FOREX REVIEWS

A few weeks ago, the new version of Doubleplay, which is version 4.5, was made available for download to all Doubleplay customers. I received the new program with both excitement and a little bit of concern as Doubleplay's money managment system was changed for a supposedly better one. Backtesting results of the new version, available at halcyonfx.com (which is the developer's website), show the expert advisor being tested on the GBP/JPY pair for a period of 2 years. This backtests somehow increased my concerns. Even though the equity curve does seem much cleaner than before, with I have to say, increased profitability, there is an obscure risk factor surrounding this new money management system. The system basically builds up position size as losses are incremented, which clearly makes recovery from losses much faster. But I cannot help to ask myself, what if the expert suffers too many continuous losses ? Will the expert drive the account to a margin call ? The tests did show...

First of all let me apologize for the diminished amount of posts I have published for the past month. I have been very busy with other projects so I haven't taken much time to write articles, on the other hand, I don't have many experts to review as I currently have only 2 in forward testing. Now to the God's Gift expert advisor results... I have to say, I like this expert advisor a little bit more every day that I see it trade. It caught twelve profitable trades in a row , over a little bit less than two months. It has shown great accuracy with it's trades, only risking a moderate amount of pips (70) on each trade. The ea attained it's first loss yesterday when it hit a stoploss on the GBP/USD after taking a dramatically wrong sell order just before 5 consecutive positive hours for the pound. I have to say, I am in part relieved by the expert starting to take some loses, I really want to see if the expert can live up to it's back testing results and provide a...

My objective throughout this past few months has undoubtedly been the finding of a consistently profitable expert advisor with small draw down and a good risk to reward ratio. I have stated many times that I would settle for a 50% yearly profit with a 10 % maximal draw down and an open draw down that never exceeded 2%. That is a lot to ask for, if you ask an experienced trader, ea programmer, etc. So after this much time doing forward testing, back testing and looking closely at the trading method of various commercial expert advisors. I have to say I truly recommend... Well, I really don't recommend any of them. This could have been the expected result from the beginning, but the sad truth is, I really cannot, on good faith, recommend to any of you any of the experts, free or commercial, I have tested so far. Here is a little overview on the whys, for each of the experts. Take this comments with a lot of seriousness and remember that it is your money that is being risked in live...

I guess many of you have noticed that I stopped forward testing many of the experts I had on my vps starting this year. The main reason is that they showed me a substantially negative behavior that made me change my opinion and in consequence, consider them not worth testing anymore. Because of this, I am actively looking for some expert advisors to test, free or commercial. I have always been interested on the Shark EA by http://forexeasystems.com/ which is the commercial ea I know with the most extensive forward testing on record (by the seller). I would like to know if any of you have tried this expert, what your results and opinion are and if you would like me to review the expert, if you think it is worth a try. I think it is but then I don't know anyone who has actually traded it. Well, I thank you again, I appreciate your feedback ! Please leave a comment with your opinion ! An updated review of my opinions about this trading system and my experiences trading it through 200...

I was very reluctant about writing a review on God's Gift right now. The reason is that the results up until now could be misleading to some people and could make them believe this is the holy grail. I will then try to tell you the results as objectively as I can ( cause I do feel a little bit of excitement myself about this ea) . As you know, I always try to have my opinions as unbiased as possible although there is always some bias coming from my own expectations on the experts (Impossible to evade as a human, I think). For starters, this ea has had an amazing month. Never in the large amount of forward testing I have seen had I seen such a clean record. God's Gift has managed a perfect month. Absolutely no draw down, yet a hard stop and a trailing stop always in place. Eight wins in a row with an incredible capacity to pinpoint short term market direction. I would say, I hate this ea because I have not seen it lose any money. When you are testing an ea you have to see it win...

I have spent a lot of time trying to find a good expert advisor. I have searched the ins and outs of the internet, I have spoken to other reviewers, programmers, creators, etc. I have seen the "turn 100 dollars into 5 million" promises, the flash, the whistles, I have seen a good deal of what the automated trading market has to offer regarding forex expert advisors. But I have, not even once, found an expert advisor that kept it's promises. Non of the commercial experts delivered exactly what they promised. Some of them were not profitable, some of them had larger draw downs than what they said, some of them exaggerated their risk to reward ratio. All of them had something untrue about them. Making a profitable expert advisor is no hard task. Don't get me wrong, it is being profitable in the long term that is difficult. I can program 10 different expert advisors, each based on a different set of rules and I can guarantee that at least one of the ten will be profitable...

As I had feared, the expert advisor portfolio we had been testing for the past two months didn't leave up to our expectations . The experts accumulated an abnormally high 42% draw down this week . The main reason why this happened was an incredibly horrible losing rally shown by the Ichimoku5 expert. Against all the things I would consider logical, this expert advisor sold the usd/jpy all the way up on an uptrend. It got several, almost 10, consecutive stop loss hits. My final words about this expert advisor portfolio is that it did just about as how 99% of us would have expected . Even though we may have had our hopes up sometime in the past, the expert revealed one of the many absolute truths in the forex market. Past records are no indicative of future results . But I bet that any person with an ea who has, sometime in the past, forward tested profitably for 2, 4 or more months will have no problem in selling it to the willingly believing. So beware ! If you want to look at th...