Narrowing the field

Hi All,

Well, I have ditched Forex Auto Pilot as being absolutely inane for having no stop loss policy, you should be able to pick out the massive downers from it, I ditched 3 of its floating losses in a row. I have also ditched Steinitz HAS MTF for the same reason.

We are now down with Bogie and Forex Sniper. You can see from the sheets that this is working very well. For instance todays locked in profit is $81. Considering the balance was just over $600 that isnt bad going! Its easy to see the Bogie trades as they are marked as such in the comments.

I have had many more wins with Forex sniper than losses. Though I think I am about to land a few from my current sheet :(

Sheets below - more updates tommorrow! :)

Peter

Forex Sniper

Well Folks, sorry it took so long to get an update, but I have been playing around with the demo of forex sniper. Both Bogie and Forex Sniper are both doing well.

I am about to ditch Forex AutoPilot and maybe Steinitz HAS MTF - both have no stoploss and you can see from the stats I have had to terminate some trades and Forex Autopilot is sitting on a pretty heavy floating loss.

The other two are doing well.

So below are the follow on trade sheets.

EUR/USD, Bogie and Sniper - and the other orrible lot

Hi All,

I have killed of all of the Forex Autopilot charts apart from the one its supposedly optimised for EUR/USD. Luckily for it, the EUR is picking back up, but its still 200pips in the red, not to mention still being in the red for eur/jpy by 300pips and in the red for chf/jpy for 200pips. So I will gradually close those down too. Pretty sad state of affairs for Forex Auto Pilot. Any EA that bases a large part of its strategy on "Oh dont worry it will come back up" is nuts.

On a similar vein I am cutting back on the Steinitz HAS MTF since it operates with no stops too.

Bogie hasnt performed that well today and made a single trade loss of $38. It looks like it didnt react quick enough to some of the major ups and downs today in EUR/USD. I was able to eek a few dollars out of the swings but that was it. In these kind of moments one needs to keep and eye on things and intervene! Overall since using it though bogie is up about $35.

I was just introduced to the whole Sniper Forex System. http://www.sniperforex.com which is a manual trading system with very nice custom indicaters for MT4. I am liking what I see at the moment, and sadly I missed a rather big move which it predicted well, because I was asleep! Boo hoo - I will let you know more as time goes on, I am in at the moment on some trades on its say so. Have a look at it, it gives a weeks free trial which should give you a chance to test it.

I will post some trading sheets a little later tonight or tommorrow.

Peter

Recovery Tuesday?

Hi All,

Well well well, lucky tuesday for Forex Auto Pilot as the EUR/USD recovers. Though it isnt all that lucky since it isnt out of the red yet. As you will see from the trading sheets it still has a floating loss. My account has been helped along by three things.

1) Bogie EA - this has been doing very well with all these swings. Knocking down $25 in profit and having a current floating profit of $13

2) The new EA I am using HAS is in profit - though only because I closed a couple of its trades since it also doesnt seem to have a stop loss! When will these EAs learn :P

3) I made a few nice trades of my own today totalling $37

My own EA that I coded sucks :) I will find some time, somewhen to look at it some more, but I am swamped with work right now. I think I might start movie exclusively to bogie.

The current trading statement is hard to see what Forex Auto Pilot is doing because it doesnt comment its trades. But be rest assured that the only recent ones from it are NZD/USD because it has high losses in the other areas, namely EUR/USD, CHF/JPY and EUR/JPY



Below are trading statements from the start of this little experiment, plus the current open positions. They kinda carry on from the previous ones :P

My own EA

Hi All,

Well I finally got into writing an EA this weekend. Not too difficult actually, some niggles, but nothing unhandle-able. I will have to read up on some of the good articles on the MT4 site.

The amusing thing about all this back testing and optimisation is that it can lead you down the garden path. What looks good on optimised backtesting performs bad as soon as you apply it to any other symbol.

I'll keep you all informed of progress and share some versions of it.

Looks like the EA ForexAutoPilot is very bad, I recently saw a site which show it performing very bad...

http://www.forex-robots.com/4robotsweekly.htm

I will cut my losses with it, if it eats up rest of my initial deposit.(not the 300 I added recently).

Cheers

Peter

MINUS 860 in 5 days

Hi All,

Due to the underperformance of the EUR I am sat on a possible loss of 860pips for the week. Of course, Forex Auto Pilot hasnt closed any of these massive floating losses, and I have been advised that this is perfectly normal. A bit of a disappointing end to week 1. BTW, I am actually sitting on 1250pips of floating loss! the reason for 860 is because it has booked 390pips in profit. You'll see it all from my sheets below. To be fair. some 280pips of the floating loss is my own fault. I had this reasoning that since EUR was down a lot, and the EA expected it to go back up, I would make some extra profit on the way up :P Silly child! Some of the profit made is by me too though, I am have made up for some of the loss with 20 pips here 20pips there, but still a mistake to interfere.

The other problem with the way I have set the Forex Auto Pilot is that it is only allowed one open order per chart... which means it has been able to take any benefit of the market. I am going to shut down shortly some of the charts and allow it to trade EUR/USD with several open positions. I also think that I have too many open positions for the money I have too.

Anyway - Bogie hasnt made a single trade for a several days so nothing to report there. Anyway - here are the results for the whole week.

Anything marked with a red line on the right hand side are my interventions... the rest are down to the EAs.

BTW - I added the sheets a little later on, so figures are a smidgeon different.

Profit/Loss sheet








Current Open Trades

Day 4 - The horror of it

Hi All,

I am super busy tonight so its a very quick update! Tommorrow I will get more added.

I sent an email to the author of Forex Auto Pilot who stated that FAPS makes 96% of winning trades. He informed me that the large negative open trades were normal and could stay that way for weeks. Having a look at the backtesting you can see this to be the case. He mentioned I should stay patient, and also thought the dollar would weaken shortly.

AFTER he said that, the USD gained more strength and now my total open positions hold a negative value of 850pips - waaaaaaaaaaa

Still I am patient - it is only money.

Bogie hasnt performed great since, it made a loss of 113 pips. Still, it is still UP though be it by about 10pips.

I am currently running some massive backtests using optimisation on GBP/USD.. only 1 million runs left for it to do.

More info tommorrow with screen shots again. ( Busy praying to the trading gods the US weakens... at least until I get rid of the negative open positions ).

Peter