A rough couple of months for Forex Set and Forget

I started Forex Set and Forget on this account a few months ago and it immediately went into drawdown for the 2nd half of November and most of December. This might seem discouraging at first, but when you look at the backtest reports on the web site, you'll notice that even though some months show losses for the month, in the long run the robot shows a nice profit. This is not unlike a professional trader's results, which will show ups and downs with the ups being bigger (in general) than the downs.

As you can see in the chart above, the robot has fully recovered from the drawdown and is now in profit. Nearly 10% profit, which is right on track for 60% annual gains. My research has shown that with the right settings, Forex Set and Forget can easily produce 5% gains per month on average.

Other robots claim to be able to double your account every month, or some other ridiculous claims. However, I am under the belief that a good trader can outperform even the best robots. And I don't see any traders bragging about how they have consistently doubled their accounts month after month. My AME Cross Trader generated 700% gains in 1 week in the 2008 Automated Trading Competition! But I have no right to say that it can do that on a regular basis. Forex Set and Forget can be configured to double your account in a month or less, but it's not worth the risk. At least not for the long term.

Anyway, I lost my chain of thought. Sorry. Bottom line is if you want a nice cash flow or steady, predictable growth, then a robot like Forex Set and Forget is what you need. If you like gambling, then there are hundreds of commercial (and free) robots that will gladly drain your entire account while you shoot for the stars.

FSaF Version 1.09 is in the works

Version 1.09 of Forex Set and Forget is in the works and should be available no later than 31 October, which coincides with the end of an experiment I am currently conducting. Ten or so participants have agreed to run FSaF version 1.08 from 01 September until 31 October and provide me data and feedback about the experience (install, operate, manage, etc.). This will enable me to enhance the usability, reliability and discover any bugs that need to be fixed before version 1.09 is released. So far the response has been positive and a few have already seen some very nice profits. The feedback I am getting has been priceless and has prompted this "extreme makeover" from version 1.08 to 1.09.

Version 1.09 will be priced significantly higher than 1.08. Right now I'm thinking the price will be at least $249 but that price is not carved in stone. However, you can buy version 1.08 now at $99 and then upgrade to 1.09 for free when it becomes available. You have just a few weeks to take advantage of this situation before it's too late and the price goes up.