Forex Newsletter – 22 August 2011

Posted by Chris | Posted in Automated Forex Trading Systems, Newsletter | Posted on 22-08-2011

I haven’t added any new forex robots to my testing portfolio since last week, but I’m considering a new product called FX Speed Trader, which quite a lot of people are talking about at the moment. It seems to be a very effective scalping strategy with a good riosk/reward ratio, but we’ll see how it goes in testing.

In other news, Russ Horn has just re-opened access to his Forex Master Method course, which created a lot of hype when it launched about 3 months ago. I have done some research on this course and it seems that the main strategy taught is all about divergence trading and most customers that bought it the first time around feel that the system is profitable and worth the money. If you’re into manual trading then this could be something to look into.

Another new product that I’ve been bombarded about is Matt Burton’s Auto FX Millionaire. I haven’t looked into this one at all, but if you are one of the people that purchased it, please let me know what you think about it?

Here is this week’s forex robot performance report.

1. Robot Performance Comments

The live account had one of its worst losing weeks so far and closed with a loss of -9%. All trading systems have losing weeks, so if this is the worst drawdown I will experience then I’m quite happy with that, but the next week or two will be crucial for this account.

The Million Dollar Pips EA is doing brilliantly in testing, but I’ve had feedback from more than one person saying that it’s not doing nearly as well on live accounts. I’m not sure why that is, but I’ll investigate it and see what I can find.

My current Top 5 Forex Robots are still 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

Active EA’s:

1. Forex Combo System
2. Wallstreet Forex Robot

Click here to see my settings for this account.
See more detailed performance stats through MT4i here.

Weekly Performance: -9% (215 pips)

Starting capital: $500
Current Balance: $690
Overall Profit: +38%
Active Days: 81

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: -6%
FX Steady Growth: -2%
FX Secret Signals: +6%
Forex Morning Trade: +10%
Kangaroo EA: +3%
Forex Growth Bot: +0%
Forex Goldtrader: +0%
Million Dollar Pips: +15%
FX Voodoo: -29%
Forex News Trader: -1%
Wallstreet Forex Robot: +0%
Forex Gap Robot: +0%
Forex Breakout Genius -8%