FXTradingReviews Forex BlogReal Reviews of Forex Trading Systems

Before I give you the results for last week’s trading, I’d like to mention a new robot that I’m very interested in. It’s called USDBOT and it’s launching tomorrow morning at 9am EST. Like me, I’m sure you have already received a number of promotional emails about it. I promised myself that I won’t buy Forex robots on a whim this year, but there’s a couple of things that I really like about this launch so far..

The first thing I like is the fact that they show real live accounts on the USDBOT Homepage. This is already a good sign to me, because it shows that the creators have faith in their product (provided that the statements are not faked of course). The second thing that I really like is that you can also buy the actual trading strategy that this robot uses and manually trade it if yourself. They don’t advertise this yet, but the creator of the system (Mark Trenton) told me that this will be one of the optional addons when you buy the robot. If this is true then it’s definitely a first..that level of transparency is highly unusual when it comes to Forex robots.

I’ll send another email after I’ve purchased my copy tomorrow, but in the meantime you can get more information about this robot on the USDBOT Homepage.

Here are my trading results for last week.

1. Manual Trading

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

It’s been a tough week for manual trading, mainly because of my own poor decisions and trading mistakes. I seem to have violated every golden rule of trading last week, including over trading, letting my emotions influence my decisions and just plain bad judgment. Just because I was eager to trade I took a number of trades that I shouldn’t have taken and when those didn’t work out I took some more to try and make up for the losses. I ended up wiping out all my profits from previous weeks and my overall manual trading result is now at -10%. The good news is that I’ve learned some valuable lessons in the process and I’m eager to start fresh this week with a new plan of action. I’m still happy that the Trading in the Buff method is very accurate, so I’m not discouraged at all. It’s been a long time since I’ve traded manually and I didn’t expect things to go smooth from the start, so we’ll see how it goes from here.

2. Robot Testing in Live Accounts

I’m still waiting for my tax clearance to go through and will hopefully start my real money testing of Fap Turbo and Forex Megadroid in the 1st week of February.

3. Robot Testing in Demo Accounts

While waiting for my live accounts to be funded, I decided to restart my forward tests of Fap Turbo and Forex Megadroid, just just to see what the current performance is like.The results for last week were as follows:

Forex Megadroid (Using default settings with a RiskLevel of 0.30): Made 2 profitable trades last week for a profit of 2%.

Fap Turbo (Using Settings From Fap Turbo Expert Guide): Made a number of great trades last week, but a stop loss that was hit on USDCAD wiped out most of the profits for the week and the account ended up only 0.5% in profit.

Forex Godfather: Still no trades since I switched it back on 2 weeks ago. I’ll double check my settings, but this is not necessarily a problem, because as we have seen last year, this robot goes after large moves of up to 200 pips.

FX Broker Buster: Placed 8 trades in its first week of testing and closed the week with a loss of 1%. I’m quite impressed with the way this robot trades and I look forward to seeing what the next couple of weeks will deliver.

4. Robots That I’ve Stopped Testing

Please visit the Live Testing Page for more details on each robot that I’ve stopped testing.