The Bite out of the Pocket

Filed Under (Journal) by Casey on 08-03-2011

Just a couple of moments ago… I published my ‘Deal and Store’ on FX-Pitbull. And it seems that Pitbull is taking a bite out of the Forex EA industry…

It’s just gruesome…. It use to be $199 but not it’s $799!!!

Either the developer is crazy and would rather make one sales at $800 then 4 sales at $200…

Or this EA has been around for a long time and the developer is confident of it’s performances.

Now I have no issue wanting to push this product… I use it and it seems to be yield some interesting results.

In my previous post about Pitbull, I wrote on how I first blew up my Alpari account on Pitbull (The Bull is Down in the Pits) and then I did a second try… with a smaller lot and here is the result…

You will notice that I started this demo in September 2010. It was these results that goes against my better judgment to put this live on my GoMarket account. And it mean it really goes against what I have wrote, done and research about Martingale EA over the past year…

So in order to see that I did not misjudge my own gut… I put Pitbull on my FXOpen account to trade on a nano account.

And here is the kicker….

Base on both these results above on my demo account I have actually put Pitbull on both my FXOpen account (Lovely Cheryl) and GoMarket account (G’day Mate).

And it seems that Pitbull is chomping better profits on GoMarket then on my FXOpen account

http://bestforexea.com/2011/01/lovely-cheryl/

http://bestforexea.com/2011/01/gday-mate/

Ok… I had to fu(k about with Cheryl because the drawdown was pretty scary last month… Still… how do you explain this?

I took a closer look at both my demo account… Mind you… All condition, settings and currency are the same. The only differences is that Alpari is on a 0.01 standard lot while FXOpen is 0.001 standard lot. So the performances should be a factor of 10… but on the demo account it does not seem to project that.

I can only make the conclusion that Pitbull can perform better on Alpari and GoMarket compared to FXOpen.

I guess Lovely Cheryl will be second best to my Lovely Megan who continues to push further with an added EA addition on that account which I will blog about it soon.

Now I know that Martingale needs to be traded on a nano account because of the nature of Martingale theory we need the high leverage where only brokers who offer nano account might accommodate high leverage (1:500 or 1:1000)

But for Pitbull… it is shown that it does not seem to work (at least on FXOpen) so putting it on a micro account could be suicidal to ones account.

So my objective here is in order to protect my capital… I need to achieve 100% profit within the span of 6 months. Now it’s a long marathon… but once I do reach that mark. I’ll probably need to withdraw my capital. And most it to another account. And allow my profits to run with smaller profit target to be withdrawn…

In summary… I am risking my capital for 6 months before I can take a breather. @$2000 capital… achieving 100% return on a 0.01 lot seems possible as my demo Alpari account has shown. And my GoMarket seems to be moving towards that direction with the help of a few scalping EA.

There you have it… my strategy for my GoMarket account toying with a Pitbull… So I am running with time here.

Will this mutt catch up and take a bite off my ar$e?

I’ll let you know in 4 months time…

And by then probably $799 seems to be justified… If not… Well… that’s forex ea for you…

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FX-Pitbull now selling at $799
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