Performance Review: June 21-27

The EUR/USD pair continued to chop around this week, which was great for the MegaDroid, but provided limited opportunities for EURO-BLASTER v2. However, the nice surge to the upside on the EUR allowed EURO-BLASTER to close out (at a profit) the trades it was carrying at a loss from the previous week. I decided to add the EURJPY pair to the M5G Cyborg this week, however, EURJPY and USDJPY basically triggered the same trades, so there is just too much correlation there to trade both of these charts in the future. I haven’t decided which one to drop yet….

You can follow all of these demo accounts via my MT4Stats pages:

http://www.fxrobotman.com/live-statements/

MegaDroid Losses

The MegaDroid had some negative trades trigger on Thursday evening, giving us the second drawdown period for MegaDroid since around this same time last month. Despite the losing trades at the end of the week MegaDroid was “on steriods” earlier in the week – so my demo account closed up 12.5%.

It is important to keep things in perspective with MegaDroid. I know some of you were frustrated that MegaDroid went short in what seemed like an obvious up-trend, however that is not how the system trades. It is basically a channel reversal system that trades best during flat and choppy markets, especially during the quiet pre-asian session. Part of the reason demo trading a system is so important is so that you can become emotionally comfortable and disciplined with how a particular system trades. Looking at my MegaDroid charts separately they only lost 4-8% on those losing trades, and I fully expect respective drawdowns of 10-20% based on the level of risk. The losses were well within my expectations, and until they go out of that range, I’m not too uncomfortable. Losses are part of the game, even for a system that wins 90% of the time.

Real Money Accounts

I will be moving into a “Real Money” testing phase for MegaDroid here in the next week or so where I will be taking my current MegaDroid setup and putting it on some small live money accounts. The goal is test my setup on two different live money accounts with two different brokers to see how they trade and to see if there are any issues with spreads, trade context errors, liquidity etc. I am impressed with how my MegaDroid setup trades on the demo account, but it is a whole different ball game when trading with live money, especially on the Mt4 platform.

I will try to publish the live money results as well, and will let you know when I am ready to do that.

Have a great weekend!

-Ben aka FX Robot Man

Performance Review: June 14-20

From now on I will be providing weekly performance reviews of the systems that I am either testing or trading live in my real money portfolio. I am also investigating various screen casting software that I might start using to create some video reviews and video tutorials for you.

Currently Testing 6 Auto Trading Systems

By far the best performing system was MegaDroid this past week with an 11.1% return. MegaDroid is trading with my advanced tactics risking 20% on the main chart, and <=10% on the other 3-6 charts . Next in-line was my own “Confetti Grid” martingale system that I programmed myself which earned 4.5% (designed to trade with 100k accounts and trade around 1,000 lots a month). Last but not least was M5G Cyborg with a 3.7% return (although I need to trade more pairs with this).

All of the above systems are performing right in line with my monthly goal of a 10% return, and an average annual return of 60-120%.

The other 3 systems were all losers this week. FAP Turbo lost nearly 15%, EUR-BLASTER v2 is carrying a floating loss of 10% (which is normal for this system), and Forex Derivative lost a whopping 27% of the account in one week.

I am convinced at this point that Forex Derivative is a scam, or at the very least a damn dud of a system that might just be placing random trades. With a majority of the sales page dedicated to the sophisticated position size algorithm to minimize risk, something must be wrong. It’s either a scam or a failure. Any system that can blow 27% of an account with the default settings in under a week is simply not for me, and I have asked for my money back.

Summary

Only 7 Copies Left

Readers

I’ll keep this short. There are only 7 copies of the Forex Income Engine 2.0 left, and therefore only 7 more chances for you to get a FREE COPY of M5G Cyborg, a $299 system, paid for by your truly. If you a tired of relying solely on black-box trading robots and want to learn some manual trading methods to add to your arsenal, then this is a risk free way to do it…they always honor the 90 day money back.

It seems a private group of beta testers made public their results on Bill’s new trading method with a bunch of videos showing some of their trade setups etc.

Now, the last time I checked, this video was still online, so if you want to see what happened, check it out HERE:

http://www.customforextrading.com/y/?i=1002680&u=2&l=f71

What was cool to hear was the inside information the leader of the group got from Bill in a private discussion on Friday.

If the videos are still live, get them here:

http://www.customforextrading.com/y/?i=1002680&u=2&l=f71

Good Trading,
-Ben aka FX Robot Man

Webinar Reminder: Today at 4pm EST

Dear FX Robot Man Readers,

This is a quick reminder about the “emergency” webinar being held TODAY, Thursday, June 18th at 4pm Eastern by Bill Poulos, developer of the Forex Income Engine 2.0 home study course that has nearly sold out in just the past few days.

If you want to know more about the Forex Income Course 2.0, then you should consider attending the webinar. In addition to the free M5G Cyborg license that I will be offering you, they are expected to announce even more bonuses today to sweeten the deal.

Worst case, you buy the course, learn what you can, and then send it back for a full refund within 90 days if don’t think it is worth it. Now, you won’t get a free M5G Cyborg license if you send it back, but trust me, it is not like my feelings are going to be hurt if this is what you decide to do.

If you’ve wondered whether this course can help your Forex trading, you need to register for this webinar immediately.

Seats are limited, and there are only a few hundred left.

(Plus, Bill has a few surprises you’ve NEVER seen before that will be revealed on the webinar that you will NOT want to miss.)

Register HERE:

http://www.customfxtrading.com/y/?i=1002680&u=2&l=f67

Bill’s taking some critical content straight out of his Forex Income Engine 2.0 course and revealing it live on the webinar:

• How to create an “infinite” risk/reward ratio when you trade Forex, regardless of what pair or timeframe you trade…
• Why most traders actually LOSE money when they try to capture a market’s entire move, and how you can turn this into your advantage when you know the exact part of a market move you should be going after…
• …and a TON more.

Forex Income Engine 2.0 Review

(Important: In order to qualify for my bonus offer below, you must use my affiliate links. It is important that you first delete the cookies from your browser history by hitting “Ctrl+Shift+Del“)

Although I personally prefer trading the forex market with auto trading systems such as Forex MegaDroid and M5G Cyborg, anytime there is a major forex trading course launch I inevitably get a lot of questions asking for my opinion.

The latest course being promoted is the Forex Income Engine 2.0 course from Bill Poulos. Mr. Poulos has been selling trading systems for many many years, and I can personally attest to the high quality of his course materials, support, and trading systems. I guess it has been about 2 years now, but I actually did purchase his “Forex Profit Accelerator” course a while back, and one of the first EAs I ever programmed was largely based on the methods I learned in that course.

The courses themselves are extremely high quality! The booklets, cheat sheets, DVDs, customer support websites, system updates etc. They also offer a 90 day unconditional money back gurantee, and they have a good reputation for processing these refunds.

This latest course actually teaches 3 different trading methods that can be applied to any currency pair and any time frame – so it is meant to be a highly flexible trading system that can accommodate a variety of trading styles. Whether you prefer to scalp trade or to swing trade, this course is intended to compliment any trading style.

The only negative thing I ever heard about the first version of the Forex Income Engine course was that the original system had about 10 rules for identifying a setup bar, and some people said it took them quite a bit of practice before they could quickly identify the setup conditions.

Because I personally have not been hands on with Forex Income Engine 2.0, I think it is best to link you to a very well written and comprehensive review of this product for those you that want more information:

http://theforexarticles.com/2009/06/13/forex-income-engine-20-review/

Bonus Offer: Free M5G Cyborg License

If you have been contemplating purchasing the Forex Income Engine 2.0 course, I have actually decided to offer an amazing free bonus to any of my readers who purchase the course through FX Robot Man. So here is the deal, for those of you that choose to purchase Forex Income Engine 2.0 and do not return the product within 90 days for a refund, I will throw in a FREE LICENSE for the M5G Cyborg EA, a $299 value, and I pay for this license out of my own pocket!

The M5G Cyborg EA is considered by many to be one the best EAs out on the market, but because it does not come with a money back guarantee and costs $299, many people overlook it. Well, if you purchase Forex Income Engine 2.0 from me, I will by you a copy of this system myself. You can learn more about M5G Cyborg EA here:

http://www.fxrobotman.com/recommends/m5gcyborg

To go directly to the Forex Income Engine 2.0 sales website (there are only about 200 copies left) you can click here:

http://www.fxrobotman.com/recommends/fxincomeengine

Again, I usually try to focus on auto trading systems, but if you were planning on purchasing the Forex Income Engine 2.0 course anyway, you might as well get a free copy of M5G Cyborg while you are at it. Please let me know if you have any questions or comments.

As always, good luck with your trading!

-Ben aka FX Robot Man

Forex Derivative, EURO-Blaster and Twitter

Dear FX Robot Man Readers!

I know it has been a long time since my last post, but my summer has been intensely busy since University let out in May. I have been up north in the State to visit Yellowstone National Park with my family, writing my dissertation and preparing for a conference on CO2 Enhanced Oil Recovery coming up here in 2 weeks.

So what does that have to do with Forex? Absolutely nothing! I really haven’t had as much time as I would like to devote to forex, but I have been slowly investigating some new systems to begin testing. I am not ready to give any more buy recommendations just yet, but I do have some new demo accounts for you to follow if you would like.

(note: all of my live demo accounts can now be followed on the “live statements” page)

Forex Derivative

A new EA was just released called Forex Derivative 2.0 written by Zack Kolundzic. The EA looks like it has used a former of monte carlo optimization built in Matlab to create the position sizing algorithm (sidenote: I am using Matlab for my dissertation and it is awesome).

http://www.forexrobotman.com/recommends/fxderiv

The strategy itself trades the EURUSD, GBPUSD, AUDUSD, and USDCAD. It appears to be some kind of major swing trading strategy that uses a grid to enter up to 3 positions. My preliminary back testing shows that the system account equity can go into flat or draw down periods last from 10-20 trades. I also have watch the same trades take the account up by 6% and then turn around and close down at -6% . The newest update is supposed to help deal with that issue.

Although I have purchased it for myself, I want to watch how it trades for a couple of weeks before I write up my preliminary review and/or recommendation.

You can follow my Forex Derivative 2.0 Demo Account here:

EURO-BLASTER v2

The EURO-BLASTER trades the EURUSD only on the M5 chart, and uses about every indicator imaginable to determine the trade direction. Once the trade direction is determined, it enters 1 or more trades looking for 25 pips of profit with a massive 350 pip stop loss.

http://www.fxrobotman.com/recommends/euroblaster

The number of indicators being used makes back testing and optimizing the system incredibly slow and daunting. My preliminary tests do show however that the system has the potential to make some serious cash – especially during the last 18 months. That being said, when those stop losses get hit, your account can really get beat up. My thinking is that you would want to try to quickly double your account, and then remove those profits right away. That way, no matter what happens you are trading with “free” money.

This system is a NO REFUND system. Once you buy the system it is yours to keep whether you like it or not. This actually doesn’t bother me. There are so many EA hackers out there stealing systems that I can completely understand while some developers are going the no-refund route.

You can follow my EURO-BLASTER v2 Demo Account here:

Follow Me on Twitter

I have decided to start up a Twitter account for FxRobotMan. You can view my Twitter feed updates in the right-hand sidebar of my website, or you can “Follow”  me on Twitter by visiting:

http://www.twitter.com/fxrobotman

Writing up these longer blog posts and articles takes quite a bit of time, however, I can easily add short little updates on my Forex work  and “first look” behind the scenes notes on which systems I am starting to investigate. I will try to “Twit” between 1-5 times per day, so if you want more frequent updates on what I am up to you can follow me there.

That is all for now. I really need to get some EA programming work done for Angus (don’t worry Angus, I haven’t forgotten about the changes we discussed for your EA I am working on).

Best of luck with your trading,
-Ben aka FX Robot Man