Forex Rising

Filed Under (EA System, Journal) by Casey on 29-04-2009

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Ok… back to some real searching and reporting.

As the title suggest, I have tested Forex Rising out on Demo for the last two week. And I must say I am very impress but also slightly disappointed.

Impress on it’s execution and profits, disappointed that it could not be more…. :)

Forex Rising was a buzz on some of the forums. And now I know why…

I was so impressed by the demo results, I put it on live straight away on all my account. FXDD, Alpari, IBFX and also FXOpen.

This EA only go long. It does not go short. Don’t know why but it seems like it work really really well on both 15M EURGBP (no surprises here) and also 15M USDCHF. Simple as that.

The only thing is that is working really really well on my FXDD account as the screenshot above shows. For my other broker account, it seems that only a handful of trade was taken and not like my FXDD account.

One things for sure, I realize that this is a silent scalper. Why silent? If you look at the properties, it shows that you have a take profit level. Checking the codes, found that that is the INITIAL take profit level. Now, most brokers do not like scalper and they can probably smell a scalper by the take profit level.

Forex Rising, has another code build into it, call TrailingTP, funny… it though it is usually called trailing SL(Stop Loss) but Trailing TP (Take Profit)? Now that is really smart. Once the order is taken, the trade will then be modified the the scaling level that you desired. The default is 3…

Not bad don’t you think?

Forex Rising really helped me to try and achieve my this month objective for FXDD.

A word of caution and warning. I believe that you can not run this EA on two different chart. Why because this would happen…

Notice the numerous small losses it is taking, then reentering and stop out? I do not believe it’s the broker problem.

I believe that it can not differentiate the trade it takes from one chart to the other. Usually if there is a Magic Number used, each trade will be able to differentiate another trade taken by another EA on the same currency pair. Thus, the EA will know which is it’s trade. But that is for THE SAME CURRENCY PAIR.

What I did here was to try to use the SAME EA on DIFFERENT CURRENCY PAIR and it seem that this EA does not or could not differentiate the which currency pair that it takes.

Having said that, I have not change the magic number to see if this would overcome this problem to trade two different currency at the same time. That I will need to try it out this week. The manual states that, forex rising only trades on EURGBP and USDCHF. Since I have a lot of EA on EURGBP, I though USDCHF must be equally represented on my account. So… I choose to use USDCHF rather than EURGBP.

So that is the only downside or rather disappointment so far in my testing… It trades only on one account, one currency.

It’s stop losses level is also very acceptable at 40pips by default. If you take 3pips profit you need at least 15 straight wins to one loss to profit. I guess we shall see. It’s pretty much like EA Shark with the differences that EA Shark has a profit level of 8pips and it also shorts the market.

Now I have checked the codes and well… I must say there are no parameters to say that it must be traded on only these two pairs. I think I will try to demo test EURUSD and GBPUSD. So if I can get my hands around this error as shown above, I might test out forex rising on these two currency pair.

Hopefully it will continue to be rising profits for me… :)

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