Another Good Week for Trading in the Buff

Posted by Chris | Posted in Automated Forex Trading Systems, Manual Forex Trading Systems, Newsletter | Posted on 15-03-2010

I was distracted by other things last week and didn’t pay much attention to all the new launches. Nothing knew was added to my testing portfolio since the last newsletter, but one or two new robots will be added this week, so look out for an update next Monday.

Here are my trading results for last week.

1. Manual Trading

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

I only took one manual trade this week, but it was another big one. Half my position was closed with 50 pips profit and the second half with 100 pips profit, resulting in a 5.1% profit for the week. After 2 months and one week, I am now 14% in profit on my manual trading account, which is not bad considering that I made a loss in my first month.

2. Robot Testing in Live Accounts

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

Fap Turbo (Using Gallant FX and Settings From Fap Turbo Expert Guide): Hit a stoploss on USDCAD and ended up with a loss of 8.8% for the week. This wiped out most of the gains from previous weeks, but at least the account still closed with a profit of 2.5% after the first month of live trading.
Forex Megadroid (Using Alpari UK): Made only one trade for the week and ended up with a profit of 2.2%. Because of the poor start in week one, my Megadroid account is now 30% down after the first month of live trading.

3. Robot Testing in Demo Accounts

Forex Robot World Cup (LMD Multicurrency): Had another losing week of -3.1% and the overall account is now basically back at breakeven. So far this robot seems to be going nowhere.
Forex Robot World Cup (Hirider): Made another profit of 2.3% for the week, but eventhough the overall account is now 5.8% in profit, I am seeing something alarming in the open trades. There are currently 10 long trades open on EURUSD, resulting in a total drawdown of -9%. I have no idea how the Hirider strategy works, but if these trades don’t somehow recover it will result in big losses.

Forex Robot World Cup (Fusion-V): This robot is just a big mess at this stage. The overall account is down by 5% and there are no less than 14 open trades, resulting in a 17% drawdown..nothing like the massive gains we were promised. I know they’ve released a new version, but what good does that do to the people who already lost money with this robot.

Forex Godfather: Made one losing trade and a loss of 5% for the week. After one month of testing, this robot has only made 5 trades and a loss of 14%..I really don’t think it’s worth testing any further.