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Forex Expert Advisor Generator

October 10, 2010 By Raj 3 Comments

Forex Expert Generator is a tool with which you can generate your own expert advisor for your strategy. You need to have minimum MQL4 programming knowledge to use this tool. MQL4 is the programming language that is used to write expert advisors.

This tool is not a free tool and it costs some money. There are different licenses you can buy for this tool. The following are the licenses available for this.

Forex Expert Advisor Generator License Types

Forex Expert Advisor Generator License Types

If you are a single developer and would like to view the MQL4 code also for the expert advisor you generated, you need to buy professional edition single license which is $139. If you buy the standard edition you cannot view the code.

I bought the professional edition single license and after developing my expert advisor I generally copy the code and paste it in the MQL 4 editor and save it with some name, compile it and backtest it. This is a very handy tool as you don’t really need to write the code but use the blocks on the left hand side and create your expert advisor. Once you compile it if there any errors you can see those errors under the “Compilation” tab at the bottom. If there are no errors you can view the code under the tab “Source Code”.

The following is the picture of Forex Expert Generator. It’s really a nice tool if you have a great strategy and want to automate it. You can get it at http://www.forexgenerator.com/

Forex Expert Advisor Generator

Forex Expert Advisor Generator

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Forex Strategy Builder User Interface

October 7, 2010 By Raj Leave a Comment

In this article I will explain you the Forex Strategy Builder interface and important functions. After you install Forex Strategy Builder and open it you will see the following.

Forex Strategy Builder

Forex Strategy Builder

We can divide this mainly into the following.

1)      Top portion

2)      Left Portion

3)      Middle Portion

4)      Right Portion

5)      Bottom Portion

Top Portion: Top portion consists of the menu items like File, Edit etc. I am not going to more details about this as this article will show you only how to automate your strategy.

Left Portion: Left portion shows you the currency pair and the time frame for which you are trying to generate a strategy, market statistics and the Indicator Chart for your strategy.

Initially when you open Forex Strategy Builder shows you the currency pair EURUSD and 1 day time frame. If you want to develop a strategy for GBPUSD currency pair and for 1 hr time frame change it GBPUSD and change the time frame to 1 hr.

Market statistics shows you the symbol, period, number of bars available etc. But I don’t worry much about the market statistics.

The indicator chart shows you the chart as per your strategy. Let’s say you are using Bollinger bands it shows you that on the chart.

Forex Strategy Builder Left Portion

Forex Strategy Builder Left Portion

Middle Portion: Middle portion is an important one using which you can automate your strategy, view the strategy you developed in an html document, optimize your strategy etc. It gives you different options like setting the stop loss, take profit, opening logic, closing logic etc. This is the portion you use to automate your strategy.

It also gives you the following options.

Overview: You can generate an html file which describes your strategy and shows different things like profit etc.

Generator: I don’t know much about this at this point but I will let you know soon what it is.

Optimizer: Optimizer will optimize your strategy.

Right Portion: Right portion will show you different statistics like initial account balance, final account balance etc. This also gives you a graph which shows you whether you are making money or losing money using this strategy.

Forex Strategy Builder Middle Portion

Forex Strategy Builder Middle Portion

Bottom Portion: Bottom portion will show you the backtested orders and different things like profit or loss, balance, equity etc.

Forex Strategy Builder Bottom Portion

Forex Strategy Builder Bottom Portion

In the next article I will show you how you automate your strategy using Forex Strategy Builder.

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Automate Your Forex Strategies Easily

October 3, 2010 By Raj Leave a Comment

Forex Strategy Builder and Trader:

You might have a particular forex strategy that you have built for yourself and manually trading following your strategy. You may want to have an expert advisor or a robot of your strategy but you might not have programming knowledge at all or you might not know the language specific to develop an expert advisor (just like me).  This is where you can use the Forex Strategy Builder.

Forex Strategy Builder is a fantastic tool I got recently using which you can easily automate your trading strategy. Moreover this is a free tool. One of the very useful features of this tool is optimization. You can easily optimize your strategy and find how you can benefit more using your strategy. Moreover this is very fast. If you are an expert advisor developer and once you code your strategy it takes a lot of time to optimize your strategy. But using Forex Strategy Builder it is very fast to optimize and get your results.

I think this is a new tool on net as some of the things I am not able to do using this, like using multiple timeframes for automating a strategy, different entry conditions for long and short positions etc. I might be wrong as I am new to this tool but I am still trying to find out those kinds of things. One more thing is you cannot generate an expert advisor ex4 file using this, to run directly on metatrader. But the developers of Forex Strategy Builder are providing one more tool also which is called Forex Strategy Trader, using which you can connect to your metatrader and put your strategies for live trading or demo trading to see how your automated strategy is working. Totally two tools are provided. Both of them are completely free.

Forex Strategy Builder – Automate your strategy (Free Tool)

Forex Strategy Trader – Connect to metatrader and execute your automated strategy (Also a free toll).

The following are the screenshots of Forex Strategy Builder and Forex Strategy Trader.

Forex Strategy Builder:

Forex Strategy Builder

Forex Strategy Builder

The above picture shows you one of the strategies I have automated and optimized. This is very cool.

Forex Strategy Trader:

Forex Strategy Trader

Forex Strategy Trader

The above picture shows you Forex Strategy Trader connected to Metatrader and in action.

I am going to write a few more articles on Forex Strategy Developer and Forex Strategy Trader and will tell more about how you can automate your strategies and how you can use Forex Strategy Trader to connect to Metatrader and test your automated strategies.

By the way, you can get these tools for free at

http://forexsb.com

Thanks to the developers of these fantastic tools.

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Exciting forex expert advisors competition

January 26, 2010 By Raj Leave a Comment

Any one heard of this competition? A competition between the authors of non-commercial expert advisors is going on at http://www.forex-robot-world-cup.com/. Non commecial expert advisors mean expert advisors that are not being sold or marketed anywhere but are solely used by their developers.

The first prize is $100,000. The competition has two phases. The first phase is a screening phase and the second phase is live (real money) trading phase.

In the screening phase 329 authors participated out of which 10 expert advisors are selected for live trading phase. In the screening phase around 320 expert advisors are taken out as they did not do well in a short period of time which is 2 months.

Now there are only 10 expert advisors are left which are already trading on live accounts. You can see the results of the expert advisors on the site. One expert advisor is trading good which made around 160% profit with in the 11 days.

I am not sure if this competion is real or not but it is fun. Go and check it.

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Forex Bull Expert Advisor – Good Or Bad?

January 11, 2010 By Raj 2 Comments

Recently I bought another expert advisor called “Forex Bull” (www.forexbulltrader.com). I was impressed by the backtested results and the live results they are providing on their website and it made me bought their expert advisor. The backtested results were showing an average of 5 trades per day. If it is good a expert advisor, I can make an average of $100 per day ($20 per trade per 1 standard lot. Minimum I am expecting is 2 pips profit per trade). So I bought this expert advisor.

This expert advisor is a scalping expert advisor and this is for EURGBP currency pair. The cost of this expert advisor is $99. After I paid this I got the download link and downloaded this expert advisor. The author(s) of this expert advisor is(are) providing only the expert advisor file but they are not providing any documentation file like a pdf file which generally describes how to install the expert advisor, the settings for the expert advisor etc. Geneally other expert advisor provide these kind of support files. But anyhow, since I already have an experience of using some expert advisors I installed it correctly.

The first thing I do whenever I buy any expert advisor is backtesting the expert advisor. I tried to backtest it. This expert advisor has two important settings on it called “BeginTradingHour” and “EndTradingHour” where we have to enter the GMT Offset setting for these. If the author provides any support document which explains how to set these values that would be very useful. Anyhow I did not change these settings since it was the first time I was testing.

I started the testing this for 2009 year but it was not opening any trades. I was confused a little first and then tried to find out what was happening. I checked it here and there and then I checked in the “Journal” tab. It is giving the error “ERROR: No testing possible. This expert advisor needs live data for calculations”. I really got pissed off by seeing this error. It means that the expert advisor can not be backtested. How can anyone use any expert advisor with out backtesting it. Any expert advisor should be backtested to find out for which parameters it works good and this is not allowing me to do that. This is really bad.

So I decided to send an email to them. On the support page of the website they mentioned that they provide 24/7 support. The following is what is mentioned on the support page of their website.

Our support will be available 24/7. If you don’t receive an answer after 48 hours, please try to contact us again via email or use the Clickbank Support Form.

Please check your spam folders too.

If you don’t get any answer, please try to contact us via twitter or Facebook.

English Support: support@forexbulltrader.com

German Support: support-de@forexbulltrader.com

Test our support

Test our support and send a testmail to support@forexbulltrader.com. Just ask any question you want to know and test our support response times.

I bought this expert advisor on 1/4/2010 and on the same day I sent the email to them. The following is the email I sent to support@forexbulltrader.com.

Subject: Backtesting your expert advisor

Hi,

I have bought the expert advisor for EURGBP from your site and the following are my purchase details.

——————————————————————————–
PURCHASE INFORMATION

Order Number:        ********
Order Date:          01/04/2010 8:36 PM PST
Customer Name:       ********************* ********
Customer Email:      ************************
Product:             Forex Bull Evolution VI Limited Edition
Product ID:          400
Vendor’s Site:       http://www.forexbulltrader.com
——————————————————————————–

I would like to back test this expert advisor but when I try to back test, it is not working. In the journal tab it is showing the message “EURGBP,M5: ERROR: No testing possible. This expert advisor needs live data for calcualtions.”. I have all the data and everything for to test this.

Does the error mean that I can not backtest this expert advisor at all? Since this expert advisor needs GMT Offset timings, I have to backtest it. Can you please tell me what I should do to back test this expert advisor?

Thank you

I did not get any reply from them even after 48 hours. I waited for 3 days and sent the same email again to them and mentioned that I sent the same email eariler and since I did not get any reply I am sending it again.

I got a reply, I think after 12 hrs on the same day. The following is the reply I got.

Hi,

Thank you for your email. I will upgrade the EA to make backtests possible and send the updated version to you in the next 24 hours.

Regards

I got this reply on 7th but I did not get any email with the modified expert advisor after that. Today is 12th and I already sent 2 more emails asking for the modified expert advisor. But till now I did not get it. I will post an article about how this expert advisor is working, if I get the modified expert advisor. If I don’t get any reply I will try contacting them using Clickbank support form. I will update what’s going on in the comments section.

In the meanwhile if you guys have already bought this expert advisor and using it, please let us know how this is working. If you can also explaing the two things BeginTradingHour and EndTradingHour that would be very helpful.

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Some of the important things you have to observe in the backtested reports when you buy an expert advisor or when you backtest an expert advisor

January 11, 2010 By Raj Leave a Comment

Forex expert advisors or forex robots are mechanical trading systems that buy or sell currency pairs automatically when some conditions are fulfilled. But not all the expert advisors can make profit. Some expert advisors may result in losses also. So you have to look for many different things before you buy an expert advisor. If you want to know all those things you can read my article at “http://www.forexbees.com/things-to-watch-before-you-buy-an-expert-advisr/“.

As I mentioned in that article one of the important thing you have to look for is backtested reports. This article is mainly about the things you have to look for with in the back tested results, if the author of the expert advisor is providing any. You can also use these if you are back testing an expert advisor. If you want to know how to backtest an expert advisor you can read my article at “http://www.forexbees.com/how-to-backtest-an-expert-advisor-in-metatrader/“.

So if the author of the expert advisor provides backtested reports or if you tested an expert advisor you will see the following kind of report after the backtesting is completed.

Example Backtested Report

Example Backtested Report

In the above picture there are many things that you see but the following are the things I would like to explain you as I consider them important.

1) Currency pair – If the author of the expert advisor does not provide any information about the currency pair for which the expert advisor works, you can look for this field. I have seen many expert advisor’s websites and some of them don’t provide any information about the currency pair for which it works. So I generally look for the backtested results and then I look at the currency pair text in that, to check for which pair it works.

2) Period: The same thing as above. If you don’t know for which time frame it works you can look for this. You can also check this to know about the length of time period it was tested.

3) Model: This is an important one you have to watch out. There are three models available when backtesting an expert advisor. They are

  • Every Tick
  • Control Points and
  • Open Prices only

In all of the above “Every Tick” model is the precise method as it uses every tick when testing the expert advisor. So if the model is showing “Every Tick” then it is a good one. If it is showing anything other than “Every Tick” model then the results are not believable.

4) Modelling Quality: Modelling Quality is another important factor. Modeling quality is the number of ticks modeled during testing. It is in percent value. Lets say it is 50%. That means only half of the ticks are used by the expert advisor when testing it. When I look in the reports I look for the modeling quality to be at least 90%. If it is not 90%, I think that it is not tested properly and I won’t believe in the results.

5) Initial Deposit and Total Net Profit: Some expert advisor authors may say that the expert advisor has made one hundred thousand dollars in 30 days which sounds like it’s a cool expert advisor. But when I see such things the question that immediately comes into my mind is “what is the initial deposit they used?”. It might be a million dollars and a normal man like me can not fund my forex account with a million dollars. So I look for these two things “Initial Deposit” and “Total Net Profit”. If the initial deposit can be affordable by me and there is a good total net profit that means its a good one.

6) Profit Factor: This is another important one you have to look. It is the ratio between Gross Profit and Gross Loss. It is in percent value. Lets say it is 1. That means there is an equal amount of gross profit and gross loss which means there is no profit for you. When I look for this, I look for a minimum value of 2. If it is 2 that means the profit is double than the loss. If it is greater than 2 that means it is a good expert advisor.

7) Maximal Drawdown: We can say it is maximum loss incurred in backtesting. For example if the initial deposit is $5000 and the account grows to $30000. Then a loss of $5000 occurred and the amount comes down to $25000 and it went to $35000 again. If it is the maximal loss in the whole length of back testing then it is the maximal drawdown. At any point if the maximal drawdown is not below the initial deposit and if the graph is continuously raising then it is good.

8) Maximal Consecutive Losses: These are the consecutive losses that occurred. The expert advisor is good if it is a small number.

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Forex Expert Advisors Or Forex Robots List

January 9, 2010 By Raj Leave a Comment

List of expert advisors:

I have collected a list of expert advisors from clickbank and you can check them at the page “http://www.forexbees.com/expert-advisors/“. The following is a small article about expert advisors in case you don’t knwo what these are. The following won’t give you full information about expert advisors but it will give you an introduction about expert advisors.

what are forex expert advisors or forex robots?

A forex advisor or a forex robot is a mechanical forex trading system that opens and closes trades on behalf of you with out manual interference. They are software programs developed in such a way that they sell or buy the currency pair you wish when some particular conditions are matched. Most of the available forex expert advisers are developed for metatrader forex platform. If you don’t know what is a metatrader platform or how to trade on metatrader platform you can watch the videos at my article “http://www.forexbees.com/how-to-use-metatrader-for-forex-trading/“. Most of the brokers offer metatrader platform for forex trading. You can download this and open a demo account to check how you can use this platform for forex trading.

How does an expert advisor work?

Expert Advisors buy or sell currency pairs when some particular conditions are fulfilled. For example if you wish to sell a currency pair whenever the currency pair crosses below a moving average line or buy a currency pair whenever the currency pair crosses above a moving average line the expert advisor can be coded to do that. These programs are developed in MQL4 programming language. The above is just an example. The expert advisors available in the market today, use many different conditions and indicators either to sell or buy currency pairs.

How to use an expert advisor?

To use an expert advisor you need to install the expert advisor or forex robot first. Some expert advisors come with an executable file which you need to just click on it and select the metatrader folder you wish to install it. For example you downloaded the metatrader platform from FXDD and installed it in Program Files in C drive and you want to install the expert advisor on this you need to select the folder “C:\Program Files\FXDD – MetaTrader 4″. Some expert advisors directly give you the expert advisor files which are generally with the extension “.ex4″. You need to copy this file to the “experts” folder under your metatrader folder. For example if you are using FXDD metatrader you need to copy this “.ex4″ to the folder “C:\Program Files\FXDD – MetaTrader 4\experts”. Sometimes you may get some additional files like “.dll” files but you will also get a clear documentation of how to use it.

After you install the expert advisor you definitely need to backtest the expert advisor. Backtesting an expert advisor means to check it how it worked for past years. If it works good for the past years that means there are very good chances that it works for future years also. If you don’t know how to back test an expert advisor you can check my article at “http://www.forexbees.com/how-to-backtest-an-expert-advisor-in-metatrader/“. As I said, this is not a full article about expert advisors the above is just an introduction. You can check the list of expert advisors at “http://www.forexbees.com/expert-advisors/“. I will keep on adding more  to this list.

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Forex Megadroid Expert Advisor Real Review With Changed Settings

January 6, 2010 By Raj 3 Comments

Forex Megadroid

I have written a review about the forex expert adviser “Forex Megadroid” earlier. The review contains the backtested results that were conducted by installing the expert advisor as it is with out changing any settings. You can find the review at http://www.forexbees.com/forex-megadroid-expert-adviser-real-review/. I have conducted another backtest by changing the settings and this review shows you what changes I have made and how this forex megadroid expert advisor is working with those changes. Again I have conducted the test on metatrader platform from ODLMarkets with a starting balance of $5000. I have used the same “Every Tick” model for testing this, which is the most precise method for testing any expert adviser. The results are quite impressive.

The following are the only changes I made.

1) I increased the LotSize from 0.1 to 0.2.

2) I increased the RiskLevel from 0.1 to 0.2.

I touched only the above settings. I did not touch any other settings like money management, slippage etc. I just left them as it is.

The tests are conducted again from years 2000 to 2009 and a final test is conducted for the whole length from 2000 to 2009. So lets review the results.

Year 2000:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2000 Graph with changing the lotsize and risk level to 0.2

Year 2000 Graph with changing the LotSize and RiskLevel to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2000 Graph with Default LotSize and RiskLevel which is 0.1

Year 2000 Graph with Default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $8197. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $11059.95.

Year 2001:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2001 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2001 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2001 graph with default LotSize and RiskLevel which is 0.1

Year 2001 graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $12128.25. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $25083.60.

Year 2002:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2002 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2002 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2002 Graph with default LotSize and RiskLevel which is 0.1

Year 2002 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $10499.50. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $20035.80.

Year 2003:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2003 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2003 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2003 Graph with default LotSize and RiskLevel which is 0.1

Year 2003 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $16019.60. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $40625.85.

Year 2004:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2004 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2004 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2004 Graph with default LotSize and RiskLevel which is 0.1

Year 2004 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $14457.00. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $48517.25.

Year 2005:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2005 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2005 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2005 Graph with default LotSize and RiskLevel which is 0.1

Year 2005 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $14622.70. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $36112.40.

Year 2006:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2006 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2006 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2006 Graph with default LotSize and RiskLevel which is 0.1

Year 2006 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $9659.45. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $6600.25.

This is the only year where with changing the LotSize and Risk Level, it made less amount of money than with out changing the LotSize and RiskLevel. But the deposit is never lost and it still made some profit.

Year 2007:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2007 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2007 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2007 Graph with default LotSize and RiskLevel which is 0.1

Year 2007 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $6521.00. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $7751.05.

Year 2008:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2008 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2008 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2008 Graph with default LotSize and RiskLevel which is 0.1

Year 2008 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $10940.45 With changing the LotSize and RiskLevel the deposite of $5000 is grown to $18034.80.

Year 2009:

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2009 Graph with changing LotSize and RiskLevel from 0.1 to 0.2

Year 2009 Graph with changing LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Year 2009 Graph with default LotSize and RiskLevel which is 0.1

Year 2009 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $11600.05. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $20026.30.

Year 2000 to 2009(Continuously Run):

With changing the LotSize and RiskLevel from 0.1 to 0.2:

Year 2000 to 2009 graph with changing the LotSize and RiskLevel from 0.1 to 0.2

Year 2000 to 2009 Graph with changing the LotSize and RiskLevel from 0.1 to 0.2

With default LotSize and RiskLevel which is 0.1:

Years 2000 to 2009 Graph with default LotSize and RiskLevel which is 0.1

Year 2000 to 2009 Graph with default LotSize and RiskLevel which is 0.1

With default LotSize and RiskLevel the deposit of $5000 is grown to $6383712.55. With changing the LotSize and RiskLevel the deposite of $5000 is grown to $42951494.60.

So overall this expert advisor is doing much better when the LotSize and RiskLevel are 0.2 than the default which is 0.1.

The following are the different years reports when the LotSize and the RiskLevel are 0.1(default) and 0.2(Changed).

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Forex Megadroid Expert Adviser Real Review

January 6, 2010 By Raj 8 Comments

FOREX MEGADROID

Recently I have bought the expert advisor “Forex Megadroid“. I have backtested it to see how it is working. It is working good actually. The following is the review of this expert adviser.

I have tested this expert adviser for different years from 2000 to 2009 and for all these years it worked well. I have tested this for the whole length of time from 2000 to 2009 also and the results are given below. In all of my tests for different years it always showed profit.

One of the good thing I have seen in this expert adviser is the GMTOffset setting. I have seen some other expert advisers where you have to manually enter the GMTOffset which they don’t tell you what it is exactly. But for this expert adviser you can leave the default setting which is “0″. If you leave it, it will automatically calculate the GMT Offset for you. If you want you can change it also and test it.

Other good thing is the money management. It will automatically determine the number of lots that has to be traded and manage the money accordingly. If you want you can change this also and test it.

Another good thing is, for all of these years, any year you take the maximum number of consecutive losses are only 2 (for some of the years it is only 1).

Following are some of the points about this expert adviser.

1) This is for EURUSD only.

2) This is for hourly chart only.

3) Back tested results are given for this expert adviser in the expert adviser’s website http://forexmegadroid for the years from 2000 to 2009 but these backtested results my differ from the results you may see as the author of the web site is using metatrader from one particular broker and you may use a different broker’s metatrader platform.

The following are the conditions I have used for testing this expert adviser.

1) I have used $5000 as the initial deposit for testing.

2) The expert adviser is installed and tested as is and the settings were not changed. Tried to change the settings and test it but it is working for some years and for some years it’s not.

3) I used “Every Tick” model for testing this, which is the most precise method for testing any expert adviser.

4) The expert adviser is tested on ODLMarkets metatrader platform. But for a couple of years I tested it on other broker’s metatrader platforms like FXDD and AlpariUK and for whatever years I tested it worked for those also.

The following are the results for different years starting from 2000 to 2009. A final test is made for all the years starting from 2000 to 2009 and the results are shown at the bottom. The results are impressive.

Year 2000:

Year 2000 Results

Year 2000 Results

Year 2001:

Year 2001 Results

Year 2001 Results

Year 2002:

Year 2002 Results

Year 2002 Results

Year 2003:

Year 2003 Results

Year 2003 Results

Year 2004:

Year 2004 Results

Year 2004 Results

Year 2005:

Year 2005 Results

Year 2005 Results

Year 2006:

Year 2006 Results

Year 2006 Results

Year 2007:

Year 2007 Results

Year 2007 Results

Year 2008:

Year 2008 Results

Year 2008 Results

Year 2009:

Year 2009 Results

Year 2009 Results

Years from 2000 to 2009 (Continuously run):

2000 to 2009 Results Continuously Run

2000 to 2009 Results Continuously Run

The following are the reports that shows you all the trades that were taken by this expert adviser for different years from 2000 to 2009 and also the full report 2000 – 2009. Click on the following links to open them.

Year 2000 Report

Year 2001 Report

Year 2002 Report

Year 2003 Report

Year 2004 Report

Year 2005 Report

Year 2006 Report

Year 2007 Report

Year 2008 Report

Year 2009 Report

The following the report for 2000 to 2009 when the expert adviser is continuously ran from 2000 to 2009 and not for individual years.

Years 2000 to 2009 Report

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ForexGForce expert advisor – will it really work?

November 26, 2009 By Raj Leave a Comment

I came across this website http://www.forexgforce.com through twitter which is essentially about a forex expert advisor. It seems impressive but I have a lot of questions about this expert advisor. If you have already bought this expert advisor and tried it, can you please post your experiance about this expert advisor? The following are my questions or doubts about this forex expert advisor.

1) This expert advisor is saying that it has made 2.7 million dollars from 10K in just 10 months. But it is not mentioned which year it is? I have never seen an expert advisor that has made this much money in such a less time.

Picture 1: ForexGForce Report
Half of the picture is hidden by other text and not showing some of the important information

Half of the picture is hidden by other text and not showing some of the important information

2) For this expert advisor all of that are shown as a results are two pictures. The first picture shows the report (I think a backtested results report) but half of the picture is overridden with another text saying that the expert advisor has made 2.7 millions. But this overridden picture contains some important information like gross profit, maximal drawdown, no. of profit trades etc which we can not see as another text is placed above that.

3) The second picture that is shown contains the trades that are taken using this expert advisor but this is also overridden with another text saysing that it turned 10K in to 27K in only 11 trades. This overridden

Picture 2: Some of ForexGForce results
The above picture showing some of the result but it is also overridden by other text

The above picture showing some of the result but it is also overridden by other text

section contains the actual Stop Loss and Take Profit numbers. So are these figures modified? Also this second picture is not showing any dates when these trades are taken.

4) No proof – No hypothetical or actual demo trading results. All that is shown are two videos where the author is trying to impress people that it really works and even in the video also no results are shown.

5) Reviews – Type “forexgforce reviews” in google and it will bring all favorable reviews which might be eigther sales letters or from people who are trying to sell and make an affiliate income. No forum discussions are found so far.

6) The author is saying that it will be only for a few members and then it will be closed. Is it a marketing technique?

7) The results the author is showing are already missing the stoploss and take profit information. It is also not mentioned about any currency pairs. So for what currency pairs will it work? All currency pairs or only for some currency pairs.

8) No expert advisor makes 100% profitable trades (all profitable trades). Every expert advisor will have some losses. What about this expert advisor? No lost trades are shown.

9) The author is mentioning in his video that he trained 1400 forex traders. Does anyone know this author? No website of him as a forex trainer is mentioned in this website.

I have posted a review about one expert advisor that I bought and lost my money at http://www.forexbees.com/forex-articles/forex-boomerang-expert-advisor-real-review. Check it out. I have already lost my money on some other expert advisors also. So please write a review if you have bought it already. Please share the results also like the pictures of the backtested results etc.

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