Forex Newsletter – 12 April 2010

It’s been 2 weeks since my last newsletter, but I’m back online and ready to test some new products. A lot of new Forex robots have been released in the last month and while I can not test every single one, I’d like to add at least 1 or 2 to the testing portfolio this week. I’ll do my own investigations to find good candidates, but please let me know if there are any new robots that you would like to see tested.

In the meantime, here are my trading results for the pas 2 weeks:

1. Manual Trading

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

Things have been very quite on the manual trading side over the past 2-3 weeks, mainly because of other commitments I’ve had. I’ve only made one small profitable trade of 25 pips and the overall profit is now at 17% after 3 months. I hope to do a lot more trading in month 4.

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): I upgraded Fap Turbo to the new Version 50 and added the GBPUSD currency to the setup, but the new version has not traded at all in the last 2 weeks. This was mainly due to high spreads across all the scalper currencies. I think this was just a temporary situation due to the holidays, so I hope that things will return to normal this week. This live account is still on breakeven at the moment.

Forex Megadroid (Using Alpari UK): Megadroid also did not trade in the past 2 weeks and the trade logs show a lot of messages about spread being too high, so whatever caused high spreads for the Fap Turbo currencies obviously had the same impact here. The account is still 27% down due to the unfortunate losses in the first live week.

3. Robot Testing in Demo Accounts

Forex Robot World Cup (LMD Multicurrency): The new settings seem to be making less trades than before, but the robot is still struggling to make a profit. It made a profit of 0.5% over the past 2 weeks and the overall account is now down by 1.5% after 1.5 months of testing.

Forex Robot World Cup (Hirider): The Hirider robot has been very consistent and it hasn’t had a losing week so far. In the past 2 weeks it made a profit of 4.4% and the overall account is now just over 13% in profit after 1.5 months. The Forex Robot World Cup has also released a new advanced version of this robot, which I will test on a separate demo account soon.

Forex Robot World Cup (Fusion-V): The new version of Fusion made a loss of 27% in the past 2 weeks, putting the overall account at -34%. If anyone is experiencing different results than me, please let me know.

Robovore: My performance was different to the performance the Robovore team has in their own accounts with the same broker, so I logged a call with them and they asked me to reinstall everything. I created a new account and set up everything according to their step-by-step manual, so I hope my trades will be more similar to their from here on.

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.