EAKain Scalper Pro

Filed Under (EA System) by Casey on 25-08-2012

Coming back to EAKain, after some episode with EAKain on my blog some 2 year plus ago…

I thought I revisited some of the sites to see what was happening to EAKain. I mean, it was an interesting EA but due to some bad publicity which I have to admit causing some of it. Call me an old fool, but times changed and circumstances changed.

Previously, I have actually done some test between Primeval and EAKain. And just recently, I again tested both these EA out. Why I revisited these old EA? Well… probably because I did not really tried it properly on an ECN account. I mean they say that scalping EA works best on ECN account.

Having said that, I am not sure if Pepperstone Razor is a ‘full’ ECN account because in the past, to open a ECN account you need big capital. And of course at that time, poor little old me does not really have that much money to toy around with. Pepperstone Razor had a very low entry requirement of just $200.

I guess as time goes as more and more broker starts to pop up into the market to attract retail forex traders, and these brokers try to out do themselves by offering different account type while lowering certain requirement. Spread become tighter, 4 digits become 5 digits tick, micro account and even now nano account seems to exist.

While I believe I have digressed here, the point I wanted to put forward was that, I did not have the avenue to really see if those two EA work on an ECN account. But now it seems logical for me to test it out now with the lower requirement of Pepperstone Razor account.

Anywayzz… back to the story I wanted to tell. As I was doing a search for EAKain. I found that the site no longer exist. It is now a parked domain and even forexpeacearmy has said that BestEAForex.com has ended testing and the sales of the EA.

I did some searching and I discover something interesting… Apparently there is someone selling it and there were two new versions. 1.05 and 1.06. (I am using version 1.04)

After checking with REGNOW apparently this company FXBanking Inc (www.olykit.com) is actually selling EAKain at US397. It also seems like that guy has a wide portfolio of products.

Take a closer look and you might see that some of these EA are actually old products that were actively sold or marketing like there was no tomorrow.

If you dig a bit further, you will see that this guy is taking old product and selling it for it’s own. (One of his product portfolio was CloveriX)

Then again… It could be the same guy who produce all these interesting EA. With the internet you never know…but highly unlikely.

I guess since the owner never complain to RegNow for infringement of copyright. I guess he is free to do with whatever he wants.

Anyway, if anyone is interested in EAKain Scalper Pro, just do a simple search and you can still easily find this EA available free for download.

Here is another interesting part. His website is much more popular than mine. This Alexa ranking is like 620k while mine is 1,200k.

Which goes to show that his site has a lot of traffic and probably does make some interesting sales.

But……… I guess his target market are suckers…

 

Hyperly Kain

Filed Under (EA System, Journal) by Casey on 23-08-2012

Don’t know if I will jinks this account… but these sort of milestone which I thought would be nice to share.

Early this year, I tested out Hyper EA (http://bestforexea.com/2012/01/hyper-hyper-hyper/). Now this EA is pretty slow and it only takes like 3 trades a month or so. Furthermore, this EA was provided free to me and it was only confine to only one currency pair which was EURCAD. (Note: The price has changed from CHF199 to USD99)

Anyway, below is the snap shot of my account:

Apart from the initial hiccup, which was due to the time correction change, Hyper EA seems to be doing relatively well. Since that day of that writing/post. this EA developer has really grew a wide range of services apart from selling his EA. Now there is Hyper EA Pro (USD149) which trades up to 7 currency pair. Plus he has all these services like managed account, trading signal all that… Pretty enterprising…

Anyway, because it was like moving like a snail, I thought it would a good idea to test out some other scalping EA. However, going by the principle then that I was going to think big and trading small, I tested Primeval and EAKain on only EURUSD sometime around March 2012.

Primeval EA

———————————————————-
EAKain

As you can see, that created a ding dong on my account. But the clear winner from that race was EAKain. Before I continue further, EAKain was base on MegaDroid EA which apparently is still in the market was build base on EURUSD. (By the way this EA is now selling for USD67). So there is no wonder that EAKain was doing better than the other two EA.

With that in mind, I started to put EAKain full time. On top of that, I continue to start small and put it on EURGBP and USDJPY.  However, recently I did some research and found out that not only EAKain work better on USDCAD, USDCHF and USDJPY.

At this point in time, I am still contemplating on whether I should add this two currency pair of USDCAD, USDCHF.

This goes against the principle that I have set for myself. To trade small and to only focus on a maximum of 4 currency pair. History seems to repeat itself for my account that when I start to be a bit more ambitious with account… it starts to take a dip.

Hmm… maybe I should half my trade size to accommodate these two new currency pair… Same risk, but profit might be reduced. Maybe one step at a time or rather one currency pair at a time. I should maybe put USDCAD for about a month or so and see how well it works.

I might regret doing this, but probably I might regret it more NOT doing this…

Anyway… if you are interested to continue to track this account… just click on the graph.

2% monthly is not bad I guess… Think Big… Trade Small… 😀

Forex Money Alert

Filed Under (EA System, Journal) by Casey on 15-08-2012

Ok… took me quite a while. But finally found the time to write about this site.

ForexMoneyAlerts.com

This breed of sites seems to be an alternative to selling EA. The way it works is that you open a broker under their affiliated link and either the EA developer provides you with the EA, or the EA developer will forward to you an EA that copies it’s trade.

Well, you can rest assured that not many people will be testing this sucker out or do a major review on their site. One things for sure… there are no affiliate system provided by the site owner, so not a very good incentive to ask people to promote the site.

Anyway, this is not the first site that came up with this model. Euronis I believe was the first… They started with selling the EA, then after that the moved to this type of model, which seems to be more preferred. HyperEA seems to also adopt this model, but they also adopt the selling EA and also PAMM model.

Coming back to FMA.. Now out of so many broker, this site choose to affiliate themselves with YouTradeFX. Did not really like the broker after my previous encounter. But I am already involve so… no point crying over spilled milk. Most probably YouTradeFX offer a better commission then the rest of the other brokers.

The result seems to be impressive, however I can not find his result on myFXbook. All those nice pictures were only for show. Not too sure if it is fabricated or not.  However, I manage to see his result on MT4i.com (http://www.mt4i.com/users/fma-2/stats). That to me was a bit weird.

I can’t remember how I manage to stumble upon his site. But when I was browsing through his site, (not sure why) I thought his EA was a scalping EA.

But reading through ForexPeaceArmy.com (http://www.forexpeacearmy.com/public/review/www.forexmoneyalerts.com) Some of the comments mentioned that it was a Martingale. (Ahh… sweet sound to my ears). I did say I did not wanted to doodle myself with Martingale anymore with exception to two EA that I am currently toying with.

So I requested some clarification from the owner. And the owner replied that it is a ‘cascade correlation algorithm’.

Phweeettt!! Fancy name if you asked me. But the word cascade in my mind is grid and this is base on the few trades that it has taken which of course fu(ked me up because of the lot thingy…

As of this writing, after I have solve the position size problem. I am still stuck with two trades and it seems that that trade has been going nowhere so far.

So, if anyone of you are interested to test this out. Here is some of things you have to be aware off.

  1. Ensure you open a mini account and don’t try any fancy stuff like me trying to opening an ECN account with a very young broker such as YouTradeFX.
  2. Ensure that when you get your EA, in the property window,  set your MAX lot amount to 0.1 and if it trade more than 0.1 lot. Close the trade and complain to the owner than complain to ForexPeaceArmy.com

Only way to ensure that your account is protected while testing…

On a separate note, I think I am going to take the advice and complain to ForexPeaceArmy about YouTradeFX first and see if I can recoup my lost trade due to wrong information provided on their site…Then probably FSA…

YouTradeFX = YouPay for their stupid policy

Filed Under (Journal) by Casey on 04-08-2012

I rarely write about a specific broker. And if I ever do… It’s going to sound something like this.

Have you heard of YouTradeFX.com? Well, I haven’t until I bumped onto this site, which provided a free EA if I were to sign up under their IB link. And this guys IB link was to YouTradeFX.com

Now being a bit matured in the forex market, I know I had to do some background check on this broker before I decide to test out this EA from this guy (which I will be putting my thoughts about it in another post)

Anyway, after reading both myFXbook and ForexPeaceArmy about them, I thought it would be alright if I was only going to deposit a couple hundred bucks with them.

Now if you go to their site page on account type, http://www.youtradefx.com/en/forex-account-type. You will see that under the ECN type they from 0.01 lots. (I took a screenshot to just in case they change their site and they better gawd damn change it).

Here is the catch, in order to utilize this micro lot at 0.01, one needs to MAKE A REQUEST! I mean what the hell is this? If you state there 0.01 lots, shouldn’t that option have been already enabled?! This is pure BS when their customer services mentioned that because some of our customers have big account and do not want to trade micro lots.

Give me a break! If I had a big account I do not mind if the option is enabled. I will base on my requirements and continue to trade 0.1 lots if that is the minimum lot I want to trade.

Where is the logic in that?!

Screw this man… New brokers are sometimes shitty… and it takes guinea pigs like me to find out the flaws in their policies.

Below is the transcript between me and the customer service personal.

 [03 August 2012 17:30:10]
A representative will be connected, please be patient.
VIP Service enters the chatroom.
Casey 17:30:34: My account number is 133371. I just recently set my account to ECN
VIP Service 17:30:40: Welcome to youtradefx! How may I help you?
Casey 17:30:43: does the account trade micro lot 0.01?
it says in your website http://www.youtradefx.com/en/forex-account-type that it can trade from 0.01
please advice…
hello…
VIP Service 17:34:11:In order to make it micro lots enable I would need to change some settings
for that I would need your account to not have open trades at all
Casey 17:34:43: shit!!
i can’t close the trade now
because the EA is at work now
sighh……..
i thought it was already enable to trade 0.01
now it’s close to blowing my account
first off… if you are going to advertise that it can trade from 0.01… you better have already gotten that enable. instead of asking the customer to request for it
VIP Service 17:37:25: I am sorry for the inconvenience
We can not automatically allow this because some investors have bigger accounts
For that reason we enable this by personal request
Casey 17:38:41: then please put a small foot note on your site!
that is so gawd damn misleading…
VIP Service 17:39:56:I am very sorry again
Casey 17:40:25: sorry can’t bring back the account now…
only prayer…
with this… please ask your IT guy to change the gawd damn information on your site!

Please tell me that it is my fault for not doing enough due diligence… If it was my fault that what else was I to ask when the website clearly says 0.01 lot on an ECN account they they offer.

If it wasn’t for their 50% bonus… My account would be fu(ked. I took a big hit on this so that I can retest this EA out again to see if there is any chances of recouping my losses.

By the way, the hit took out my deposit first before it takes out the bonus. So I am down nearly 200 bucks because of this BS…

Sigh… I will admit if I lost this 200 bucks because I purposely over trading… Then I should be screwing myself for my mistake. But when $hit like this happens… I can only blame the broker for their stupid arse wipe information on their site couple with a dumb arse policy.

If this was their policy than at least state it clearly! In a footnote or somewhere where a potential customer will be able to read and being made aware…

Anyway, what done is done… Just hope that this broker of an arse do something about the information they post on their website and also hope that other people doing their due diligence read this post so that they are aware of what YouTradeFX actually offers.

On the other hand, the EA developer who recommended this broker on their IB link should also be partly be blamed. They should have been made aware and inform their customers properly for the shortfall of their broker whom they are promoting.