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.

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