Forex Newsletter – 8 August 2011

Posted by Chris | Posted in Automated Forex Trading Systems, Newsletter | Posted on 08-08-2011

After a long argument and many emails I finally managed to get all my demo accounts reinstated at Alpari. It’s still not clear why all of them were deleted, but at least everything is back to normal now for most of the tests that I’m running. Unfortunately FXDD also decided to delete some demo accounts soon after this and I lost the account that Wallstreet Forex Robot was running on.

I haven’t been testing Wallstreet Forex that long, so In this case I just decided to create a new demo account and restart my test. I know it made a profit of 30% in the previous account, so I’ll keep that in mind going forward. With all the customer support issues I haven’t had time to investigate any new EA’s, but I hope to spend some time looking into new one this week.

Here is this week’s forex robot performance report.

1. Robot Performance Comments

On the EA side there isn’t much news this week. I’ve been asked why I’m not considering putting Forex Growth Bot and Million Dollar pips on the live account, because thay have both shows excellent gains in the demo account. My reason for this is as follows – I’ve done quite a bit of research on these 2 EA’s and the thing that puts me off is that with both of them people are struggling to make a profit on live accounts…everything has great results in demo, but poor results with real money.The interesting thing about this is that both these EA’s were delevoped by the same person and this person also developed Forex Overdrive, which had the exact same problem – great results in demo, poor results with real money. I don’t know why this is, but for now this is enough reason for me to stay clear of them on the live account.

My revised Top 5 Forex Robots are as follows:

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

2. Live Account Performance

Click here to see my settings for this account.

Weekly Performance: +1% (29 pips)

Starting capital: $500
Current Balance: $728
Overall Profit: +46%
Active Days: 67

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