Forex Newsletter – 6 September 2010

It’s been 2 weeks since my last newsletter and I have some interesting things to report on.

Firstly, I am busy setting up two new robots that I have purchased over the weekend – The new robot from the Fap Turbo guys called Forex Bulletproof and the new robot from Rita Lasker called Green Forex Robot. I look forward to seeing how these two perform. I read some bad feedback about Juliya Ivanov’s NoNameBot, so I decided to not get a copy of this one for now.

Here are my trading results for the past 2 weeks:

1. Manual Trading

(Using the 1 Minute Daily System on my LIVE Account)

Things are not looking gooding for the 1 Minute Daily EA. It made a loss of 178 pips over the last 2 weeks and if you add that to previous losses it has now made an overall loss of more than 200 pips. The market has been very choppy and volatile lately and the 1 Minute Daily system clearly doesn’t perform very well under these conditions. To prevent further losses I’ve decided to stop testing this system for the moment.

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 a good streak of 30 winning trades in a row Megadroid finally made another loss in the past 2 weeks. On 24 August a trade hit the 45 pip stoploss, which immediately reduced the account balance by 22%. I have recovery mode turned on, so it’s supposed to double the lot sizes after this to make up the loss quicker, but that never happened. The overall account is still up by 27%, but it will take a while to recover this latest loss. I will write a more detailed report in 2 weeks time when the robot has been live for a full 7 months.

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

Forex Bulletproof: No results to report yet.

Green Forex Robot: No results to report yet.

Fish Forex Robot: This robot just keeps on surprising me. It made a profit of 4.68% over the past 2 weeks and the total account balance is now just under 35% in profit after less than 2 months of trading. The “Adjustment Order” sometimes gets a little scary when it goes into drawdown, but the success rate of this method has been quite amazing so far.

Forex Supersonic: Made a small profit of 1.30% over the past 2 weeks, which puts the overall profit after 3 weeks at about 0.57%. I’m not sure how you can make $36,000 per month with this type of performance, but at least it’s in profit so I’ll give it the benefit of the doubt for now.

Forex Harvester: Traded some good gaps and made a profit of 6% over the past 2 weeks. Forex Harvester has now made an overall profit of 10% in just about 4 months. Most people look for more than that when they buy a forex robot, but to be honest there aren’t many robots out there than can consistently beat this one. The important thing to note is that the above stats include the worst losing week that the robot has ever had. Since then it has actually made a profit of 30% over the last 3 months.

4. Robot That I’ve Stopped Testing

Please visit the Live Testing Page for more details on each of these: