Just upgraded my FRWC

An upgrade was available for the FRWC Fusion, so I had to close all currently open trades (most of which were in profit WOOHOO!) and shut down my Metatrader in order to upgrade the robot. So far it is the only time I had to interfere with the robot's trading. There were no stop-loss or take-profit on any of the open trades, so I don't know how they would have ended if I hadn't interfered with them.

FRWC Fusion? Failing?

Well, I have been running the Forex Robot World Cup Fusion EA for about a week now and it was off to a good start. However, in the last 2 days it lost all of its previous gains and the account is down more than 3%. Of course one week is not enough time to measure the true performance of a robot (I wish some of my EA customers knew that).

Like I said before, I will let FRWC Fusion run for one month before making any judgements. After all, 3% drawdown on an account is not a bad thing if the losses can be recovered. Here is a simple formula that I use to determine if a robot is worth investing money into...

1. Let the robot run for at least 1 month (or backtest for 3 to 12 months).
2. Calculate the maximum drawdown on the account during the testing period.
3. The account profit at the end of the time period (or backtest) must be at least 3 times the amount of the maximum drawdown.

If you want to be even more aggressive in your testing...

1. Run 12 1-month backtests for the past 12 months, noting the max drawdown and ending balance for each month.
2. Calculate the average ending profit of all 12 months.
3. The AVERAGE ending profit must be at least 3 times the HIGHEST max drawdown.

I would imagine that most EA's on the market today will not pass the aggressive test. But if you find one, you should really take advantage of it and use it for a nice additional cash flow. I myself am working on an advanced version of Forex Set and Forget that can easily pass such aggressive testing. I am also working on a new version of AME Cross Trader that can be used with any of the money management strategies in my book, The Forex Millionaire Maker, to enable you to become wealthy in a matter of a few years.

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