July 29, 2009

IvyBot Robot - Is It Too Good To Be True?

IvyBot is the latest forex robot to be released and this one appears to be a little more advanced than most because it consists of four separate advisors (each trading the EUR/USD, EUR/JPY, USD/CHF and USD/JPY pairs) and claims to adapt to changing market conditions.

However is the IvyBot forex robot too good to be true?

I have to admit that with more and more forex robots being released on to the market, I seem to be getting more and more sceptical about them. I've never really used any of these robots myself, mainly because I don't have access to MetaTrader4, but the feedback I've received from many of my readers and subscribers has never been that positive.

Anyway going back to this particular product, the IvyBot robot certainly appears to be very impressive if you read the sales page with gains of between 475% and 920% per year every year since 2001.

But the various aspirational pictures of Rolls Royces, tropical islands, and piles of cash are certainly a big turn-off and you have to wonder why it's priced so cheaply if it's as profitable as it makes out to be.

I'm guessing that if it really was that profitable then they could easily sell a license to this robot to one of the major banks for several million dollars, but maybe I'm just being overly sceptical.

China Stimulus Opens Opportunities For Trade Partners -Xinhua

http://www.djnewswires.com/eu China Stimulus Opens Opportunities For Trade Partners -Xinhua

BEIJING -(Dow Jones)- China's stimulus package and ongoing fast economic growth will benefit its trading partners struggling with the effects of the global financial crisis, a commentary by the official Xinhua News Agency said Wednesday.

The article, which was posted on the State Council's Web site a day before China's parliament is due to meet for its annual session, also said the country's massive foreign exchange reserves are a source of hope to financial institutions around the world struggling with inadequate liquidity.

Global finance and money markets benefit from China's policy of keeping the yuan stable, it said.

The column also called on large developing nations to be given a greater role in international financial and economic bodies, and said those countries are the world's best hope for a quick rebound from the crisis.

The author of the column wasn't named.

  Newspaper Web site: http://www.gov.cn

GBP/USD: Cable holding above 1.4000

http://www.djnewswires.com/eu GLOBAL MARKETS: European Stocks To Push Cautiously Higher

  By Peter Nurse
  Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--European stocks are expected to open slightly higher Wednesday, after modest gains in Asia boosted confidence. However, investors are likely to remain very cautious, given continued signs of the extent of the global economic slowdown.

"With some optimism emerging in Asia overnight, expectations are for the European markets to open mostly higher," said Matt Buckland, a dealer at CMC Markets. "Overall, however, there doesn't seem to be a natural turning point now where investors are looking at stocks as being oversold, and the lack of confidence means risks remain heaped on the downside."

Buckland expects European indexes to push higher at the open, with London's FTSE 100 index set to add 32 points to 3544. He also sees Frankfurt's DAX index rising 24 points to 3715, and the CAC-40 index in Paris up four points to 2559.

Gains on the Shanghai Composite Index resulted in a degree of confidence returning to the markets in Asia, with the index posting gains of more than 4% on hopes the start Thursday of the National People's Congress will lead to further announcements on supportive measures for the economy.

China's February Purchasing Managers' Index also came in at 49.0, compared with January's 45.3 release. While a PMI reading under 50 indicates manufacturing activity is still contracting, the release offers some signs it may be nearing bottom.

Japan's Nikkei 225 index followed the more positive tone set by China, pushing out of the red seen earlier in the day to close 0.9% higher.