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The big thing happening this week is the launch of the Forex Robot World Cup tomorrow at 9am EST. There is no doubt that this launch will make the organizers and their affiliates an obscene amount of money, but whether it will be the product that customers hope it to be still remains to be seen. Personally I’m a little sceptical and don’t feel comfortable with the $999 price tag, but I’ll make up my mind when they launch tomorrow.

A number of people have asked if I’m going to offer a bonus to customers who buy the Forex Robot World Cup via my affiliate link. Originally I did not intend to do anything special for this launch, but I won’t say no to some extra commissions, so I’ve decided to put together the following offer. If you buy the Forex Robot World Cup via the link below, I will use part of my commission and buy you a copy of Forex Godfather OR the new GBPBot that launches next week (it’s your choice). To protect myself, I will give you this bonus only after your FRWC refund period has expired. Use this link to qualify for this bonus: Forex Robot World Cup Special Offer. Just forward me a copy of your receipt and I will contact you with further details.

Apart from all the excitement around the FRWC, there are also many rumors going around about USDBOT being a scam. According to reliable sources, the original USDBOT was a ripoff of some free expert advisor and when they were confronted about it they quickly changed to a different system to avoid copyright issues. This latest version USDBOT supposedly uses a Martingale trading strategy (which should usually be avoided at all costs). I can’t confirm if all of this is true or not, but I have noticed signs of Martingale in the trades this past week, so it probably is. Should you get a refund? It’s up to you, but I guess a refund would be the safest option considering the risks of Martingale trading. Despite all this it made a 7% profit this week, so I decided to continue testing it for now and make up my own mind about this product, just in case things are not as bad as it seems. There’s still about 6 weeks to go before my guarantee expires, so I might as well use it.

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)

Last week was the best manual trading week I’ve ever had. I made 4 winning trades for a total of about 120pips and a profit of 8% for the week. I’m refining my Trading in the Buff strategy as I go along, but it seems that the method I’m currently using to identify the best setups is working very well. Within the next few weeks I hope to write a “Forex Trading in the Buff Advanced Guide” that will go more in depth into the way that I trade this strategy. I’m doing so well with this method that I decided to stop testing the daily pin bars and focus more in depth on this for a while.

2. Robot Testing in Live Accounts

I finally managed to get the tax clearance and wire transferred the money to fund my new live accounts on Thursday last week. Of all goes well I will start Fap Turbo and Forex Megadroid on these live accounts by tomorrow. I’m quite excited to do a head-to-head test of these two products with real money and hope to have some results to report by next week.

3. Robot Testing in Demo Accounts

Forex Megadroid (With Aggresive=False and RiskLevel=0.30): Made only one trade last week for a profit of 2.36%. Megadroid hasn’t had a losing trade so far this year and has made a profit of 6.4% since I restarted my demo tests 4 weeks ago. This demo test will be replaced this week by the real money test mentioned above.

Fap Turbo (Using Settings From Fap Turbo Expert Guide): Made a number of winning trades, but a stoploss on USDCAD erased most of the profits and the account ended up on breakeven for the week. This demo test will be replaced this week by the real money test mentioned above.

Forex Godfather: Closed no trades this week, but there is an open trade that is currently 100 pips in profit, so hopefully there will more news on by next week. So far it has only made the one losing trade in 2010 and the account is still at -9.4% at the moment (pending the outcome of the above trade). I really like the longer term nature of this robot, but unfortunately it also takes a bit longer to get results.

FX Broker Buster: The only thing this robot is busting at the moment is the demo account it’s running on. With another losing week of -6% and an overall loss of -10% I’m very close to writing this one off, but I’ll give it another week.

USDBOT: Apart from all the rumors, USDBOT actually had quite a good week and made a profit of 8%.

4. Robot That I’ve Stopped Testing

Please visit the Live Testing Page for more details on each of the robots I have stopped testing.