Steadywinner EA | Alternative Pairs?

Good day, you probably have heard of the Steadywinner EA for the H1 timeframe Eur/Usd right? I ran a quick BT with this EA on the Gbp/Usd and was pleasantly surprised.

This just proves there is a sound strategy here and possibly deserves a better look. Let's take a look at the BT report shall we.

One will note the profit factor and the profitability are quite high for this pair. Yes there are rough patches but some would consider this good enough to trade, including myself.

I also conducted a quick BT on the Aud/Usd pair and was also surprised. This BT was not as good as the Gbp/Usd/ with a profit factor around 1.62 and larger DD indeed.

In the above graph you will note it goes through these mini DD periods and comes out of them nicely. I know this is ONLY a BT, but still is noteworthy. Also this is a relatively short BT.

The vendor is currently working on a version 6 as we speak. I Will have a review of that if I can get my hands on it!

NOTE: This is NOT a cherry picked BT. I was trying to see how it would perform in the current market.

STEADYWINNER EA

Trading With Large Capital? | Look No Further!

Hi everyone. If I had $100k to trade with in a live account I would most certainly trade the "eur33+Gbp30" settings together. These are the newer low DD settings provided by WSFR. If you study THIS ACCOUNT you will notice that it rarely has a losing month.

OK so we can see it currently returns about 3% monthly, which some may say is not much. But if you are trading with 100K then this equates to about $3000 a month! Now this is an average of course but you get the idea.

Very nice results indeed. It is probably noteworthy that many are not trading these settings with low start up capital. Conversely, If you are trading this with $1k, about 3% would equate to $30 a month. Still not bad but we wouldn't break any banks with this return right?

This comparison shows you how important leverage is when trading forex. It can make a huge difference in your returns! Happy Trading!

WSFR Eur33+Gbp30

MartiStoch EA | Stochastic Gambling?

Good day, here is an interesting EA that IS a martingale, which I don't normally like. But I wanted to discuss this one because it is based on the Stochastic indicator. This indicator can be used for successful manual trading. So does this translate to successful martingale style basket trading?

The vendor has provided us with a BT that has over 5000 trades. Remember that this type of strategy is a "hold-and-hope" style basket trader. The fact that it survived this BT is saying some good things indeed.

You will note 5538 trades in just over 3 years trades. Over 6% monthly gain with a max. DD of around 46.6%.

According to the vendor this EA uses the Stochastic indicator (and some others) for its entries on the H1 timeframe. This apparently filters out false signals and makes this a safer trading sytem when compared to other martingale systems.

The vendor has a forward test running that is worthy of note:

This account has not had a losing month since its inception in Sept. 2012. It is running at a 30% monthly clip with around 34% max DD. This is not surprising to me as the markets have not been trending strongly for quite some time now.

While I cannot recommend any type of strategy like this, if you have a higher risk appetite and a ton of leverage to play around with, this might appeal to you. Please let me know if you are going to run this and share your experience with us.

Fx Builder | Construct Your Own Expert Advisor

Good day all. Here is a great website that has many different options if you feel the need to tweak your own expert advisor. The name of the site is Fx Builder. Apparently they have 3 different "types" of packages based on 3 different strategy "genres". The first package is based on indicators, which most of today's expert advisor are based on some type of indicator.

The next package is based on "bar trading" strategies. These types of strategies open a trade at bar open and close a trade at bar close. An example of a bar trading strategy would be FGB. This package is also include with a suite of indicators as well and includes everything found in the first version.

The last package includes everything from the first 2 packages with the addition of a "grid" trading strategy AND the ability to sell your creation on their website store.

There is a chart that describes some of these advantages below:

There is a backtest section that shows various tests performed solely off the core strategies and that can be viewed here

There is also a demo version of the first package so we can get a feel for how to tweak these settings. Please click here for the demo version

There are live forward test to follow and I have included the first package here for convenience.

FX BUILDER WEBSITE

Omega Trend EA | Performance Update May 2013

Good Day, today I will discuss an updated performance report on the Omega Trend EA. The below graph illustrates performance of trading 3 currency pairs by the vendor on a demo account. This account is trading the Eur/Usd, Eur/Jpy, and the Gbp/Usd. You should notice the high Drawdown for a small gain.

But if you look a little closer you will notice that most of the DD has come from the Gbp/Usd, and the Eur/Jpy. When we look at the performance of the Eur/Usd alone, it paints an entirely different picture indeed. See below image:

Above you will notice that this pair is running at a very nice 7.37% monthly rate with a relatively small 21.82% DD. All this while most trend trading systems are in some serious DD right now. With this being said I DO recommend trading this sytem with the Eur/Usd pair in the future. It has handled these recent wild markets rather well. Happy Trading!

DOWNLOAD OMEGA TREND

Top Forex Systems (EA) | Performance May 20,2013

Good Day, as we look at the performance of some of the most popular trading systems, we can quickly see that volatility EA's are still struggling in today's markets.

Surprisingly scalpers, or strategies that are in and out of the market quicker; with less exposure, have been more successful as of late. This is probably due to the market and its tendency to show a lot of price correction lately. This type of market does not favor trend following strategies as a whole.

Let's take a look at the performance chart below:

We can see WSFR continues to "sniff" out opportunities in these tough markets. Also He-Spider have been performing well because of its entries based on reversals.

Let's see what strategies perform well this upcoming week. Stay tuned.

Metatrader 4 (MT4) Tips | Expert Advisor Not Trading

Hi Guys, I have a solution for those trying to trade a Forex robot aka expert advisor that will not trade for you. Assuming you have "allow live trading" checked in the options pull down menu along with "enable expert advisors". If you are still not getting live automatic trading, there are a couple of other things we need to check.

We can check the experts tab at the bottom left tab to see what the expert is trying to do. If you see something like "expert X sell not opened" "trade is disabled; then the chart you are using is probably set-up for demo trading only. To verify this you can "right" click on the chart the expert is attached to and you should see an option for "trading". If you do not follow these below steps.

1. Remove all experts
2. Close all open charts
3. Open Market Watch
4. Right click in market watch and select "hide all"
5. Now right click and select "show all"
6. Right click on the desired chart to trade and left click "chart window"



Now if you right click on the chart you should see a "trading" option above the expert advisor selection.

This will allow the expert to take a trade. Basically if you right click on the chart and you don't see a trading option for you to trade, the expert can't trade as well!

I hope this has saved some headache and frustration for our fellow traders. Happy Trading!