The Manual

The manual claims that Forex Transporter is the perfect EA for a “newbie,” as there are few variables within the EA. This is apparently the target, as the manual show every step, from installing MT4 to choosing  setting options on the robot, with pictures of every step to boot.  We put Transporter straight on demo (”Out of the box,” so to speak) to see if someone who is new to Forex or robot trading could easily install it and make a profit. It has been on demo since 25 January 2010.

Support

Support was quick, polite, and efficient; a request sent was answered within 12 hours.

Analysis

Transporter trades seldom; it has closed only 4 trades since we began testing. It is, however, holding 5 trades open, and some have been open for 4 weeks! Not all are in drawdown; the drawdown is quite high compared to its gains, though, at close to 7% currently.  In addition, those 5 trades could, in the long run, take up a lot of margin room, so this is something one will need to weigh when using this robot. It does not seem to trade at consistent times of the day or night, nor does it seem that it has any typical number of trades to place per week.

Overall

The robot is overall profitable, even if it is not the stellar results one might be used to. A 1.5% gain has been made in the first month of trading, and with low-risk settings. This robot looks promising thus far, but cautiousness will be necessary with a building drawdown.

Note About Our Stats Page

Our Forex Transporter stats became unavailable as the broker deleted our demo account, so we are unable to share previous results. We have restarted the demo and you can view our restarted account HERE.

The Manual

The manual is very straightforward and comprehensive, walking you through downloading the MT4 platform with pictures and details at every step.  It does not, however, go into much (or any!) detail regarding the inner-workings of the EA, trade timing, strategies, suggestions, etc. Installation of the EA is very simple, and uses a EURGBP 1 H chart.

According to the mauual, Juggernaut is ECN compatible, works with both standard and mini accounts, and uses a sophisticated money management system.  As mentioned earlier, there few settings, but 4 things are necessary to set up:

• Lot size
• Lot percentage
• Trading time 1
• Trading time 2

Furthermore, Forex Juggernaut will run on a $500 accounts; however, $1000 – $5000 is recommended.

Support

Support was quick, polite, and efficient; a request sent was answered within 24 hours.

Analysis

Forex Juggernaut trades EURGBP on the H1 timeframe, and places trades in the late afternoon and evening (GMT time).

There is a warning whenyou want to alter the chart time frame;, you must take the robot off the chart and re-attach it on the correct timeframe.

It uses a take profit of around 7-10 pips (though it is variable) and a stoploss of around 78 pips (also variable, as internal logic is used to exit trades at other points). It trades 1 – 5 trades per day on average. In testing, though, the largest stop hit was 62 pips; often, it was much smaller.

From the beginning of testing, the robot was doing very well! We were using an unusually risky lot size of 1.0 full lot on a $1,000 account, however. Once this was noticed, the lot size was changed to 0.5 lots.

Overall

Certainly all EAs require more than a month on demo, but Forex Juggernaut certainly looks promising. The drawdown is not significant and the profit is more than intriguing. Let’s see how next month goes!

Update from DonnaForex 8 March 2010:

I have had a number of people report inconsistent results with Juggernaut. You can tell if this is happening to you as you will get multiple losing trades on your account in a short period of time. I’m not sure what is causing this at this time but it could be an issue with the coding. When it works, it works really well – which is a real shame!

View Stats Here

If you have decided that Forex Robot World Cup is for you and you want to buy it, you can get it through this link:-

https://www.plimus.com/jsp/redirect.jsp?contractId=2642786&referrer=donna-forex

The Bonus

dfTrendRetrace manual system. I haven’t sold this system or otherwise released it/made it available.

The system aims to catch moves in the market at low risk times. It uses a very low stoploss and a large take profit. It is no holy grail but it is a simple, low risk system that works. It generates anywhere in the region of 100 to 300 pips per month. Quite often the trades triggered by dfTrendRetrace will make themselves known to be successful (or not) very quickly, the successful trades often having drawdowns of less than 5 pips. (email me after purchase to get this! admin@donnaforex.com)

Help/Support?

If you buy Forex Robot World Cup through my link above i can offer you further help as may be needed. This can include in the future access to my updated research / combination of settings and robots used for Forex Robot World Cup. Anyone who has used me for help and support previously will know that the information i can provide is down to earth and honest – firmly based in reality rather than fantasy of what vendors may like us to believe – and that goes for any vendor, i’m not talking specifically about this product (as indeed the results are real for this – which is unusual in itself but not without its problems as most people would not be comfortable trading at this level of risk).

But What do you REALLY think about this collection of robots?

This is a common question lately on my email. I will say here the same as i have said via email, and that is if i had to put my money on any robots working well in 2010, it would be put on this particular collection of robots. There are no guarantees in anything of course, but the odds are swung considerably in favour of FRWC based on a number of factors:-

1. Number of options. There are many robots with very different strategies. Some of the robots are the kind that i personally wouldn’t want to trade at all, in almost any situation – however there are enough “good” looking robots to make me feel relatively safe moving forward that at least something will be working well at any one time.

2. Transparency. The creators have been honest about their claims and the accounts they display are real money and are true and correct. This is not something i’d write about lightly and is not a claim you will see me verify often, if ever, but in this case the results are definitely true.

3. Liquidity issues. We have seen big problems with liquidity in the past with certain robots. I do not believe this will be an issue with FRWC  for a number of reasons. Firstly, the price is much higher and hence there will naturally be a lot less sales. Secondly, there are a number of robots, at any one time not everyone will be trading the same robot. Next, the robots are mostly not scalpers, and non-scalping robots are much more resistant to minor fluctuations and change. Finally, these robots can be applied to any Metatrader accounts (so not all traders are locked to a single broker such as occurred with Evolution robot)- this means that if you have any broker issues you can simply move elsewhere.

But will it really work in 1 year from now?

I don’t know. If i have to be totally honest here, i would say that a few of the robots very likely will stop working – that much is almost certain and a pattern we see time and time again with many different robots. This shouldn’t be viewed as an automated money making machine that is going to last you from now until you die in 20,30,40,50 or more years. It is also no holy grail. Robots commonly can and do fail, even to the best. This is why before deciding to make a purchase you should ensure that you are going to get full value out of it in a reasonable period of time (let’s say 6 to 12 months as a conservative estimate, taking all factors into account). This all but excludes you from buying these systems unless you have fairly substantial sums to trade with (or are willing to take very large risks) which will easily see you recover $999 plus extra profits in that time.

You are just saying good things because you are an affiliate!

Well, that is true to a certain degree, i’m not lying there. I have a business here. I am a professional trader and i can make my living trading, but i also like running my business and helping other traders. My business needs money and i have staff i have to pay too. We have several projects under development of our own for some genuine, solid attempts at creating a great robot, all this takes time, resources and money.  However, i will never bring to your attention or knowingly promote something i know to be very bad. If the worse comes to the worse and there is nothing good to talk about i’ll just have to stop talking, and start writing negative reviews (and there are a few on here if you want to browse the site a little!). So yes, if you buy via this link i will make some money – and you will have my gratitude for supporting my site and my research, and you will be rewarded with our help and a free manual trading system. There are websites out there which claim to be independent review sites but I can assure you that the majority are not – they simply have clever means of cloaking their affiliate links to fool you into thinking they are not trying to make money.

Finally, here is the link again: https://www.plimus.com/jsp/redirect.jsp?contractId=2642786&referrer=donna-forex

I don’t want Forex Robot World Cup but I want your support?

If there are other trading matters you would like help with then you can join the membership area of our site, please don’t buy FRWC if you don’t actually want it! I can answer general trading queries through the membership area private members email.

• FSA Regulated
• Credit card funding available
• Fixed Spread and Variable Spread accounts
• Microlots available
• Minimum account size 250 EUR

Trading rebates are 0.25 pips/standard lot for the Fixed Spreads Account and 0.125 pips/standard lot for the Interbank ( Variable Spreads ) Account.

Sign up instructions – New Accounts

Simply apply through the following link:
Click here

Sign Up Instructions – Existing Accounts

1. Apply for a new account through our coded link:
Click here

2. Once this new account is approved, log into the Secure Client Area and request a transfer of funds from your old account to your new one.

or

Fund the new account by external deposit.

• CySec licensed and FSA registered
• Credit card funding available
• Non Dealing-desk broker
• Microlots available
• Minimum account size $500

Trading rebates are 0.6 pips/standard lot for all pairs with the exception of the Eur/CHF and Eur/Gbp which pay 0.15 pips/standard lot.

Sign up instructions – New Accounts

Simply apply through the following link:
Click here

Sign Up Instructions – Existing Accounts

1. Apply for a new account through our coded link:
Click here

2. When the new account has been approved, request a transfer of funds from the existing account to the new one using the following form:
Click here

3. Email the form to support@tadawulfx.com

• NFA Regulated
• Credit Card funding available
• Minimum lot size is a Micro-lot ( 0.01 )
• Minimum account size $250

Trading Rebates range from 0.6 – 0.7 pips/lot.

Sign up instructions – New Accounts

Simply apply through the following link:
Click here

Sign Up Instructions – Existing FXDD Clients

FXDD does not allow existing clients to add/transfer an IB on new or existing accounts.

Forex Knightrider does not trade very frequently, we had 18 trades in total for our test. It also uses a large stoploss and a small take profit, which will result in a high win rate followed by the occasional large loss – an effect which can be seen on our test account. Towards the end of the test we did have two trades which did not have a stoploss or take profit placed – this appears to be a glitch in Metatrader at the time rather than being a problem with the robot, however it did result in two large stoplosses getting hit at once. Following this, and on reflection looking at our results so far we decided it just wasn’t worth continuing to test this over the long term, with such large stoplosses and infrequent trades it can take months to recover a single stoploss, a risk we just do not feel worth taking, although this robot is definitely far from being a bad one.

You can view our full statement - View Stats

After contacting the people at Forex Robot World Cup, I am pleased to say that they were indeed fully transparent about their competition and were able to provide me with access to their Metatrader platforms where the live tests were conducted so that i was able to verify the statements as true and correct. This is something which is significant since many of us know how well many systems perform on demo and how those same systems when put live never quite match up to expectations. Being able to verify the honesty / integrity of the whole competition is also important and a big step forwards in terms of transparency which i would love to see happen more frequently with normal robot vendors.

The following system tests have been verified as true and correct by myself and are genuine live accounts (other platforms i did not check, i only checked the top 11):-

1. LMD-Multicurrency – Gained 145.6%

2. HiRider – Gained 88.11%

3. SuperVolcano – Gained 36.25%

4. VREM2 – Gained 19.39%

5. Nutcracker – Gained 14.93%

6. Simple – Gained 8%

7. Neg-Correlation – Gained 6.07%

8. Zoop – Gained 4.34%

9. CobaltFX – Gained 3.58%

10. AkuKaya – Gained 0.2%

11. USFX – Lost 0.45%

Here is a screenshot i took of the results for HiRider in the platform directly (blanked out account number for security). You can see the account is a live one by the presence of a golden coloured icon next to the account number, you can also see it is on an FXCM platform:-

Where Does This Leave Us?

Well, what i like about this whole competition now having been able to verify the accounts as real is that it gives me a HUGE headstart, as a trader, in determining if a system is any good or not! To get to this point ourselves would normally take perhaps 2 to 3 months of demo testing then a further few months of live testing on top. My only slight niggle with what they have done here in the competition is that i wish they had continued for another month – three months would have been perfect for analysing further.

“Great Let’s Buy It !”

Not so fast!! Whilst the accounts are fully verified, i would caution that we need to find out if these are “real world” tradeable, for how long, and also determine what impact liquidity may have. It is no secret that this competition has been massively advertised by a huge number of affiliates, some of them huge players in the industry. I have no idea how many copies they would sell but it is my opinion that at least one or two of these robots could create a problem when traded massively all with one (or a handful of ) brokers – anyone who has tracked FAPTurbo for a very long time knows full well the effects of too many copies of a robot getting out into the market.

What i do think is in favour of these robots, is the fact that there are a number of them. They also seem to display a pretty decent cross-section of various strategies, from scalpers to ‘basket’ traders to correlation trading. They all have their own unique points which will attract different traders. Some have very low drawdowns (and lower returns), some have higher drawdowns but fantastic returns (like the number 1 position).  Most people picking up these robots for the first time will no doubt choose to go with the first place winner. Whilst this wouldn’t be a bad place to start and i will be investigating it myself too when the time comes, actually it is some of the robots further down the list which catch my eye.

“HiRider” for instance, has very consistent gains. I also feel this one will be prone to jumps in equity though/large stoplosses, etc. now and again. But if you like scalpers with high win rates this looks to be one which is working brilliantly right now for current conditions and the drawdown is a measly 3.26% for a return greater than 88% – statistically that looks miles better to me than the first place robot which suffered a 34% drawdown – a figure which most people will say they don’t mind but in reality when it happens to you on your account it may well just scare you out of your positions.

The “negative correlation” robot has an amazing drawdown of only 0.03%. How many people will be trading this one, i’m not sure – but at 6% gain for 0.03% drawdown i know this one will also be near the top of my list for testing! Again, i think a lot of traders will overlook this one based on its “low” (low compared to what most robots tell us we can get anyway, but this is actually a great figure!) return of only 6% over two months.

CobaltFX looks to be high risk with a large drawdown and minimal profit. Nutcracker also appaers to be a bit risky for my tastes. There are a few others that are inbetween which look suitable for testing later on.

Practical Details

Forex Robot World Cup EA’s are scheduled for release on 16th February. They are not cheap at a price of $999, however if i can find and trade long term with one or two of the EAs then it is worth the cost for me and i won’t be complaining about that. Before jumping into buying this system you do need to check if it is a viable expense for you based on your account size, there is no real sense in buying a $999 set of robots if all you have to trade with is $200, i see way too many people falling into this trap. Remember, trading is a business like any other and you must carefully weigh up any expenditure against your income and levels of capital for trading and make the figures work in your favour.

• Non Dealing Desk Broker
• 5 digit pricing
• ASIC Regulated
• Minimum lot size is a Micro-lot ( 0.01 )
• There are minimum deposit requirements

Trading rebates are 0.3 pips/standard lot.

Sign up Instructions – New Clients

1. Apply through the following link: http://www.gomarketsaus.com/?a_aid=AslanGroup
2. Once you have placed the first trade in your account, please send an email to admin@theaslangroup.biz ( Write “Go Markets” in the subject line ) and include your name and MT4 log-in ( the 6-digit number beginning with “5″ )

Existing GoMarkets Clients

This broker does not allow existing clients to add/transfer an IB on new or existing accounts.

Immediately, i was dismayed to discover the upsell tactics on proud display yet again. Once you have payed out $149 for the system, you are sent to another sales page promising you something even bigger and even better, ONLY another $77. I went for it in the interests of research. That wasn’t the end of it, there was yet another upsell after this, saying something about how special i was – one of the “chosen ones”, i now had access to the manual system behind USDBot, for ONLY another $49!!! Well, i wasn’t going to fall for that one and just clicked the “no” option then got presented with yet another sales page offering me that same manual system for $27 (sorry, anyone who purchased it at $49!).

Anyway, annoying sales tactics aside, here are our stats for the account starting today (note, if this is blank it is because the account was only started today! click the graph to view detailed stats):-

We are running USDBot (original) plus the upsell USDBOT Adaptive, both on the daily charts of the recommended two currency pairs, EURUSD and USDJPY.

On first glance i really do not feel this robot is ‘newbie’ friendly. The instructions are very brief, and some essential elements of the install/setup process are not described. The original USDbot is not adaptive to 5 digit brokers – although the vendor does provide a settings file for those who are unsure of how to alter the settings. I would recommend using this even if you are sure of the settings, because there is a lot that needs changing for 5 digit brokers.

Confusingly, the ‘adaptive usdbot’ is compatible with 5 digit brokers although there is no obvious mention of that until you open up the settings and discover that yourself in the settings list. This had me hunting around their site for a time looking to see if they had a .set file for this strategy as they do for the original, before i realised. It doesn’t help that they actually use the same trading manual for both systems, even though they are very obviously pretty different from one another. I don’t know if i’m missing something, but i also cannot find a comprehensive list of what all the settings are and mean, and there are a fair few settings in the list. Most of them are self-explanatory for the more advanced robot trader, but for a newbie they will be very bewildering.

USDBot uses a take profit and stoploss of 100 pips, and implements a trailing stop of 30 pips. The adaptive version appears to have stochastic indicators built in to it of which there are settings in the parameter list. The EA is ECN compatible and there is a setting to adjust for ECN/nonECN (an issue i didn’t find explained in the manual and so could be a problem for newbies again if you do not know what ECN means – if in doubt, always put ECN mode on, it won’t actually hurt if your broker is not ECN). Original USDBot has a money management setting, but the ‘adaptive usdbot’ does not – something i’m not understanding at the moment but that’s how it is.

Sorry to say that this long review has been more about their sales and processes rather than the robot, but it’s all i can comment on right now… and wanted to get something up as a lot of people are emailing us asking about this one. Do keep an eye on our results, they will tell the truth behind this EA and whether it really performs as well as they claim it will, etc. something which in my mind is in serious question since the vendors own live account is still very new.

Finally, the EA is sold via Clickbank, complete with their usual money back guarantees.