Forex Newsletter – 18 October 2010

Posted by Chris | Posted in Automated Forex Trading Systems, Manual Forex Trading Systems, Newsletter | Posted on 18-10-2010

Today I’m happy to announce one of the new features that I’ve been working on over the past few weeks. It’s a live performance comparison and summary of all the forex robots in my testing portfolio. This page is updated every 30 minutes and I hope that it will give you a much clearer picture of how each product is performing. Visit this new page here:

http://fxtradingreviews.com/forex-robot-performance/

The column headings may seem complicated at first, but it shouldn’t take long to figure out how I’ve organized it. Some of the more interesting values to look at are Profit Factor, Max Loss and Total Profit/Loss. Profit Factor on its own can be a very good indicator of the profitability of a trading system. If you look at these values you can easily see which robots are outperforming the others and the one that is standing out at the moment definitely appears to be the Forex Combo System. (More on this robot later)

In light of this new feature on my website I’ve decided to change the format of my weekly newsletter. I hope you you will enjoy this new format, but please let me know if there is anything that you don’t like.

1. General Comments

Forex Combo System: I’ve heard a lot of great feedback about this robot and based on the results I’m seeing in the testing so far it defnitely looks like a very professional system. The one problem with this product is the fact that they don’t offer refunds. I contacted the owners regarding this and they answered as follows: “We do not offer a refund in our website, but if the customer show us at least three months real or demo statement with only FOREX COMBO SYSTEMs trades, without any net profit, we will accept the refund issue.” It’s not perfect, but at least there is a way to get your money back if the robot doesn’t perform.

Forex Crescendo: I managed to sort out my installation problem and the EA is now trading again as it should. Unfortunately the stats on the performance page will be a little skewed due to the 2 week dormant period, but things should balance out soon enough. I had a discussion with Andrea and we agreed to schedule the private webinar for sometime around the end of the month. I will send more details once we have confirmed.

Fish Forex Robot: I received a report suggesting that the big loss experienced in September was due to volatilty caused by the release of the FOMC statement, which is is a high impact report released 8 times a year. I haven’t been able to confirm if this is accurate or not, but since then the Fish Robot has been perform very well again, so I’ll give them the benefit of the doubt and make sure that I disable it the next time the FOMC statement is released.

Forex Greenbot: I’ve received a number of emails regarding the poor performance of version 1.11 of this robot compared to its earlier versions. I sent Rita Lasker an email regarding this and her response was that this was caused by unsually high volatility over the last 2 weeks. This account is still 32% in profit and it’s only made a loss of 3% in the last 2 weeks, so I’ll give the current version more time to prove itself, but in the meantime I may set up a separate test of the older version for the sake of comparison.