Tom’s EA Review and Robot Testing Newsletter

Posted by Chris | Posted in Automated Forex Trading Systems, Manual Forex Trading Systems, Newsletter | Posted on 31-10-2011

I have some interesting news today, so I’ll dive right into it…

1. The Launch of Tom’s EA

Tom’s EA is officially available for purchase today and you will probably receive a ton of emails about it, so I wanted to give you some of my own thoughts on it before the hype starts. First I’d like to ask – if you do decide to purchase a copy, please use my affiliate link below…I will earn some valuable commissions to help me grow my website, feed my family etc…

Click Here to Visit the Official Tom’s EA Launch via my Affiliate Link

I started testing Tom’s EA just under a month ago and as it stands my demo account has made a profit of just over 15%. This may not sound like much, but if you can do this consistently and if you put your profits back into the account you can become very wealthy very quickly through the concept of compounding. This is exactly the type of EA that I look for every time I search for new products to test, not the ones that promise to double your account every month.

If you use Tom’s EA correctly and religiously follow the guidelines they give you in terms of what risklevel to use and how many currency pairs to trade with for your account size, then this EA will be a very safe, consistent performer that handles drawdowns very well. I’ve seen the EURUSD turn against my trades pretty badly a few times in my test, but my floating trades were never more than 10% in red figures and the EA recovered very well every time.

Tom’s EA is quite expensive, but I really like the fact that it’s backed by a reputable company like Forex Traders Daily and if you’re hesitant about buying the lifetime license up front, the monthly option could be a very good alternative. I believe they also offer a full 60 day refund on it.

In terms of brokers, Tom recommended World Pro FX, but this EA works with pretty much any broker, including those in the US that don’t offer hedging. I’ve had a look at World Pro FX and so far I must say that I’m really impressed with their customer service and what they offer.

All in all I think Tom’s EA is a good investment and I’m definitely considering getting a copy myself.

Click Here to Visit the Official Tom’s EA Launch

View a more detailed review of Tom’s EA here: http://www.tomseareview.net

2. Scalping FX Robot Update

There’s still a lot of interest in Scalping FX Robot, so with the help of a friend (who offered to fund the account) I’ve decided to go ahead with a real money test. We have opened a $500 account with the broker recommended by Craig and once everything is set up we will run the 2 day test license that he has offered. Depending on the outcome of this test we will decide if it’s worth buying a full license or not. Hopefully we will have the first set of results by next week, but I’ll keep you posted.

At this point I think it’s important to mention that Scalping FX Robot is quite a high risk investment and definitely not something you should buy into if you are looking for a long term investment. This EA relies on the fact that some brokers have slower price feeds than others and this is quite a rare things these days. If you find the right brokers (which is already difficult) you could still make a lot of money with this EA in a short time, but in a year or two this EA might not work at all anymore.

If you are looking for a safe, long term investment then I highly recommend that you go for Tom’s EA instead.

3. Other New Forex Products

The following new forex products could be worth checking out:

Rapid Forex Profits
An automated trade copier service by Robert Carslake.

Forex Ultra Scalper
A new scalping robot by Rita Lasker. Due to the poor performance of her earlier stuff I haven’t tested any of Rita’s products for a while, but this one is looking quite interesting, so I may add it to the test portfolio.

One Day Swing Trades
A “500 pip per month” manual swing trading strategy by Mark Soberman, the founder of the famous Netpicks.com.

3. My Current Top 5 Forex Robots

My current Top 5 Forex Robots are still as follows:

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

4. Live Account Performance

Active EA’s: Wallstreet Forex Robot

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

Weekly Performance: -1% (-22 pips)

Starting capital: $500
Current Balance: $629
Overall Profit: +28%
Active Days: 146

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

5. Weekly Performance on Demo Accounts

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

I’m unfortunately having some probems with the MDP statement not showing all trades, so the weekly and overall stats are not correct.

Forex Combo System: +3%
Shark EA: +0%
Paraswing EA: +11%
Wallstreet Forex Robot: +1%
Million Dollar Pips: ???
Forex Growth Bot: +0%
Kangaroo EA: -15%
Forex Goldtrader: +0%
Forex Morning Trade: +0%
FX Steady Growth: +0%
Forex News Trader: -5%