FXTradingReviews Forex BlogReal Reviews of Forex Trading Systems

I’ve stopped trading for the year and this will be my final newsletter for 2009. I will resume my robot testing just after New Year and you will receive my first newsletter for 2010 on the 5th of January.

Firstly I have to mention that I forgot about Forex Godfather in my previous post. This robot has only completed 3 trades in the past month, but it has made a profit of 380 pips so far and the account is in profit by 25%. So, apart from Fap Turbo and Forex Megadroid, this will be the only robot from 2009 that I will continue testing next year.

Due to the poor performance of the robots this year, I’ve decided to give more attention to manual trading systems and signal services in 2010. I have purchased and reviewed various products over the past month and have already chosen the ones that I’d like to start with, but I won’t say more about that for now. If you have any specific requests in this regard you are welcome to send me an email and I will investigate.

Lastly, there is a lot of hype at the moment about the new Forex signal software that was launched yesterday called Forex Mutant. I haven’t had a chance to check it out yet, but if you have purchased it, please let me know what your thoughts are so far?

At this point I would like to thank you for your support over the past year. I hope to return the favour by adding a lot of value to your Forex experience in 2010. Have a merry Christmas and a very prosperous New Year!

I have decided to start posting my weekly newsletter here so that new subscribers can visit past editions and get up to date with where we currently are. This is the first version of my email newsletter that is also posted on the blog.

Firstly, I have to mention that the experts don’t recommend trading between 15 December and 5 January. The markets are unpredictable during the holiday season and in most cases it is safer to just stay out for a while. I follow this advice and will stop my robot testing by the end of the day tomorrow, so this will be my final performance report for 2009.

I’ve decided to do a cleanup and get rid of all the robots that are not producing good results. After completing this exercise I surprisingly ended up with only 2 robots in my list – Fap Turbo and Forex Megadroid. You can read more about why I stopped testing all the others below and let me know if you don’t agree. In a way I think it will be good to cut the losers and make a fresh start in 2010.

There won’t be a robot testing report next week, but I will send some closing thoughts for the year and tell you more about some of the plans that I have for next year. I hope to launch a number of new things that will add value to your Forex trading and I’m sure you will enjoy some of the things on the agenda.

Here are the robot testing summary for 2009:

1. Robots Showing An Overall Profit

Fap Turbo: Out of all the robots I have tested, Fap Turbo is still one of the most consistent performers with the test account making a profit of 36.7% over the last 4 months. I believe that one of the keys to success with this robot is to know which currency pairs to trade with at any given time and this is why I’m using the settings provided by Rob Casey in his Fap Turbo Expert Guide. Another key factor to Fap Turbo’s success is the broker that you use. I’m still thinking of how to incorporate this variable into my testing, but I’m fairly certain that the next logical step would be to move this Fap Turbo test into a live real money account. More on this in January.

Forex Megadroid: I’ve been testing Forex Megadroid with different settings for exactly 5 months now and the overall account has grown by 40.2% during this time. I’m currently using the default settings, with a RiskLevel of 0.30 and Aggressive mode turned OFF. Trading activity is low, but Megadroid still has a very high success rate and it’s still one of only a handful of robots that have had success throughout 2009. I believe that Ben Cook is re-releasing his Advanced Droidtactics in January and I look forward to testing that again to increase the number of trades. In addition to Fap Turbo, I’m also considering moving this test into a live account in the new year.

2. Robots That I Stopped Testing

(NOTE: See more details about each of these tests on the Live Robot Testing Page.)

No Loss Robot
Robominer
Forex Hacked
FX Nitro
Forex Bling
Forex Cyclone
M5G Cyborg
Forex Monster
PipTurbo
Forex GridBot
IvyBot
Forex Decimator

Please subscribe using the form below if you wish to this weekly newsletter via email.