H4 took a beating, very dissapointing. The only two robots that I trust now are AFG and Dragon. Gator has a big stop-loss so I don’t really feel comfortable with it despite the good results.
These are the results from May 2010. I am happy to announce that I will be putting money in my FxOpen account in June and will start trading LIVE in June or July. I think 6 months is enough to see if a robot is profitable or not. But I will still continue to test them on a demo account, mainly to compare.
I had technical difficulties with H4 which I believe is why it got a loss. Dragon GBP/USD is not very profitable, it has been creating profit on and off. I might consider dropping it. I still have a feeling that ACG is not my kind of robot, but we will see. AFG made huge progress. I’m disappointed in the loss from Dragon EUR/USD. I guess it wasn’t the month for Dragon. Gator is performing extremely well but also has a stop-loss of 500, so we will see. Tom made me smile with that big recovery.
The only 2 robots I would feel comfortable putting live are AFG and H4 at the moment. Gator is very profitable but hasn’t been tested long enough. The other ones are too unstable. On the other hand, AFG only had 1 month out of 7 where there was a loss, so I’m very confident in it. It seems like an awesome scalper. H4 also only had 1 month with a loss, but only has been tested for 4 months. The results are fantastic though and I like the way it trades.
ACG had a big loss. AFG had a huge gain, which I am really happy about. Dragon struggled with FXDD as well and I will drop the EUR/GBP version as it is obviously not profitable. H4 recovered, I have good confidence in this robot. Tom also recovered, and I’m still working on not making it trade on Fridays, because this is where all the losses come from because of the spike from the week-ends. Gator had a big loss, which is normal for a robot with a 500 pips stop-loss. It either make huge gains or huge losses. Overall, my FxOpen account is doing better than my FXDD account.
That’s it everyone, have a wonderful morning/afternoon/evening (depending where you are in the world) This is why I love the Internet, hehe.
I just started this month to trade with FXDD because I’m having problem depositing with Alertpay in my FxOpen account, and I thought I’d try both. Let’s compare the results
I am also introducing two new robots:
Tom: EUR/GBP scalper, replacing Thunder. Gator: Short-term trend analyzer the Alligator indicator, with a little tweak to make it more powerful. Runs on the EUR/USD with a stop-loss of 500 and a profit taking of 30.
Good performance from pretty much every robot. First lost for Dragon EUR/USD. Dragon GBP/USD is not picking up much, I might consider dropping it. H4 wins again! Tom is not performing well for now, because I keep tweaking the settings. I will try to be more careful. Gator is doing good but with a stop-loss of 500 you never know what might happen.
Dragon GBP/USD doesn’t seem to be working so I will replace it for EUR/GBP next month. H4 is not working well at all with FXDD and Tom is still under progress. Gator again produces good results and ACG and AFG have a good start. Dragon EUR/USD is about the same as FxOpen.
First of all, I just wanted to mention that last year, 2009, was a crazy year for my Forex robots. I was testing too many currencies at the same time with robots that were way too risky, which is why I won’t even bother with quarterly results for that year.
Also, I have some good news. You probably all know by now that I have been only testing with FxOpen, which is a good broker. But I will also test with FXDD now at the same time. I will be able to compare the results and I believe they are both the best brokers to test with. A review for FXDD will come soon.
At this point, the only robots I would consider putting live would be AFG, Dragon EUR/USD and H4. I definately need more testing, especially on two platforms. Live trading might start on Q3, but I might consider it before… I will keep you posted.
Today I decided to drop two robots: Thunder and FxUltra. Thunder opens way too many trades (100 this month!) and is just not profitable and FxUltra has been dissapointing since the moment I first started testing it.
On a positive note, I will be replacing them with two new robots that, so far, I have seen incredible results from.
I am also soon going to start testing my robots on two different brokers: FxOpen (which I use now) and FXDD.
Terrific performance from H4 again. Dragon EUR/USD keeps impressing me but doesn’t seem to be performing that well on the GBP/USD. I am considering trying it out on the EUR/GBP instead. As usual, Thunder and FxUltra are providing very poor results and like I said above I will drop them soon. AFG seems stable and ACG is coming back from its loss.
My trader friends know that I love trading with technical analysis. But lately I have been interested in trading with pure price action, also called a “naked chart”.
I have learned a new strategy called the 1-2-3 strategy. I use a variance with Fibonacci levels.
How does it work?
To enter a short (sell) trade, you just wait until the price goes down and then goes back up, and then goes back down again.
To enter a long (buy) trade, you wait until the price goes up and then goes back down, and moves back up again.
1. It’s important that Point 3 is lower than Point 1 in a short (sell) trade, or higher than Point 1 in a long (buy) trade.
2. Enter the trade once the price hits Point 2.
3. Using the Fibonacci levels, wait until the price hits the first level then move your stop-loss to that level. You now have a guaranteed profit. If it goes further, when it touches the second level move your stop-loss to that level.
4. You’ll take your profit once the price retraces back to that Fibonacci level.
It’s usually good to put your initial Stop-Loss at Point 3 in case the market whipsaw.
You can see a few examples in the picture below. With that technique, the potential profit would have been $812, by only risking $100 per trade, in about 2 months.
This is why I love the Internet, hehe.
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