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.
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.
After some thorough backtesting and forward testing, with different settings, I have come to realize that my Expert Advisor Sand does not fit my trading style.
So far it has created the biggest profit, but at what cost? For it to function well, the stop-loss needs to be huge and I don’t want to get into Martingale systems.
It will get replaced by a more simple indicator that is less risky, called A1. I will present it in my next update.
I am also currently developing another version of Thunder that might provide higher profit.
I have been getting a lot of positive emails (thank you) and emails full of questions as well, so I thought it would be fair to post here since some of the questions are similar.
1. What is an Expert Advisor?
A: I created a section just for that. You can go click on the link at the top called What is Currency Trading (Forex) ?, it should answer all your questions.
2. Some of your expert advisors seem to have similar names to widely available expert advisors. Do you just test free ones?
A: Some expert advisors are indeed based on widely available expert advisors, but I always modify the code to make it reflect… Read More…
A conference call I had today got canceled so I decided I could take the time to update with the February 2010 results. I am introducing a new robot as well, we now have our total of 8 robots.
H4: Trades on the GBP/JPY on the 4 hours time period and identify trends with a close trailing stop-loss. It is a more conservative robot.
First of all, I will introduce the new 3 robots that I am testing starting this year. I know I said there would be 4 on my last post but I still need to work on the 4th one.
Thunder: Plain and simple EUR/GBP scalper that trades during the asian session. Sand: Very agressive expert advisor that detects trends using a combination of Moving Averages and MACD patterns. Trades the USD/JPY mainly. FxUltra: Detects tends on the EUR/USD using a very small timeframe, although I wouldn’t consider it a scalper.. Testing on a 4:1 Stoploss/Profit level ratio.
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