Shark EA Testing Started

Posted by Chris | Posted in Automated Forex Trading Systems, Newsletter | Posted on 29-08-2011

I added a forex robot called Shark EA to the testing portfolio this morning. This product has been around since before the likes of Fap Turbo and I could find reviews of it online going back as early as 2007. The developers of Shark EA have more than 80 reviews at Forex Peace Army and they have an average rating of 4 stars, which is very good for forex robots, so all in all I think this is a very good product to test.

I received a lot of feedback regarding Million Dollar Pips and there was a very clear trend – all the people who are making money with it in real accounts are using a VPS. This makes a lot of sense, because scalpers require fast execution and low latency and this is where a VPS makes a big difference. In light of this I’ve decided to join a VPS provider and do some testing of this for myself. A VPS is a good idea for any type of trading strategy, so I’m happy that this is the best way to go for my live account. I’ll investigate some affordable VPS providers and give some more feedback on this next week.

Here is this week’s forex robot performance report.

1. Robot Performance Comments

Unfortunately Forex Combo had another bad week and this resulted in some more losses on the live account. I’ll spend some time over the next few days to analyze the different strategies to see if there is anything that stands out, but I really don’t want to make any changes at the moment. I’d like to make some small changes to the money management of this account though, but I’ll give more details about that next week.

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: -10% (-237 pips)

Starting capital: $500
Current Balance: $632
Overall Profit: +26%
Active Days: 91

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: -2%
Shark EA +0%
Wallstreet Forex Robot: +0%
Million Dollar Pips: +1%
Forex Growth Bot: -4%
Kangaroo EA: +1%
Forex Goldtrader: +0%
Forex Morning Trade: +4%
FX Steady Growth: -9%
FX Secret Signals: -12%
FX Voodoo: +2%
Forex News Trader: -1%