Latest Testing of Forex EAs by John

Hi everyone,

Just an update on John's latest testing of EAs / forex robots...

For those of you not aware of John, he's an expert on EAs. What he's been doing over the course of the last few weeks and will continue to do (over at Forex Moments), is to openly test the latest (and hopefully greatest) EAs out there on the market, and let you guys know about it.

You can see his latest testing of EAs right here:

http://www.forexmoments.com/forums/e...visors-robots/

John's been in Forex for many years, more than most, and has developed a knack for seeking out EAs with potential.

The good thing is, John is testing these EAs in real-time, and you're be able to see what his account looks like via the frequently updated statistics. Any EA that makes losses, will be abandoned after a few weeks. Any EA that makes profits, shall continue to be run.

Please take a moment to go through his introduction thread here...

Put it this way, if there's a forex robot that you ought to know about, John will let you know.

We'll keep updating this thread on a consistent basis to let you guys know what's the latest.

Cheers.

Okay here is the next one I am testing. Blackbelt EA. This robot trades eur/usd 30 minute chart and a lot of folks are comparing it to forex growth bot...

http://www.forexmoments.com/forums/e...k-belt-ea.html

Definitely my best performing ea at the moment. What can I say I love this ea!!!


http://i41.tinypic.com/r1dg76.jpg

Okay guys here is another one i've been testing. It's called smart fx. My first impressions....

Well for one The Developer, Robert has been awesome. He actually did a live session with me to make sure I understood his ea and that my settings were correct. He is very easy to contact and makes himself accessible.

As for the ea, well so far it has been doing awesome! With conservative settings this ea promises to make up to 30% monthly! Will this hold up over time we shall see. There are two different ea's. One is a super scalper and works accross 4 pairs and one is a breakout hunter and it works with eur/usd. Robert says the point is that both ea's "hedge each other" This makes them more consistant and smaller drawdown in the long run.

My results so far have been good. I have been trading this in demo. Just being a little cautious after my test account got killed by a different ea. I am going to go live with this ea next week.

http://www.forexmoments.com/forums/e...echnology.html

Never put all your eggs in one basket is an idiom that basically means diversify. If you put all your eggs in one basket than drop the basket by accident than guess what? All your eggs are broken.

This is also true in trading. If you focus all your efforts or put all your money into one ea or trading method than you risk being unsuccessful. If for example I put all my money into 1 ea and that ea starts to fail than my account will lose value. If I let this go on long enough I will lose my whole account.

What I prefer to do is diversify. As many of you know, I constantly test ea's. To be honest the ea's I have listed here really only scratch the surface of my testing.

http://www.forexmoments.com/forums/e...hilosophy.html

smart fx is finally bouncing back this month she is up 4.72%

http://www.forexmoments.com/forums/e...hnology-3.html

Take it from me at the core of successful trading is Money Management

Diversifying your portfolio begins with testing. Forex is a business and you should think like a business man/woman when trading. If you take your trading serious and you want to live off of it, than there is no other way than to treat forex like a business.

Most businesses have on some level "research and development" They spend a certain amount of time and money on developing new ideas and innovations.

I do the same with my portfolio. I take time and effort to test new ea's even when my account is doing great. This way when the markets shift and some of my ea's fail I already have new ea's ready to pick up the slack.

http://www.forexmoments.com/forums/e...hilosophy.html

I have been live forward testing for about 6 weeks so far. the results are promising. This ea doesn't trade as often as some of the others in my portfolio, but I don't see that as a bad thing especially if these ea's have a decent win rate and decent r:r I don't have enough data to make any conclusions yet but as soon as I do I will let you guys know.

http://www.forexmoments.com/forums/e...champ-2-a.html

Many people will tell you ea's are crap and they don't make anyone money. Many people will say price action is the only way or rule based trading is the only way. I say there is many ways to trade and many ways to succeed in forex but you have to be consistent.

So first and foremost for me was to diversify this way if an ea takes a beating than the others would help cover me. So that is the basics of my trading philosophy. I hope to share more with you guys. I realize this is like reading war and peace and I apologize for that. I'm just excited to share with you.