Forex Newsletter – 23 August 2010

Apart from buying and installing Forex Supersonic, it’s been a fairly quiet week on my side. I have been considering quite a few new robots though and will probably add one or two new ones over the next week or so. One robot that seems very interesting is Juliya Ivanov’s NoNameBot, which was promoted last week by the Forex Megadroid people. If you bought this robot, please let me know what your experience has been so far?

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 made a loss of 101 pips in my account this week. I still really like the simplicity and overall cost of this system and I think it’s a good product for people starting out with manual and automated Forex trading, but I think in my case it’s time to move on and look for something a bit more robust and profitable. I’ve been testing the 1 Minute Daily EA for about 3 months now and it hasn’t really made any significant profits, so I’m sure my subscribers will agree.

2. Robot Testing in Live Accounts

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

Forex Megadroid (Using Alpari UK): Megadroid again had zero trades for the week. In my account it has made only 1 trade in the last month and many other traders are experiencing the same lack of trading. I can understand that this is frustrating to new users who are keen to get started with trading, but I’ve learned over time that these quiet periods happen with Megadroid and the best thing to do is just have patience.

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: Made a profit of 2.7% for the week. I’ve been testing Fish Forex Robot for just over 6 weeks now and it has so far not had a single losing week. It has had losing trades, but the “adjustment order” turned it into a profit everytime. The overall profit is now at 27.83% and I’m definitely surprised by the performance so far. I believe Rita Lasker is releasing another Forex robot soon, so I’m definitely going to test that one as soon as I can get it.

Forex Harvester: Made about 2 pips from the weekend gaps last week, so again it was basically breakeven. This robot is in profit, but it only made 1% in the last month and less than 4% over the last 3.5 months since I started testing it, so it’s been very slow. I don’t think many people will be satisfied with this type of performance, so I probably won’t test this one for much longer.

Forex Supersonic: Some users reported that their Forex Supersonic wasn’t trading, but on my side there were no such problems. It traded twice in its first week and made a small loss of 0.7%. It looks like everything is working as stated with this robot, so it would be interesting to see how will this trading system performs.

4. Robot That I’ve Stopped Testing

Please visit the Live Testing Page for more details on each of the robot that have failed the test.