Forex Newsletter – 6 June 2010

The Fifa World Cup kicks off in South Africa this week and the atmosphere here is absolutely amazing at the moment. It’s the biggest event that this country has ever hosted. Unfortunately things are not looking as exciting in the world of Forex robots..there are lots of new robots launching every week, but I just don’t see anything that is worth testing. I’ll definitely let you know if I find something really that shows promise.

Here are my trading results for the past week:

1. Manual Trading

(Using the 1 Minute Daily System on my LIVE Account)

The 1 Minute Daily EA had a breakeven week and the overall profit is still around 5% after little more than 3 weeks of live trading. This is not a massive profit, but it’s better than 99% of the robots that I’ve tested so far and it’s also on a live account, so I’m very impressed with it so far.

2. Robot Testing in Live Accounts

Note: you can view the live account statements on the Live Testing Page.

Forex Megadroid (Using Alpari UK): Took one trade and made a profit of 2.5% for the week. This live account has now increased from the $490 to $629, which is a profit of 26% in the last 3.5 months since I activated the robot. My apologies for mistakenly saying that Megadroid has only made a profit of 5% in last week’s newsletter..it was actually in profit by 23% at the time.

Fap Turbo (Using Gallant FX and Settings From Fap Turbo Expert Guide): For the moment Fap Turbo is still disabled.

3. Robot Testing in Demo Accounts

Robovore: For some reason the demo account that I used for Robovore has been disabled and Alpari just gives an “Invalid Account” error every time I try to log in. This unfortunately means that I have lost my account history and will probably have to restart this test. I saw Robovore made some good trades last week, so it’s a pity that I can’t report on this now.

Forex Enforcer: Completed 2 winning trades and 4 losing trades for a loss of 2.9% for week. This robot has now had a number of losing weeks in a row and the overall account is already down by 33% after roughly 1.5 months of testing. This account hasn’t been in profit at all since I installed this robot, so if things don’t improve I won’t be testing this one for longer than 2 months.

Aeron EURUSD Robot: It was a busy week for me and I just didn’t find time to install the new version of the Aeron Robot. I hope to have this done by tomorrow, so hopefully there will be new results to share by next week.

Forex Harvester: Forex Harvester did not take any trades last week, mostly due to the US and UK holidays on Monday.

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.