Forex Kung Fu

Better continues his lead at the automated trading championships. I am still most interested in WinWin2007’s scalping strategy. If any if you know him can you setup an introduction?

Here are the current results - you can learn more at:

http://championship.mql4.com/

#	Login	Name	Comments	Country	PF	Balance	Profit	Equity
1	500008	Better	641	Ukraine	2.18	130 475.45	0.00	130 475.45
2	500197	wackena	95	United States	2.40	55 042.10	0.00	55 042.10
3	500271	Pegasmaster	36	Ukraine	3.03	39 945.81	0.00	39 945.81
4	500123	draz	25	Croatia	1.37	39 547.76	0.00	39 547.76
5	500162	zyx40	40	Russia	1.96	36 858.40	0.00	36 858.40
6	500087	YuraZ	42	Russia	2.12	35 222.97	0.00	35 222.97
7	500097	Saloght	39	Russia	1.77	34 888.70	0.00	34 888.70
8	500494	Newman2	26	Canada	2.04	31 952.46	0.00	31 952.46
9	500030	TeamSky	18	Japan	5.16	29 924.87	0.00	29 924.87
10	500445	Greezly	12	Ukraine	2.96	26 932.05	0.00	26 932.05
11	500022	maxfade	20	Ukraine	1.21	25 933.58	0.00	25 933.58
12	500274	rfiche	19	Brazil	1.70	25 497.51	0.00	25 497.51
13	500432	winwin2007	713	Germany	2.23	25 443.60	0.00	25 443.60
14	500179	Richi_k2	6	Bulgaria	2.96	24 874.12	0.00	24 874.12
15	500062	dogada	5	Ukraine	4.55	24 584.48	0.00	24 584.48

Most EA’s are lagering that we are testing here above / below 10%, with the exception of FX-Bandit II. It is up 30% on recent dollar volatility. Bill’s results at the automated trading championship are also quite impressive : http://championship.mql4.com/2007/users/waaustin/reports

I am debating trading it on a live account while my custom platform is being developed. I feel more comfortable with the EA now that Bill reworked the stop loss strategy, even if it is not performing as well as the EA with no stop loss. I loathe opening an account with a market maker though.

Based on the excitement CK has in the new EA PointBreak I decided to setup a trial version and begin forward testing. The EA is auto publishing in the Forward Testing Results page on the menu. From the website of the developer:

POINT BREAK EXPERT ADVISOR (VERSION 5.0)

Program Description:

*Small trades are continuously added above and below the opening position.
*The system is smart enough to apply pyramiding, hedging or closing some positions depends
which way the market moves.
*This is not averaging-down system (which are commonly seen and work nicely for a couple of weeks until your account blows up).
*All trades are closed only when a net profit is reached and added to your account balance.
*Some trades stay open that are in negative equity (drawdown) until price returns or continues the trend and start making profit.

Fx-Bandit is trading with a lead. I am beginning to believe FX-Bandit has the highest risk-reward ratio by default. CK just posted a good review of Fx-Bandit at http://ckowyong.com/blog/?p=68

The main issue both I and CK have is defining what an effective stop loss strategy entails. In that post some of CK’s readers define their thoughts on the issue. I am definitely interested in trading this EA, but I think I will be doing so with 10%-20% of my available assets until I come to an understanding of what an effective stop loss means to me. Right now the live testing done on forexkungfu with Fx-Bandit is being done with no stop loss.

Steinitz and PipBoxer have been trading plus / minus 2%.

I have written several other EA authors asking for evaluation versions of their EA’s - hopefully we can add them to the live testing soon.

Results have been updated.

Fx-Bandit II had a drawdown. There is a setting for stop/loss that was triggered. Bill told me to deactivate this yesterday, but I didn’t get to it. The stop/loss wasn’t triggered in Fx-Bandit I, so hopefully those trades will turn around.

I setup Steinitz has per his instructions on 10 currency pairs. It started trading immediately on a few pairs. Seems to be a fairly polished EA. Will start posting results tomorrow.

Pip Boxer keeps chugging along - not much to report.

Hal Chapman from Double Play said he cannot provide a demo of his EA as someone reverse engineered it.

Part of the reason I hate windows: automatic windows update restarted my machine last night and shut the EA’s off - so not sure if that had a major impact.

Updated results are now available.

FxBandit is up to 134k - awesome results so far. Bill has sent me some variable modification to FXBandit II to keep it competive with FxBandit I.  I will be changing that shortly.

PipBoxer completed its first trade for a healthy 6% profit. I am adding the results to the menu. I have some changes to make to the PipBoxer setup - I want to keep it inline with the suggested rollout on their website.

Still haven’t had an word from Double Play…

I wrote a couple of other EA vendors to see if they are willing to share trial versions of their code.

I have a new friend in the forex blog world - please check out his site:

http://ckowyong.com/blog/

Wow - I posted the results of FX-Bandit on the menu. I will be posting results daily there. You can see FX-Bandit v1 just went into overdrive, with 25% profit. Version 2 did 10%.

Pipboxer made no trades.

The folks from Double Play still have not gotten back to me on a demo of their EA.

I can’t wait to open a live forex account. Very exciting day.

Brian