Forex Newsletter – 31 January 2011

Before I get into the robot performance I just want to make some comments about the new Rover North trading system that everyone is talking about at the moment. This system was the winner of the latest Surefire Trading Challenge, which they are now selling seperately from their usual monthly membership.

I contacted the guy behind the Surefire Challenge (Mark Mcrae) and managed to get a trial copy of the system last week, so I spent the weekend reading through the e-book, watching the live trade examples etc. The first thing I think I should mention is that this is no secret system that you’ve never seen before – it’s a basic trend following system that uses moving averages combined with some price action signals to identify the trend and specific entry and exit points on the retracements. It’s a very straightforward, step-by-step system, so all in all I think it’s a good strategy to try out if you are into manual trading. The guy who developed it certainly had great results with it in the competition.

Rover North only launches tomorrow, but you can already check out beta tester results and various other things on their homepage.

==> Click Here to Visit the Rover North System

1. General Comments

It’s been a quiet week for the forex robots and apart from Forex Fisher and Breakout Genius very few of them made any significant profits of losses. My Leo Trader Pro demo account is in a huge drawdown at the moment, but it also crashed a few times so to be honest I’m not entirely sure if that trade should still be open or not. If you are an owner of Leo Trader, please let me know if you are seeing the same on your side?

Even so, my Top 5 Forex Robots will have to remain unchanged for the moment:

1. Forex Combo System
2. Forex Crescendo
3. Probability EA
4. Forex Megadroid
5. Leo Trader Pro

2. Performance on Live Accounts

No robot are running on live accounts at the moment.

3. Weekly Performance on Demo Accounts

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

Kangaroo EA: +0%
Leo Trader Pro: +0%
Forex Breakout Genius: -6%
Forex Morning Trade:-1%
Forex Fisher Robot: +3%
Forex Combo System: +0%
Forex Crescendo: +1%
Forex Signal Safe: +0%
Forex Gap Robot: +2%
Forex Quattro: +1%
Probability EA: +0%

4. Overall Performance on Demo Accounts

Kangaroo EA: +1%
Leo Trader Pro: +9%
Forex Breakout Genius: -6%
Forex Morning Trade: -3%
Forex Fisher Robot: +7%
Forex Combo System: +8%
Forex Crescendo: +6%
Forex Signal Safe: -1%
Forex Gap Robot: +2%
Forex Quattro: -14%
Probability EA: +2%

5. Robots That I’ve Stopped Testing

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