Forex Robots

Forex Accumulator Forex Robot continues its winning streak. Four more trades today, with no losses. Remember, Forex Accumulator won’t be released until August 5th, 2009. We managed to get an advanced copy from the Forex Accumulator developers in order to test it ourselves. So far, so good.

IvyBot Forex Robot has started off well. It placed a winning trade for $178.87 profit. Unfortunately, it closed out the trade at a smaller profit than it could have had. At one point, this trade was up over $400, and after the trade closed out, the pair shot up another 65 pips, which would have been an additional $650. But any profit is good, right? We’ll see how it goes over the next 3 or 4 weeks.

FAP Turbo Evolution Forex Robot has placed several trades over the past few days. It is currently profitable, but I haven’t been seeing the kind of returns the developers and beta testers claim. Is FAP Turbo Evolution another Forex robot scam?

Forex Monster Forex Robot just took a $2,400 LOSS. Based on an account balance of about $8k, that means it was about 30%! This is absolutely uncalled for. So, here are the stats:

Lerosa Pro FX Forex Robot took a loss yesterday, which is unfortunate. But even so, it is still up over 16% for the month. I’m going to continue to test the Lerosa Pro FX Forex robot, but for now, I consider this robot confirmed as profitable.

We spent a month fully testing Forex Transformer Forex Robot. This is our final Forex Transformer review. Will it be Confirmed, Plausible, or Busted?

Forex Transformer Forex Robot had 3 more trades, 2 winners and 1 loser. But even with a 68% win ratio, this Forex robot doesn’t live up to the hype.

IvyBot is a new Forex Robot just released to the public. We are going to put this Forex robot to the test. Will it be Confirmed, Plausible, or BUSTED?

Forex Accumulator Forex Robot has started off very well. It placed 5 trades today, all of them profitable. It seem to have fairly conservative settings with a 10 pip take profit and 30 pip stop loss. On the other hand, because of the close stop loss, if it doesn’t get the profit right away, it risks losing out at a 3:1 ratio. It will be interesting to see if it continues to take these small profits, and if any losses will overcome them.

Forex Monster Forex Robot has failed miserably so far. However, they just sent me a new version of the robot. I wonder how many people were having complaints that Forex Monster wasn’t working? Well, I installed the new version and started it running. I was thinking about restarting the demo account as well, but I don’t want to lose all the original data. I want to see if the Forex Monster Forex robot can become profitable from this point forward.

Lerosa Pro FX Forex Robot was carrying a trade from yesterday. Unfortunately, the EUR/USD had a wild ride and screamed up, against the trade. But the Lerosa Pro FX robot minimized the effect of the rapidly moving market by closing out the trade for a minimal loss. Even when the market reacts erratically, this robot seems to have good money management rules.

Forex Transformer Forex Robot had 1 winning trade for a profit of $177.00. This is definitely not a stellar Forex robot. It doesn’t even come close to the developers claims.

Forex Humanoid Forex Robot just blew up. I left the robot on the default settings, and it just lost almost 75% of the account in 1 trade! As I predicted a few days ago, the open trade Forex Humanoid had running closed out with a $7,500 loss.

Forex Accumulator will be released Wednesday, August 5th, 2009 at 12pm ET. We are going to put this Forex robot to the test. We were able to get an advanced copy of Forex Accumulator by its developer Paul Liburd.

Forex Humanoid Forex Robot is a very dangerous robot at default settings. However, it has a current profit of over $1200 in 2 days of testing. But it is also currently carrying a loss of $900.

Forex Monster Forex Robot is still carrying that open trade from July 20th. Amazingly, it has turned into a floating profit of $131.94 so far.

Forex Transformer Forex Robot had 3 more trades. 2 winning trades and one losing trade. Unfortunately, like many robots, the losing trade is wiping out all of the gains from the winners. Fortunately, only one more week to go and I can stop testing this forex robot. I think this will end up being one of those robots that, at best, make a little bit of profit, if it is lucky.

Lerosa Pro FX Forex Robot started placing trades again. One closed out for a profit of over $200, the other is floating with a profit of $120 currently. I really like the Lerosa Pro FX Robot. I currently have it set up on a demo account with Alpari UK, but I might start using it on my live real money trading account.

Forex Monster Forex Robot is still carrying that open trade from yesterday. Worse yet, the trade has gone even more negative and is carrying a floating loss of -$869.52 so far.

Forex Transformer Forex Robot didn’t close any trades today, but there is one open trade with a floating loss of -$195.60 currently.

Lerosa Pro FX Forex Robot didn’t place any trades. Turns out there was a problem with many of the brokers which caused it to stop working. I sent an email to support, and got a reply (and an updated program) in less than a few hours

Our first impression of Forex Humanoid Forex robot is MONEY GRABBING SCAM! STAY AWAY! Want to find out why? Keep reading…

Forex Monster Forex Robot hasn’t closed any trades today, but it does have an open trade. Unfortunately, the trade is carrying a floating loss of -$181.56 so far.

Forex Transformer Forex Robot shows us very clearly a major problem with Forex Robots today. It closed out 2 trades, for an overall loss of over $300. What is one of the major problems with Forex robots? Poor risk/reward ratios.

Lerosa Pro FX Forex Robot Summary Results (18 Days):

• Profit Trades: 8 (57.14%)
• Loss Trades: 6 (42.86%)
• Total Net Profit: +$2,050.28 (+20.5%)

So far so good! I’ll admit that I am impressed, BUT, there’s a long way to go before we confirm this Forex Robot as profitable.

Forex Humanoid is one of the newest Forex Robots or Automated Trading Systems on the market. Forex Humanoid will be released tomorrow, July 21, 2009.

Forex Monster Forex Robot closed that open trade for a profit of $701.84! But don’t rejoice yet, it has a long way to go to make up for its first two losses.

Forex Transformer Forex Robot closed out 1 trade today bringing the balance back up into the profitable range. Forex Transformer seems to have consistency problems. But we’ll see how it goes over the next couple of weeks.

Lerosa Pro FX Forex Robot didn’t place any trades. Here are the current results of our Lerosa Pro FX Forex robot test review:

We spent more than a month fully testing Forex GridBot Forex Robot. This is our final Forex GridBot review. Will it be Confirmed, Plausible, or Busted?

Forex Monster Forex Robot opened a trade today, which is carrying a floating loss of -$360.58. Ugh. Need I say more?

Forex Transformer Forex Robot closed out 3 trades today totaling a loss of over $147. Here are the details:

Lerosa Pro FX Forex Robot placed another 2 trades today, and both were profitable. Lerosa Pro FX really seems to be what the developers say it is. It doesn’t win all of its trades, but to be up over 20% after just two weeks of trading is very impressive. I’ve been watching the way this robot trades, and it uses some of the same money management and risk assessment strategies that I use in my own trading. I just hope it will stay this consistent over time.

Forex GridBot placed 6 trades the past day, and wound up losing another $178 or so. Still no word from Forex GridBot support. I’ve contacted them a few times trying to find out if they had any suggestions as to why their robot is performing so horribly.

Forex Monster Forex Robot closed out yesterday’s open trade for a whopping $2,449.20 loss! What kind of robot trades with risk set at 25% of the account value?

Forex Transformer Forex Robot closed out 3 trades today. Unfortunately one of them got stopped out for a $500 loss, which brought the Forex Transformer down to just a $7 profit overall for the past two weeks. Hopefully it will turn itself around and start placing more profitable trades again.

Lerosa Pro FX Forex Robot placed 2 trades today, and unfortunately both were at a small loss. However, even considering this robot only has a 50% win ratio, it is still up 12% in just two weeks of trading.

Forex GridBot placed 7 more trades the past day. 4 wins and 3 losses. Fortunately, the losses weren’t as bad as they have been. Unfortunately, the wins still weren’t enough to overcome the losses.

Forex Monster Forex Robot hasn’t made a profitable trade yet. As a matter of fact, it currently has a trade open with a floating loss of almost -$1,600.00! If Forex Monster allows this to drop all the way to its stop loss, it will lose almost $2,400.00. That is a loss of 24% of the original account balance in a single trade! Even taking high risk shouldn’t be more than 10% per trade. I think it is time to contact Forex Monster support and see what they have to say.

Forex Transformer Forex Robot testing day 13 shows that Forex Transformer has opened up two more trades. One of them is currently floating a profit, the other is showing a loss. Overall, it has a slight floating loss of around $8 right now.

Lerosa Pro FX Forex Robot didn’t place any trades today, however the open trade from Friday closed out with a small loss. But compared to the gains, the small loss is negligible. So far, the losses have been reasonable, and the wins are far outweighing them.

No trades today. No replies to either of my Forex GridBot support emails, except them asking for more information. I gave them the information they asked for, in the original email and the reply, and still haven’t heard back from them. Sometimes Forex Robot developers stretch out the email support in order to get you to pass by the refund return date.

Everybody knows I’m not a big fan of FAP Turbo, or the new upcoming release of FAP Turbo Evolution, which used to be FAP Turbo Swiss. However, you can get a chance to get FAP Turbo Evolution FREE tonight.

We spent more than a month fully testing Forex MegaDroid Forex Robot. This is our final Forex MagaDroid review. Will it be Confirmed, Plausible, or Busted?

Forex Monster Forex Robot testing day 2 was not good. That floating loss of $17 yesterday turned into a closed trade with a loss of $372.24. No other trades were placed by the Forex Monster Forex Robot.

Forex Transformer Forex Robot testing day 10 was disappointing. It placed one trade with a loss of almost $500. Granted, the robot is still profitable overall, and it is only into it’s 10th day of testing.

Lerosa Pro FX Forex Robot placed another winning trade today! Also, there is an open trade with a floating profit of $80.29. Remember, this robot is $600 and it has a no refund policy, but even though it has only been 10 days, I’m beginning to think that this may be a profitable robot. So far, the losses have been reasonable, and the wins are far outweighing them. If this Forex robot continues this way, I may put it on my real money account!

No trades today. I did send an email to Forex GridBot support. Actually, this is the second time I’ve contacted Forex GridBot support.
The first time I emailed was on 7/6/09, I got an almost immediate response, and replied, then never heard back from them:

Forex Monster Forex Robot testing day 1 was uneventful. It opened 1 trade, which is currently carrying a floating loss of about $17.00. But it is only the first day. We have a long way to go.

Forex Transformer Forex Robot testing day 9 was surprising. It placed two trades, which profited by more than $600. The floating loss from yesterday of about $200 turned into a closed trade profit of about $200. I guess we will have to see what happens over the next few weeks. If it keeps this up, maybe it will be a successful robot.

Lerosa Pro FX Forex Robot placed two awesome trades today! Both of them closed out with a profit. Almost an 11% gain today alone! I must say, I’m pretty impressed so far. The only thing I really hate about the Lerosa Pro FX Forex Robot is the fact that is has a no money back no return policy. But the developers are great. The support is fantastic and fast. I emailed them after the first week, where the results of the Lerosa Pro FX Forex robot were marginal.

Forex GridBot blew up again. It placed another 6 trades today, and 4 out of 6 of them lost, totaling more than $500! I have verified all the settings, and they are set to the developers recommended settings. I sent an email to Forex GridBot support today. If I receive an answer, I will let you know what they say as soon as I receive it.

No trades for Forex MegaDroid today. Again. I think I’m done testing this Forex robot. I’ll write up a full review and post it soon. However, here are the stats for today:

Purchasing Forex Monster Forex Robot Review
The actual purchase was fast and easy. But before I could download the Forex Monster Forex robot, they required my name and email address. I get annoyed when Forex robots required you to enter personal information before you can download what you already purchased. However, it looks like you can [...]

We’ve done some preliminary research on Forex Monster.

This Forex robot was designed to take advantage of volatile markets. I’m not sure how that is different than most Forex robots, since Forex IS a volatile market.

We visited the Forex Monster Forex robot website and found some amazing information. Almost too good to be true. And we think it is. At the very least, we can break down some of Forex Monster’s claims so they aren’t quite so spectacular.

Forex Transformer Forex Robot testing day 8 was a little better. It placed two trades, one of which profited by over $300, the other at a floating loss of about $200. However, we don’t count the open positions because anything can happen. We only care about how the trades close out.

Lerosa Pro FX Forex Robot placed no trades today. Still at a modest profit for the first week of testing. Lerosa Pro FX Forex Robot is up 3.4% after the 8th day of trading.

Forex GridBot blew up again. It placed 6 trades today, and every single one of them lost, totaling more than $1400! The odd part is that it kept placing buy trades during a period of a rapid downtrend. I don’t know what this robot is programmed to look for when it trades, but it sure hasn’t worked out for us.

No trades for Forex MegaDroid today. This robot better make some more trades soon, if it intends on making up that big loss it took on the last trade.

That’s right, FAP Turbo Swiss Edition doesn’t exist anymore. I just got an email from Steve, from FAP Turbo and FAP Turbo Swiss Edition.They have renamed it to FAP Turbo Evolution, apparently due to some copyright infringement issues. I’m not sure how using the word Swiss is a copyright infringement, but nevertheless…

They have also changed the FAP Turbo Swiss Edition website and now it is FAP Turbo Evolution.

Notice here, with a 50% win ratio (which is not even close to the hype that Forex Transformer claims), it is operating at a loss. This means the risk is greater than the reward. Of course, it is only day 7 of the test, so there is plenty of time for Forex Transformer to raise it’s performance.

Lerosa Pro FX Forex Robot had a pretty choppy day today. The two floating trades from yesterday wound up closing out for a combined loss of more than $300.

We originally left the settings at default. One of our readers, Josh, informed us that it is possible default settings won’t work well with Forex GridBot. We contacted Forex GridBot support, read through the instruction manual again, and found that the robot is recommended to trade only from 12pm to 7pm EST. With the default settings, our testing of Forex GridBot was trading from 11am to 8pm EST.

No trades for Forex MegaDroid today. This robot better make some more trades soon, if it intends on making up that big loss it took on the last trade.

Forex Transformer Forex Robot testing day 6 was uneventful. It placed no trades so it is still at a modest 1.2% profit for the month so far.

Lerosa Pro FX Forex Robot placed 2 trades today, but they are still open. They currently have a floating profit of $136.00, but I’m not going to add it into the totals until the trades are closed out.

No new trades were placed by Forex Gridbot today.

I still wouldn’t buy this robot. It is too erratic, and the losses (or drawdown) are larger than the gains. We just had an interesting comment from a reader saying he has awesome results and maybe our settings are wrong. I sent an email to Forex GridBot support to get some answers. We’ll see what they have to say.

Forex MegaDroid Robot Test Results: -$793.90 (-7.9%)
No trades for Forex MegaDroid today. I’m only going to test this for about another week. It would be nice to see some more trades.
Forex MegaDroid Forex Robot placed 0 trades throughout the past day:

Winning Trades: 0 (+$0.00)
Losing Trades: 0 (-$0.00)
Today’s LOSS = -$0.00

Forex MegaDroid Forex Robot is down [...]

I just read an interesting article from Trading Gurus. A popular Forex Robot (one which we are currently testing) has had questions on how to reproduce their backtesting results. It seems many users (myself included) have been unable to see the amazing results that Forex Robots claim.

Forex Transformer Forex Robot testing day 3 was uneventful. It placed no trades so it is still at a modest 1.2% profit for the month so far. I hope to see a lot more trades next week.

Lerosa Pro FX Forex Robot didn’t place any trades today. So for now, it is up over $500 and holding. However, this was only the 3rd day of trading, and we have a long way to go to see how Lerosa Pro FX actually performs.

No trades for Forex MegaDroid today. That is to be expected since Forex MegaDroid doesn’t trade on Fridays, according to it’s creators. Forex MegaDroid Forex Robot is down 7.9% overall in 32 days of trading.

Trend Forex 2.0 is a Forex Robot created by John Chen. We are going to start testing it in a few days. What is Trend Forex 2.0?

Day 2 of testing for the Forex Transformer Forex Robot didn’t do quite so well. It placed 3 more trades, one of which was canceled before filling.

Lerosa Pro FX Forex Robot Live Testing Results:
+$518.43 (+5.2%)
Lerosa Pro FX Forex Robot placed 2 trades yesterday. So far so good, as both trades were profitable. The strange thing is that both trades were opened at the same time, on the same pair. Granted, it stayed within our money management rules and opened both trades [...]

Forex GridBot Live Testing Results:
-$1,362.18 (-13.6%)
Another 4 wins for Forex GridBot. It also has 2 open trades carrying a floating profit of about $12.
I still wouldn’t buy this robot. It is too erratic, and the losses (or drawdown) is larger than the gains.
Forex GridBot placed 6 trades throughout the past day:

Winning Trades: 4 (+$129.02)
Losing [...]

Forex MegaDroid finally placed a trade. Unfortunately, it didn’t turn out well. Today was a perfect example of one of the big problems with Forex Robots.

Day 1 of testing for the Forex Transformer Forex Robot was surprising. It only placed two trades, but the first trade closed out with a profit of more than $450!

Day 1 of testing for the Lerosa Pro FX Forex Robot was uneventful. No trades were placed today. Remember, I set up the robot with the aggressive setting as instructed by the user guide.

I still wouldn’t buy this robot. It is too erratic, and the losses (or drawdown) is larger than the gains. The win percentage is only about 60%

Still no trades from Forex MegaDroid. I verified all the settings. I’m also running it on a secondary broker. Neither broker posted any trades for the past day.

The actual purchase was fast and easy. But before I could download Forex Transformer, they threw an Upsell page at me. Basically they wanted me to spend another $77

We were contacted by the creator of Lerosa Pro FX!
No! Really! He sent us an email and asked us if we would test his Forex robot. He even sent us a copy free! So I did a little research on this automated trading system, and found out quite a bit.
Lerosa Pro FX claims that it [...]

Abhorrent, appalling, atrocious, awful, beastly, disastrous, disturbing, dreadful, frightful, ghastly, gruesome, harrowing, loathsome, monstrous, dreaded, horrendous, horrid, and horrifying.

Still no trades from Forex MegaDroid. I’ve decided to give Forex MegaDroid another two weeks of testing. To that end, I’ve also decided to run it on a new broker.

If I had to sum up the performance of Forex GridBot right now in one word, it would be… HORRIBLE.

Forex MegaDroid Robot Test Results: +$639.90 (+6.4%)
Still no trades from Forex MegaDroid. Another one of our members wrote me an email and said his Forex MegaDroid doesn’t trade very often either. But, as is ours, it is making a profit, even if it isn’t the $363 per day the Forex MegaDroid sales page claims.
Forex MegaDroid [...]

Forex GridBot seems pretty unpredictable so far, where one day it falls hard, and the next it makes up some of the lost ground.

I just checked their website again. According to their “Live” results, they have had 4 trades since June 11, 2009, while our testing has had none.

Forex Transformer is one of the newest Forex Robots or Automated Trading Systems on the market.
We are going to put it to the test.
Forex Transformer was released on May 19, 2009. John, one of our new members, asked us what we knew about this robot. We had to admit, we knew nothing. This release snuck [...]

Day 9 testing of Forex GridBot was better than yesterday. Forex GridBot placed 7 trades today, and were ALL profitable! I nearly fell over when I saw that…

Forex MegaDroid Robot Test Results: +$639.90 (+6.4%)
Ho hum… Still no trades since June 11, 2009. I’m emailing Forex MegaDroid support tomorrow morning.
Forex MegaDroid Summary Results (22 Days):

Profit Trades: 6 (100%) Loss Trades: 0 (0%)
Total Net Profit: $639.90 (+6.4%)

Here is the latest live trading forward testing statement for Forex MegaDroid:

We will test Forex [...]

FAP Turbo Evolution Edition Review
(Update: FAP Turbo Swiss is DEAD)
Got $50,000 to throw away? Give me half and I’ll save you $25,000!
Not long ago a Forex robot called FAP Turbo was released and has changed many people’s lives. Some people still swear it makes them money, we have proven that it fails to live up [...]

Forex GridBot is just proving to me once again that robots just don’t work. I realize it is only 8 days in, but down almost 13%

This is getting a little ridiculous. Forex MegaDroid is supposed to be this awesome robot that generates $363 per day.

I just got an email from FAP Turbo creators. Apparently the new Swiss edition of FAP Turbo “needs additional testing” due to “a few minor glitches”.
In other words, it doesn’t work any better than the original FAP Turbo did. Another question that crosses my mind is this… If FAP Turbo is such a great profitable [...]

Forex GridBot managed to make a bit of a profit today, but is still down almost $900 in the first week of trading. I can’t wait to see how it does in the second week, can you?

Forex MegaDroid Robot Test Results: +$639.90 (+6.4%)
Forex MegaDroid creators state in the user guide that it doesn’t trade on Sundays, Fridays, or holidays. So, Day 21 live testing of the automated trading system called Forex MegaDroid was nothing new. Still no new trades.
Forex MegaDroid Summary Results (21 Days):

Profit Trades: 6 (100%) Loss [...]

I hate when a site advertises FAP Turbo as a scam, only to try and sell it to you. I think that is the biggest FAP Turbo scam on the net. When we say a forex robot such as FAP Turbo is a scam, we mean it. We have tested FAP Turbo and found that [...]

Forex MegaDroid Robot Test Results: +$639.90 (+6.4%)
Day 17 live testing of the automated trading system called Forex MegaDroid was nothing new. Still no new trades.
Forex MegaDroid Summary Results (17 Days):

Profit Trades: 6 (100%) Loss Trades: 0 (0%)
Total Net Profit: $639.90 (+6.4%)

Here is the latest live trading forward testing statement for Forex MegaDroid:

We [...]