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Here is the email I've got from one of my fellow traders:

"What happened? How is it that you were doing so well in the first 4 weeks and then suddenly crashed? I appreciate that you are using aggressive settings, but what is the reason for the sudden reversal of fortune? The robots are supposed to cope with markets trading in both directions. " In your next newsletter, can you please let us all know what happened so that we don't make the same mistakes? I would really appreciate your insight on this."

I think my "Challenge" is the best lesson that I can give for my fellow traders. Learn on my "mistakes".

My 5000 USD account first quadrupled (at some point equity reached 20k) however after 2 bad weeks it returned back to the starting balance. I was not crazy when I used super high risk at the beginning. I am a trader with well over 10 years of experience. The idea was to show you what robots are capable of. What did I prove?

FACT1: 300% return in 3 weeks is not a fairy tale. It is truth and it is doable. It can be achieved with the best commercial robots in only 3 weeks of trading!

FACT2: Can you quadruple your deposit every 3 weeks? NO! You can't! Even the best commercial robots can have bad weeks. There is no such thing as "robot that can work with any market conditions". Forget the marketing hype! Face the ugly truth. All systems work better in specific conditions.

FACT3: Bad weeks or even months are the normal part of Forex trading experience and should be expected. There is no crystal ball otherwise we all can become millionaires in just 3 months.

FACT4: You need to decide if you are an aggressive trader or conservative trader. Aggressive trader (like me) triples deposit in just 3 weeks, then withdraws the earnings and plays on "casino" money. Of course I can blow away my deposit easily along the way and I don’t care because it is always covered by the good trading later. If you are a conservative trader - set you lot size 0.01 on 5k deposit and enjoy slow but stable returns. The maximum return of 50% annually is considered as a good return for conservative people.

FACT5: Invest only what you can afford to lose. These words are as old as the world.. However people forget them and rush into trading hot headed before they understand the risk.

FACT6: Does this all mean commercial robots are bad? No it does not. It does not really matter if you trade commercial robot, free EA or manual system. You will always fail. You will always have bad weeks. You have got to have strong guts to be on forex. There is no such thing as "consistent winning". You must be prepared to take the risk. No pain - no gain. Remember?

The bottom line is - I still love all these robots and will proceed trading no matter if I encounter bad weeks. Its time for you to decided if you are an aggressive trader or conservative trader and follow the rules.

Let’s summarize:

• Aggressive trader triples accounts in 3 weeks, withdraws the profits. Aggressive trade can blow his account in just few days and must be prepared to face it. Aggressive trade can reach 20k from 5K in 3 weeks.

• Conservative trader looks for a long term return. It’s hardly possible to blow away the account. On the other hand conservative trader should be happy to get maximum profit of $2500 from 5k deposit in one year.

It’s time to choose your side.

-First Challenge is over, guys. EB-Turbo robot has blown our account having 2 bad weeks in a row. This robot will not be used on the next Challenge that I am going to start next week. Check out later for updates. Here is the Challenge1 summary image

New Challenge will start on Monday! Happy Valentine's Day, dear fellow traders! I love you all!

Ooops! Sorry guys, I did not notice the Mt4 glitch that stopped my live publishing of the Challenge II. Thanks to John R. for helping me with that. I will be adding robots from FRWC soon.

I have added Hirider from FRWC to the army of robots

Last week was tough. After the experience of volatile markets we have been hit by a NEWs event from FED. Finally we are out of drawdown and doing good again.

Hey guys! I have added the comments section below. Now you can leave your comments and questions there. This week we are doing great again!

Robominer is removed today. It can't cope with the strange strong uptrend on AunNzd and keeps opening hanging trades which will hang forever.

Challenge II will be over soon and we'll start new Challenge 3 with new settings and robots. The Challenge II highest equity was $11,383 which means we could double the deposit on the moderate risk. Last weeks Challenge account was not doing well so I will stop old setup. This does not mean that robots are bad, I just need to upgrade all of them such as Hirider advanced, Fapturbo50 etc. I was using old versions.

Happy Easter, folks! As promised I start the new Million Dollar Challenge III. This time the army contains of 4 best performing commercial robots: Fapturbo 50, Megadroid, FRWC Hirider and Fapwinner Scalper. I had to get rid of under-performing robots such as Juggernaut and Nuke. Let the challenge begin!

The first week of Million Dollar Challenge III was great. We made 10.8% of profit. Most of the trades were made by Fapturbo 50 and Hirider advanced.

Sometimes you can see my metatrader statement is blank. It is not my fault. It is just a simple MT4 publishing glitch that happens from time to time. When I see the blank statement I have to log in to my VPS and restart the MT4 terminal to fix that. Sorry about that guys.

Mr. Charles Floyd from Fapwinner (remember, I made an interview with him last year) liked the idea of my million dollar challenge and decided to start his own challenge. You can follow it on his blog here: Charles' Challenge Blog - he is already in profit after first 2 weeks!! You can follow each trade.

We are back in profit zone, guys! Markets are always better in summer for robots like Fapturbo.

Finally the account was doubled. So far so good.

Account tripled. I plan to add GPS robot soon. It works really good.. Sorry guys, sometimes publishing does not work properly and you see blank statement. I will try to fix it.