Forex Newsletter – 16 August 2010

Posted by Chris | Posted in Automated Forex Trading Systems, Manual Forex Trading Systems, Newsletter | Posted on 16-08-2010

After looking at all the feedback received I decided to not purchase Forex Legend and only buy Forex Supersonic for now. I’ve had some complaints that the robot is not trading and that their support isn’t responding to queries, but I decided to give them the benefit of the doubt and try this robot for myself. I purchased the standard version this morning and activated it on a new demo account, so hopefully there will be something to report on by next Monday.

Another robot that I’m interested in is Forex Bulletproof, the new product from the Fap Turbo guys that is launching on 31 August. I don’t really know much about it yet, but after reading the sales pitch I just know that I’m going ignore common sense and pull out my credit card the day it launches. I tried to get a beta copy for testing, but unfortunately these guys never do that type of thing. Don’t be surprised if you soon start receiving tons of emails about this robot. I’ll see what I can find out about it and keep you posted.

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 only completed 3 trades last week and made a small profit of 6 pips. The 4th trade (which was opened on Thursday) is still open at the moment, so the results of this trade will be included in next week’s report. I haven’t decided whether to continue trading with this EA on the live account or not, but I’ll do so over the next week or so.

2. Robot Testing in Live Accounts

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

Forex Megadroid (Using Alpari UK): After more than 2 weeks of zero trading activity Megadroid finally made another trade on Thursday. Unfortunately it only made a profit of 2 pips (or 0.6%) in this trade. At the end of this week it will be exactly 6 months since I started Megadroid on this live account. The overall profit is now sitting at 58%, so despite the dormant weeks it’s still keeping up with the 10% per month average. I also upgraded to version 1.30 of Megadroid and I’m keen to see if there are any significant changes in the new version.

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 another great week and ended up with a profit of 5%. The “adjustment trade” that this robot uses seems to be very effective. I’ve been testing the Fish Robot for about 5 weeks now and overall it has made a profit of 28% so far. Very few of the robots that I test actually make it past month 1, so this is quite impressive for a robot that I didn’t really expect much from.

Forex Harvester: Took only one trade and ended up roughly at breakeven for the week. Things are moving slowly for this robot and it’s not exactly making the 15-20% per month promised on their homepage, but it seems to be a very safe robot and it’s one of the very few that are still in profit after 3 months of testing.

Forex Supersonic: I only started this robot today, so no trades to report on yet.