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The biggest news I have today is that I purchased the Forex Robot World Cup. I’ve had many requests for this and I decided that there is no use in delaying the inevitable..this product is not going away and we just have to test it to see if it’s worth the $999.

As an initial test I’ve only set up 3 of the FRWC robots – LMD Multicurrency (the winner of the competition), Hirider (the runner-up) and Fusion-V (the FRWC inhouse developed robot). If none of these produce good results, then it’s kind of pointless to test the rest, because this is the core of the product. I’ve only been running these robots since Wednesday, but there are some interesting results already. See the report below for more details.

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)

I only took 1 trade this week, but it was a big one. Half my lots were closed at 60 pips profit and the other half were closed at 115 pips. I only risked 3% on this trade and because my stoploss was fairly big, this only made me a profit of 3.2%, but if I can do this every week I would be very happy. Just a quick summary of what has transpired so far – I’ve been trading this strategy on my live account now for 1 month and 3 weeks. In the first month I made some classic trading mistakes and ended up with a loss of -5.2%, but with 1 week to go in month two I am already up by 11%.6%, so overall I am just about 6% in profit.

2. Robot Testing in Live Accounts

Fap Turbo (Using Gallant FX and Settings From Fap Turbo Expert Guide): Made a 2% profit for the week and the account is now 12% in profit after 2 weeks of live trading.

Forex Megadroid (Using Alpari UK): Made a 4% profit for the week, but the account is still 32% down after 2 weeks because of the two big losing trades in the first week.

3. Robot Testing in Demo Accounts

Forex Robot World Cup (LMD Multicurrency): Made 1 winning trade an 1 losing trade for a net profit of 8.8%. This robot is off to a good start, but it’s only been trading for 2 days, so we’ll see how it goes from here.

Forex Robot World Cup (Hirider): Made a whole bunch of small winning trades for a net profit of 1.25%. The results so far seem fairly similar to what it did during the competition.

Forex Robot World Cup (Fusion-V): This robot made no less than 21 trades in its first 2 days and it ended up with a small loss of 0.18%. All the losses came from the GBPJPY currency, which is not traded by the above 2 robots, so this must be part of one of the other top 5 robots.

Forex Godfather: Made another big losing trade and ended up 9% down for the week. The overall account is now 8.5% down and I”m quickly losing faith in this robot..it’s just going nowhere at the moment.

FX Broker Buster: Another losing week for this robot. 5% Down for the week and 10% down overall since I started testing it a month ago. I’ve given this robot a month to prove itself and it failed..I see no reason for testing it further.

USDBOT: Made a gain of 8% for the week and is now 25% in profit after 3 weeks of testing. Once again I have to mention that due to its risky Martingale strategy I would not recommend this robot to most traders, but I’ll keep on testing it for those that are interested.

4. Robot That I’ve Stopped Testing

Please visit the Live Testing Page for more details on each of the robots that failed the test.