Forex Newsletter – 20 June 2011

Posted by Chris | Posted in Automated Forex Trading Systems, Newsletter | Posted on 20-06-2011

I added a new Forex Robot called Million Dollar Pips to the testing portfolio this week. I chose this one because it was developed by the same people that were behind Forex Growth Bot and Forex Overdrive and their products are always interesting to test. This one also uses a very tight stoploss, which is something you rarely see with forex robots.

I will be on holiday this time next week and I probably won’t be able to compile a newsletter, but I’ll try to send a quick update just to keep in touch. Next week also marks the launch of an interesting new automated news trading system that I’ve been testing, but I’ll tell you more about that in a few days.

Here is this week’s performance report.

1. Robot Performance Comments

I’ve stopped testing Forex Crescendo to make way for the Million Dollar Pips EA and unless things drastically improves over the next 2 weeks I will also remove FX Voodoo and Breakout Genius.

It was a tough week for Forex Combo on the live account. It started off with some nice profits, but eventually gave all that back with some losing trades and finally ended up on breakeven for the week. It’s quite exciting to see the EA trade on the live account, so I’m looking forward to seeing how it performs this week.

One EA that is really showing promise is Wallstreet Forex Robot. It makes small and steady gains and as far as I know it hasn’t had a losing week since I started testing it. It has now made a profit of 29% over 2 months in the demo account, so this is definitely one to consider. This EA is quite expensive, but I believe you can get $110 discount if you use the code NPWS489 during your purchase.

My revised Top 5 Forex Robots are as follows:

1. Forex Combo System
2. Forex Growth Bot
4. Kangaroo EA
3. Forex Morning Trade
5. Wallstreet Forex Robot

2. Live Account Performance

Click here to see my settings for this account.

Weekly Performance: +0% (0 pips)

Starting capital: $500
Current Balance: $573
Overall Profit: +15%
Active Days: 18

Overall profit include trades that have been closed in this week.

3. Weekly Performance on Demo Accounts

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

Forex Combo System: -4%
Forex Morning Trade: -5%
Kangaroo EA: +1%
Forex Growth Bot: +11%
Forex Goldtrader: +1%
Million Dollar Pips: +0%
FX Voodoo: +6%
Forex News Trader: +2%
Wallstreet Forex Robot: +6%
Leo Trader Pro: +1%
Forex Steam: +7%
Forex Gap Robot: +0%
Forex Breakout Genius -10%