Tag Archives: Reviews

ScriptLance Review

ScriptLance

Hi there. A while back I introduced the ScriptLance affiliate program, and since then I managed to actually get to use ScriptLance as more than just an affiliate. I now have two completed projects under my belt – as a buyer – and I figured it would be a good time now to write a review of ScriptLance itself in case some of you are thinking of using the site to hire a programmer/web designer.

For those of you who are unfamiliar with ScriptLance perhaps it would be best to take a few moment to describe exactly what this site is all about. Well, essentially ScriptLance is a marketplace where freelance programmers/website designers/graphics artists/etc compete for your business by placing “bids” on your project(s). ScriptLance provides the platform or “marketplace environment” which facilitates this process .

So, say if I had this brilliant idea for a website that is going to become big and make me a lot of money. If I possess the necessarily technical skills to bring this idea into reality then things would be quite easy for me, but if I do not then the only logical course of action would be for me to look for a talented programmer/web designer who can create this proposed money making website for me.  The next step I would take is to start a “project” on ScriptLance and describe precisely and as detailed as possible what I’d like to have done, and set a specific budget range (say minimum being $10 to $200). One I submit the project it will appear on the ScriptLance website where freelance programmers would see it and bid for the job. Once I decide which programmer I’d like to hire I close the project and that’s pretty much it. This in a nutshell is how ScriptLance works. If you think that my description above sucks perhaps this video explains things more to your liking?:

[youtube gb9HCab4Lcc nolink]

Competition is good, and in the case of ScriptLance having programmers and website designers compete for your business is a good thing as it will mean lower development costs for you. There are TONS and TONS of freelance programmers on ScriptLance and the competition is fierce. As far as I know ScriptLance is one of the most popular freelance sites out there, and as a result any self-respecting freelancer or development company will most likely have an account on there. You can find some really talented people on the site, that’s for sure.

Speaking from a buyer’s point of view here is a list of what I like about ScriptLance the most:

1) It has a HUGE pool of freelance programmers/website designers

2) Simple to use and effective website

3) Lots of competition for my project(s)

4) Cheap services – you would not believe how low some of the offers from programmers can be. Beware though that choosing the lowest bid is NOT always the best decision. Try to strike a balance between cost and what you perceive to be the quality of the programmer in mind.

5) Low fees – I think the fees charged by ScriptLance are VERY reasonable and I do not mind paying them.

How much are the fees?

There are no sign up fees and no monthly fees.

Buyers can post projects and receive bids/quotes for free. Once the buyer selects a winning bid their account will be charged a flat fee of $5, which must be paid within 30 days. Fees are refunded if the project is cancelled.

Programmers are charged a $5 or 5% fee (whichever is greater) when their bid is selected as the winner for a project. Programmers also have 30 days time to pay this fee, and it is refunded if the project is cancelled.

Is it safe to use? Will I get scammed?

ScriptLance has to say teh following rgegarding this topic: “This is not common problem for our members, but still, it is smart to take precautions to avoid being a victim. Please read the project guidelines we have created. Most importantly, use escrow for payments and communicate often.”

Escrow! Yes, make 100% sure you ALWAYS use escrow for payments. If a programmer approaches you and says that he will complete the project for a lower fee if you pay him via some non escrow method (ie PayPal direct to his account) STAY AWAY from this programmer and look for another one. Always make sure you follow the project guidelines on the ScriptLance website. So far I have NOT been scammed. The only complaint I guess that I have – and this is NOT directed at ScriptLance itself but more or less a large portion of the freelancers that use their site – is that many of the freelances are from non English speaking countries and as a result sometimes their communication skills are horrendous. But then again these folks with their horrible English and communication skills often provide some pretty damn good services at a ridiculously low rate! So will I still hire someone from say India, heck yeah!

I think that about does it for this review. Now if you’ll excuse me, I’m going to hop on over to the ScriptLance website and check on the latest bids for a new project that I’m working on.

I wish you all the best of luck with all your various online ventures. If you have an opinion regarding ScriptLance that you’d like to share with me and other entrepreneurs feel free to comment here, or visit my  Money Guru forum and start a thread.

Cheers,

Alan

Affiliate Project X Review

affiliateprojectx.jpg

I don’t know what got into me, but this Affiliate Project X product caught my eyes as I ran across it during a Google search, so I decided to give it a try after reading the long sales page. I’ve been doing the whole “affiliate marketer” thing for a while now so I’m not a complete newbie at this. The sales page (it IS trying to sell you something after all!) made it seem as if I was going to uncover some secret formula what will make me hundreds of thousands of dollars, so after I paid via ClickBank I was thinking, OK, let’s see whether this is all BS or a possible golden goose. After payment I immediately gained access to the members section where I proceeded to download the “Project X Manual” At this point I was a

I flipped quickly paste the intro pages and got into the meat of the subject matter and to my shock and surprise the manual talked about ClickBank AND AdWords. At this point I was thinking to myself “Uhh, I know how to do this already!” That’s pretty much all I needed to see to know that this product is not for me. Is it right for you? It all depends!

The bottom line is this; if you’re an intermeddiate to advanced affiliate Affiliate Project X is NOT for you. If you’ve never heard of ClickBank or AdWords and have no possible clue as to how you can possibly use the two to make money, then you may want to give Affiliate Project X a consideration.

Before I end this post I should also mention another thing that turns me off about Affiliate Project X. Some of the techniques promoted such as offering a bonus or refund are practices that violate the terms of service for Clickbank affiliates. So be careful with this one! Although the techniques the author of Affiliate Project X work, they are dangerous! It’s up to you in the end if you want to take your chance and possibly have your ClickBank account suspended.

Now as for price, it costs $97 and there is a guaranteed money-back policy if you decide it’s not for you (I’m waiting for my refund)

So in conclusion:

Who should buy it – Complete newbie affiliates

Who should NOT – Intermeddiate to advanced affiliates

The sales page can be viewed over here.

That about does it for this review. Thank you for your time and attention. Come back often (or subscribe to my RSS feed) as soon I’ll be posting some videos for all you beginner ClickBank affiliates.  They’ll tech you how to create a pitch page, create hoplinks, etc.

Cheers,

Alan!

FapTurbo Review

fapturbo.jpg

Hello everyone. A while back I purchased the FapTurbo forex trading robot and made a few posts with preliminary performance results. After a period of testing I am confident that I have enough performance data to share with you all and to put together a review. As usual this review will be a zero bullshit review with actual forward testing performance results – we don’t need no stinkin backtests!

I am going to write this review keeping in mind forex newbies as well, so my apologies to those of you who are more advanced if some of the items I will discuss will strike you as one of those “whatever, I already know that” type of things.

Alright, so let’s get started with the review!

What is FapTurbo?

FAPTurbo is a forex trading robot (most commonly referred to by traders as an “Expert Advisor” or “EA”) for the popular MetaTrader 4 trading platform. Essentially fapturbo is a program that automatically trades for you – simple enough, no? OK, let’s move on.

Who created FapTurbo and how did it get started?

From my knowledge FapTurbo system was developed and is being maintained by a trio of traders – Mike, Ulrich, and Steve.  FapTurbo has it’s roots in another trading system called “Forex Autopilot.” The FapTurbo developers essentially took the Forex Autopilot robot, made numerous improvements and branded the resulting product as FapTurbo. I will get into what improvements FapTurbo brings later on in the review.

Important things you should know about FapTurbo:

1) FapTurbo uses 2 trading strategies, a long term strategy that runs on the EUR/USD pair and a short term strategy (scalper) on 4 other pairs. You can run both strategies on the same account.

2) FapTurbo long term strategy runs on the EUR/USD currency pair on the M1 time frame.

3) FapTurbo scalper runs on: EUR/GBP, EUR/CHF, GBP/CHF & USD/CAD on the M15 time frame.

4) FapTurbo scalper trades during the briefly low volatility night European session (in EST that would be from 4 pm to 9pm roughly) Thus the scalper is not a frequent trader.

5) Both FapTurbo strategies implement special filters to prevent trading in dangerous market conditions.

6) FapTurbo scalper will NOT trade if the spread exceeds its reprogrammed value.

7) Both FapTurbo strategies implement a stealth mechanism that hides the true stop loss and take profit levels from your broker, thus reducing the likelihood of stop loss hunting (yeah I know it’s sad but you’d be surprised how many brokers do this)

8) FapTurbo can be used on an unlimited number of demo accounts but can run live on only ONE account at once. If you decide to switch to a different broker you have to e-mail FapTurbo support with proof that you’ve closed your previous account before they reset your activation key. Please keep this in mind! So choose live brokers wisely!

I think that pretty much covers all the important details. I may have forgotten a few items so I will add items later on if need be.

Now let’s talk performance! I know you skipped directly straight to this section ;) !

Performance Results:

As I said previously FapTurbo uses two trading strategies, thus there are three possible combinations you can use – scalper strategy alone, long term strategy alone, or scalper & long term strategy running at the same time. In the interest of thoroughness I have tested all three possible combinations. Here they are:

Long term strategy alone (EUR/USD M1):

Using a Lot Risk Reductor setting of 1.0 (1% of account balance – very low risk)

pdf_icon.gif

*click the pdf icon to download*

Scalper strategy alone:

With the scalper I am using a Lot Risk Reductor setting of 1.5 (1.5% of account balance)

pdf_icon.gif

Both scalper & long term strategy:

Lot Risk Reductor setting for EUR/USD is set at 1.0 and for the scalper pair it’s set to 1.5 for all pairs. Thus I am using very conservative settings (hey it’s my money on the line)

pdf_icon.gif

There you have it folks, verifiable third part performance results. As you probably have noticed the scalper had a rough time the last week or so, but in the end it still netted me some nice profit. The long term strategy is also quite profitable but I’d say also more risky because the stop loss it uses is higher when compared to the scalper AND it also opens multiple positions at once. By default the long term strategy has a setting of 5 max open trades but if you want to trade a bit more conservative you can lower this setting. I would not suggest you do this for the reason that having more then one position can act as a protective hedge. FapTurbo long term opens BOTH short and long positions (buy & sell for the newbies) so having it trade with 5+ positions at once not only means more profit in the end but also greater protection from price spikes and strong trends. So like I said I suggest you leave the setting alone unless you really know what you are doing.

As for the scalper, it trades with only one open position per pair. It’s only protection from the market is a filter known as the “MaxHeightFilter” which uses candlestick analysis to dictate whether to open a position. There is also the spread filter I mentioned earlier in this review, but that’s more or less a “common sense” type of filter if you may. The scalper does NOT trade on Friday & Monday (European session time!) as these two days are generally considered “risky” by traders. Thus it leaves NO open trades over the weekend. The long term strategy on the other hand DOES. But you can turn this off if it makes you uncomfortable. The long term strategy also has a NFP (non-farm payroll news release) filter which can be set to either on or off – by default it is on so it WILL trade the NFP release.

Looking at the 3 performance statements you can see that the most profitable combination is using both the long term and short term scalper strategy. Personally I prefer the scalper strategy best because it seems to me the “safest” trading method. If you are going to use both strategies on the same account I HIGHLY recommend you double your starting account balance. Adjust your risk setting (LotRiskReductor) setting accordingly and do NOT exceed 10% of your account.

Ok, let’s move on to the final section section of this review and talk about this forex robot’s pros and cons:

What I like:

1) It’s profitable so far!
2) Easy to use and setup
3) Excellent filters that prevent the robot from trading in risky market conditions
4) Fairly inexpensive considering its profitability level

What I don’t like:

1) FapTurbo support can be slow at times
2) Being limited to only 1 live account per license
3) Expert advisor has an expiration date so you have to download a new copy every month – even if you don’t want to.

As for the support being slow, well, one way that you can get around this is to seek the help of other FapTurbo traders such as myself and others. I’ve put together a forum for all Forex Autopilot and FapTurbo traders and I recommend you come and join us.  The forum has over 2000 fapturbo traders already so it’s definitely THE place to discuss all things FapTurbo related. Also the FapTurbo developers post regular updates on the forum as well. The link is:

http://www.forexautopilotforum.com

In conclusion, the FapTurbo expert advisor is a profitable forex robot that does exactly what it claims – make money. However please be realistic about this and don’t expect it to make you a millionaire overnight or to not have any losing trades.  The FapTurbo developers so far have been keen on releasing regular updates so as long as they keep at it this product should continue to remain profitable into the foreseeable future.

Having considered all pros and cons carefully I give FapTurbo a rating of 9.0 our of 10.

Rating: 9.0/10

You can get a copy of the FapTurbo forex robot by visiting the link below:

http://www.fap-turbo.net

This concludes my FapTurbo review. Thank you for your attention and for visiting my blog. I hope you come back again.

Happy trading!

Alan
http://alansmoneyblog.com

Numox Review

Numox Logo

UPDATE: Well, well, look what I’ve found. Before you read ahead I STRONGLY suggest you read this article

It casts serious doubts on the whole Numox enterprise! Read it carefully before you decide to use Numox. Having read it I came to the conclusion that Numox is not a safe place to store value.

*Kudos to Mark Herpel from DGC Magazine for letting me know about this article*

Good day e-currency enthusiasts. Today I am going to take you through a review of a new player on the e-currency scene called Numox. Numox Ltd. is a legally registered entity of the Republic of Seychelles, registered on 17 of July 2006 with company number 029556. NUMOX and NUMOX.com are entirely owned and operated by Numox Ltd.

The company’s registered address is the following:

Numox Ltd.
C/O COTE D’AZUR-MAHE
Trinity House 1st Floor,Albert Street
Victoria, Mahe POBOX1402
Seychelles

907693637 Fax —

*If you live in Seychelles or are knowledgeable in the offshore world and you’d like to help me out a bit by verifying Numox’s corporate address and company registration number please get in touch with me – use the e-mail in the “About” page at the top *

Looking at the DNS record for numox.com we can learn that it was created on the date of Feb 25, 2005 – one year before Numox Ltd. became incorporated. Alright, let’s get into some detail about Numox and see what it has to offer.

What does Numox offer?

Numox touts the following string of benefits:

  • Always 100% backed by gold, other precious metals and risk-free financial securities
  • Trusted global payment system and real-time electronic currency in one
  • Fully offshore operated
  • Instant and irreversible transactions (no more fraud or chargebacks)
  • No fees – you can choose who pays the fees
  • Multilevel Referral and Affiliate program
  • Send funds by e-mail
  • Escrow service, Mass payments, Request payments
  • Coming Soon: NUMOX Debit Cards directly linked to your account
  • Offer free affiliate revenue sharing program for your products and services

The gold backing is the first thing that caught my eye about Numox. This is great news for digital gold currency fans as another competitor on the scene not only gives consumers more choice but it should also push competitors to offer better services and lower service fees. Another plus in my book for Numox is the fact that they’re 100% offshore. After the legal nightmare e-gold went through (and now even prison sentences dished out to its principals) even a dullard will tell you that the United States is not a place where you’d want to start and operate an e-currency provider. Actually the number of countries that offer the necessary conditions for operating an e-currency provider are by far outnumbered by the ones that do not. Seychelles is a fairly good offshore location in my opinion. If Numox is indeed 100% offshore operated as they say, then in principle at least it should be very difficult for rapacious foreign government authorities to touch Numox.

The one thing that I do not understand about Numox’s business plan is the “risk-free financial securities” backing perhaps some or all of your Numox account. Just exactly what “risk-free” financial securities they have in mind is not made public. Do they intend to back the Numox e-currency with bonds, stocks? What exactly? My gut feeling tells me this is a bad idea. Backing an e-currency with something of intangible value is suspect and could prove financially ruinous. Let’s say a portion of your Numox funds are backed by some “blue chip” stock the Numox folks decide is “good enough” to actually be turned into a virtual currency. Now let’s imagine that for whatever reason the value of these assets on the market drops significantly or just tanks completely. You are basically left with worthless digital units – nothing but numbers in a computer database. Funny enough that’s what US dollars and other fiat currencies happen to be (used rather loosely – checkbook money), but I digress.

I think backing Numox with solid gold or other precious metals is by far a better idea than backing it with these so called “risk-free” financial securities. Risk free financial securities? What an oxymoron!

Also I would expect of Numox to eventually show a third party audited proof of actual gold backing.

How do I fund my Numox account?

You do it as you would with any existing e-currency, by visiting a “certified exchanger” and exchanging your fiat currency for Numox e-currency. At present there are 5 certified exchange agents available for you to use. They are the following: Ecash Services , EuroGoldExchanges , GoldNow , HyGold , Midas Gold Exchange

How do I withdraw money from my Numox account?

Just as easily as you deposited. You can use one of the above 5 certified exchangers and eventually later on you’ll also be able to use Numox’s own debit card solution.

What fees does Numox charge?

Deposit money
Only fees of our certified exchangers
FREE
Withdraw money
Only fees of our certified exchangers
FREE
Send/Receive Money
Ability to choose who pays the fees (sender, receiver, share fee with recipient 50:50)
0,5% – max. 0,35 USD
Escrow
Ability to choose who pays the fees (sender, receiver, share fee with recipient 50:50)
1% – min. 0,50 USD
Mass Payment
Ability to choose who pays the fees (sender, receiver, share fee with recipient 50:50). Fee per each recipient
0,5%

How functional is the Numox website?

My first impression upon logging into my Numox account was of surprise at the number of choices you have in the user menu to the left. Keep in mind that the whole Numox website and system is in “beta” mode so n doubt they’ll improve and streamline their website with time. But, so far I think the website is very well designed already and is quite functional. You have the major account functions available via buttons at the top of your account website and the rest of the more specific and advanced functions available to the left. As they say a picture is worth a thousand words, so I made a screenshot of the Numox user interface. Check it out by clicking on the thumbnail below:

numox-panel.jpg

What level of security does Numox implement?

Numox implements a 2 stage security system. The first thing you have to input when you log in is your “PIN Code” Afterwards you are brought to the main login page where you’ll be asked to type in Numox username, your password (which you can also input via a secure virtual keyboard) and the – these days mandatory – turing code. Once you’ve satisfied these security requirements you’re taken directly to your account page.

Does Numox have DDoS protection?

Distributed denial of service attacks are becoming more prevalent these days, and these attacks have become the bane of many popular websites. They cause lengthy interruptions in a website’s services by flooding it with traffic beyond the intended or reasonably expected level. Thankfully Numox does employ DDoS protection offered so at least in theory DDoS attacks shouldn’t shut them down.

Does Numox offer a shopping cart or API?

Yes it does. I’m not a coder so I can’t tell comment much on their implementation, so I encourage you to visit visit Numox’s website and sign-up for an account if you want to find out more. They have PHP, ASP, and .NET code samples and other such documentation.

Conclusion

There you have it folks. Another e-currency makes its debut and is inkling to dominate the e-currency world. Will Numox thrive or will be crushed by competition or by some “outside influence” ? Your guess is as good as mine, but for now Numox appears like a promising startup and I wish it the best of luck.

Those of you who wish to open up a Numox account are invited to visit their website over here.

Thanks for your attention!

Oh, I almost forgot. I also started a thread on my forum so we can discuss all things Numox related. Check it out over here:

http://www.moneyguruforum.com/other-e-currencies/14703-numox.html

Cheers,

Alan

AlterGold Review

AlterGold

Greetings everyone. There is a new kid on the payment processor/e-currency block, and its called AlterGold. By the look of their WHOIS DNS record AlterGold went operational in August, 2007 so they’re very fresh participants in the payment processor industry. Still, I think they deserve a change to prove themselves, and hopefully they will stick around long enough to prove of value to customers like me and you.

So without further ado, let get started with the AlterGold review.

About AlterGold:

AlterGold is a subsidiary of Digital Group Inc. a registered legal corporate entity in the Republic of Panama in Central America. I like the fact that they’re located in the very popular offshore jurisdiction of Panama. This can bring certain benefits but also some disadvantages as well. However, these are out of the scope of this review.

Everyone is welcome to confirm their corporate registration details using the following information in government records:

Government Document ID: 1277070
Data Card: 599519

How does AlterGold work?

AlterGold is essentially an e-currency backed 100% by US Dollars. So each unit of AlterGold is valued at $1. It pretty much works like e-bullion e-currency, Liberty Reserve USD, and other such USD backed e-currencies. AlterGold units can be exchanged for any other e-currency or be withdraw to an ATM card or bank account.

In spite of the “Gold” in its name, AlterGold is NOT backed by gold. Also AlterGold should not be misconstrued to be a bank – it does not provide banking services!

I should also mention that AlterGold all payment are FINAL. AlterGold is a 100% irrevocable payment system and digital currency.

Account Types:

AlterGold offers two account types – Personal and Business.

Account Holding Personal Business
New Account FREE FREE
Minimum Spend Amount $0.01 USD $0.01 USD
Spend Funds FREE FREE
Receive Funds Fee 1% 1.5%
Maintenance Fee * FREE $2.95

Per month. Charged if balance is $100.00 or more.

Shopping Cart Interface (SCI) Yes Yes
Automated Spends DISABLED Yes
Limited User Passwords DISABLED Yes
Currencies Supported 22 22
Maximum Balance $1,000 Unlimited

How can I add funds ?

You may add funds into your AlterGold account using E-gold, LibertyReserve, Virtual Money Card (VMI), SpeedyWallet, Western Union and MoneyGram.

How can I withdraw funds ?

Funds can be withdraw from your AlterGold account to LibertyReserve, E-gold , VMI Card, SpeedyWallet ATM Card, Western Union , Money Gram and bank account.

AlterGold Debit Card

You can also buy a debit card that is supposedly accepted at over 900,000 ATM machines around the World. This card can be paid for and funded anytime with your AlterGold balance. You can withdraw up to $3,000.00 daily with your Debit card.

Worries and Concerns (don’t skip this)

On the surface AlterGold looks okay, but there was one thing that worries me, and I think you should take notice. It seems that AlterGold uses a free DNS hosting service:

ns1.dns-diy.net

ns2.dns-diy.net

Diy.net is a free dns hosting provider

You would think they could at the very least afford to host the domain on their own server(s) or with their own hosting company.

I also recommend you checkout their WHOIS record over here:

http://whois.domaintools.com/altergold.com

I just hope that AlterGold is not a fly by night operations. I guess only time will tell.

I’ve read nearly all the forums and reviews of AlterGold, but I honestly can’t make up my mind as to whether AlterGold is for real or is just another cleverly done scam.

UPDATE: See the links at the bottom of this post. Having read those two postings I now feel strongly that AlterGold is yet another elaborate scam.
Can some of you folks bring some input on this? Join me in a discussion on my forum:

http://www.moneyguruforum.com/other-e-currencies/13362-altergold.html

That about does it for this review. When I have more info or experience with this new payment processor I will make sure to post it either here or on the above forum thread.

UPDATE: See these e-commerce journal articles about AlterGold before you decide to join.

Part 1 is over here.

Part 2 is over here.