Cutting some Bling

Filed Under (Journal) by Casey on 15-10-2009

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After some thought I finally decided to leave Cyborg as it is and focus on other things that I have in mind.

So in parallel, not only am I toying with old ideas, I had to take some time to really a closer look at Forex Bling. Since I was on the roll backtesting since two months ago… I thought it would be nice to backtest Forex Bling…but wait… You can’t backtest Forex Bling’s EA…

The EA or developer does not seem to have written the code in such a way that would allow end users to backtest it… pretty $hitty no? Something to do with the dll files that pings back to their server…

Only way to protect their codes I suppose… But what to do? It’s his credibility on the line… and I don’t think that they are going to screw it up by selling people inferior product no? Or I am going to be wrong about this one…

Anyway, while they do not allow Forex Bling to be backtested by individual, they do however provide live statements to all the broker to ensure that their EA will work with all broker.

They also do provide their backtesting results… and on top of that their live statement on MT4Stats.com

http://forexbreakthrough.com/development/our-forex-expert-advisor/

From the graph and results, the profits for these EAs are kind of rough don’t you think?

Since we or rather I can’t back test any of their EA (except for Factual), I had to find out for myself the right currency pair to trade the old fashion way… looking and cutting into the bling to make it look better… :)

From their website, these are the currency pair they recommend on each EA…

Evolution EA ~ EURUSD, GBPUSD & USDJPY
Freedom EA ~ AUDUSD, CHFJPY, EURJPY, GBPCHF, GBPUSD, USDCHF
Thunderbolt EA ~ EURUSD and USDGBP

Looking at the whole sha-bang of currency pairs above, I doubt that I will want to trade all of it… So I did a simple exercise to find out the best currency pair to trade.

I extracted from their live account and tabulated the total net profit for each currency…

Now thunderbolt was easy… in their live statement they only traded EURUSD… So that’s a no brainer there…

http://thunderbolt.mt4live.com/

But what I am concern about is their Evolution and Freedom EA… Their equity curve is not as impressive as Thunderbolt…

http://evolution.mt4live.com/
http://freedom.mt4live.com/

So here are the result of my extrapolation exercise on to my excel spreadsheet…

bling-evo
EVOLUTION RESULT FROM 11 JULY 2009

bling-freedom
FREEDOM RESULT FROM 22 JULY 2009

Not all currency pair are doing well for forex bling is it…

With that finding… I subsequently only trade Forex Bling on the currency pair as such:

Evolution EA ~ EURUSD
Freedom EA ~ AUDUSD, CHFJPY, EURJPY & GBPCHF
Thunderbolt EA ~ EURUSD

NOTE: At the time of this writting I written to forex bling to ask them about CHFJPY. When I try to attach the EA to this pair… I got a reply from the server saying that it was not an optimize pair… Funny… will try to get more clarification soon…

So… I do hope that I will be able to make EA bling even brighter on my account soon…

bling-beforebling-after

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