Forex Newsletter – 7 February 2011

There was a lot of hype this past week about the new Rover North System, which won the latest Surefire (Manual) Trading Challenge. I’ve personally been tied up with another project and haven’t had much chance to look at this system, so if you are one of the people that bought it, please send me some feedback? I’ve seen some good feedback from customers about this Rover North system, but I don’t know how much of it comes from real traders and how much of it is just hype.

I haven’t really seen any new forex robots worth purchasing lately, but I received an evaluation copy of Rita Lasker’s latest product called Forex Solomon. I’ve grown a bit sceptical about Rita’s products lately, but she reckons this is her best EA yet, so I’ve added it to the testing portfolio to see how it goes. Please feel free to let me know if you have any other products that you can recommend.

Lastly, I’m busy testing a very interesting manual trading system that is based solely on price action. More about this next week.

1. General EA Comments

Leo Trader Pro recovered from the drawdown it was in and ended up with a nice profit for the week. As it stands it has made a profit of 18% in the 14 days that I’ve been testing it, so it’s not off to a bad start.

Forex Combo System has made a profit of 12% in 25 days and overall I still think that this is a very good product to buy. It uses multiple trading strategies and the risk:reward ratio is much better than most of the other robots on this list.

My Top 5 Forex Robots have been revised to look as follows:

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

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: +5%
Forex Breakout Genius: +6%
Forex Morning Trade:+9%
Forex Fisher Robot: +1%
Forex Combo System: +5%
Forex Crescendo: +4%
Forex Gap Robot: +0%
Forex Solomon: +0%
Forex Quattro: +0%
Probability EA: -9%

4. Overall Performance on Demo Accounts

Kangaroo EA: +1%
Leo Trader Pro: +14%
Forex Breakout Genius: -1%
Forex Morning Trade: +6%
Forex Fisher Robot: +8%
Forex Combo System: +12%
Forex Crescendo: +10%
Forex Gap Robot: +2%
Forex Solomon: +0%
Forex Quattro: -18%
Probability EA: +7%

5. Robots That I’ve Stopped Testing

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