After so long… I finally see something in the forex ea industry that I have never or rarely seen.

LIVE STATEMENTS from the developer. And I do not mean live DEMO statement… I mean live REAL statements… Own money to prove to the world sort of statements…

There are a lot of EA being churned out every other month… And I just could not be bothered about new releases because of the bad stigma and revelation that I myself have discovered. And mostly because most of these developers are ‘fly by night’ with little or no prove to show end users like you and me…

So because of all this BS… I kind of spend the rest of my time and focus on achieving my 2010 goal which is to build my own EA.

Having said that… I am still toying around with other peoples EA that makes sense to me.  But… not new ones…

Now let me get to the point here. Forex Crescendo.

Yes… I do not know why and how I stumble upon or even the real question as to why I clicked on the link to this site… But somehow… after visiting their site… this particular EA caught my interest. And the one very simple reason it caught my eyes was…

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Behold!!!

I have unleash the beast to cause terror in the forex world!!

Muahahaha…

And it feels goooooodddd……….

After weeks of tweaking and testing my EA. I believe I have achieve a milestone.

While I do not yet consider it complete, it feels good when one has created something that looks as good as this…

100% IN ONE DAY!!! With another 10% positive equity to spare!!

Gawd dang!!!

Is this a fluke?! Well… I hope not. But then again it probably is.

The thing is I believe I have perfected the core principle of the algorithm of this EA. Meaning to say… I have manage to write a program which improves the idea and principle behind my previous failed beta tests.

Did I improved it tremendously? I do not think so… One things for sure. This demo allows me to see if this EA swings as hard as my previous experiences with this EA predecessor.. Crashed & Burned

As always… time will tell.

At least I have started a new chapter in my quests… the next step for me is to start thinking of how to program it in such a way that it will manage and control this beast on a few more currency pair…

I am proud to say that I have achieve my second new years resolution… which was to build my own EA.

Ok… maybe not from the ground up, I kind of cheated a bit in my quest to achieve this goal. I took another EA, tweaked with it, add some rim, add some nitrous, change the engine to a V8 and add a coat of new paint. Voila!!! A beautiful masterpiece…. which I named it aQuila.

Initially I wanted to name it Megan Fox… but thought I might be sued if this beauty proved hotter than Megan Fox.

Anyway, I also added another ‘computer system’ to monitor this lean mean beautiful machine… This EA works in parallel with aQuila to ensure my account to get fu(ked.

I have been testing the main EA for about 2 months now and tweaking it here and there was not easy…

It all started with a busted account and myfxbook chart below shows my progress..

My first attempt[Note: Deleted the chart below because it is cramping myfxbook, this screenshot will be suffice for my journal record purpose]

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Demo Update

If you haven’t notice yet… My PITBULL demo is in the dumps…

Yes… that is what people would say… Martingale is dangerous. And quite rightly so… if one does not use it carefully.

There are two things I have to say there. One… and the most important point here is that I over trade. I traded 0.1 lot on a $2k account with a leverage of only 1:100. That is how I could yield a high of $3.5k  close to 50% return  over 2 months period.

Secondly, it seems that there is a bug in the codes. The EA seems to only go long rather than both ways.

I spoke to the developer and he says that something is not right because the EA should trade both ways. Looking at his myfxbook statement, he verifies it. So it’s either he forwarded the wrong EA to me which I doubt it…

Or… I might have done something to the EA. I mean… erm… (Putting myself in the corner here)

Ok… these needs to be looked at. Because I have actually put Pitbull in my lovely megan account. And it seems to exhibit the same traits.

However… in my Megan account, I am trading 0.001 (nano) lots on a 1:500 leverage and only trading 3 currency pair as per my backtesting results. While I do not think it will effect much… I still need to get to the bottom of this and restart the demo again…

Since now I have some free time, I owe Cacus a detail post about his rip-off EA.

I have to admit that I had to take a bit more time to really study this topic. It was a few months ago that I kind of stop these sort of ‘detective’ work. While it was good for my blog it was not so for my live account.

It was one or the other. Talking about scamming EA really boosted my traffic to the site. It was good and exciting to see an instant traffic surge to my site. And of course to keep up with the traffic expectation, I continue to dive into my ‘detective’ work only to find out that the my live account wasn’t as exciting as it should be.

So, I took a decision to stop or maybe cut down on these sort of work and focus on EA that makes sense to me rather than ranting about EA that is full of $hit. I must say… that was a decision I am glad that I made. Too much effort needs to be taken to do some research… and I though I would rather use these effort to improve my account balance.

Anyway… the industry seem to be able to regulate themselves with regards to rip-off EA. So why bother…

However… as a favor to Cacus who supports my site, I though the least I could do is put some effort in finding out the truth in all this.

So here is what I found….

Forex Legend offers two EA one is a scalper while the other is a trend EA.

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Phew… it’s been a long while since my last blog. Ok… not all that long about 2 weeks I have been MIA and will be MIA for two more weeks.

I am way way way behind time with my deadline. And I am talking about my day job here. So behind time that the light at the end of the tunnel… hmmm… I don’t think there is any light in the end of the tunnel for me here.

Sighh…. any huuu…. I had to take some time out because I wanted to help an acquaintance of mine. And of course inform my visitors.

It seems that the scammers are back in town…

FOREX LEGEND IS A RIP-OFF OF A FREE EA!!!

Ha!! Short and straight to the point.

Unfortunately, I am in a rush and thus could not do a real research on how it is a rip off.

But I have reason to believe the developer of the free EA himself. He was the one who contacted me and ask me to do a post.

And of course, a quick browse here and there kind of confirms this.

I probably will do another write up on this in more detail… but for now… take it from me.

It’s a rip off of Cacus’s free EA which you can download here.

http://www.forexmt4.com/Cacus/ (Raw download from the server)

I have to take my leave now and look for my light at the end of my tunnel with regards to my day job. Or else I am going to get fired!

So… just leave this EA alone and don’t part you hard earn money. Because FOREX LEGEND IS FIRED!!

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.

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Forex Martingale Showcase IV – FX Pitbull

Woof! Woof! Bark! Grrrr…. Bark! Bark! Grrrr… Woof!

Yes, I know Fido. I was looking at it when it was launched a few months back…

Bark! Bark! Woof!

Well… I did not look deeper into it because I was focusing more on Scalping EA… and not much on Martingale EA eventhough it looked interesting.

Grrrr….

I know… I know… the developer busted a few demos when he was displaying it on his myfxbook… Why do you think I put it my thoughts on this EA on hold?

Woof! Woof! Woof!

Ok Fido… why don’t you be a good boy and sit. Let me tell this story…

About three weeks ago… the developer made a mass email to a few EA reviewers to test out his EA by giving a free copy to them. I was honored to be one of them. So of course I had to take jump at this opportunity.

If you don’t know it yet, Pitbull EA and Martin Locker King (MLK for short) was developed by the same developer.

You can actually check out his myfxbook page.

http://www.myfxbook.com/members/FXTscalp

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Forex Martingale Showcase III – The New Megan EA

Now this is an interesting EA which I stumble upon. Initially I thought it just another Martingale EA, but I soon discover it was not your ordinary Martingale EA.

Why? Because this particular EA slice it both ways.

Most of the normal Martingale EA run on a basis of having a drawdown, while taking a fix small profit. And that is what I consider to be an ordinary Martingale EA. But what is not so ordinary about this Martingale EA is that it also does take the other way, which I will define this as the opposite of drawdown. This EA also have a ‘draw-up’

While drawdown means a -ve equity balance, a draw-up would mean a +ve equity balance. Hmmm…. somehow or rather I have never heard of a term which describe a +ve equity balance.

Anyway… apart from this EA, there is another commercial martingale EA that works on this principle which I will write about it in the next showcase.

Ok back to this new Megan EA.

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Forex Martingale Showcase II – King Martin Scalper

Now here is an idea which I believe never occurred to anyone. Ok… maybe it has but I don’t think it was never really realized until I stumble upon it.

It’s call the King Scalper but I renamed it King Martin Scalper. For the reason that this particular ‘scalper’ application is very very different from your normal EA. It not only scalp like 15 pips per trade, but it utilizes martingale.

This strategy is so simple that I just went like ‘Wow!!’

This is how this EA works. It ‘bet’ on one currency pair and if it losses it double up the lot. Plan and simple martingale. It’s a ‘scalper’ because it only takes 15 pips. However, this is not your ordinary scalper because the stop loss is also 15 pips. The idea is that… see if I win the first trade.

So if on the first ‘bet’, the trade losses. It takes on another ‘bet’ doubling the size. etc etc. When it hits it’s profit target. It starts all over again. And at every successful Martingale round, I win 15 pips.

Is this forex casino or what… (I am going to trademark this name)

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