Casey I feel your pain
I also turned £6000 into £1000.

But now I have learnt the lessons and I am back starting again with a more conservative approach and only EAs that perform well.

Since then I have had two weeks with small profits, but profits nonetheles.

Just keep learning and adapting your trading until your find the way to profits.

Currently this is my setup:
FAPTurbo 47: 3 charts of EURCHF
21 to 22 70 lrr
22 to 23:30 15 lrr
23:30 to 5:30 3 lrr

GBPCHF 1 chart
21 to 22 15 lrr

no EURGBP no USDCAD

Megadroid Pro
EURUSD 1H at .6 risk
EURCHF 1H at .01 risk

Forex Grail
EURGBP at 0.01 risk
EURCHF at .1 risk

Your_lucky
EURCHF at 30 risk, 3 trades max

Thunder4WD
EURCHF 5 min at 40 risk, 3 trades max

Eurblaster
agressive settings, no trade 3 days before NFP

Forex monster
EURGBP 0.2 lots

EA Boss
EURCHF 15M 2 hours behind GMT so it ends earlier

Primal Silver
EURUSD 1H no trades yet

So this is my current set up, very conservative, I am 13% up in two weeks. just some patience and perseverance.
Stick to it!!!
Best wishes

Interesting comments about FAP Turbo Evolution. I purchased FTE and have been testing on demo for 10 days. Like you said, it’s nothing to be proud of. My 10K account is at 9.9K. The ECN broker is Dukascopy. The idea for using an ECN was to foil the bucket shop’s increase in spread. That has been accomplished! The spreads are very low. However, the liquidity is also very low during the FTE trade window which translates into orders not being filled when TP is hit. And this is just on demo. Not sure what it would be like in a live account. I haven’t seen any live account results posted yet. Must be a reason … could it be that they are waiting for the 60 day clickbank guarantee to expire?

i would advice you to disable eurgbp and probably gbpchf in your evolution demo

this is because fapturbo47=fapturbo evolution and the same pairs should be avoided and the same settings should be used

To airplus how do you manage to trade an ea that uses 300 pip SL,
verily verily i say unto you , the profits are artificial and when the SL is hit you would have something to ponder

Well Casey few comments: July and August are well known as “better not trade cause you will loose your money” time.
People are on vacations and the market is being manipulated by all kind of activities that can’t be controlled or tracked down to logic.
However, as an experienced an widely acknowledged expert in the field of my expertize, I can tell you that so far I haven’t seen a real smart EA. One that is agile, responsive, contain some intelligence, have learning ability, and profitable in the long run.
All are some derivatives of a single logic concept that hold true for some specific short period of time – either during the day, week, or season.
None is really too trusted. None will let you feel confident when you push the “Expert Advisors” enable button. Tell me if I am wrong.
Some contain logic when not to trade – as their trading rule base is so limited that if you dont impose limits it may fail.
I have taken education in trading systems. I have a diploma, a piece of paper that my training instructor printed in his office saying I learnt successfully his system.
Aparently – it work. Not all time, not every time. But it has some logic.
It rely on many parameters – altough the basic is simple: Support and resistance levels, Fibonacci retractement, Markets correlation and moving averages and so on.
All toghether with their logic and rules.
So far – No EA has come even close to implement some of those rules. Typically – EA have a trade entry signal logic, and order manangement. SL is fold times away then TP. So you are guaranteed that one SL hit will wipe out days and days of successfull trades (Cyborg case).
I come more and more to the poinr where I face the need to developp my own EA. I am not the best programmer – but I see the bettter one doing poor performing EA’s. So what the fu)kc, I can do better.
I told you before- if you hold your stomach when EA enabled is activated – you are wrong doing my dear friend.
The time I spend analysing and testing others EA’s – I could have written mine.
I am collecting a set of tools to start doing.
I am going to use mql – just for interraction with the market. The logic could be written in external system – and commands transfered to the MT4 platform in many ways. that is to bypass the limitations of a primitive language system.
At present time – Altough I have most of known EA’s under tests – none has made me confident to let it work. Oh, just two actually. Two are long time proven to be trusted. they are the only one that I allow to manipulate my account at present time. I know exactely their risk level, Their ability to provide profit and induce losses. And still – They do not adhere to my expectations.
They are not yet fully finished, and as they are commercial – I cant interfere in their logic to improve it to my needs.
That is why I see the need to do it myself. Maybe – as others have done before – Forced need to be joined. Some synergy need to take place.
This is where I am heading – and soon the ship will sail. Preparations are underway.
If – with all those EA’s on the market – we fail time after time to make money – something is really wrong. We are mislead or even worse – dont need to say.

I am glad to see this discussion. I’d like to add two things. 1) I trust only TradeStation EasyLanguage when backtesting a system. Very precise. Unfortunately TS platform is terrible for trading forex (clears through Gain and is very slow in executions). 2) FapturboEvolution is doing a terrible job on its post-sale. The member forum is nearly irrelevant at this point, as the authors of Evolution will publish its live account only on a monthly basis. The day before I read Casey’s view on Donnaforex’s lack of information, I too had gone to the site and noticed that there is a gag order in place. Customer service is crucial in the hours after purchase, and they blew it this time.

I feel your frustration. Back testing and demo forward testing is a deep deep rathole. I can “engineer” a system that will backtest perfectly and I can have the same system run on live and demo with completely different results.

The conclusion I have come to now is to only buy EAs with a link to some lengthy live results that you can pick through and analyze yourself.

And lastly never buy an EA that is new on the market. Give it a few months for others to shake it down (never believe the marketing spin crap about only 100 licenses left).

I feel the same..I think 2012 dooms day is in near future..fuck…

Hey Raanan .. what are the 2 EAs that are ‘long time proven’ and you trust?

LOL…..don’t expect to make money if you,
don’t have years of Qualified training & trading experience…

as I stated in my previous post …….the only people who make $$$ are the EA developers + Bucket Shops…

I’ve moved on, long ago from Forex, Futures, Stocks, Bonds etc… [Trading in general]……………to something much better…….

Oh….. and I suggest people have a gander at a TV series called ” The Ascension of Money” ……very informative…….

Hey Casey, sorry you hit a wall (temporarily). I did the same, on roulette, poker, horses as well as forex, all at the same time. Fortunately the same optimism that got you into this game in the first place is going to get you back in the saddle (actually it already has, judging from your more recent post). Good luck, you’re doing a great job.

@MartyGale… I am interested on how you got your hands on the codes…;)

@airplus… thanks for the share… I might try out some of your settings once I again get my house in order

@Raanan… as always your comments are very welcome. yes… I am looking also do start developing my own EA… first things first… learn how to reverse engineer an existing code… the fastest way for me to learn programing… Good luck Raanan… if you develop a good EA i want to get my hands on it… :p

As you point out… with so many EA, but yet not one that have come out and CONSISTENTLY proven to make money… then something IS really wrong. The best thing… develop ones own EA

@Joanbucks… I too heard that TS is a better platform at backtesting… don’t know why i never took a closer look… maybe because it was not as popular as MQ4…

@Caprica.. thanks for the advice. I am beginning to feel that backtesting these commercial EA are a total waste of time as it does not seem to serve any purpose if one can not either tweak it or optimize it at every stage where and when it is not performing or no longer valid…

@nameblank… well each to it’s own isn’t? good luck in your endeavor… and must take a look at this series you are suggesting… is it on youtube??

@Saucebook… thanks for the support… like you i am still in the game….

Phew…..

Hey Casey,

I would like to share how FapTurbo makes the money. They are not making money from the EA trading, I really doubt if they are trading the with the EA. But the sure thing is they make money from the selling of the EA, and monthly hosting VPS. Also, they are IBs of Forex Brokers, e.g. FXCBS gives REGULAR IB $2 rebate(25% of the total commission), FapTurbo is Goddamn sure having a special deal with FXCBS, 40 even 50% rebates of the commission is very likely. When FapTurbo started, they also contacted Alpari US to become their IB, which was rejected coz Alpari US did not have IB programs back then.

To sum up, DO NOT trust FapTurbo, they are marketers, not traders.