Forex Newsletter – 18 July 2010

It’s been quite an exciting week for me. I was invited to test a new news trading system that is launching soon and I’ve been quite amazed by what I’ve seen so far. Unfortunately I’m not allowed to say anything more about it until next week Monday, so I’ll have to keep you in suspense for another week.

On the trading side things have been fairly quiet. The 1 Minute Daily system had a great week and the Fish Forex Robot that I started testing last week is also doing really well, but otherwise there isn’t a lot of good news to report.

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 great week. It completed 4 winning trades and 2 losing trades for a net profit of 187 pips. For those who don’t know, this system trades the breakout of a specific range every day. It started off as a manual system, by they now also provide a Forex robot that automatically trades according to the same rules as the manual system.

2. Robot Testing in Live Accounts

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

Forex Megadroid (Using Alpari UK): My megadroid did not take any trades this week. It has now been exactly 5 months since I started live trading Megadroid and it has made a profit of 50% so far. My target is 10% per month, so at the moment it is still spot on.

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

Fish Forex Robot: This robot is performing very well so far. It had its first losing trade this week, but it still ended up making a 5% profit for the week. The overall account is now 6% in profit after 2 weeks of testing the Fish Robot. I must say I like everything that I have seen about this robot so far.

Aeron EURUSD Robot: Made a profit of 2.9% for the week. The overall account is now 28% in profit after roughly 6 weeks of testing, but there is one trade that’s been open for more than a month which is in a 35% drawdown. If this trade closes now the overall account will be 7% in the red, so this is not a good sign. I’ll contact the developers again about this to make sure I didn’t make a mistake somewhere.

Forex Harvester: Took some pips from the Monday morning gaps and made a profit of 1.5% for the week. This robot seems to be back to the slow and steady profits that it’s known for, but it will be another week or 2 before it makes up the losses of a couple of weeks ago. The creator of this robot communicates to his customers regularly and they have weekly webinars to discuss the trading, so in terms of support this robot definitely gets a thumbs up from me.

Robovore: Basically had a breakeven week and ended up with a loss of 0.5%. I think I’ve given this robot enough chances now and I’ve seen enough to know that I will never risk my real money on it, so I don’t see the point in testing it further. Robovore is going to the “failed” list.

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.