Comments from mkeys :Sure mkeys. Before I get to Funnel, I would like to give my further thoughts on the Forex Tracer expert advisor program.
Thanks! This is really helpful. Most sites overhype EAs or go to the other extreme and say they're all scams. It's nice to see the real-time performance comparison. One request: could you track Forex Funnel? It appears to be from the same folks who sell Tracer.
From looking at both sites (Tracer and Funnel), the Funnel's backtest looks better. It covers a much longer period and has a smaller drawdown. I've heard its real-time performance has been better, too, but can't confirm this.
From what i've observed so far, Forex Tracer appears to be a perfect expert advisor program to trade the Euro if you are operating from a longer time-frame perspective.
From the backtest results (as seen in the homepage), it has successfully 'traced' the EUR/USD recurrent breakout pattern (thanks hector for the chart) over the last two years. The last run-up took place in Jan - Apr 2008 which saw the price rocketed from 1.5000 to 1.6000. As a result, the EA has pocketed over 1000 pips profit during this run-up move.
And since then, the EUR/USD pair has been ranging sideways for about 2 -3 months. And thus, I am yet to see the strong performance as promised by the Tracer program. The program is probably ready for the next another significant 1000-pip move. Unfortunately, no one for sure knows when this is going to happen.
Back to the Forex Funnel EA - from its backtest results, the system appears to do well over the last 4 years consistently trading the USD/JPY market on 1-Hour timeframe. Like Forex Tracer, I will be investigating its performance in details and tracking its proftable trading pattern in the upcoming posts.
