Perfomances As Of End June 09

Filed Under (Performance) by Casey on 05-07-2009

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It’s the time of the month again where I review my month end performances. But this time round I think I need to really look into this much more deeper. As June closes, it means half of the year has gone. So how did I fair? After numerous thoughts, and action change and philosophical ideals, did my performances changed?

Let’s have a look…

June09

Last month I came out slightly better… and it seems that I am slowly moving out of the rut from a month end total lost of $417 in April to -$65 in May and profit of $20.90 in June 09. Just to note… I have to deduct $100 because I added another $100 into my FXDD account to start trading Forex Barometer.

Overall my last half month was a failure. I have taken myself back $225 from my objective to recoup my initial capital. I am really hoping to break even by the end of this year, which is my target and goal for 2009.

And once that is done, my target is to recoup my initial investments on buying all these forex EA by mid 2010. Subsequently start profiting after mid 2010.

Bold? I don’t know… but at least it’s a goal.

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In Support Of the Innocent

Filed Under (Journal) by Casey on 05-06-2009

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It has come to a point where I start to continue to think what is right and wrong. When I wrote my post on Scam, Sham and All that is Bullshit! I realize that apart from my bottom line, one must make a stand when it comes to this industry.

Yes, I have been guilty of downloading some EAs for free, cracking the codes and freely using it like there is no tomorrow… while I also have been a good boy and buying a few EA myself. Most of them were $hite…

So… I would like to use this site as a vehicle to promote those that are innocent… Well… more like promote those that I currently used LIVE on my account.

This is in support of those that are ‘innocent’ and has a good nature of probably improving their proprietary EA that these EA authors developed.

On one hand, I know a lot of people do not want to spend money not knowing if a product is good or not. That’s the reason why it can be easily gotten for free over the internet, if one were to search hard for it.

On the other hand, this leaves the real proprietary EA author in a dilemma. It might or might not hinder them from developing or improving their EA.

The argument is that, if it’s so profitable, then why don’t they use the EA themselves? The reply would be, if they don’t share it OR sell it, how would people like you and me, who does not or might not have the time to learn MQL language and build our own EA or even get a chance to participate in the worlds biggest market…

Because of the need to bring innovation out to the market, scammers and bullshiters prey on people/end users like us… to make a quick buck. In this industry where scammers and bullshiters exist… one dares not enter or buy an EA with their own money…. Some would, but most won’t…

So the internet naturally regulate themselves. Review and EA Test sites pop up like mushroom so that consumers don’t get scammed. Sure they will test on their own platform and give them their reviews. But with so many variables like which broker they use and which settings they have changed all the more cause their reviews to probably be bias.

So what could beat all this? To ensure that one is getting the right product that works for oneself. We need to test it OURSELVES…

When we test it we can be sure that it is good and profitable. Only then we purchase it.

That is the reason why some do offer a demo EA. But with the decompiler software… that makes it tricky. So no more demo version.

One might suggest to open a demo account and past the information to the EA seller to prove it to you. But that takes a lot of the sellers resources to prove it… Like in Enterra’s case, they probably used their own desktop or VPS, set up an MT4 platform and then test it out over a period of time. They only gave me 2 weeks. And that does not guarantee a sales.

Is that enough? No… it’s not… 2 weeks shows you $hit. If my Alfafah forex experiences was ever an example, two weeks without even backtesting it might prove deadly.

So how?

Again…. we need to backtest it, demo test it and then probably live test it OURSELVES. If it’s good, then buy the original.

Now… I am going to be a partly hypocritical here, of all the three EA, only FAPTurbo was legally bought by me. Cyborg EA was cracked and Xtreme was forwarded to me…

Yes… money is a bit tight for me. And as you can see… my bottom line has been messed up countless times. That’s the price I pay…

Having said that… Whatever my reason could be, I am going to make it up to these sellers and also to the potential buyers… You can download it from my library… back test it, forward test it and put it live… And if you are profitable, then I encourage you to buy the original…

For the EA that I used, I will give back what they call a rebate… or I will package it in such a way that you get maximum value for your purchase. I will need to figure out how to package it first. But it will be done…

My principles here needs to be fine tuned. So that everyone can be profitable…

Performance as of End May 09

Filed Under (Performance) by Casey on 04-06-2009

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I was really procrastinating doing this update. I am so ashamed and do not want to accept the fact that May 09 was not as profitable as I wanted it to be.

Plainly… it was again due to stupidity. Sighh…. oh well… it needs to be done so that I can review previous month and correct it again this month.

Here is my result for end May 09
Performance End May 09

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VPS Revisits…

Filed Under (Journal) by Casey on 20-03-2009

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On my previous post ‘3 Quiet Days ‘ I mentioned that I was pretty serious about forex business and should consider VPS (Virtual Private Server) to ensure that I do not miss any potential profitable trades especially with FAPTurbo…

I have been away on a holiday these past few days, and was very fortunate that my desktop and internet connection did not screw on me and my EA was trading very well for me. Raking profits while I am on holiday… ahh… such is life.

But before I went on holiday, I did a lot of research on VPS had sometime for somemore personal thoughts about this. Why?

Well, that is because of the monthly fee that I am going to incur. The best VPS in terms of service and $$$ is VPSLAND.COM not only recommended by http://ckowyong.com/blog/ but also by a lot of other forex community of having a good service and price factor. Now $18 bucks per month should be peanuts compared to a big account. But for an account like mine of total $3000, trading at mostly 0.1 mini lots… I am not sure…

Further more my IBFX account which is running Don Steintz seems to not been running well and some digging further into this EA, many revealing information has surface with regards to Don Steintz’s EA…

Anyway… while FAPTurbo has been very profitable on my Alpari account, my other account seems to be in the reds… So does this justify me commiting another $18 bucks per month?

So far I am up $300 on my alpari account this month… but in total together with all my other broker, I am only up $180. Thus, at the time of writing I am committing 10% of my profits just to ensure that I will be getting what…. erm… maybe 5 bucks per day… or less.

Don’t know… So until I can make some sense out of all this in terms of dollars and cents and reorganize myself again especially with Don Steitz’s EA, I will put my VPS search on my KIV tray…

Serious as I maybe in making money, I guess I have to be practically no??

Organizing Demo

Filed Under (EA System, Journal) by Casey on 02-03-2009

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Phew… I never knew demo-ing a few EA can be quite tough or rather tedious.

Well, I have been trying to demo test other so called Best Forex EA around to see if they are actually the ‘Best’ forex EA.

Ok, granted I am a scum because these forex EA are EA which I was able to download for free. Anyhow, scum as a scum can be, I needed to find out if it is actually as good as they say.

Initially I started out dumping a few EA on one demo account with different lot size as a way to identify if it was profitable at the end of my test period. But this is too tedious so I scraped that idea and a few weeks of demo testing.

Now I have open 6 demo accounts on three main broker that I believe to be interesting.

FXDD, Alpari and Masterforex.

I dismiss Interbank is because I notice, on other forex review, interbank does not seem to show very profitiable result for EA tested on them. My first hand experiences with Interbank with FAPTurbo also did not yield such encouraging results.

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FAP Turbo

Filed Under (EA System) by Casey on 21-01-2009

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I guess it is about time to write about FAP Turbo EA . This EA is placed and activated on my Alpari account. And I must say, it is one of the best performing EA so far for me. I bought FAP Turbo when it launched (26 November 2008). I had two main criteria when buying an EA. One is they show a backtest since 1999 which would probabily show that it should weather any market condition. Secondly there were some forward testing result. Whether it was genuine or not, it should not matter.

On top of that, it is hosted with Clickbank. So safe to say that i have 8 weeks to test it out. Well, it has been 10 weeks already and I must say I am pretty happy with the results.

Results were very good and this would be one of he EA which I will be promoting here. :)

Here is the summary (Click here for my statement ) from the day I bought the EA 26/11/08 till today 21/01/09 about 10 weeks of trial. Had $259 when I started and at present it is about $315 (due to recent stop loss triggered). But at this moment it is a 21.6% return in 10 weeks. Not bad no??

It would have been even better if the I did not have a total stop loss triggered that took out $50bucks off me. If not it would have been over 40% return in a 10 weeks.

But that is how it is… Slowly and surely. I guess it is too early to say if it’s the best. But so far it has been the consistent.

Now a few things to note. In my previous post ‘Not all Broker Are Created Equal ‘ I stated the performances of an EA systems difers from one broker to another. And this is so true with FAP Turbo.

I did two test before they started implementing licences for one EA to one broker. (What a great way to make more money). Anyway.. before they implemented that, I manage to test it out on my other broker Interbank. And result were good but not as good as it is with Alpari. While in my Alpari account FAP made a good number of trades, Interbank account FAP made about a handful of trades, almost a ratio of about 8 to 1.

I wanted to test it out further but before I could that, they ask me to pay for an additional licences if I wanted to it on a second broker account. Will it is unlimited for demo account. Since my Interbank account is live with my other EA, I did not see that it was  a great idea to test FAP on a demo account.

Anyhoo… another thing to note I also wanted to see if it works on the same account using the same currency on different chart. Now the only way for me to do this is to use a different magic number. I believe that is what magic numbers are for. It is to ensure that you trades are easily differentiated by the EA.

Again, it does not take the same trade. If you see my results are the beginning this week, 19/01/09 you will notice EURCHF has two different lot size, 0.02 and 0.01. This is how I differentiate that the two EA on the same currency with two different magic number behaves. And in this sense it is not as consistant as I would hope for.

But……………………… having said that, it is still profitable. While I am not sure how profitable it is on other broker, I do know that it has been profitable for me.


Dumb Dumb

Filed Under (EA System, Journal) by Casey on 14-01-2009

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As I mentioned in my previous post. I made on embarassing error which caused me to lose almost half of my

money in my trading account. No doubt it was small, but still it was significant enough to have made me feel so ashamed until I to stop posting on my blog.

You see, I was using WSS. And within WSS (Winning Solution System) EA there were two other EA which drew a lot of good comments. I can’t remember what the name of the EA was but I did one terrible thing that could not unforgiven, either auto or manual trading.

I did not backtest it before putting it live! Plus I did not learn more about the settings of the EA before putting it live.

It was dumb and dumber sort of way to trade.

This was what f@@@ my account up. Thinking or rather writing about it makes me very upset and angry at myself for doing such a dumb dumb move.

Well,  it was a lesson learned and I have been very careful with the EA I put on the chart. This is what happens when you have 3 different broker and 10s of EA running with more than 30 chart open all together.

Not all Broker Are Created Equal

Filed Under (Journal) by Casey on 12-01-2009

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When it comes to EA, not all broker are created equal.

Why do I say that, I realize that one EA may work very well on one broker while the same EA on another broker would perform very badly.

I think it has something to do with the spread or slippage from one broker to another on the same period of time.

A case to note was EA Shark and EA Griffin. While it make take a trade on FXDD but it will not take a trade on my Interbank account.

Well, this was one of the reason why I gave up on EA Shark and Griffin. Anyway… that will be another story to write about.

I believe that if you are wanting to buy an EA, see what broker that they are using their EA on to show backtesting and forward testing proof. And if you have an account with the same broker than it would not hurt to try.

But if you have a different broker, then I think you really need to think twice.

Most EA composer/author would sell you their EA and affiliate themselves with one ‘Out of the Blues’ broker and start upselling you that broker… While I am all for affiliate don’t you think you should owe it to your customer to sell them the broker which you use your EA to back test and forward test?

Sighh… some people just miss the point on trying to milk more money from your customers.

Anyway, one of the reason I really mess up my account was because of that, some EA are not meant to work on certain broker to produce the kind of profits that one is looking at on an EA.

More about messing up my broker account soon… And one of the mess up is really embarassing… hehe