay-you-to-trade#comments Mon, 09 Mar 2009 05:43:47 +0000 Smart Trader http://www.smarttradingforprofits.com/?p=354 As a trader, we’re always looking for ways to make money faster and easier. Either with the latest trading systems, strategies, and even with trading robots, right?

Any way you can get money as a trader is a good thing. One of the ways to increase the probability of your success as a trader is to lower your trading costs. So you’ll want to read on to know how you can do this.

How Brokers Make Money

How brokers make money is by taking a chunk out of the spread on your trade. And if you’re not sure what the spread is, it’s the difference between your buying price and selling price on the currency pair.

How would you like to get a chunk of that spread given back to you in cash? That would really help to reduce your overall trading costs, wouldn’t it?

How You Get Paid To Trade

The more you trade, the more cash you get back. You should still stick to your trading systems and rules, and not trade more than necessary. Smart trading is still the name of the game.

I found a place where you can do just that. The site isn’t exactly the most friendly and navigation is a little tricky. But if you follow the steps below, then you’ll start earning money back on your trades!

In any event, getting some money back when you trade (without doing anything different in your trades) is a good thing as a trader. Lowering your costs definitely improves your chances of making money in the trading game both in the short term and in the long run.

On the following site, you will find out how you can open accounts with brokers like FXDD, FXCM, GFS and other brokers. Follow the steps 1 to 3, and you will be on your way to getting paid by your broker!

1. Step One: Select Your Broker
2. Step Two: Open A Live Forex Account
3. Step Three: Start Earning Your Forex Rebates

To find out how you can get paid by your broker, visit:

Get Your Forex Trading Rebates

Increase your chances of long term trading success by reducing your costs. That’s what any smart trader will do.

What is the FAP Turbo Forex Trading Robot?

FAP Turbo is an automated forex trading system that has been proven to give profitable trades since 1999. This is a plug and play trading robot that can double your trading account. FAP Turbo is the one of the best and most complete income solution for people who want to trade with the most accurate and profitable Forex robot in the world. With a back-tested track record of 95% Winners and with very profitable forward trading, the results are incredible!

Here’s a video to watch on the FAP Turbo trading system.

Trading With Different Account Sizes
And if you’re starting out with a small account, you’ll be glad to know that FAP Turbo is not restricted to account size. The developers show you LIVE accounts that are traded in real time starting from a $370 account all the way to a $5,100 account.

Check out the FAP Turbo Forex Trading System

As far as I know, Fap turbo IS one of a kind product. It has made such huge gains in such a short amount of time that if you don’t test it out, you may really regret being left behind in the automated forex trading arena.

Origins of the FAP TURBO System
FAP TURBO is built on the FAP (Forex Autopilot) engine but it is a whole new generation product. The developers, Steve, Mike and Ulrich, have increased the probability of profits and reduced the risk through the use of fixed stop loss values so your possible losses will be small and limited. And when you are able to reduce losses, that increases your chances of making profits tremendously! But losing isn’t the game we’re looking at with the FAP Turbo…

What’s So Great About the FAP Turbo System?

FAP Turbo is an automated forex trading system. This system can give you profits without having to do anything. Fap turbo actually took usd 10,000 and traded it up to usd 34,000 and more! Its an amazing sight to behold and I urge you to watch the robot nail trade after trade.

Advantages Over Manual Trading
FAP turbo, as a Forex robot, has a great advantage over trading systems that are traded by humans. With manually or discretionary systems, your emotions and state of mind will influence your trading to a certain extent whether you like it or not. But If you are trading a totally automated system, emotions are eradicated from the equation.

A forex trading robot will just follow the trading rules over and over again. No emotions involved. Which means that you don’t “sabotage” yourself when you let the robot do the trading for you!

One of the things that you might be asking is if it’s difficult to set up the FAP Turbo to trade automatically for you, right?

You can set your mind at ease. Inside the private members forum, you can download an installation program that sets everything up for you automatically! The instructions are given as to how to use it, and you can even call in on their support telephone line to talk to someone on how to set everything up!

Will you be left alone to “fend” for yourself?

Not a chance. The FAP Turbo team has the private members forum where you can talk with them as well as other members. You also get to see the results they get when they post to the forum, as well as any other issues that others may face in using the FAP Turbo system.

So if you have any questions or queries, you can always check the forum to see if someone else has faced AND solved the issue. Otherwise, you can post the question to the board and get answers or suggestions on how you can solve it.

Check out the FAP Turbo Forex Trading System

Does the FAP Turbo Forex Trading Robot Work?

FAP Turbo is the only forex robot in existence that is able to provide you with Live Trading proof. In fact, Fap turbo is the only Forex automatic trading robot where you can see real money accounts being traded online right before your eyes!

Constantly Updated Live Proof
In order to show you undeniable proof that the system works and is worth much more than what it costs to purchase it, the developers show you LIVE STATEMENTS that are updated every 15 minutes. Not only do you get the usual backtests and simulations but forward trading with real money!

To see the LIVE trading statements, go to live statements.

FAP Turbo As An Automatic Forex Trading Robot

FAP turbo, like other Forex robots, has a great advantage over trading systems that are entered by humans. If you are trading a system you simply have to leave emotions out of the equation. Fap Turbo does have a few downsides. First, the program will only run when your computer is online. However, this drawback is very easy and simple to overcome, and I’ll share with you how I do it later on.

Make Money While You Sleep?
The great thing is, Fap Turbo does all the work for you, even while you’re sleeping. Which is something that I enjoy tremendously!

Fap Turbo do all the work for me even when I turn off my computer. So I do not have to be in front of my computer all the time. FAP Turbo also offers telephone support if you have any questions on the setup and trading which is extremely cool and very rare for a program at this price. That will protect you and makes the trading safe.

Safety Trading Measures
Fap Turbo has a “stealth mode” parameter that helps you to avoid cheating on the broker side. Stealth Mode hides the take profit and stop loss values from the brokers. FAP Turbo has a neat feature that places the stop loss and keeps the actual price level hidden from the broker. You can appreciate that if you ever traded options on the Philadelphia Options Exchange where gunning for stops was the local sport!

Fap Turbo will generate profits for you even when you are asleep! Fap Turbo Trading system/robot is a forex trading robot, known as expert advisor (EA). It can be use for automated forex trading on metatrader4 platform on a 24 hours basis.

Live Proof and Regular Updates
What I like about this product straight away is the Live proof from 3 accounts that are published on their website for all to see, these accounts update live on their website every 15 minutes. Each time there is an update, the FAP Turbo team sends an email to their members about a new modification of the EA.

FAP Turbo Trading Strategies

The FAP Turbo has 2 trading strategies within the same Expert Advisor (EA). They are:

1. Short Term Scalping Strategy
2. Long Term Advanced Trading Strategy

Multiple Forex Strategies
Each strategy uses its own designed time frame and currencies so be sure you use the strategy on proper currency pair and time frame. You will find full details on each strategy and its parameters in the Fap Turbo Guide and Video Tutorials.

As for continuous support and updates, they have been consistently improving the site ever since they launched the FAP Turbo trading system. New support and training videos have been added to the members area to help ensure you know what you’re doing.

The key strategy that makes FAP Turbo such a valuable and profitable system is the Short Term Scalping Strategy. While you can change many of the settings within the EA, the default setting is already good enough to make an incredible amount of profits!

Oh yes, another thing you want to take note of: your FAP Turbo EA is updated on a regular basis (for Free!) to make sure it continues to stay accurate and profitable!

Private Members Forum
They have also added the FAP Turbo Members Forum where you can share and pick up ideas on how others are using the robot to make massive amounts of profits!

Personalization of your own FAP Turbo EA
FAP Turbo is the latest exciting Forex Trading Robot that can increase your account size in weeks. All what you need is to provide set of variables and guidelines to the software and then the software will takes the decisions depending on your entered variables.

FAP Turbo uses fixed stop loss values, so trading is very safe. A great number of additional safe filters and indicators were added to prevent trading in risky conditions. FAP Turbo will do everything for you. You just need to place it inside your MetaTrader platform, and turn it on.

If you don’t want to tweak anything, the default settings work just fine.

The FAP TURBO Long Term Strategy does not care about the spread size and the volatility of the market. It has a rather large value for take profit, and also has shown profitability over the longer term. It doesn’t trade as often as the scalping strategy, but combined together with the Short Term Scalping Strategy, you get a diversified portfolio of automated trading systems.

Trading Drawdown
FAP Turbo’s drawdown is 0.35% which explains why the equity graph is so smooth on the statement page on its website. Fap Turbo was launched on 25 November 2008 and there was so much buzz around this product launch that thousands of copies were sold on the very first day.

FAP Turbo in Summary

Forex trading can be a highly profitable business, but as everything in life it all comes down to knowing very well what you are doing. So to make a profit within the forex market you must either be already an expert, or you have to try and become one fast, but then again, becoming an expert in anything within a short period of time is virtually impossible and very risky if it is your investment at stake.

Accelerate Your Trading Profits
One way you can accelerate your trading profits is through the use of Automatic Forex Trading Robots like the FAP Turbo. While it trades for you on automatic, you can continue to learn how to trade the forex markets manually. And then you can benchmark your manual discretionary trading against the profits generated from the FAP Turbo forex trading robot!

Your Own Golden Goose
The FAP Turbo is like the Golden Goose that lays the golden eggs on a consistent basis. There are already a huge number of people using the FAP Turbo to make money in the forex markets. The good news is that the forex markets are large enough to absorb such trading without being affected one iota! However, you must know which brokerages to use and which are the ones to stay away from. That’s where the continually added value of the Private Members Forum comes in! Any brokerages that scam forex traders are highlighted within the forum, so that FAP Turbo users know to stay away from them!

The Value of FAPTurbo
The FAP Turbo is worth thousands of dollars, and I won’t be surprised if the developers raise the price! Or even take the FAP Turbo system completely off the market in order to maintain their level of support and service to the existing members! I know it’s possible because I’ve purchased solid, automatic trading robots that have limited number of licenses. So even if you wanted to purchase it, you may not even be able to get it once it’s off the market.

Can you really calculate the real value of a system that can generate money for you on a consistent regular basis?

Check Out FAP Turbo For Yourself
I don’t know if anyone else is going to grab a copy or not, but I did. And so far, I’ve had profitable results without having to lift a finger other than the initial installation!

FAP Turbo offers a 60-day money back guarantee, so you have a full 2 months to check out the system and run it. You can run unlimited demo accounts to see for yourself how profitable it can be, without risking any money at all!

To check out what the buzz and craziness is all about, go to FAP Turbo forex trading system.

10 Min Forex Wealth Builder -> USDCAD Trend Trade

It can be quite hard to believe that trading profitably can be so simple. That’s a major perception problem that lots of new traders get when first learning about trading…

I know, because earlier in my trading career, I had the impression and belief that the more sophisticated a system was, the better it would be in terms of profits. To tell the truth, it took quite a while for me to get rid of that unproductive trading belief!

But when you finally realize that bells and whistles don’t necessarily equate to profits, you’ll start on the process of simplifying your trading strategies and rules to the basics as much as possible. It’s exactly like how Albert Einstein puts it:

“Make Everything As Simple As Possible, But Not Any Simpler.”

There requires a balance between sophistication and simplicity, because going to the extremes either way can be very counter-productive.

That’s why the 10 Min Forex Wealth Builder manages to find a balance between simplicity and complexity, and with a little bit of patience and discipline, you’ll find that you can build your account pretty quickly over a short period of time!

The USDCAD Trade

The trade was exited for +344 pips over 2-3 days, without really having to do anything!

Capturing +344 pips in the USDCAD

If you have a couple of trades like this and they go on an extended trend, you can be pretty sure that your account will grow pretty quickly… and sometimes it’s a lot faster than you might believe!

Trading End of Day With The 10 Min Forex Wealth Builder

Trading the forex markets doesn’t have to be as time-consuming as you may have been led to believe. With the right strategies and systems, it really can take as little as 10 minutes a day or less.

The 10 Min Forex Wealth Builder isn’t a day trading system, although you can adapt the same rules to the 4 hour charts. It’s designed to provide the forex trader a simple system that requires little management, and to be able to step away from the markets until the trade either gets stopped out or hits the profit targets.

A system like this, in my books, is something valuable if you want, or need, to have a life away from the markets.

And growing your account can be a lot faster than you realize… $10,000 to $15,000 in 5 months? You may even average 100% a year or more, taking less than 10 minutes a day!

If this is what you’re looking for, you can find out more about the 10 Minute Forex Wealth Builder.

Find out more about the 10 Minute Forex Wealth Builder here

On the other hand, the forex markets are just continuing as per normal. It’s not that easy to manipulate the foreign exchange markets as it is the stock markets. The factors that cause currencies to move are very different from those that can cause individual stock prices to move.

But no matter what is happening in the financial markets, you will always need a robust, solid trading system to capture market moves with as little risk as possible, for as much profit as possible.

One of the Best End of Day Trading Systems

In quite a number of the trading systems that I’ve come across, one of the best forex strategies that is simple, requires very little time to trade, and gives extremely solid returns is the 10 Min Forex Wealth Builder.

Here’s my latest trading statement:

Detailed Trading Statement for the 10 Minute Forex Wealth Builder
(It’ll open in a new window)

At this time, it’s showing a closed profit of $5,532.84, not including the current open profit with the trade on the USDCAD.

10 Minute Forex Wealth Builder END OF DAY Trading System

I have about a 68% win rate with the 10 Min Forex Wealth Builder trading system. So it isn’t all hunky dory with ONLY Wins and no losses. There are some losing trades, which is part and parcel of any trading strategy.

Yet….

The account is up over 50+% in less than half a year. Not to mention that I’ve missed a couple of other winning trades because I was preoccupied with the other stuff that goes on in my life. The returns could easily have been much higher by now.

And that’s not taking into account that I only take about 10 minutes or less a day to find trading opportunities, place the order, and then manage the trade to completion. Some days, it takes 3 mins or less to fire up the MetaTrader platform, flip through the charts, and find there are no trading set-ups to take.

At times like this, if your trading account is even up by 20% or more, you’d be waaaay ahead of many people who’s portfolios have been savaged by the problems hitting the equity markets. Not to mention that you might even be up by 50% or more!

I’ve been through a few End of Day trading strategies, and there really aren’t that many systems in the market that are as solid as the 10 Minute Forex Wealth Builder. There are more expensive packages in the market that cost a couple of thousand dollars, but if you want value for money…?

Take the 10 Minute Forex Wealth Builder for a drive in the forex markets. If I can make 50% + on my account using the systems included, why shouldn’t you?

But remember, the 10 Minute Forex Wealth Builder is an END OF DAY trading strategy. It is NOT a day trading system, so if you’re looking to free up your time and energy by trading only a couple of minutes a day, then this is a solid system that you must have.

If you want to learn the strategies in the 10 Minute Forex Wealth Builder Trading System…

Make Money Trading only 10 Minutes A Day!

While the desire to trade is there, having the patience and discipline to trade only when conditions are best suited to your systems is crucial for success in the long term. If you are able to cut down the number of losing trades, you already come out ahead in the trading game.

With the 10 Min Forex Wealth Builder, we’ve not had any good opportunities come up. This means that we’ve been keeping our capital safe for when the markets start to behave predictably again.

Once the markets settle down, and good trading opportunities are available again (based on the 10 Min Forex Wealth Building System), you can be sure that we’ll be taking those trades.

Understanding Your Trading System

If you’ve been trading awhile, you’ll realize that trading systems don’t suit all market conditions. There will be times when the markets just don’t sync with the assumptions of your system, and those are times when you will have to stand aside.

That’s why it helps when you have a primary trading system (i.e. your bread & butter trading system), and other secondary trading systems that pinpoint good trading opportunities that aren’t picked up by your primary system.

You diversify across strategies and systems, but it will require you to have the clarity of mind, patience and discipline not to overtrade when you are trading more than one system at any one time. The soft skills of trading are crucial for your trading success, because the trading systems will be executed by you.

When you have the soft skills of trading, plus the specific trading systems of the 10 Min Forex Wealth Builder, you’re going to be profitable over the long term. As a trader, you’re going to need every edge that you can get.

Click here for more Information on the 10 Min Forex Wealth Builder

10 Min Forex Wealth Builder August 2008 Results

I first started testing out the 10 Min Forex Wealth Builder in June 2008, and it’s about 3 months now that I’ve been actively trading with this particular End of Day Forex Trading System.

The account started with $10,000, and has progressively increased over the months till where it stands now.

The Overall Trading Result as of 31st August 2008

Closed Balance: $14,668.56
Open Equity: $15,435.95 (closed balance plus/minus open trades)
Net Closed Profit: +$4,668.56 for 46% return over 3 months.

See Detailed Trading Statement

That’s approximately 15% a month over the last three months, give or take a couple of percentage points. And all that for monitoring the markets for a total of not more than 15 minutes a day, if not less.

Does the 10 Min Forex Wealth Builder Work?

Trading on any given day isn’t easy. Trading on any given week or month has its challenges. But one thing I can say for sure, having a proper trading system with well defined parameters definitely gives you, the trader, an edge that others don’t have.

And when you have an edge in the markets, that’s where you will make your money.

The 10 Min Forex Wealth Builder gives you:

• Two Trading Systems for two different types of trading (i.e. Trends & Trading Reversals)
• A Well-Defined Entry
• A High Reward Profit Target that is 2x or more your initial Risk
• Low Time Requirements (especially good if you are working full-time, and trading part-time)
• Low Stress (because you don’t have to sit in front watching the markets tick up and down every single second)
• Long Term Profitability with a robust trading system

For an End of Day Forex Trading System, I don’t know how much better you can get than with the 10 Min Forex Wealth Builder. Of course, not everybody enjoys trading End of Day… Some traders prefer to have a close up action of the market by day-trading.

Then again, it’s always good to have a profitable system in your trading arsenal that offers you diversification across trading styles and time-frames as well.

For more information, go to Forex Wealth Builder.

Right now, we are +$3,773.81 in closed profits. Not much change from the last update, but we are up a couple of hundred dollars nonetheless. In between the last update and this one, we did hit a high of $4,000+, but have since then come off the equity peak a little.

The 10 Min Forex Wealth Builder

If you’ve had a hard time trading the forex markets in the last couple of weeks, it’s good to know that by following the trading methods in the 10 Min Forex Wealth Builder, you would have stayed out the majority of the time. Keeping your capital intact for when the markets are okay for trading again.

Even the best of traders have losing trades some times, but they realize it’s all part of the game. With the systems within the Wealth Builder system, you will make back any losses pretty quickly once the markets are “normal” again.

If you’re wanting a system that will allow you time away from sitting at the screen, then the 10 Min Forex Wealth Builder is something that you must check out.

Check out the 10 Min Forex Wealth Builder

Right now, I only have one trade that’s open in the USDJPY. It’s profitable so far, and is on its way towards hitting the first profit target.

10 Min Forex Wealth Builder USDJPY

Will it hit the first profit target for twice the initial risk?

I’m leaving it to the trading plan that I have in place to manage the trade. If we get a further push upwards by the USDJPY, then great. Otherwise, it’ll just be another one in the thousands of trades that come along.

Read more about the 10 Min Forex Wealth Builder

The account I’m trading this in is now +3,322.65 in CLOSED PROFITS. There are still two trades open in the EURJPY and EURUSD, but in both of them the stops have now been shifted to Break-Even.

Here’s the EURJPY Trade:

And here’s the EURUSD Trade:

Here’s the link to the MT4 trading statement:

+$3,322.65 in 30 days trading statement

Trading With the 10 Min Forex Wealth Builder

Trading with the 10 Min Forex Wealth Builder has been exactly what it said it would be. It really takes me less than 10 minutes a day to identify a possible trade, enter the orders, and wait for the market to trigger a trade.

It does definitely require emotional discipline and patience though. When I first started out, I was quite caught up in the emotional excitement of the “potential” of turning $1k into $100k in a year, and then $100k to $1m by the end of the second year… Now I’m smarter… everyone knows it’s not possible to turn $1k into $1min two years… it takes at least three!

Trades don’t come up every day. Although over the past 30 days, I’ve been in the market almost every single day managing already open trades.

Initially, it’ll take you a day or two to steadily identify all the existing support and resistance levels on the pairs that you’ve chosen to trade. And once you’re done, you’ll be trading the same support and resistance levels over and over again.

I set aside about an hour to draw all the major support and resistance levels on the pairs I would be trading, and then over the days that I identified trades in certain pairs, I would recheck if the trade signals formed at significant S/R levels. If they didn’t, I just ignored them.

So far, trading the 10 Min Forex Wealth Builder, there have only been 2 trades that were stopped out for a loss. The rest have gone on to either hit their profit targets, or be stopped out for small profits.

The 10 Min Forex Wealth Builder is not a “High Risk High Reward” type of trading system. It’s something that requires you to be patient for the signal to set up (then again, which trading system doesn’t, eh?). But it follows the simplest rules required for trading success… when you identify a potentially good trade, the Reward must at least be 2x the Risk on the trade. Or in some cases, better.

You could increase the leverage on a Forex Wealth Builder trade for potentially higher gains, but I’m happy enough as it is to do 30% over the past month, trading only 10 - 15 minutes a day or so.

When Does Taking High Risk Make Sense?

If you have $100k in trading capital, risking $1k on a highly speculative and potentially very rewarding trading system is probably okay. You can treat it like buying a “lottery” ticket, which it most probably is. If it works out, great! You’ve added a chunk of change to your trading capital.

On the other hand, if it blows up… hey… it’s only 1% of your entire trading capital. If there was a better than 50:50 chance of making $1m, then it probably was worth it in the “monetary” risk sense. But if it throws you off balance emotionally, mentally and physically as a trader… you’ve lost more than just $1k.

You’ve lost what it takes to be a consistently profitable and stable trader. You know… the type of trader that seems to have ice running through their veins. You’ve lost that inner equilibrium and sense of perspective that all successful traders have.

All said and done, if you need a “bread and butter” forex trading system, then I highly recommend the 10 Min Forex Wealth Builder. If you ask me, I think it’s quite under-rated. Most traders are willing to pass by something that has the potential to consistently generate profits between 5% - 10% a month for something that could either make them 50% a month… (and possibly blow their account out in the process…).

• Read my review on the 10 Min Forex Wealth Builder
• To Own the 10 Min Forex Wealth Builder

Did that catch your attention?

It did, didn’t it?

After purchasing the 10 Min Forex Wealth Builder trading system, it took me a couple of days before I settled down to read it thoroughly. And I have to say, it was very worth it.

Between 10 - 15 minutes a day, the 10 Min Forex Wealth Builder extracted $1,806.57 from the markets. On a $10,000 account, that’s about 18 plus %. On most days, it took me less than 3 mins to scan the 8 plus currencies on my watch list!

And when it took 10 mins, that was only because of trades setting up! Working out the position size, entries, stop losses and profit targets takes me a few minutes… not to mention having to enter the trade orders into the trading platform.

My 10 Min Forex Wealth Builder Trading Results So Far…

To see the trades that I took, and the trading results, here’s the trading account statement:

10 Min Forex Wealth Builder Statement

Of the many trading systems that I’ve purchased and traded over the years, this is one of the few that I most enjoy trading. It takes little time, it has great reward to risk, and it’s very effective in hitting targets for profits.

I’d love to share more, but I’m going to grab some Zzzz now. I still have a couple of trades open, and the account has grown to $12,000+ at this time. My days are filled with things to do, and I for one definitely appreciate it when a trading system requires low maintenance AND offering high potential rewards.

While this trading system has been very effective for me, if you’re looking for action every single second, it’s not for you.

But…

Making Explosive Profits With The 10 Min Forex Wealth Builder

If you’re looking for a steady way to grow your account an average of 10% to 20% a month on a steady and consistent basis, using less than 15 mins a day to manage your trades, and be happy to end up being a Profitable trader rather than being a losing trader, then you definitely want to check out the 10 Min Forex Wealth Builder.

To read more on the 10 Min Forex Wealth Builder:

• My 10 Min Forex Wealth Builder Review
• Own the 10 Min Forex Wealth Builder