Featured > Trading Robots
Forex Transporter
8
Mar
Donna’s Review:
Forex Transporter comes with a comprehensive manual that makes it easy to manually install on the EURUSD H1 chart. You can run this robot on a $500 account but a $1000-$5000 is reccommended. According to it’s designers, it will run quite happily with other EAs on the same account with proper money management.Â
The Manual
The manual claims that Forex Transporter is the perfect EA for a “newbie,” as there are few variables within the EA. This is apparently the target, as the manual show every step, from installing MT4 to choosing setting options on the robot, with pictures of every step to boot.  We put Transporter straight on demo (”Out of the box,” so to speak) to see if someone who is new to Forex or robot trading could easily install it and make a profit. It has been on demo since 25 January 2010.
Support
Support was quick, polite, and efficient; a request sent was answered within 12 hours.
Analysis
Transporter trades seldom; it has closed only 4 trades since we began testing. It is, however, holding 5 trades open, and some have been open for 4 weeks! Not all are in drawdown; the drawdown is quite high compared to its gains, though, at close to 7% currently. In addition, those 5 trades could, in the long run, take up a lot of margin room, so this is something one will need to weigh when using this robot. It does not seem to trade at consistent times of the day or night, nor does it seem that it has any typical number of trades to place per week.
Overall
The robot is overall profitable, even if it is not the stellar results one might be used to. A 1.5% gain has been made in the first month of trading, and with low-risk settings. This robot looks promising thus far, but cautiousness will be necessary with a building drawdown.
Note About Our Stats Page
Our Forex Transporter stats became unavailable as the broker deleted our demo account, hence we are unable to share previous results. We have restarted a new demo unfortunately you cannot view the results as it has not traded on the new account.
Update 22 March 2010
There have been a number of scam allogations regarding Transporter we felt it would be best to withdraw it from test as we cannot prove them, however we tend to belive that they are true.
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Donna, I've been following you since Jan 09 on the FAB Turbo forums etc. Your energy and patience answering all those repetitive questions from newbies (such as myself), month after month has been exceptional, and what you are doing now is great.
Your straightforward approach to Forex trading with EAs is a breath of fresh air. I really like the simple black and white approach to the website as well.
Bob
4 Comments
It crashes and makes you loose all your money.
It’s been reviewed by 4xProject and PeaceArmy. Both show without any space for doubt that this EA is only garbage and nothing more.
Take a look at the open trades: http://www.forexpeacearmy.com/metatrader_expert_advisor/forex_transporter/demo
Donna, use Myfxbook.com to show results – even if your broker deletes the data, it will remain intact in your Myfxbook.
Just my 2c.
This thing destroys any account it touches. Its clearly a martingale strategy. The people who built this thing also built godfather and juggernaut, both of which are in the hole. Transporter has got to be the worst one though….
daniel,
thank you for that succinct review
so much better than trying to find what the conclusion is.
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