EA Reviews » Forex Derivative

Weekly Wrapup (combined)

Strider — Sun, 28 Jun 2009 19:38:58 +0000

I apologize for less frequent posts this week. Things have been extremely busy both at my full-time job and in my personal life, so I’ve not had much time to write here. As a consequence, I will combine the weekly wrapup of the systems we’re testing and trading in this one entry.

Forex Derivative
It was a mixed bag this week for our two Forex Derivative demo accounts. The FxPro account did well and was up $284.36, or 8.6%, bringing its account equity to 3,579.30, or a 19.3% gain since the account began one month ago. The Alpari-US account didn’t have such a nice week and continues to disappoint. For the week it lost $316.71, or 11.0%. This account now sits at $2,554.63 in equity, or a 14.8% loss since the account was opened on June 4.

EuroBlaster
It was a great week for our EuroBlaster demo account. First and foremost, it was able to get itself out of the rather large drawdown that it had been fighting since a June 12 trade that went against it. Then it also made a positive trade or two. The account now stands at $6,092.40 in equity, which represents a 21.8% gain since it began on June 8. There is one position open, currently with a drawdown of $154.00. I have now lowered the risk that the EA is using. I am risking just 2% with a lot size of 0.1 and maxtrades of 1 as well.

The Robominer
The Robominer had a great week. As I have stated before, I *really* like this robot, and this week showed why. This week the EA added another $67.37 in equity after it was able to close out a whole host of open trades. The equity balance is now $3,180.35, representing a 6% increase since the account began on May 21. This thing just chugs along making a steady stream of small wins. It’s conservative — but effective!

Forex Grid Bot
I blew it with Forex Grid Bot this week. I took down the demo account and began a live account on Tuesday with $1,000. It was able to close out its first trade on Tuesday with a profit, but then the trouble began. The GBY/JPY pair decided to make a steady play to the north and never retraced enough for either of my two open positions to close out a profit. Ås the price continued up, I foolishly went against my plan and removed my stoploss at $150. My thought was that the immediate 1-hour trend would bring the price back down to a point where I could get out of the trades without an issue. Well, the price has ranged since Tuesday and has not allowed me to exit those trades yet. I am presently down about $275 between the two positions and have turned off the EA to manage them on my own. In retrospect, I should have been firm with the stoploss I set ($150) and just taken my lumps. So depending on what happens with these trades, I will be back soon with trading results on either the demo account or the live account.

Weekly Wrapup – Forex Derivative

Strider — Sat, 20 Jun 2009 05:01:54 +0000

Unfortunately, both of the Forex Derivative demo accounts took a step backward this week. The FxPro account gave back $297.22, or 8.3%. The Alpari-US account fared even worse, losing $662.85, or 18.8%. The equity in the FxPro account now stands at $3,294.94, or+9.8% since the account was opened on May 29. The Alpari-US account finished the week at $2,871.34, which represents a 4.3% loss since that demo account began on June 4.

I upgraded both of these demo accounts to the latest version this week (2.0 v1.4). Maybe it was just my imagination, but it seemed like the EA didn’t take quite as many trades once I installed the newest version. With the new version comes a new parameter called “ProfitProtect”. When set to true, this apparently keeps the EA from taking a loss once a position has gone into profit by a certain percentage. I have not seen this feature in action yet, but I believe that is how it works.

I am not discouraged by the down week. I know from the backtests that this happens sometimes. You have to look at the performance of an EA over a larger period to get a true feel for its capabilities. So we will keep the settings the same and see what next week has in store.

FxPro

Alpari-US

Weekly Wrapup – Forex Derivative

Strider — Sat, 13 Jun 2009 04:26:44 +0000

Both of our Forex Derivative demo accounts (FxPro and Alpari-US) are still well into positive territory after this week’s trading. But what a ride it has been! If you have a weak heart or stomach, Forex Derivative may not be for you. This EA rocketed in the early and middle parts of the week, shooting both accounts to over $4,000 in equity for a while, but they had both given back about $500 of those gains by the time the closing bell sounded on Friday. But that’s consistent with the way this EA has traded in the past. A look at the equity curve will show what a roller coaster ride it can be. We noticed the same thing on many of the backtests. But the bottom line is that it is making money, and over time the equity line continues to rise. So if you can handle the ups and downs, you will probably like the end result. But the journey can give you ulcers!

The FxPro account, which does not trade in micro lots, finished the week with $3,592.16 in equity, a +19.7% increase since the account began on May 29. The Alpari account, which is capable of working with micro lots, ended the week with $3,534.19 in equity, or a +17.8% increase since the account was started on June 4. The EA has done very well on both accounts. It will be interesting to see if it can continue.

FxPro

Click here for full trading results (FxPro).

Alpari-US

Forex Derivative backtests added

Strider — Tue, 09 Jun 2009 19:54:27 +0000

Just a quick heads-up to let you know that I have now added IBFX backtests for Forex Derivative covering the EUR/USD pair from 2000 all the way through 2009. I think you will be quite impressed at the results. Every year finished in positive territory, and the most recent years were “off the charts.” Click here to go to our Results page and see why I’m so excited about the potential of this EA.

Introducing Forex Derivative 2.0

Strider — Mon, 08 Jun 2009 15:59:02 +0000

I’d like to introduce to you another expert advisor that I believe may have some real possibilities. It is called Forex Derivative. I just found this one a week or so ago, and thus far I have been very impressed. It has performed well both in backtests and in my limited forward testing.

This EA apparently has several different strategies built into it that it will employ based upon its analysis of the current condition of the markets. It runs on the 1M timeframe on the EUR/USD, GBP/USD, AUD/USD, and USD/CAD pairs.

I have found that it trades quite often and that you are almost always in between one and three trades. Some of the trades are shorter term (less than 100 pips TP), but some can go for many hundreds of pips, just depending on the strategy it employs.

It does take losses from time to time and sometimes a few in a row, but it seems to know when there is no hope of a trade coming back in your direction and gets out accordingly. Looking at the backtests, it is not unusual for there to be some drawdown for a time, but before too long, the equity level returns to a favorable level.

The developers tout its money management as one of its best features, saying that Forex Derivative strives to preserve capital just as much as it does growing the account. For this reason they recommend using it with a broker that allows trading of micro lots so that the lot sizes can be fine tuned for the money management.

I have set up two live demos for Forex Derivative. One is with FxPro, which only allows mini lots, and the other with Alpari-US, which allows micro lots. Please visit the Results page to see how the demo accounts are doing.

Click here if you want to get your own copy of Forex Derivative. The cost is only $97 for a short time. The good news is that there is a 60-day refund guarantee if you find the EA doesn’t meet your expectations.