MACD Turbo V2.0 | Excellent Free EA

Hi guys, so this is a Free EA from XeroFx. It trades on the H1 time frame of the Gbp/Usd pair. It can be traded on the other majors, but it would need optimization.

I ran a quick backtest of this and I must say I was impressed. I paid money for EA that were MUCH worse than this.

Take a look at this quick backtest.

Yes I am aware that this is a small sample size, but heck the thing is FREE. I will probably run a longer backtest when I have the time to do it. : )



I adjusted the TP to 150 pips and the SL to 100 for the test above. Everything else is Default.

If you are just starting out trading Forex I would HIGHLY recommend you download this expert and put it on a DEMO account to get a feel for how it trades. You will definitely get your feet wet with this one.

I may actually use this on some real money in the future. After I run a longer backtest I will make that decision. Until then I will play around with this one for a long time to come.

MACD Turbo V2.0 Free EA

Fx Flash | Trade 7 Pairs for $47

Hey guys, Well here is a Forex Ea bargain if I ever heard of one. With Fx Flash we can trade 7 currency pairs for a mere $47.

This one is brought to us from the makers of the Forex Overdrive System. It is a scalper by nature and can either be traded on the 15 min time frame or the H1 time frame.

What about backtests?

There are 99% modeling back tests available for each of the 7 currency pairs that are supported by the vendor.

I really like the diversity of the 7 pairs with this EA. This reminds me of the Wallstreet Forex robot, with tighter stop losses. Note that tick data goes back to 2007 only so we can not achieve a 10 year backtest.

Now lets take a look at the live trading results below.

So far so good, but at time of writing this was a small sample size.

There are supposedly 16 different versions that can be traded with this one, but only 7 are recommended and supported.

You may remember the Forex overdrive with its very poor risk to reward ratio. I like this one from the team because it has a much better risk to reward ratio indeed. Heck for only $47 it probably is a no brainer!

FX FLASH PRO 2.0

Forex Growth Bot Josep Settings | Worth a Try?

Hi Guys, I have recently started to trade Forex Growth Bot on one of my accounts using "Josep" settings. These settings are from a Forex Forum member that has tested these and released them for the public to use.
Below are these settings:

FIFO=false;
ClosePreviousSessionOrders=2;
Assign_PT_and_ST=false;
InternalControl=true;
ManualTradeControl=false;
MaxTradesPerSideAllowed=99;
BotComment=”Forex Growth Bot M15″;
FastVolatilityBase=3; SlowVolatilityBase=60;
VolatilityFactor=3;
ProfitTarget=0.36;
StopLoss=0.17;
ProfitLossVolatilityBase=50;
SmartExit=false;
TrailTargetPips=0;
TrailPips=0;

The above settings are from the "advanced" version of FGB. But you can still trade some of these settings with the "basic" version. Below is what you can use for the "basic" settings

FastVolatilityBase=3; SlowVolatilityBase=60;VolatilityFactor=3; Smart Exit=False

With these "josep" settings the robot will not open as many trades so the draw down on your account will be lower. Thus we can use larger lot sizes to achieve the desired profits while still keeping draw down to a minimum. I recommend .01/500USD with these settings.

Below is a screen shot of my account. 

This is a small sample size but it is just to give you an idea of what to expect.

Forex 1000 Pips Rita Lasker | Did She Finally Get It Right?

Hi guys, here is yet another Forex EA from Rita Lasker. Here you will find the usual colorful webpage, but did she finally get it right with this one?

This EA appears to trade the Eur and Gbp on the H1 time frame. What I like about this one though compared to her other experts is that it follows Fibo retracements to close out trades. I should also mention that it is a trend following system as well.

RITA LASKER 1000 PIPS EA

"Ideally, Forex1000pips is custom-made for traders, who prefer to trade from time to time. It’s for those, who don’t “submerge” themselves fully in the business of trading. It’s perfect for those, for whom it’s not so important to get exceptionally high, but episodic earnings, but for whom it’s highly desirable to have a STABLE income that would systematically take place on a continuous basis."

The statement above was taken directly from her website. I am not really sure what she means by "those who trade from time to time" I want something that trades good ALL THE TIME!

Aside from this my other major gripe from the new EA is the lack of an account from the vendor. I am not surprised at this as the vendor has not done this with her countless other Forex products.

I don't know about you but I bet there is a good reason why there are never any account to follow from this vendor.

Update: 2-18-2013 EA is off to a great start check the statement below!

Note: this account is trading 3.00 lots on a 10,000 account which equates to about 30% Risk per transaction!

My Forex Growth Bot Review | Performance Last 2 Months

Hi guys, well I must say I am quite pleased with the performance of Forex Growth Bot over the past 2 months. My account is running at about 3% monthly gain with only 5% DD!. While 3% monthly gain is not that noteworthy, it IS impressive in relation to the drawdown. Take a look at my account below!

It is quite apparent that the trading results can be rather choppy and flat, then it really catches a strong market movement and rides it for a large pip gain.

I highly recommend this EA as it is a very sound strategy. I recommend .01 lots per 1000USD.

Regards

Forex Invest Bot | Bags 468 pips WOW

Hi guys, well this is certainly an eye opening performance from the Forex Invest Bot. Today the EA bagged 468 pips during a long trading session. The Euro has sank and the EA has taken full advantage of the sinking market.

FOREX INVEST BOT

Please take a look at the vendor account screen shot below!

The system is designed from the Forex Growth Bot EA Team. Boy I sure hope this kind of performance continues as I will be following the account very closely. It would be great to here from other users of this system what their experience has been with the EA?

Financial Freedom | Learn Elliott Wave Analysis

Whether you are trading stocks, indices, foreign exchange, bonds or commodities, you could use the Elliott Wave Principle to dramatically improve your results. It is no surprise, then, that professional traders and investors invariably use Elliott Wave analysis as a key decision making tool in their market activity. However, most people who try to learn the techniques by themselves often run into difficulty because the real world market movements appear to be different from the examples found in most standard reference books.

This book will give you a detailed “working” knowledge of the Wave Principle. Written in simple language, and with plenty of recent and real life examples, "Five Waves to Financial Freedom" will likely become your favorite reference book which you could use to quickly verify whether your own interpretation of the market fits in with the author's guidance. With its liberal use of cross-references, this book will enhance your understanding of the rules and guidelines that govern the Wave Principle. Furthermore, you could use the hundreds of examples available in the author’s website to support what you learn from this book. The techniques outlined in this book are the very same techniques that Ramki has successfully used for nearly 30 years.

Forbes has recently counted Ramki as one of the three excellent Elliott Wave Technical Analysts out there.


Five Waves to Financial Freedom: Learn Elliott Wave Analysis

Wallstreet Forex GBP Backtest | New Default Setting

Hi guys, as you may or may not know the Gbp default settings for Wallstreet forex robot have been slightly adjusted to stop loss 95 pips and take profit 50 pips. So the only change is the tighter stop loss.

I have run a backtest which includes 997 trades over a span of the last 3 years to see how it did.

Everything is default except:

1. I set Closeonlyonprofit=True
2. Friday close=true
3. risk=0.5%

Here are the results:

Bars in test 100172

Ticks modelled 43636071

Modelling quality 90.00%

Mismatched charts errors 0

Initial deposit 10000.00

Total net profit 3126.28

Gross profit 7815.36

Gross loss -4689.08

Profit factor 1.67

Expected payoff 3.14

Absolute drawdown 44.62

Maximal drawdown 235.27 (1.79%)

Relative drawdown 1.98% (214.14)

Total trades 997

Short positions (won %) 510 (93.14%)

Long positions (won %) 487 (90.97%)

Profit trades (% of total) 918 (92.08%)

Loss trades (% of total) 79 (7.92%)

Largest

profit trade 35.00

loss trade -66.50

Average

profit trade 8.51

loss trade -59.36

Maximum

consecutive wins (profit in money) 52 (401.17)

consecutive losses (loss in money) 2 (-133.00)

Maximal

consecutive profit (count of wins) 417.40 (50)

consecutive loss (count of losses) -133.00 (2)

Average

consecutive wins 13

consecutive losses 1

MyFxbook to release an autotrade feature

Hi guys, I heard it through the grapevine, Myfxbook is about to release a autotrade feature within a weeks time. Details at this time are scarce but  the service will most likely try to compete with zulutrade and signal trader to name a few.

Hopefully the service will be available to U.S. Citizens as signal trader does not support traders from the U.S. I believe zulutrade does support U.S. traders.

On their facebook page this will supposedly "revolutionize" the autotrading platform. I sure hope they make it widely accesible.

Myfxbook is a very popular 3rd party publishing site where traders can analyze their trading accounts, and other traders accounts.