19‏/11‏/2008

Forex Autocash Robot

Forex Autocash Robot is the latest forex trading robot to hit the market. They seem to be all the rage at the moment, but this one has certainly caught my attention for a number of reasons.
The first reason is because it's been developed by someone who actually builds professional trading robots for a living. The developer, John Burroughs, has actually been hired to create profitable trading robots for a large financial institution in the past, so he clearly knows what he is talking about, and obviously knows how to create profitable robots.
The second reason why this particular robot caught my eye is it's incredible performance record over the last 9 years or so. It boasts an unbelievable record of 597 consecutive winning trades which is unheard of in the forex industry, and this is all backed up by a trading statement which highlights every single one of these trades.
The Forex Autocash Robot is programmed to trade the EUR/USD pair and aims to take a very modest 6 or 7 points from every single trade, which it seems to do quite easily if it's past record is anything to go by.
I have to admit I'm slightly sceptical about the Forex Autocash Robot as it seems too good to be true. The thing that bothers me is the potential drawdown if a trade doesn't go according to plan, because it's bound to have some losing trades eventually.
Overall though it may well be worth trying out because it comes with a 60 day guarantee so you effectively have 60 days to test it out and see how it performs and if it turns out to be a load of tosh you can always ask for a full refund.
I will probably buy the Forex Autocash Robot and test it out in the near future, out of curiosity as much as anything, but in the meantime if you do decide to give it a go yourself, please drop me an email or leave a comment on this blog to let me know how it performs.
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Weekly Trading Update - October 27-31

Weekly Trading Update - October 27-31
It's only going to be a quick update this week because I only have one trading position to tell you about. I thought I was going to go the whole week without having a trade triggered by my 4 hour system, but thankfully there was a nice set-up earlier today on the EUR/USD pair.
The EMAs that I use crossed downwards on the 4 hour chart overnight before gradually retracing and allowing me to get a good entry point this morning. I screened down to the 2 hour chart and entered close to the near-term EMA on that time frame to enter a short position at 1.2770.
As this was likely to be my only trade of the week I wasn't looking to net a huge profit from this trade, particularly as that would probably involve holding a position over the weekend, which I don't generally like to do. So as soon as it dropped to 1.2720 I was out for 50 points (minus the spread) and was quite happy with that.
The GBP/USD pair also saw the EMAs cross downwards this afternoon, and would have been another profitable position, but I decided not to trade this one as Friday afternoon isn't generally a great time to open new positions.
So overall it was a pretty decent week this week with nearly 50 points being banked.

19‏/11‏/2008

Forex Autocash Robot

Weekly Trading Update - October 27-31

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