I Have a Dream!!

Filed Under (EA System) by Casey on 12-07-2010

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Forex Martingale Showcase V – Martin Locker King

I have a dream that one day we can see profits in our account utilizing the best technology in the forex industry that is the forex expert adviser and live happily ever after…

Siggh… how I wish it was that simple. And like the struggle of Martin Luther King, IT AIN’T GONNA BE EASY, as I continue to search for the best ea and profit from it…

Coming back to showcasing this other Martingale EA…

This EA came from the same developer as FX Pitbull. As the same story goes, the developer was kind enough to issue a free copy of this EA to me. And as the same story goes again, I have tested it but never got around to post anything about it until today.

I’m going to go straight to the point…. This EA is damn expensive compared to Pitbull… $399 vs $199 and this EA only trades ONE currency pair vs Pitbull ALL currency pair.

Took a quick look at the codes and I believe that the algorithm between both MLK and Pitbull are somewhat similar… but it seems the both the characteristic of the trades differs between both these EA.

While I do not understand the logic behind this… I thought it would be interesting to do some analysis.

Now backtesting is pretty simple if you ask me… one currency pair EURUSD over 10 years…

It came very close to 2009 before it took a nose dive.

However… comparing his backtesting results showed some mighty interesting discrepancy. Either my history data is crap or his history data is crap.

Start looking at his backtesting entry no 7846 19 December 2008 00:13 and if you click on the graph… you will see my backtesting statement. Check out my entry no 6532 19 December 2008 00:02.

Somehow or rather… his backtesting over 5 years did more trade then my backtesting which almost did 9 years. I am not sure but there seems to be some inconsistency between his backtesting and mine.

It is because of this discovery… I kind of realize that my approach to this whole martingale strategy with backtesting could somehow be flawed.

While I still have the dream… my current direction is lost.

I think I need to rethink or even go back to the old drawing board… :(

While I rethink my next approach… Let’s just sit back and see how it perform on demo using a very conservative approach.

So far so good….

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