Catching Up

Filed Under (Journal) by Casey on 29-12-2013

After being on  a ‘low profile’ things really change isn’t it?

I was looking at my blog and was thinking of doing some house keeping. Links, plugins, banners etc etc…

So out of date in just a few months… Technology really moves fast.

Anyway… one of the first links that I put up was 4xproject.com. Seems like they have also closed shop for good.

So sad… it has become a slum site for advertising…

4xproject

Even botfarm.com a guy who was toying with bots for both forex and casino kind of made that site to a parking site…

botfarm

Brit!!! Where are you?!? His latest post was dated 19 February 2013…

eareview

Forex EA is dead!!!

crying smiley

MyAccount01
Beautiful … No??

Not dead yet as long as I can help it!!

smiley

Just Dragging My Feet

Filed Under (Journal) by Casey on 27-12-2013

unmotivatedI know I should be doing something with my forex activity, but I can’t seem to find the motivation anymore since my last post in March 2013. Wow! Has it been that long?

While frustrated and sad, it seems that the my interest with forex EA has kind of took a ‘chilled out mode’. I currently have 2 EA running on my account at the moment without much interferences but much can be said for the return I am getting. I have removed 3 other EA and am still contemplating on what to do next.

Much can still be done I suppose but just feeling unmotivated.

However, recently I took a glimpse at my account performance and this seems to have put some light in me.

Beautiful no?

Still don’t know what to do next… But.. hey… looking at this just brighten up my mood a bit.

smiley

Hard Reset II

Filed Under (Journal) by Casey on 21-03-2013

My… how time flies.

It’s been a while since I twiddle in forex EA. However, while I am down, I am not out. Hmmm… I think in my case, I am out but not down. Maybe slightly down.

Just wanted to say that I have been away coz I had to prioritizing my life a bit. Kids, work, home, etc etc etc. All my other escapades even my own hobby had to take a back seat.

Now that I am completed some of my work and have some spare time, thought maybe I catch up with forex EA again.

While I did not turn off my EA, I actually let my EA run since August last year till March this year. So it was actually 7 months away leaving my forex EA to run without much interferences.

If going by some of the marketing gimmick of forex EA, I should be like a gazillion-aire by now. But alas, that didn’t happen to me.

During my time out… I had 5 accounts running live without me monitoring or touching the settings. I just let it run it’s course and see where it takes me.

  1. FXOpen – Lovely Megan
  2. Alpari 1 – Primeval
  3. Alpari 2 – EA Kain
  4. Pepperstone 1 – Scalper Pro
  5. Pepperstone 2 – EAKain & Hyper

I have yet to really updated most of these account on myfxbook to see how I fair. But safe to say I have been hovering around the same level that I was 7 months ago with the exception of Lovely Megan. That account finally died on me and it took like 4 years to do it.

After 7 months away, I think it is again about time I do another hard reset on not only on my account but also my blog site.

I probably need to remove certain features from my site and probably see what else I can continue to share on my blog.

I had a look at my previous post in June 2011 when I hard reset the first time [http://bestforexea.com/2011/06/hard-reset/]… being all philosophical and such in that post which in some case prove to be true when I said that hard work is the way forward.

Leaving my account with only 5% of my attention does not breed success. Anyone who has the though that making money without effort are just plain ignorant.

Anyway, they say trading forex is a journey and you never quite reach your destination until you reached your goal. My goal is still far away… and so I hard reset myself for the second time and continue on.

 

 

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.

Think Big, Trade Small

Filed Under (Journal) by Casey on 31-07-2012

That should be the way.

If you haven’t read this book “Think Big, Act Small”, you should. While it does not have anything to do with forex trading or it may not be all that relevant, to a solo trader, it does however provide some idea on how to do things.

It took me quite sometime to figure this out, but I guess better late than never.

Over the years I have been dabbling with EA hoping to make some money from forex. I have tried different ideas, different strategies, different EA, different brokers, different everything. And I guess I have no where close to success.

I have been fortunate that over the years, this website of mine have at least cushion some of the blow which I have experiences over the years. Gave me balls to try out different things in a very extreme case.

Of course one of it was my famous Martingale escapade. Until today, I am still drawn to it and it is a very expensive hobby if you ask me. So while I still have an itch to scratch with Martingale system, I guess it is time for me to put some medicine on it and reduce this itchy feeling.

Lovely Megan is still alive and kicking and trying to make some ‘cents’ out of it until it bust me up finally. I have recently testing this on Instaforex just to see of a 1:1000 leverage helped in my Martingale escapade. So far it has not been encouraging.

I have also started to test another Martingale ea, I have been unsuccessful again… but recently, I stumble upon a broker which would probably help me in this case.

Anyway, those are the two Martingale EA that I am toying around with. Apart from that, I think that would be just about as much Martingale as I can take for this life time.  I was previously enticed to take up Forex Envy… but after calculating the cost and contemplating on my fear. I decided against it. My thoughts were, if you can’t afford it, fu(k it.

$400 a pop plus a quarterly fee of $40 plus a $400 account to begin with. Is just too steep. Might as well I continue to focus on what I have and optimize it.

Anyway, apart from that I have been going back to scalping EA… and apparently it have been pretty successful this far. *KNOCK ON WOOD* I always have this jinks whenever I start blogging about how an EA have been ‘successful this far’, I get a big drawdown on that account after that.

It’s shitty… I guess that is the reason why no one actually talks about their successes over and over and over again. When shit happens to their account, they are quiet like a mouse. Like me!! Hehe..

Anywayzzz… I started to look at things in a bigger way but started to trade small and not trade like what the manual suggested to trade all the 9 to 10 currency pairs. I now if possible only trade with a maximum of 4 pairs and grow from there.

Over the past few months, not only have I work hard on my current day job. But I had also work night on my forex escapade… Reading and learning over and over and over again. Trying to be in tune with the great god of traders… and work on my private style of trading forex ea.

It’s long and tedious. And one must need patience. Without patience there can not be success.

This is one of the reason why so many people fail in trading forex EA. They think that forex EA is a plug and play solution to living the life of Bill Gates.

The only people laughing are the forex ea developer, forex broker and the forex traders. Without sheep’s like me… how do you think they earn their living?

And so… I begin my transformation from a sheep to a wolf… So that I can get my fair share of forex meat. The idea that I can be successful in trading forex ea is still alive in be. But I believe I need to take a few notches of my gear and start looking to trade small. Even if I am earning peanuts to every trade, I believe in the long run it should work…

As always… let’s just see how this transformation will turn out.

Forex Jealous

Filed Under (Journal) by Casey on 08-07-2012

I have been laying low for a few weeks now. There is a reason for that. Not only… as usual… busy with my day job. I was working hard on improving Megan. My now considered personal Martingale EA which I am currently recoding it.

Ok… don’t know if it was jealousy, but Forex Envy did kind of encourage me to or work on Lovely Megan more. I previously mentioned before that, Martingale strategy could be successful if applied properly. And Forex Envy did kind of beat me to it.

Yes, people will say Martingale EA will fail, in due time. And the key word is always ‘In Due Time’

But then again… For this matter… ALL EA will fail in due time. No? If not all, most of the EA…

Anyway… to go back to this topic here. I was also pretty put off but yet intrigue by how Forex Envy has structure it’s business. Firstly the EA is gawd dang expensive. $379, but there is also a quarter subscription fee of $39.

I was like… $HIT!!! I am not going to dive into such an expensive EA with a risk that it could probably blow my account in one blink of an eye? Ok… truth be told, I wanted to invest in it… that was when I thought it was going to be a one off $379. But when I saw that there was going to be a subscription fee. I said probably not.

Now Forex Envy does offer a PAMM account, so if you don’t want to invest in the EA itself. If you don’t want to pay so much, then for a minimum investment of $500, you can take a ride with them. And looking at the stats of their PAMM account, it is pretty successful.

Now, that I could probably participate but rather than focusing on Forex Envy, I thought it would be a better idea to focus my time and money on improving my own.

In due time… Lovely Megan will again shine!! And this will be my answer to Forex Envy…

How to Improve Your Forex Trading Skills

Filed Under (Journal) by Casey on 25-04-2012

If you’re keen to improve your success rate within the world of forex trading, then there are certainly one one or two things which you will want to bear in mind. Here are just a few points which anyone looking to become involved in forex trading should consider.

Firstly, you may well want to consider investing in a reliable Forex advisory software or system. Of course, this is not essential, but many of new traders find that such systems can be extremely helpful in identifying changes within the foreign exchange market.

You will also want to make sure you have a good knowledge of the worldwide economy. Although this won’t always affect your trades, it sometimes will, and can prove essential in making sure you spot trends and changes in time to be able to benefit from them. Don’t automatically assume that your previous financial experience will mean you are well-equipped to start trading on the foreign exchange market. You might have an extensive background in trading in commodities via sites such as Bullion Vault, for example, but you will need to brush up on your understanding of Forex before attempting to start trading within this particular arena. Without doing so, you will run the risk of encountering significant losses.

However, even the most dedicated and experienced forex trader will be likely to make mistakes and losses at some point during their trading career. The most important thing for anyone who is keen to improve their trading skills is to learn from such mistakes, ensure that they don’t make the same errors in the future. Never attempt to regain any losses which you have made by making risk-heavy trades, which may not pay off. As a forex trader, you will need to learn to be both patient and disciplined with the decisions which you choose to make.

This article was written on behalf of Bullion Vault

It’s Sexy and You Know it!

Filed Under (Journal) by Casey on 10-04-2012

Once in a while I do go to Brit’s site (EAReview.net) to see what he has been up too… I mean one of the few sites which blocks out all the noise and hyped up talk about this EA being the best that EA being the best only to see if flatter from the face of the earth.. His sites shows you like it is…

Anyway while sucking up to Brit is not the objective here, I notice that he did something different. To my surprise in March, he started to feature EA’s which by his own admission, he mentioned that he does not toy around with these sort of EA. And which sort of EA is that? Grid and/or Martingale EA.

Man he is really cramping in on my ghetto… I mean… I am suppose to do all the martingale testing here. Not him…

Ok… I was just kidding… He can review whatever EA he pleases but gird/martingale EA? That is not like him, Volatility Factor EA (grid) and Forex Envy (martingale) were featured on his site.

Yes, he was the kind of person who would look at an EA, backtest it and describe the strategy behind that EA and if he thinks that EA has a sound strategy he would put that EA live. But again… Grid and Martingale EA?

I am still taken aback. So what does that say about the forex EA market??

Don’t know… I think I mention before in one of my post that Martingale EA will soon claim it’s place on the EA market. Why? Because most of the strategy EA sucks… Only a few of that EA probably stood the test of time. Probably Brit’s site will tell you which one it would be.

I mean… just the other day… Another long time EA trader commented on my previous post, that a new Martingale EA is in the market… Drive Expert Advisor

Having another guess on this trend is that, people have probably wasted a lot of money on all the other EA (non martingale) that they now believe it is time to give Martingale EA a try. Don’t know… I’m just guessing here

OR!!!

Martingale EA is sexy and you all know it!