FOREX GROWTH BOT - DEC 26

Hi all, hope everyone had a great holiday! Today I had 2 FGB trades that closed for a loss of approx. 59 pips total loss. The market had spiked up fast and then the market quickly went into correction mode. I was not surprised at these 2 losses as the market has not been trending as of late.

Let's hope the market calms down a bit after the holiday's are over.

FOREX STEAM - STEAMING UP THE PIPS!

Hi everyone, hope you are enjoying your holidays! I want to talk about a Forex system that has been around for quite some time now. This is called Forex Steam. Apparently from the webpage they have just released version 5.2. which now has a news filter!

The Facts:

>This trades the Eur/Usd
>Take profit is currently set at 10 pips
>Stop loss is set at 20 pips.
>Tries to follow the trend!
>The light version trades M5 and the normal version trades M30.

You get 4 licenses which can be used for either Demo or Live Accounts (these can be changed and updated at any time)

I saw this excerpt on the webpage.....very nice to see indeed

"Make sure not to trade on Holidays. Historically our EA’s have had difficulty in the trading period between December 16th to the 1st of January. We are hoping this year that our recent updates, including the news filter will thwart any potential losses. We advise all our users to take extra precaution and potentially suspend live trading."

"The strategy for Forex Steam is based on market matching. Which means the EA calculates the current trend and then attacks it looking for sharp entry points at the start of the trend and build upon this as it rises. With this in mind we recommend that you use DEFAULT settings. We will change the settings and email you updates when needed. If you feel comfortable enough with the EA we do urge you to test and tweak it to the best of your abilities."

The are a couple of things I really like about this EA. For one the system trades with a tight SL and a realistic  take profit. The risk to reward is not as good as say FGB(which is a different strategy altogether), but for a scalper it is quite good. Also the new version contains a news filter and should help keep DD to a minimum.

The vendor account was doing quite well but I could not verify if it was a demo account or a real money account.

The cost of this system is $117.99. This includes a licence for use on 4 accounts.

VISIT FOREX STEAM WEBPAGE

FOREX OVERDRIVE - OLDIE BUT GOODY?

Hi all, I have a Forex system for you today that has been around for a long time. This has been around longer than the FGB. I wanted to revisit this as many may have forgotten about it by now.


The Strategy runs on the 5 min. time frame for the Eur/Usd and the Gbp/Usd. The EA aims for profits in the 15-25 pip range. The problem with this system has always been the really large hard SL set at 325 pips from the opening of trade. Now most of the time you will not even see the SL hit. But all it takes is a couple back to back and all of a sudden you find yourself down 650 pips. Now you have to crawl out of this hole with the aforementioned 15-25 pip gains.

So I scoured the internet for a forward test for the Forex system. The best I could find was this one. This unfortunately stopped updating back in June 2010. But you can see what I mean about the poor risk to reward ratio. The account lost 25% gain in one trade hitting hard SL. There is an account on the vendor page but it stopped trading in Jan 2012.

Some of the highlights are listed below per vendor page:

• Customizable settings: Change Stop Loss, Take Profit, and Trailing Stop as Desired.
• No need for a huge minimum deposit! Start with as little as $150! (Forex Over Drive will work with any amount of money).
• Setup in less than 5 minutes!
• Designed to trade on 2 currency pairs!
• Works on the popular MetaTrader 4 Forex Platform
• 100% automated, hands free: requires absolutely no human intervention
• Protects your trading capital while providing a consistent income
• Requires no decision making whatsoever
• Has built-in money management feature to ensure safe trading
• Great for all traders, from novice to experienced
• No prior Forex experience or knowledge required
• Risk-free! 60-day money back guarantee included. We are that confident that this product will produce results.
• User friendly manual explaining how to use Forex Over Drive to gain maximum profit.
• Tested in ALL market conditions
• 24/7 Customer Support: Our response time is exceptionally fast.

It is my feeling that in order to avoid the high SL with this Forex robot, one must do extensive backtesting to find a hard SL that will not take away months of profits. I believe this system has potential if one was to "work" with the settings to find the most favorable trade settings (through backtesting)that would be comfortable to use.

VISIT FOREX OVERDRIVE

FOREX GROWTH BOT - DEC 19

Good day, well the FGB continues to trade well as of late. Today I have gained +216 pips on my account so far with 2 trades still open. For the month I am up +435 pips.

These market conditions have really proved to help the robot perform well as of late. Let's hope this kind of performance continues. Anybody else have these trades?

D-TRADER - COME TRADE WITH US?

Hi all, This one is a signal service. It is from the same folks that brought us IBT Auto. This is supposedly traded by a human professional trader while being executed by an EA.

Some of the highlights are:

> Trades EUR/USD
> A 100% price based strategy ( no lagging indicators or trendlines )
> Short term 'Day Trading' trade timeframe
> NO MARTINGALE & NO HEDGE TRADES

"D-Trader is an automated foreign exchange(FOREX) signal service for the Metatrader 4(MT4) trading platform. When running the D-Trader Expert Advisor(EA) software on your MT4 trading terminal our forex trades will be automatically be cloned and executed in real time into your MT4 forex account at your own specific risk settings. A live or demo Metatrader 4 forex account is required to use our service."

D-Trader is a manually traded system traded by a professional trader based in the US. The trading style is best classified as a trading approach in between scalping and mid term position trading. The system will only trade EURUSD. The strategy is a 100% price based meaning there are no lagging indicators such as moving averages or oscillators used. The goal of the system is to enter the market in the direction of the trend during percent based retracement market moves with a very short term profit target risk and time frame( same day ) Positions lasting longer than a day can happen with reduced risk( stoploss moved into profit).

There is a forward test, but I can not tell if it is a demo account or a live one. The cost is $100 per month and can be cancelled at any time.

VISIT DTRADER WEBPAGE

FOREX GROWTH BOT LIVE - DEC 18

Good day all, I have a basket of trades (4 open) with FGB. The market has been bullish for about a week now.

I am a little concerned as the market is very overbought. The bot has been performing well on a very popular broker I just started using. Contact me and I may reveal which broker I'm using. It seems I am getting more pips than the vendor's account, at least for now.

Is anyone else having success with the FGB? Feel free to let me know, I love to communicate with other forex traders!

One thing I have learned about this bot is, no matter how many losses you get in a row, it always seems to give it back to you! You just have to be a little patient.

JOKER EA - A LAUGHING MATTER?

Hi all, good day. This post is about the Joker EA. This Forex trading system runs on the Eur/Usd on the 5 minute time frame. The Joker EA sets a dynamic SL and TP based on volatility of the market at any given time. I really like EA's that set the TP and SL dynamically. I can think of another EA that does this, and it is one of my favorites.

The trading chart reminds me of the WSFR chart. Another great EA. I am guessing the trade entries are based on the EMA and volatility by the picture shown here.

"The best strategy we come up with is a breakdown strategy. Take profit and Stop loss are both dynamically adjusted according to market volatility. Open prices are being used, so you should get almost the same results on demo and live accounts. and, of course, a 100% backtest match."

"Used indicators: Bollinger Bands, ATR and Moving average, mixed with a price analysis algorithm. It uses open prices only, therefore it’s not spread dependent because it trades on M5."

Stop Loss triggers somewhere between 1 and 50 pips, but no more than 50 pips. Take Profit triggers between 1 and 35 pips.

Backtests are available on the webpage as well and are 90% modelling quality.

The cost of this appears to be $500. So a little more expensive than some other commercial EA's. Time will tell if this is worth the price. The refund policy is stated "according to reqnow refund policy, our refund policy is “60 days money back guarantee”. However, once refunded without a good reason, you can’t buy it again later."

I could not find any forward tests on the website at time of writing. Hopefully the vendor will set one up soon!

Edit May 2013: Apparently this EA now is up to V3.6 which incorporates 3 separate scalping strategies.