I just got a comment from Allen on one of my post ‘Cracked EAs ‘ I thought I should highlight it on this new posts. As I am about to share may prove to be interesting.

Yes, I have been reading forums and sites about what Forex Maestro is all about. And if you demo it all trades are taken with a comment ‘FirebirdV36′ on it.

I found Forex Maestro EA for free and have also tested it on demo. And I can see that this is to be true. A lot of forex site and branded Forex Maestro as a ‘reverse’ engineered forex EA, rebranded it and selling it for a whooping $197!!!

As of today, my demo testing of Forex Maestro has not been profitable. But I must say my demo test has not been organized that well. I put two or three EA in one demo account and thus it does not really show a true account of what Forex Maestro does.

Well, I have backtested it and below is the graph of the backtesting of Forex Maestro.

Interesting drawdown… Almost 75% for EURUSD and 56% for EURGBP….

Should I test other pair? It was suggested 4 currency pair, EURUSD, EURGBP, USDCHF and USDCAD. Well… the answer would be no I guess, I would consider testing this EA as closed. And won’t even consider this into my demo account. Let alone testing it from 1999…

As mentioned in the comment Forex Maestro came out with version 2.

I have uploaded Forex Maestro ver 1 and maybe hope to get my hands on ver 2 to back test it to see if it is ever interesting.

Secondly, I have also uploaded FireBird EA. (All source code) See if anyone can verify if the algorithm is the same as Maestro. Unfortunately i do not have the source code for Maestro but I will soon….

Oh and Allen…. I believe it would still be safe to request a refund for this EA.