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Guest post by: Dr Don Yates Sr PhD Become an Author

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Attention! You Are About To See A New,

Never Before Released Program That Makes Millions! Would You Like A Sneak Peak?

WHY THE IVYBOT? Developed by Ivy League Graduates, 4 Separate Robots at 1 Price, Free Robot Upgrades, 100% Hands off Trading Robot, No Experience Necessary, Most Profitable of All Robots

- $ 500 Turning Into $ 3,736 - In 30 Days, - $ 2,500 Turning Into $ 9,733 - In 45 Days

- $ 5,000 Turning Into $ 17,154 - In 60 Days, - $ 10,000 Turning Into $ 36,391 - In 90 Days

Now It Is Time To Get Real.... Are You Ready? Come See the Results, Be a Part Of The Phenomenon, Watch the Exclusive Webinar. 100% No Questions Asked Money Back Guarantee...

OK, I'M READY for the IvyBot Details, Let Me Have Them!

Personally, I prefer having the choice of monitoring several trades and yes you can make trades with your broker outside of those initiated by the robot, or you can double up or more on their recommended trade if you like it.

Remember with Forex MegaDroid, you can trade only trade one pair: EUR/USD.

If for example, the EUR is strong against the USD, then EURO may be strong against other currencies as well. I never like just putting my money into just one revenue source.

Depending on your Broker, you can double up on the trade if you like what the expert is doing, or you can trade other pairs at the same time.

How much you can trade, depends on your deposits and the size of the trade. If you are on a limited budget, then maybe you can only make one trade. If that trade is going against you; then you will not have money to counter-trade or to protect yourself.

This Ad also says “No Experience Necessary and Most Profitable” again. Since these guys are a new bot, how can it be established that they are most profitable over time?

If all trades are International; how are these how are these guys doing so well? Then I must be doing something wrong, as you will see

As discussed in the following, IvyBot has and continues to be a loser for me. Now whenever IvyBot want to make a trade, and I am not there to watch the trade, I feel I am at risk. I have no confidence in IvyBot; or their support system.

If IvyBot is making multiple trades, some of which are profits; take your profit to help offset your losses, before you leave or shut down the computer. If there are no trades; one way to protect yourself, is to click the “Expert Advisor” tab, before leaving your computer.

This will keep Ivy from executing trade while you are gone and you may want to leave the computer running, if you have other trades, or “whatever”

Smiles, I understand that the word “whatever” was recently voted the United States most annoying word? I wonder what was second. IvyBot’ tale of set it up and "Just Walk Away” - doesn't work. Leave the computer and let the Bot do its thing - doesn't work!

Obviously, after taking such a loss on my first trade; I have been trying to dig my way out of the hole. The other day, I finally reduced my loss to something less than 50% (sounds a little funny, but going from 82% down to 50% down is a reduced loss). I left the computer and IvyBot running and retired for the night. The next morning, I found the Ivy has struck again during the night on another bad trade (a buy, instead of a sell), and I had lost 56 pips before it shut itself down. Talk about losing money while you sleep, and another DO NOT Just Walk Away lesson.

Take your time to learn about the platform, orders and charts, etc. For those of you are still laughing, you’re correct, I didn't know I could "right click" on the order number and close it or modify it. Let us call it a good first trade mistake and an expensive lesson. See the video link above

Hello, Thanks for stopping by. I pulled my original post, which was a strong complaint, and offer this replacement post as a Constructive Update for my fellow Forex "newbie’s" and those that are using or considering using the IvyBot Program.

I first reported my loss problem 22 Aug 2009 to IvyBot support who pro-ported to have a personal interest in all questions since this program was a new Affiliate Launch for them.

I was down about 55-56% at that time, and ended up with an 82% percent loss by the time the Bot shut down. After several follow-ups to support I finally receive a form response on 29 Aug which read like this:

"We're very sorry you are having difficulty. We are seeing much better results than this. Please make sure you are using a recommended broker and that you are using default settings. We are seeing results much like at this site.

..http://www.forexpeacearmy.com/metatrader_expert_advisor/ivy_bot/demo

Thanks, IvyBot team"

I guess the Ivy League School's do not teach customer relations or basic business. After some, more follow up from me, which included a constructive review and evaluation of their site; the errors of omission, the conflict between their videos and printed matter, etc., guess what after all my efforts, I finally got another reply:

"We're very sorry you are having difficulty. We are seeing much better results than this. Please make sure you are using a recommended broker and that you are using default settings. We are seeing results much like at this site.

..http://www.forexpeacearmy.com/metatrader_expert_advisor/ivy_bot/demo

Thanks, IvyBot team"

Fundamentally, I just wanted to know what went wrong; my IvyBot are properly configured, per the video; and once set up "Just Walk Away" which they "hype" several times on their site. My mistake - I did walk away, expecting that the system would take care of me, and protect me against such an "extraordinary" loss.

I found an article on the web saying that IvyBot doesn't use a "Stop Loss" and upon pressing IvyBot, they claim they have an internal trigger that doesn't show on the order. I guess the trigger did not work in my case.

Since this experience, I do not walk away and have watched other Ivy trades that were going bad, and then were cut short. This has left me with the impression that this is a Manual "Close Order" rather than the so-called robot doing it thing. Manual must have been asleep at the switch on my 1st order.

The experts will tell you to use a "demo" account, practice until you are profitable for most of the time, before going "live”. Again, this is great advice for learning the platform, orders and charts. Too bad, I am from the old school of OJT (On the Job Training). I guess I like my knuckles cracked a few times, and when you are "live”, you pay more attention - least I do now. It is a job, not a hobby; it real money not play money.

If you leave the computer running as I said before, the IvyBot can get you while you are gone. We all would like to believe a bad trade can be offset by a good one. However, I am still waiting the really good one, up 206 pips (EURJPY) or 56 pips (USDJPY).

Regardless who makes the claim; does it make sense; use your gut and your brain. Like most things in life, it is still up to you, your decisions. It is still one winner and one loser on every transaction.

IvyBot and others prepare and use some Affiliate Guidelines for advertising;"the IvyBot program that never loses, or the most successful Bot available" What an insult to the professionals who have been doing this for years and years, who may have their own bots or strategies. Where is the track record for IvyBot??

For that matter, even the IvyBot Program oversells itself. Let us not forget, IvyBot needs a support system makeover.

Lastly, for now, make your own decisions. Experts are there like consultants; do not take their advice and blindly follow them; you will lose. IvyBot has made a few decisions that I did not agree with so when they enter a trade, I usually cancel the order; then make an opposite order and continue my recovery from my original loss. Sometimes when you see the charts, it is better to do nothing, regardless of what the experts say. Learn how to read the charts.

Enjoy what you are doing; if you cannot afford to enjoy and learn, don't get involved with Forex. See IvyBot; Join me if you like, bear in mind the lessons that I have learned.

In fact, according to my records, IvyBot lost my initial investment after 2 trades (98.02%) poof, gone. The 100% mechanical robot effectively shut me down after only 2 trades, and after re-investments; as of this writing, IvyBot has lost 5 out of 8 trades that I allowed to continue or lost 62.5% of the time.

IvyBot support finally claims that they have an internal Stop Loss, as I mentioned in a previous entry. Again someone or the robot was asleep when I made my first trade, or maybe they did something after my and others experience with that particular trade.

The problem I see and have experienced with this strategy is that it may have been a good trade decision with a temporary loss, and if the trade had been permitted to continue, the profits would have been realized. Some of the losses that I am experiencing with IvyBot I believe are due to their current Stop Loss strategy.

TIP: One more time, pay attention to your trades and don’t let the experts run your business. Use the experts as a guide, or shut of the “expert advisor tab. All-in-all; IvyBot trades has been losers for me

Let me mention couple more Forex Programs that the forgoing ad didn’t advertise, but ones that I use. If my memory is correct, the above sites are all onetime fees.

THIS HOUR Special Unbelievable Low Registration Price

ONLY $ 4.95!

Your initial charge will be $ 4.95 for the three day trial period. After the trial period, the membership fee is $ 99.90/month until the subscription is cancelled.

See the Chapter 14 Download the Various Screen and Charts

This not what you get in total; but you do get 3 strategies as shown in the following. I only use the Intraday Strategy, and offer it as an example. Daily and Weekly presentations are longer-term trades, forecasting greater profits. With the current market volatility, I do not have confidence in these yet.

I have bolded the R/R column for the first pair USD/CHF which shows a value of 1:1.28 (+7 pips – 12 pips) a sell order recommendation.

• According this these numbers, the USD is more likely to go down by 12 pips, than it is to go up 7 pips. The table headings are SL or Stop Loss +7 and Take Profit -12
• Take a look at the other R/R numbers on the chart and your will see most pairs are near to a 1:1 ratio or 1: to less than 1.
• Note also, the +/- pips for the other currencies, for example EUR/JPY is a buy recommendation and the settings are -20/+20 or R/R of 1:1

Current signals for Friday, October 9th 2009, 09:00AM (09:00) GMT+08:00

If you expect to see the new signals, please refresh (reload) this page.

Pair Signal SL TP R/R Pair Signal SL TP R/R

USD/CHF SELL +7 pips -12 pips 1:1.28 GBP/USD SELL +18 pips -8 pips 1:1.06

USD/JPY SELL +12 pips -8 pips 1:0.94 EUR/USD SELL +14 pips -13 pips 1:0.98

USD/CAD BUY -14 pips +17 pips 1:1.07 AUD/USD SELL +15 pips -12 pips 1:0.95

NZD/USD SELL +15 pips -13 pips 1:0.96 CHF/JPY SELL +15 pips -14 pips 1:0.98

EUR/CHF SELL +15 pips -17 pips 1:1.04 EUR/GBP SELL +19 pips -8 pips 1:1.09

EUR/JPY BUY -20 pips +20 pips 1:1.00 GBP/JPY SELL +17 pips -9 pips 1:0.98

GBP/CHF SELL +19 pips -19 pips 1:1.00 EUR/CAD BUY -8 pips +8 pips 1:1.00

EUR/AUD SELL +19 pips -8 pips 1:1.09 AUD/JPY BUY -14 pips +13 pips 1:0.98

Pair Signal SL TP R/R Pair Signal SL TP R/R

From the table on the same page, or the table on your platform, you must find the Bid and Ask prices for which USD/CHF: 1.0306/1.0310 (at that time) See sample of today’s eToros Insight and Market Watch below

See the Chapter 14 Download the Various Screen and Charts

At that time, – the Bid/Ask price was, 1.0310-1.0306 or a spread of 4 pips.

Spreads usually vary 3-6 pips; but I have seen that they can vary as much as 10 – 17 pips. The value of each pip also varies for the pair, meaning plus or minus $1 per pip. They can also vary from one broker to another; which you should note if you are using more than one Forex Broker. For example as of 19 Nov 2009 0445: At that time I was reviewing the EUR/AUD pair. The pips or spread for one of my brokers was 6 (PGFBest), for another it was 9 (FXDD) and for the third, it was 16 pips (eToro). eToro was the highest cost of doing business.

According to FXAM you only need 1 click. Yes, that is one click, but that only brings up another screen, which asks you to enter the Bid Price (sell order) or Ask Price (for a buy order). It does not execute the trade. In our example, we are selling so we enter the Bid price of 1.0306, press the calculate tab and it calculates the SL of 1.306+7 which equals 1.0313. The TP calculates from the Ask price of 1.0310-.0012 equals 1.0298.

In order to make sensible investing decisions you have to know what you are doing. You need time and skills to figure out which button to press. Most people don't have time and skills to achieve this, and therefore they lose money. And ... 98% of Forex investors lose their money! What about the remaining 2%? That's the point. These 2% of investors get everything that the remaining 98% lose. This means unimaginable amounts of money passing from hands to hands every day.

The 2% who get all the money KNOW what to do, because they ALWAYS use proper software that makes the decisions. Only machine, a powerful computer that analyzes all the data from the market is able to make the right decision. Machines don't have emotions, they don't know what fear or greed means, and they never act according to intuition. They obtain the results by means of calculation, and this makes them the best advisors. That's why 98% of ordinary people lose their money to 2% of wise investors.

Some of the Forex gurus talk about automated Forex systems and they even sell these systems to other people. These systems are supposed to tell you whether to buy or sell. They draw charts, lines, and arrows. But unfortunately, they DON'T WORK. These systems, delivered as eBooks or simple computer programs have one big disadvantage: they do not learn. In addition, the market evolves daily and every new day requires a fresh, modified approach. Only supercomputers connected to the Internet 24 hour a day are having the power to analyze the markets in real time, which enables them to correct their predictions dynamically.

That's why the BEST and the ONLY working way to earn money on Forex is by using READY buy/sell signals generated by highly specialized, intelligent, and self-improving software. Forex AutoMoney, as one of the very few companies in the world, offers access to such signals

Note to members: the $ 4.95 is only for a 3 day trial period; and then monthly cost is $ 99.90 per month. I think I paid $ 6 and received a 6 day trial period. Regardless, whether 3 or 6 days; there are several other steps, you need to take before you can execute the “1 Click Strategy” claimed by FXAM

• Download and install a trading platform
• You also need a Broker to make your trades, whether a demo or a live account. Getting a broker can take 3-6 days, so poof, your trial period is over and the $ 99.90 per month clock will start, before you even get started
• Let us not forget, you also have to fund your live account, if you go live. So you are already spending money before you even get started.

NO - You cannot just click a button to make a trade. FXAM has enabled you to generate the details of their recommended trade, a sell order for USD/CHF, but it far from a 1 clicker

If you only have one computer, then you have to change screen or tabs to bring up your trading platform. Then if you did not take time to write down the trade, you will probably have go back and forth from your FXAM page to your trading platform page to enter the trade in your platforms New Order Tab before you can enter the SELL key.

If you are old and slow like me, so I am told, then guess what: in a moving market, real time; everything can change before you complete your trade order. If you do observe a change; then you have to start over and recalculate your settings. If not, you may “instantaneously” lose your money as soon as you hit the “sell tab”

Earlier, I asked you to remember that the spread was only 4 pips. Our FXAM sell order set the TP level at 7 pips, RIGHT? Again, in moving market, 7 pips minus a spread of 4 will leave very little room for error, or because of a slow reaction time. I have been caught a few times by having the order shut down on me before I could realize what happened to me. So while the higher ratio R/R looks good, the small number of pips remaining after the spread, may cause you a problem

I certainly do not recommend you follow my advice; but I buy and sell without using the SL or TP entries to speed up the buy or sell process. After the trade has been running and I am comfortable with my Buy or Sell decision, I may enter the settings while I do something else.

Once the order has been running and if it is in your favor, the SL or TP number will illuminate, giving you an opportunity to modify your setting to perhaps get more profit.

Above we displayed eToro’s Traders Insight next to the Market Watch. Compare the FXAM recommendations with the eToro choices. If the both agree or disagree, look and learn the charts. More often than not, I have found disagreement, so I look at the charts. The 1H shows you an hourly picture; whereas, the M1 or M5 chart is more current and detailed (smaller window of time). If I don’t like what the charts are showing me, I don’t do anything. If the market is flat, that is no clear direction one way or another, don’t do anything regardless of the experts.

FX eToro is a breakthrough approach to Forex trading. A trading platform that uses pioneering trade visualization to create a simple and friendly interaction with the financial market.” I feel this system great for the beginner or the experienced. Its new platform is quite different from other platforms, is less complicated, and very user friendly. eToro trades both Forex and Commodities of Gold and Silver. Not only is the platform new; but their approach to broker/client business is new.

Most platforms execute a transaction and you don’t realize a profit until you have made up for the spread. For example, if you execute an order with a 5 pip spread. Your loss will start at a minus 5 pips. If the pip is worth $ 1 each, then you start with a minus $ 5 profit. When the trade is in your favor, and the minus 5 goes become a positive number, this is your true profit for the transaction. However, with eToro, they tell you the cost of the spread when you execute and when you close the transaction. SO BEWARE.

For Example: The site may say you have a profit of $ 5 or a profit of 105% on a $ 50 order. If you execute then execute a close, your $ 5 profit pays for the 5 pip spread and you get zip, narda, nothing. (+5 minus the 5 pip spread = 0). If the chart says you have a 20% gain or $ 10; in reality, you actually only have a 10% gain or $ 5 after the deduction is made for the cost of the spread. This extra step of having to verify the spread can also cost you in a fast moving market, because closing the trade is no longer instantaneous with eToro.

The eToro system will only allow you to lose the amount of your transaction investment; a $50 transaction will close if the loss gets to $50. This is OK for short trades, but in a volatile market bigger swings can occur. Shutting off the trade doesn’t allow you to time to recover. So I let my other brokers ride out the swings with me, and use eToro for short trades only. If you are not willing to risk $50 on a $50 trade, then you can Manually adjust the SL to say $10.

As shown above, the cost of doing business with eToro seems to be typically higher than with other brokers. Watch your pips spread, before you trade. I have noted that I like eToro for short term trades, but with a pip spread of say 16-17 pips; it is going to be difficult to profit on short term trades, if your cost is so high.

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