With this WorldProFX Demo account we’ve seen a lot of trade with just two pairs. It is recommended to only trade one pair per $2500, so we are sticking with the recommendations at this time. Tom’s EA is doing what it is supposed to at this point. We are also pretty excited about offer a Coupon Code for UltraHosting. UltraHosting is a Forex VPS hosting company offering Forex traders to load their EA’s and feel good about it. The VPS industry is growing huge due to the fact of reliability issues with home computers and Internet Service Providers. UltraHosting will help alleviate those problems right away.

Here is our latest video of what is happening with our current Robot. Please comment below if you have any questions.

Eventually you will want a VPS server to handle your EA for you so you don’t have downtime. There is nothing like losing out because your computer is not working. Very frustrating for sure. This is something we delt with recently and have learned the hard way.

This morning we had over 15 trades opened and a lot of them were to the short side. The markets had moved up pretty good giving us a chunk of draw-down. However, this draw-down was not hitting our original $5000. We were already up quite a bit at this time. Our equity came back a nice portion, but the market found a way to move in our direction. Within this 30 minutes to an hour we saw 15 trades close. Some of the bigger gainers closed the smaller loses. This let us pretty much start over on the EA with a 5% gain free and clear.

Here is a video of our latest happening’s with Tom’s EA. Remember you can download Toms EA here.

Download Toms EA here

If you have ever experienced a power outage in the middle of your trading day, you know exactly how detrimental this can be. Even if you are running an expert advisor (EA) or robot, if you are in the middle of a trade, you will be stuck with an open trade with no way to close it. This can cost you thousands of dollars if things don’t go your way.

If you are using an EA, you have the benefit of conducting fully automated trades. This can be in your favor, but if a power outage does occur, you will still be out of luck. Because the EA is connected to your computer, when the power goes out, so does the EA you were using.

There is a way to prevent this tragedy from happening. Using a virtual private server (VPS) can eliminate the threat of having open trades for an indefinite amount of time. Because a Forex VPS copies everything on your hard drive and all open applications, if your power goes out, the VPS will still be able to run and your trades will still be executed and closed when the EA indicates that they should be. As you can see, having a VPS is a great way to protect yourself and your money. This is especially true if you trade with large amounts of cash.

The other benefit of running a VPS is that you can access your computer from any location without having to haul a laptop around with you. The VPS can be accessed from anywhere that there is internet, so you never need to worry about being without a way to trade again.

The Forex market is volatile, especially when you start dealing with large amounts of leverage. In order to protect yourself as much as possible, back up your trading data on a VPS. This will allow you the maximum amount of safety from ever-changing currency prices. Whether you are trading Forex or Binary Options having a solid connection is critical. Always consider what can happen should something go wrong.

So, right now we are trading only the EURUSD and GBPUD.

Here is a look at our account at MyFXBook.com right now. This is constantly updated every 5 minutes, so it is best to see it on the other site then me writing it here since it will be outdated. However, the account is up over 1.7% in two days. This is great considering it just runs without any interaction. Overall I’ve been very impressed with the stability of the EA. At first when they were beta testing it did have some bugs. Now, the thing is pretty rock solid. As long as our server stays up, we should be able to keep updating you. We may even have to look into a Forex VPS setup.

One way to combat this is to select an EA that allows you to adjust the degree of risk. Some EAs can go as low as 1 percent in the risk category. While this might not get you the big trades as often, it will ensure that you are receiving a more steady supply of small profits.

Another pro to using an EA is the fact that it can get a jump on the trades you want to make before you know that you want to make them. Because it is a software program, it can monitor many variables at once and spot potential profits much more quickly than a human can. The reverse of this is also true. EAs can tell when a movement is about to come to an end and can close out the trade when it has reached the appropriate level. A human is often inclined to hold onto trades just a bit too long while trying to squeeze out one last pip. This often spells disaster for greedy traders.

The biggest negative to using an EA is that they are dependent upon your computer. What I mean by this is that it is a piece of software that you run on your computer, not a web program. If your power goes out while in the middle of a trade, there is no way to close the trade at the moment you desire. You will be stuck with an open, and therefore dangerous, trade until your power returns. The only way to avoid this is to have a remote desktop or a Forex virtual private server.

EAs are a great way for beginners to begin trading because it eliminates the human emotions that are so common with beginning traders. Having trades executed automatically for you will help you to overcome the nervousness and stress that can easily ruin a beginner. Instead, trades are made based purely upon logic. When a certain situation occurs, the EA detects this and automates the trade for you. This can be seen in the recently released version of Toms EA.

EA trading is a great way to expand the trading ability of experienced Forex traders as well. An EA has the ability to soak up far more information than even the most experienced human trader can. In this respect, EAs can look at multiple currency pairs at a time, check leading and trailing indicators, and look for breakthroughs from the dominant trends, all in one moment. This type of examination would cost a human precious minutes or even hours; the EA can conduct the trade for you the precise moment that a possible profitable trade appears. Rather than being held back by your own humanness, you will be able to jump into a trade the instant that the opening occurs. A good EA can even lower the risk that an experienced trader can be exposed to. So many EAs now have built in stop-loss parameters, thus making sure that when you do lose a trade, you are only losing a miniscule amount.

Here is what happened according to our latest records.

Today was the first full day we had the USDCAD on board. Although the 24 hour clock is not over yet, Tom’s EA closed 20 different trades. We are currently trading 5 currency pairs and all of them have opened orders. Our total equity is still in the green, but hasn’t really increased since yesterday. We also currently have 21 orders working for us. These orders are both buy and sell orders, so no matter which way the market moves, things are happening. By the time the UK opens we should see some more closing trades.

Overall, I’m pretty excited about this EA. Although it isn’t a fast cash machine, it does show signs of resilience and growth. I don’t want my account to go up too fast, because I know it could then drop just as fast. This makes the EA very powerful.

Stay tuned for our latest update as we watch Toms EA do it’s thing.

On September 29th, 2011 I decided to open a demo account at WorldProFX. One of the new brokers on the market, but someone we feel comfortable dealing with. The Demo account was created with $5000. We loaded the EA on EURUSD, GBPUSD, AUDUSD, and EURGBP charts. I was recently told to use the USDCAD, so I added it as well on October 5th, 2011. This may be a little too much for $5000, but I’m willing to give it a try. I used AUDUSD, but I have not heard why that wasn’t recommended. I assume it doesn’t perform as good as the others. I guess this will be a good test for the days to come, especially if you get it yourself.

Let’s keep in mind that I started Tom’s EA on four different pairs just before the markets tanked. In most cases, EA’s would have blown up the account. However, this EA managed to not only hold it’s ground, but make some money in five the days that it has been open. This will be fun to report on and we hope you keep coming back for more feedback. Leave comments below if you have and questions.

After logging in things couldn’t be easier especially for a newbie to Forex Trading. Since we have a lot of experience with these type of robots it just made the process a hell of a lot smoother. Everything you need is in the members area. You create a profile with your name and Metatrader account number. You also get the user guide and customer support information. Also, within a couple of days they already came out with a new version of the robot, that provides enhancements and improvements. From getting the EA to installing the EA it couldn’t be easier.

Now for the results.
We started the Forex UltraRobot on 2/17/2010 – 03/01/2010
Broker – FX Solutions
Account Size – $10,000
Money Management – AutoCalculateLot which means the lots will increase or decrease depending on the amount of money in your account.
Four Pairs Traded at the same time – GBPJPY, EURGBP, EURJPY, GBPCHF

I don’t know what it was, but we got off to a really bad start. This could have been bad timing, but I almost turned it off thinking this thing has no chance to making it on my website for my visitors to read. Within a few days my mind changed. This robot has shown some resilience for sure. In two weeks of trading four different pairs and pretty much keeping all the defaults the Bot has turned my account from $10,000 to $10,304.

Here is where it gets interesting. You don’t have to trade all pairs. I only did it to show you how this robot performs on all pairs. Listed below is a breakdown of each of the four pairs.  The amounts would be different since we used the bankroll management feature, but this will give you an idea of what it would have done.

• GBPCHF – Profit of $217.69 or 2.1%
• GBPJPY – Profit of $1,332.97 or 13.3% (Yeaaa)
• EURJPY – Loss of $1,296.89 or -12.9% (Yikes)
• EURGBP – Profit of $113.88 or 1.1%

February 17, 2010 – March 1, 2010 – Performance report on all pairs.  As you can see the results come out pretty clean when you trade all four pairs.  It will be up to you on how you want to trade this Robot.

To start trading this Forex UltraRobot Click Here.  It is reasonably priced and it may make you some money.

To start trading this Forex UltraRobot Click Here.  It is reasonably priced and it may make you some money.

]]> http://www.forexnewstrader.com/auto/new-forex-robot-on-the-block/feed 0 http://www.forexnewstrader.com/auto/robot-performing-well http://www.forexnewstrader.com/auto/robot-performing-well#comments Sun, 22 Jun 2008 22:02:24 +0000 Rich http://www.forexnewstrader.com/?p=106 Read more ....]]> It was a slow week for trading the Pound Yen and the beast kept in a fairly tight range.  Our robot has held steady taking some losses and finding some winners.   Remember this is a continuation from where we left off over 219%. in three months.  We are up 21% since the inception of this robot, so all in all we are in great shape.

We do have some more good news.  Coming soon, you will be able to have one of your own take off robots.  The requirements to receive this robot are fairly simple, so stay tuned.  You may also contact us on our contact page if you would like your own Forex Robot.