Forex Bling – First Trades

Notice the violent up trend - 15min Bar Chart

I just woke up and checked how our new Forex EA is doing. Well we are around -$100 down – not a good start.

Analysing what happened, Forex_Bling did pretty good trades during the night, but this morning the market got crazy. ThunderBolt which is a grid trading robot, closed most of its trades at a loss due to the violent up trend that occurred in the market within an hour or so and kept going up for a couple of hours. Of course a grid trading robot is not adequate for such reaction, hence the losses. At least the losses are not huge and are around $25.60.

Looking at the screen shot on the left, the chart is 15 min chart.  The red / green arrows indicates where Thunderbolt was trading.   As you notice this EA is excellent for choppy markets, or in other ways, pairs that are not trending, or that.  I bet AUS/NZD and EUR/CHF can be good pairs for this robot.

Anyway, I am not defending in no way Forex Bling – you know how blunt and critical I am at these robots and in all my reviews, but I am just explaining why we have started with a loss. On the contrary then Freedom Robot which is a trend robot, produced a good trade of $48 profit confirming what’s its main duty is.

For next time, keep following this interesting robot.

Forex Bling Setup

I have setup Forex Bling on a $5000 demo account and we will see how it goes.

I have left all the default settings for every robot.

From what I have seen, all the settings available are pretty straight forward. What is a bit annoying is that you need to input the confusing GMT Offset Settings. But anyway, the rest is pretty straight forward.

Keep Tuned, this can be a great robot.