Forex Newsletter – 2 August 2010

Posted by Chris | Posted in Automated Forex Trading Systems, Manual Forex Trading Systems, Newsletter | Posted on 02-08-2010

On the Forex robot front it was a fairly quiet week. Megadroid didn’t take any trades and the Fish Forex Robot continued showing good results. I’ve decided to stop testing Aeron Robot for now and replace it with Xtreme Pip Poacher, the robot that was talked about so much this week. I looked at some of the videos over the weekend and this really seems like an interesting product to try, especially at the current special of $77.

I ‘d also like to thank everyone who are participating in the pre-launch of the Oracle Trader program that I’ve been talking about for the past week. Even if you only take the free stuff they hand out I think you can learn a lot about news trading. As far as I know the product launches later this week, but they are first doing a series of webinars to demonstrate their system and answer questions from customers.

The webinars are being held on both Wednesday and Thursday, August 4th and 5th, and there are three timeslots each day to choose from. You can register for it here:

Oracle Trader Webinar

This what they promise to reveal in this webinar:
- How To Reverse Years of Losses and Replace it With Consistent Gains Using OracleTrader
- Why Automated Software Execution Will Triple Your Success
- Trade Management Tactics That Help You Squeeze Every Last Pip Out of Each and Every Trade
- How to Do It All In Less than 45 Minutes A Day… So You Can Live The Lifestyle You Want

Just use the link above to register for this free webinar. I think it will be quite interesting.

Lastly, 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 mixture of winners and losers last week and ended up basically back at breakeven with a small profit of only 6 pips for the week. I’ve been doing some backtesting with this system and based on the results I achieved I’m going to start testing some new settings this week. I’ll keep you posted on the results.

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 no trades last week, so no profit or loss were made.
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: Had 4 winning trades of 10 pips each last week and made a profit of 3.65%. This robot hasn’t had a losing week since I started testing it 3 weeks ago and it has made a profit of 13.8% so far. It had 1 losing trade so far, which it quickly recovered from using its “adjustment order”, but it would definitely be a good idea to wait for some more losing trades before drawing any conclusions about this robot. One thing I really like about Fish Forex Robot is that they give a lot of info about its strategy on their homepage and in the installation manual.

Aeron EURUSD Robot: As I feared, this robot took a big hit last week from a trade that has been open since 11 June. This trade made a loss of 1000 pips and reduced the account balance by 37%. The result of this is that the overall account is now down by 32%. For now I think it’s better to stop testing this robot. I think it has a lot of potential, but there seems to be some issues that they still need to sort out, so I’ll keep my copy and see what changes they implement in future releases.

Forex Harvester: Made some small gains from the Sunday night / Monday morning gaps and grew the account by just under 1%. By next week we would be testing this robot for 3 months and the overall profit is on 3.7% so far. This would have been a lot better if it wasn’t one really bad losing week, but to me the important thing is that it’s back into profit and performing consistently. I’ll test this one a little more to see how it performs over a longer period.