Leo Trader Launch & Latest Forex Newsletter

The holiday season is upon us and this is probably my second last newsletter for 2010.

Things are normally pretty quiet on the forex robot front this time of the year, but there is one EA launching later on Thursday that definitely looks interesting. The product is called Leo Trader and it’s (supposedly) one of the first forex robots to be featured at the International Traders Expo. The marketing angle of Leo Trader is all about proving that their system works and they even provide login details for their broker account on the Leo Trader Homepage.

I’m not 100% sure who the creators of the EA are, but I have reason to believe that the guys behind Forex Megadroid are somehow involved and this is definitely a good sign. I’m not sure what the price of Leo Trader will be yet, but if it’s reasonable I will probably get a test copy when they launch on Thursday.

1. Forex Robot Comments

Forex Overdrive: This EA has made an impressive 69% profit in 44 days and out of the 47 trades it has made so far there hasn’t been 1 loser. The problem is that the stoploss is 325 pips, so when a losing trade occurs (which will eventually happen), it will erase a lot of those profits. I’ll keep on testing this one to see what happens over a longer period after some losing trades occured.

Forex Quattro: I haven’t written much about this robot yet, but it’s been quietly going about its business and so far it has made a profit of 10% in the 25 days that I’ve been testing it. So far this EA has made 7 winning trades, 1 losing trade and 7 breakeven trades, so the risk reward ratio is looking really good so far.

Forex Greenbot: Unfortunately this robot is slowly giving up all the profits it made when I first started testing it. I’m not sure what the best course of action is for Greenbot, but I’ll send an email to Rita Lasker and see if I can get some feedback from her.

Probability EA: There’s a problem with the stats for Probability EA. For some reason half of the statement has dissapeared (including the initial deposit) and this has completely messed up the stats on my Robot Performance Page. I’ll see if there’s a way to recover the missing transactions, but if not I’ll have to restart this test.

Note: Please visit the Robot Performance Page for more detailed statistics

2. Performance on Live Accounts

Forex Megadroid (Weekly): +3%
Forex Megadroid (Overall): +65%

3. Weekly Performance on Demo Accounts

Forex Fisher Robot: -2%
Forex Combo System: 0%
Probability EA: n/a
Forex Crescendo: +3%
Forex Greenbot: -1%
Fish Forex Robot: +3%
Forex Bulletproof: +2%
Forex Overdrive: +2%
Forex Signal Safe: +2%
Forex Gap Robot: +0%
Forex Quattro: +3%

4. Overall Performance on Demo Accounts

Forex Fisher Robot: +0%
Forex Combo System: +7%
Probability EA: n/a
Forex Crescendo: +19%
Forex Greenbot: +28%
Fish Forex Robot: +14%
Forex Bulletproof: +12%
Forex Overdrive: +69%
Forex Signal Safe: +6%
Forex Gap Robot: +2%
Forex Quattro: +10%

5. Robots That I’ve Stopped Testing

Please visit the Robot Performance Page for more details on robots that I’ve stopped testing.