Hello Lloyd,
Your blog site has helped me in a great deal to understand how Forex market works and forex software.
I'm a three-month forex beginner who has studied the market by myself and has practiced on a demo account. I have lately started to think to purchase forex software and give it a shot. After I did my research, my candidate for the software narrowed down to either Forex Autopilot or Forex Killer. However, late last week, I happened to discover a new software called Forex Tracer.
The reason I'm mentioning this new software is that they show the same format as your Stratefy Tester Report of Forex Autopilot. I've never seen such a report from other software sales letters. Forex Tracer's report started from June 30, 2006 thru May 23, 2008. Their winning ratio is 94% and the modeling quality is 90%. The software looks very attractive to me
If possible, would you take a look at Tracer's page and let me know about your opinion about the software? I'm thinking if it's worth a try or better to buy Forex Autopilot.
Forex Tracer is, of course, another Expert Advisor script written for the purpose of automated trading in the Metatrader platform. Since I am a keen user of expert advisor systems and a developer of my own EA system, I would also like to test this EA myself. I believe I did a good job on reviewing and tracking the progress of the Forex Autopilot so far.
Could this new Forex Tracer be the third profitable EA systems after Bogie and Autopilot? We will soon find out.
p.s. Thanks Kotaro for the above email. You just set me up a new expert advisor trading task. I do hope it is profitable as claimed. You and my readers will probably get the first-hand update regarding the forward test results of this new Tracer EA.
p.s.2 I wish to keep everyone updated. I received another reader's email with a comment from someone who is currently trialling the Tracer EA: "Overall the majority of trades were positive this week, but there was one trade that almost wiped out my demo account. I will test more and let you know if it turns out positive. It may be excellent however it certainly needs to be used with caution." Thanks for the heads-up and I'll certainly keep an eye on the system drawdown.
p.s.3 Profits vs. Drawdowns for Bogie, FAPS and Tracer EAs
13 comments:
Lloyd,
I was in awe of you. I didn't expect that you were actually going to buy Forex Tracer, test it and share its performance with us. That was far beyond my expectation.
I really appreciate for your kindness and work.
Kotaro
Hi Lloyd,
I discovered your blog recently, and I want to ask, so far what EA do you consider to be the most profitable?
I'm forward testing the Autopilot EA and it has given me positive results, but also some large drawdowns, what are your recomended settings on it?
PS: I recommend you to take a look on these EA's, it seems that this company is very focused on making good ones (unfortunately I haven't tested them):
http://blog.iticsoftware.com/2008/05/28/metatrader-expert-advisors-portfolio.aspx
Hi Llyod,
First, many thanks for your site. Its been very helpful to me as I am looking at several EAs and running them on my demo account.
I'd agree with your reader's comments regarding Forex Autopiot and Forex Killler.
I would also consider the just released Bogie NN V8. I have been running it since June 2 on my demo. Quick results as follows:
No of trades: 8
Wins: 7
Loss: 1
Lot sizes: 0.2 - 0.6
Biggest profit: $906
Bigget loss: -$54
Total Net profit: $2054
Its doing roughly about 1-2 trades per day.
I am also running Forex Autopilot (FAPS) on the same platform simultaneously. Been running FAPS since May 19. FAPS winning rate is an impressive 80%. Unlike Bogie, FAPS tends to do about 2-3 trades totalling 60-70pips per day, with clear take profit = 200 and trailing stop =500.
After running both FAPS and Bogie for about 4 weeks (Bogie since June 2) my demo has grown from $5000k to about $9200K. Could have reached about $11000+ if I hadnt been been too smart by executing manual tail-gating trades. Not bad I think for 4 weeks demo.
I plan to demo Forex Killer over the next 3-4 weeks before going live sometime in early July.
Hope this helps your readers.
Cheers.
Abe Bakar
Hi Lloyd
Can you recommend a decent metatarder broker ?
I have looking around for reputable broker. I'm currently running a metatrader demo through forex.com.
The service is so so and having read reviews of broking companies (http://all-forex-systems.blogspot.com)and getting scary comments about practically all brokers on poor service, accounts being cancelled when you start winning and difficulty in getting withdrawls etc etc... the choice seeems like buying a lottery and wishing for the best.
Appreciate your thoughts and recmmendation/s.
Cheers.
Abe
Hi all,
Thanks for your comments. I will report the outcome of tracer EA once I analysed the results. Meanwhile, I couldn't agree more with the potentials of FAPS and Bogie. But I remain concerned with the FAPS large drawdowns. I use alpari UK and haven't experienced any wild spread for some time.
I have used Forex Tracer for about 3 days, which is too early to determine much except that I have a 5k demo at 7500. No losses so far but big drawdowns. You can adjust the sl, tp, by using the properties section of EA. I'll update as I get more time in with FT.
Stan
I purchased Forex Autopilot (FAPS) early last week. I got $5,000 virtual money from the broker recommended by FAPS.
I changed only one parameter, which was lot size. I changed it to 1 from 10.
I have received three signals so far. From the first buy and sell, I earned 200 pips. Then, I got the third signal (buy) on early 6/12. Since then, my account has been losing $1386 USD. I haven't received a sell signal yet.
Kote
Hello everyone.
Here is the update of my trading performance since the last post. As I told you in the last email, I was losing about $1,350. Then, FAPS let it run the robot until the 17th. The market eventually went up, and FAPS gave a sell signal. I earned another 200 pips from this trade.
Hi,
FAPS today released an upgrade. Using the magic number feature it can now work with other EAs and manual trades.
This will now alloe me to run both Bogie (H1) and FAPS (M1) on the same meta platform.
Cheers. Abe.
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