USDBOT Review - Forex Tester. Independent Forex Systems Testing and Reviews

Forex Tester is new independent and unbiased forex testing service founded by Mark Larsen, professional forex trader with well over 10 years of experience. Main goal of the website is to provide independent investigation and review of all top forex systems and expert advisors available on the market.

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Hi there!
I am Mark, professional Forex trader with well over 10 years of trading experience.

Few years ago my good friend Ryan and I decided to create the website with independent forex reviews. Bit later I started the series of my video forex reviews on youtube and forex-tester website.

We never join any affiliate or referral links, we do not charge any fees to any service provider nor to our users to read the content. All forex reviews are based on the last test performance of each trading system and our own experience.

We were really tired of all the crap going on the forex market recently so our goal is to provide the word honestly about each forex system to fellow traders looking for help and advice.

ADDED:
January
2010

USDBOT

Tested results: Scam

Updated: February, 11 2010

Cost: unknown
Timeframes: unknown
Currency Pairs: unknown
Profitable: 6/10
Easy To Follow: 7/10
Honest Result: 5/10
The Good: Nothing good. Scam!
The Bad: Scam. Beware!!!
Results: 0/5

Update February 2010: It has come to my attention that USDBot is a scam. It is a clone of a free EA called Opto123. The developers of USDBot released version2 which has completely different logic and based on simple martingale that will blow your account. Be careful!

USDBOT is a new over hyped EA released by Mark Trenton. The marketing is copied from fapturbo, even the iframes with the accounts. However the results shown on page are from few weeks of trading and they are not updated in real time.

I decided to dig deeper and analyze the robot USDBOT. It trades EURUSD and USDJPY on D1 timeframe. The short term backtest for 2009 looks good:

USDBOT EURUSD 2009 Backtest Results:

However USDBOT seems to be optimized for the 2009 only:

USDBOT EURUSD 2005-2010 Backtest Results:

Same picture on USDJPY. Good results in 2009 but bad in 2005-2008:

USDBOT USDJPY 2005-2010 Backtest Results:

The bottom line is USDBOt is optimized for the current market conditions and it is hard to predict how it will perform in future. We have placed in on the demo account for the forward test.

Check out the USDBOT website

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