Forex Newsletter – 3 May 2010

In addition to the robots I purchased last week, I also decide to start testing a little known product called TSUBOT from Tsunami Trading. TSUBOT is an expensive, professional grade Forex robot that I have received very good reviews about. They offer a free trial, so I decided to install their product and see if it’s really worth the money. You can register for their free trial here.

Here are my trading results for the past week:

1. Manual Trading

I’m still investigating some other products, but it looks like the 1 Minute Daily strategy will be a good one to test. I’ll get familiar with the system this week and start trading with it by next Monday. With this system you place 2 trades every day at a specific time. More about this next week.

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): Placed 8 trades for the week and made a small profit, but basically ended up on breakeven after comissions were taken off. I started trading Fap Turbo 2.5 months ago with $500 and the balance of the account is now exactly $502, so it’s been very unimpressive so far. Unfortunately there is no real alternative at the moment, so I’ll keep on running Fap Turbo in this account for now.

Forex Megadroid (Using Alpari UK): Made 2 great trades and ended up with a profit of 10% for the week. For those who weren’t round, here is a quick summary of the last 2.5 months of live trading with Megadroid. I went live with Megadroid on 18 February with a starting capital of $490. As luck would have it, Megadroid had it’s first big losing streak on that exact day and was down to $318 almost immediately. It has slowly recovered since then and the account is now back to $400. Hopefully it won’t take long before it is back to breakeven.

3. Robot Testing in Demo Accounts

Forex Robot World Cup (Hirider): Made a profit of 2% for the week, but the overall account is still down by 19% and there are 10 open trades in a drawdown of -5.6%, so things are still not looking good for this one. My refund period for FRWC has expired, so I guess it’s worth testing this one a bit longer.

Robovore: Made a profit of 1.3% for the week, which means that the account is now finally in profit after 3 weeks of testing. I still can’t draw any conclusions on this one, so I will test it for another 2 weeks and then decide if I should refund or keep on testing it.

Forex Enforcer: Closed 2 trades and made a loss of 4.29% in its first week of testing.

Aeron EURUSD Robot: The Aeron robot is off to a good start. It closed 7 winning trades and made a profit of 3.6% in its first week. I don’t know mush about the strategy behind this robot yet, but I know that it uses hedging, so it will only work on brokers that allows this.

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.