Forex Newsletter – 21 February 2011

Posted by Chris | Posted in Automated Forex Trading Systems, Newsletter | Posted on 21-02-2011

Before I go into the robot performance report for today I’d like to invite you to join one of the 6 webinars that the guys from ElementalTrader are hosting this week. They have given away some great tools and information so far, but in these webinars they promise to reveal a lot more.

Here’s the webinar agenda:

* How to Make Money Consistently by Trading with Harmonic Patterns
* Why Most Strategies & Traders Fail and How to Avoid It – Permanently!
* The Best Harmonic Patterns and How To Find Them!
* Discover How To Move Beyond The Theory Into Practical Profit Making Trades
* Why Harmonic Pattern Trading is One of the Fastest Growing FOREX Strategies
* OPEN Q&A After the Webinar – As Long As It Takes to Answer Your Questions!

Each webinar can only take a limited number of people, so register here before it fills up:

==> http://www.elementaltrader.net/get.html?w=etw&p=ccronje

I have been spending a lot of time testing out this system and I’ll send you my detailed review and comments about it during this week.

Here is the robot performance report for last week.
1. General EA Comments

This weekend I accidentally found a very interesting looking EA that I’ve never heard of before. More about this next week.. I must say that I’m pleasantly surprised by 2 of the EA’s that I’m currently testing – Forex Solomon (with a profit of 20% in 2 weeks) and Forex Morning Trade (with a profit of 20% in just over a month). I’ve learned from experience that Rita Lasker’s EA’s need to be tested for a while to see their true colors, but it’s definitely off to a good start.

Forex Morning trade is a simple breakout strategy similar to the 1 Minute Daily system I tested some time ago, but it has some additional filters etc. It currently has a 5 star rating at Forex Peace Army, which is definitely a great achievement for this type of system. The creator of this product (Mark Fric) seems to be a very genuine guy and he supports his system with a live trade journal and a forum. I have some doubts about the long term value of such a trading method, but it’s definitely worth testing this one further.

I’ll leave my Top 5 Forex Robots unchanged for now:

1. Forex Combo System
2. Forex Crescendo
3. Forex Megadroid
4. Leo Trader Pro
5. Forex Morning Trade

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: +1%
Leo Trader Pro: -5%
Forex Breakout Genius: -4%
Forex Morning Trade:+3%
Forex Fisher Robot: +3%
Forex Combo System: -1%
Forex Crescendo: +5%
Forex Gap Robot: +2%
Forex Solomon: +9%
Forex Quattro: +1%
Probability EA: +0%