EA Reviews

Do you remember that huge surprise that the folks at the Forex Robot World Cup were due to come out with? The one they said would shock the Forex world? Well, today is the day, and here’s what it is. Basically, they have created a “Super Robot” by combining the best attributes of the top five finishing robots in the FRWC competition. This new hybrid EA, which they have named “Fusion-V 1.1a”, supposedly netted a gain of 355.46% in live, real money trading over a period of just 19 days. Whoa. Is that even possible? They aren’t giving any details yet on how exactly that was accomplished, but that just seems unbelievable.

The Fusion-V will be included in the FRWC’s Royal Trader package that goes on sale February 16 — that’s tomorrow! So we will soon be able to get our hands on these highly-touted EAs to test them for ourselves and bring you the results. We’re looking forward to it.

Stay tuned to the blog. We will bring you all the latest information as soon as it becomes available.

http://www.forex-robot-world-cup.com

The folks at the Forex Robot World Cup have posted a video interview with Drazen Ziskovic, the developer behind LMD-Multicurrency, the robot that recently won first place in the inaugural Forex Robot World Cup competition. Drazen, who is 33 years old and lives in Croatia, talks about the strategy behind his winning EA as well as what he plans to do with the $100,000 first prize that he received from the FRWC. Watch the entire video here:

www.forex-robot-world-cup.com

The other top finishers (including their photos) are also now listed on the site. Here is a quick rundown of the top five EA developers:

Also, next Monday is when the Forex Robot World Cup will announce their “big surprise” that they claim will shock the automated trading industry to the core. Then of course Tuesday is the big day — launch day. The FRWC Royal Trader EA package will officially go on sale. I’m pretty pumped about it.

More details have begun to surface regarding the EA package that the Forex Robot World Cup has put together and will be offering for sale on February 16 (just 4 days away).

First, they have named the package “Royal Trader”. I’m not sure what the inspiration behind the name was, but at least it wasn’t “Forex Assassin,” “Forex Avenger,” “Forex Killer,” etc., if you know what I mean.

Second, the leaked price is $999. I contacted the FRWC, but they wouldn’t affirm or deny this and said we would have to just wait until launch day to find out for sure. I’ll admit that my first reaction to that price was, “ouch.” That’s a pretty steep price for even three good EAs. But then again, if these robots work as they did during the live account testing phase, that price is an absolute steal. Consider this. Investing just $1,000 in the HiRIDER EA would enable you to recoup your money in just two and a half months — and everything after that is pure profit. If the LMD-Multicurrency robot continues its hot streak, investing $1,000 in that EA would recoup your money in about one and a half months. So while the cost of entry seems high, you have to bear in mind that you’re buying several EAs that have been proven to work in a live trading account. I don’t have to tell you how valuable that is!

Third, the Royal Trader package will include the top five to seven robots from the Forex Robot World Cup. Each will be able to be downloaded in the member’s section, and each will include hacker-resistant features to make certain that only paying users will be able to use it, keeping the robots exclusive to FRWC clients.

Fourth, the FRWC has quite a few nice things planned for the member’s area: contact information for email, ticket-based and telephone support, a knowledgebase, frequent live webinars, special guest interviews, an EA Lab and more. I don’t know if all of these will be available on launch day or if they will be added over time.

Fifth, the FRWC is working with FXCM to provide some kind of special bonus only to FRWC clients. I chatted with FXCM-UK the other day, and they verified that they have been working with the FRWC and that there is such a special deal. Details forthcoming on launch day!

www.forex-robot-world-cup.com

Just a quick note to mention that apparently the Pip Android developer’s servers were down yesterday because of the tremendous amount of traffic they generated on launch day. Everything should be back up and running now, so click here if  you want to check out their live trading results and perhaps grab a copy for yourself.

The robot’s developer, Sean McDaniels, has kindly agreed to give us a copy for testing purposes so that we can write up a review of it. So, probably beginning next week, we will put Pip Android on a forward test account on a VPS and see how it does. Stay tuned for more.

Before the winning EAs from the first Forex Robot World Cup have even gone up for sale, the FRWC team has already announced that they are already accepting EA submissions for the second Forex Robot World Cup. Robot submissions will be accepted up until March 31, 2010, at which point all entries will be put through rigorous testing and evaluation to cull out the very best of the bunch. The finalists will then move on to a two-month live trading test just as was done in the first competition.

This is great news for traders. To have a steady stream of world-class, live-tested expert advisors coming into the market every few months is an incredible resource. The FRWC team is really doing the trading community a great service. And if you have an idea for a great EA, do yourself a favor and take the time to develop and enter it. There is no charge to submit an EA, and the prize money is outstanding (first place takes home $100,000, second takes $30,000, third gets $10,000, and many more get $1,000). I’m wishing I had a good idea for a robot!

Finishing in third place in the recently concluded Forex Robot World Cup was an EA called SuperVolcano. This robot registered a solid 36.25% increase during the two-month competition.

It was a fairly active EA, opening and closing 126 trades, with another 4 trades open (all in positive territory) at the time the competition ended. That’s an average of almost three trades per day.

Of the 126 closed trades, 75 (or almost 60%) were winners. The average winning trade was $7.70, and the average losing trade was $4.21. Those are excellent risk-reward numbers and a recipe for a winning system. The largest winning trade was $37.15, and the largest losing trade was $34.51. The maximum drawdown was a healthy 4.98%.

SuperVolcano only traded on the GBP/JPY pair during the competition, and it used a constant lot size of .01 lots. No stop loss or take profit levels were recorded on the official trade record, so we can’t make any meaningful observations on those at this point. Looking at the execution times of the trades, however, it would appear that this robot employed some sort of hedging strategy as its main engine. Given that FXCM is an NFA-regulated broker, I am very interested to find out how they were able to trade this robot on FXCM, as the NFA does not allow for the establishing of hedged positions with the same lot size. I will be looking into this further and will report back.

In summary, this robot looks like a solid performer with minimal risk. It will be a great addition to the robot package that the Forex Robot World Cup will be putting on sale on February 16! We’re almost there, folks!

One of these days, they’re going to run out of catchy names to give these forex robots. It seems they’re coming out at a frenetic pace now. Today we had two of them launched on the same day – Pip Android, which I have already written about a couple of times and now Forex Cash Evolution.

This system supposedly made its creator, Jeff Miller, a six figure income when he traded it manually (20 minutes per day). According to its web page, it boasts the following features:

• 92.5% winning rate.
• Works on autopilot. Requires no experience.
• Proven consistency. The only system that has worked consistently over time since 2003.
• Makes profit in any market condition… trending, non-trending, volatile or non-volatile…
• Works on any account size. With any broker. Can start with $50.
• Risk-free (60-day money back guarantee). 24/7 support.

Again, I  have no plans to rush out and get this one. I asked the developers for a trial that I could test for my readers, but they said I would have to buy a copy, so I will wait and see what some of the early testers have to say. After all, I am currently saving some money for the Forex Robot World Cup launch, which is just one week away!

That said, if you want to give this one a try, please let me know how it works out for you:

www.forexcashevolution.com

The official launch of the latest commercial Forex robot, Pip Android, is now upon us. According to the developers, it is not due to launch until 9AM EST, which is about 7 hours from now. But I just visited the website, and it appears that you can actually go ahead and order it right now. I’m not sure if that’s a mistake or what. In any event, the price is $127. As mentioned before, I will hold off purchasing at least a few days and see what others think about this one.

One thing about Pip Android that is very encouraging (if it is indeed legitimate) is the live trading results they have posted on their front page. They’ve set up two live accounts (with starting balances of $1,000 and $5,000), and the results are updated every 15 minutes. The $1,000 account has increased its equity to $1,719.78 after one month of trading. That’s an incredible 72% account increase in one month. The $5,000 account is sitting at $6,233.06 for a 24.6% increase after trading for about a month and a half. It appears the $5,000 account has not taken a trade for about a week, so I am not certain if they are still actively trading that account. I am not sure why there is such a discrepancy in results between the accounts. That’s something that will have to be determined after purchasing and getting more details. I did notice that the $5,000 account only took trades on one pair (AUD/NZD) and always used the same lot size whereas the smaller account traded on five pairs and varied its lot sizes. So clearly there appears to be some settings differences in play.

If you are interested in learning more and possibly getting a copy for yourself, click here:

www.pipandroid.com

Once you begin to get some results, please let us know how you fare, and we’ll share with our members.

Today I want to take a closer look at the HiRIDER EA, which was the second place finisher overall in The Forex Robot World Cup that I have been talking about for some time here on the blog. During the competition, it increased it’s initial deposit from $1,000 to $1,881.19, an increase of $881.19 or 88.11%.

Unlike the LMD-Multicurrency EA that made trades on many currency pairs, the HiRIDER robot only took trades on the EUR/USD pair during the competition. That said, it took a bunch of ‘em — 277 to be exact! At an average of 6.3 trades per day over the course of the competition, it was one of the busier robots in the field. In short, you won’t have to wait long to see this robot do its thing.

HiRIDER doesn’t appear to restrict its trading times to any certain period of the day or night, as it registered trades at pretty much all different times. I noticed that it quite often would open up as many as 10 different positions at one time (or within a minute or so of other trades). When many trades were opened, they were invariably in the same direction, but every so often it would only open two trades, one in each direction. I found that curious and will be interested to learn more about the logic of this robot once it is released. HiRIDER also has built-in money management capabilities, as evidenced by the varying order sizes used throughout the competition.

This EA has an extremely high winning percentage, winning 97.8% of the time. It had only five losses and one breakeven trade out of 277 positions taken. That’s amazing any way you cut it. The way it accomplishes this feat is by having its SL level much, much farther out than its TP level. The TP level appears to be fixed at 12 pips, while the SL level was about 100 pips much of the time. That’s a lousy risk-reward ratio and something I would typically frown upon, but this EA won so often, it really didn’t matter. Its largest win was $7.75, and the largest loss was $33.63.

If you don’t like drawdowns, this EA is your friend. It recorded an outstanding 3.26% drawdown over the two-month competition, making it fourth best in that category among the 24 finalists. As you see from the chart above, the equity curve was beautiful — nice and smooth. That’s good on the heart! Can it continue to do as well in future trading? No way to know for certain, but we’ll certainly be testing it with our fingers crossed. Of the top three robots in the competition, this is the one I am currently most excited about.

The top three robots go on sale in just 10 days! Go to www.forex-robot-world-cup.com for more info.

The Forex Robot World Cup folks today released a 40-page special report that further explains their mission in holding the competition as well as what they hope to ultimately accomplish. It was a good read, and I would recommend you visiting their site to download a copy (it is in PDF format). Here is just a snippet that I found amusing (but very true) on page 29:

“Someone once said that trading is like being pregnant. You are either pregnant or you’re not! There is no middle ground…. an EA either works with real money or it doesn’t.”

Another interesting thing mentioned in the report is that the FRWC is planning “a huge surprise” on February 16 (launch day) that will “undoubtedly tremble the automated FX industry.” Whoa. I’m not sure what in the world that could be, but they’ve definitely got my interest. For the rest, you’ll have to visit their site and download your own copy: www.forex-robot-world-cup.com.