Forex Newsletter – 26 April 2011

Posted by Chris | Posted in Automated Forex Trading Systems, Newsletter | Posted on 26-04-2011

The biggest news I have for today is that I found an interesting new forex robot to test. It’s callled Forex News Trader and it trades news releases in quite a unique way. There’s a number of things I like about this product, but the thing that really caught my eye is its fantastic risk/reward ratio.

It uses a Stoploss of only 5 pips and a TakeProfit of 100 pips, which means that it will make a profit even if only 1 out of every 20 trades is a winner. I also like the fact that the trading strategy is explained in detail in the installation guide, which means that you can also trade this system manually if you choose to do so. I saw another tester showing 50% profit over a few months with this EA, so I look forward to see how it performs.

Read more about Forex News Trader here.

1. Robot Performance Comments

Forex Combo System continues to perform well and it closed off last week with a nice 12% profit.The account is now 65% in profit after 106 days of testing and I think it’s safe to say that this one is definitely a keeper. I still really like Forex Morning Trade, despite the fact that it’s had a few slow weeks recently (which were really now worse than breakeven), but Kangaroo EA and Forex Growth Bot are also looking very good.

My current Top 5 Forex Robots are as follows:

1. Forex Morning Trade
2. Forex Combo System
3. Forex Gap Robot
4. Forex Megadroid
5. Kangaroo EA

2. Performance on Live Accounts

No robots 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

Forex News Trader: +0%
Wallstreet Forex Robot: +3%
Forex Combo System: +12%
Forex Morning Trade:+3%
Forex Crescendo: +3%
Leo Trader Pro: +0%
Forex Cash Protector: -11%
Forex Steam: -4%
Forex Growth Bot: +5%
Kangaroo EA: +1%
Forex Fisher Robot: -5%
Forex Gap Robot: +0%
Forex Solomon: -+5%