What to do…

Well, I don’t know about you, but I’m constantly looking for new robots to make me money. Lately this have reversed a little (since FD2 burned me), but there are two EAs I am considering to buy right now, besides the not yet released FAP Turbo Swiss (should be out by July 14th). They are RoboMiner and Joury EA.

I have run RoboMiner in a Alpari US demo for 6 weeks and at one point I really didn’t think it was working out for along time. It constantly had 10-12 trailing orders with quite large losses accumulated (at one point more than 25% of the account). But the market have reversed and RoboMiner have had a serious payday. During June (in the demo account) it made 38 trades in AUDNZD with profit and had one lingering with a running loss of €20. The total profit was around €800, or close to 15%. RoboMiner is a grid trader and it opens orders without stop loss. This can seem scary, but the thing is that the pair it trades, AUDNZD, is very range bound. The economies of Australia and New Zeeland are both very commodity heavy and they usually follow the same economic swings. This makes there currencies very nice to trade with a grid system (I’ve been trading it with GridBot EA also). The down side is the spread, at Alpari UK it is 20 pips. There are other brokers with lower, but I haven’t found anything lower than 14 pips. A very nice thing is that you can demo RoboMiner (and its bigger brother GT-Shadow) for free. The price is a whopping $495, but you can subscribe to it for $40 a month if you want. I’m considering the subscription. As for broker I think I’m going with Alpari UK because of the 1:500 leverge, with just 1:100 the margin is perhaps a bit to tight to fully trade this EA.

Joury EA is a quite different being than the slow and careful RoboMiner. I haven’t demo traded it but I have gotten input from people who do and who also trade it live. It is a completely mad system that takes many small positions, sometimes hedges them when the free margin is small and sometimes even re-hedge the hedge (like I said crazy). But it seems to work out. The gains are small but quite even. It can trade many pairs but the ones most profitable are GBPJPY, GBPUSD and CADUSD as I understand it. The cost is $197 and it is not a ClickBank product. This is actually why I haven’t bought it yet, I really enjoy the possibility to demo trade during the refund period and have the possibility to return the product if it doesn’t perform well.

I’ve finally opened and funded an account at Forex.com/UK, I will trade it parallel with my Alpari UK account as before. I will start out with just MegaDroid on it, but will get another license for GridBot eventually (when they release the hedging function). Forex.com/UK has somewhat higher spreads at EURUSD than Alpari UK (2-3 vs fixed 1.8), but Alpari UK is going to start offering floating spreads soon (perhaps July). I think this will mean higher spreads for EURUSD, but perhaps lower for GBPJPY, AUDNZD and the likes that now have quite high fixed spreads. Forex.com/UK is offering better spreads almost all the time in GridBots main pairs.

It is still my strategy to have 3-4 live accounts running at the same time, as a way to hopefully diversify enough to eliminate broker manipulation. I am currently running demo at FXCM/UK (I have applied for a live account there also, but haven’t funded it yet). FXCM/UK offers floating spreads with 5 decimals, but for some reason I don’t get my EAs (FAPT, MD and GD) to trade very well there (on the demo). Don’t know why. The spreads are low during the day, but about the same as Forex.com/UK during the Asian session.

I have a demo at MB Trading that is doing great with FAP Turbo (even in GBPCHF) but they’re still in Beta and isn’t accepting new live customers right now. They take commission, but the spreads are amazing.

I am also looking at FxOpen and FXDD, will start demos there soon. I think that FxOpen is more like Forex.com/UK and FXDD more like Alpari UK. Of course I wouldn’t open accounts without the cashback offered by cashbackforex.com, that’s like throwing money away.

On the FAPT Swiss side I’ve found a new website offering 33.33% rebate on commissions, but it isn’t as well known as cashbackforex.com so I don’t know if I’ll sign there yet. Cashbackforex is huge and old in the game, the chance they close down and stop paying you is minimal. The new site there’s no telling with of course. So I still recommend to sign with the 30%  cashback. But sure, 11% more in the pocket is real money…