Remora EA | New EA Due To Release Jan 2014!

Hi everyone!, this new EA is due to come out around January 2014. I am writing about this one prior to its releases because I believe it looks promising

"Follow the big fish"

This is the slogan for this EA, and it describes the strategy as a trend following EA. It appears to operate on the EURUSD 15 min. time frame. It opens a position when the market establishes a true direction.

It has 2 sub-strategy:

- Main strategy has a 15 pips hard TP with 45 pips hard SL, equipped with dynamic SL if the market doesn't go in the appropriate direction. This strategy contains the 90% of the trades.

- Small strategy needs a smoother market movement and has 6 pips hard TP with 22 pips hard SL. This strategy contains the 10% of the trades.

Lot size is based on equity AND market movement. This tells me that the risk will vary based on price action.

What about a LIVE forward account?

Yup we can follow this account below;

What about a backtest?

Time: 2003.05.05 - 2013.10.01

Fix spread: 1 pip

Starting Balance: 10,000

Finish Balance: 2,633,039.06

Maximal Drawdown: 26.58%

Profit factor: 1.63

Total trades: 1645

Longs won: 76.09%

Shorts won: 77.98%

See more here

The backtest is a tick data backtest as well. Let's see how the above LIVE account pans out over the next few weeks to determine its worth. Face value tells me this one has a lot of potential. At time of writing it is unclear what the cost will be. Also I cannot determine how many accounts we can trade with this.