FXTradingReviews Forex BlogReal Reviews of Forex Trading Systems

1. Manual Trading (Using the Trading in the Buff the method on my live Account at IBFX)

I learned a valuable lesson this week – never ignore the news! On Monday I entered a trade on USDCAD without first checking the Forex calendar and this turned out to be a big mistake. A major announcement affecting CAD was made soon thereafter and the USDCAD price whipsawed all over the place, resulting in a 50 pip loss for me. Luckily I had some good trades the rest of the week and recovered most of those losses. If I had been more careful I could have easily had another 5% week, but because of my own mistakes I ended up making a 1% loss. Despite of the losing week I am still 3.5% in profit after 2 weeks and the 10% profit target is definitely not out of reach. I am still developing my own strategy with this method, but once I have some more experience I will put together a bonus guide with my exact entry and exit strategies etc.

2. Robot Testing in Live Accounts

It’s been a frustrating week for me in this regard. Due to what can only be called a “series of unfortunate events”, I won’t be able to start my real money testing of Fap Turbo and Forex Megadroid before the 1st week of February. The reason for this is simply that it will take 2 weeks to get the tax clearance in place that my bank requires before they will do an overseas wire transfer to fund my accounts. For now I guess I’ll just have to be patient with this.

3. Robot Testing in Demo Accounts

On the demo testing side things didn’t go much better last week, because all my Alpari demo accounts were deactivated for no apparent reason. I’m not sure if this is something they do every new year, but I’ve lost all my demo account statements and had to re-start my robot testing in brand new accounts. So as of today we are starting with a clean slate, which is perhaps not such a bad thing. For the moment, I have Forex Godfather, Fap Turbo and Forex Megadroid running on demo accounts and none of them have made any trades yet.

This week I spent a lot of time researching new robots and after a lot of consideration I have decided to purchase FX Broker Buster. I have had some good feedback about this robot and the results reported by their customers seem to match the live accounts that they display on the FX Broker Buster homepage, so I am interested to see how this one performs. If you have purchased this robot, please let me know how you have found it. I’ll postpone this purchase for a day or so, just in case I receive different information in response to this.

4. New Products

There has been a number of big launches the past week, but the one that really caught my eye was the Powerband Dominator System by Dean Saunders. I’m a fan of Dean’s systems and I know him personally, so I’m always curious when he launches something new. I don’t think I’ll be able to do extensive testing with this system soon, but I had a quick look at it and it definitely looks very good.

5. Robot That I’ve Stopped Testing

Please visit the Live Testing Page for more details on all the robots I have tested so far.