Alan's Forex Blog

Posted: 08 Jun 2010 11:29 PM PDT

Greetings. It has been a while since my previous update regarding the testing of the Forex Overdrive EA, so I figured now is about as good a time as any other to post another one.

So far this EA has been running on my demo IBFX account since 2010 05 05 and so far the EA hasn’t produced any major profit on the account. In fact it has lost roughly $5000 from the $10,000 starting account balance. Forex Overdrive took on 3 bad trades that eventually hit the 328 pip default stop loss. The markets were really rought at the time so maybe these 3 losing trades are a fluke? I’m not sure yet as more testing is necessary to know for sure. For the long term I still remain optimistic that it will recover the loss and come back into profit. Why you may ask. Well, I’ve backtested the EA from 2004 to 2009 and during backtesting the performance has been phenomenal. Sure it had a few loses along the way but it always bounced back nicely. So since I take the long term view I will continue to demo test it for a few more months before I come so some conclusion on whether it’s worth it to take it LIVE.

Oh and before I post the trading statement, I’d like to mention that after playing around with the MT4 strategy tester (ie optimizing) I’ve come to the conclusion that one may be able to get away with using a 170 pip stop loss with this EA. The default 328 pip stop loss is probably too high for many of you. Try it with 170 pip SL in a backtest and let me know if you agree with me.

OK, without further ado here is my latest (sorry for the length – eventually as it grows I’ll turn it into a PDF file) Forex Overdrive trading statement:

173022800 2010.05.05 02:22 balance Deposit 10 000.00
173067304 2010.05.05 15:00 buy 11.65 eurusdm 1.28670 1.28900 1.29220 2010.05.05 16:06 1.28900 0.00 0.00 0.00 267.95
173088231 2010.05.06 01:40 sell 11.99 eurusdm 1.28330 1.31610 1.28230 2010.05.06 04:54 1.28230 0.00 0.00 0.00 119.90
173124178 2010.05.06 13:43 buy 12.21 eurusdm 1.27500 1.27550 1.27900 2010.05.06 14:06 1.27550 0.00 0.00 0.00 61.05
173162898 2010.05.06 19:31 buy 10.55 gbpusdm 1.48430 1.48570 1.49280 2010.05.06 19:50 1.48570 0.00 0.00 0.00 147.70
173188320 2010.05.07 02:05 buy 10.70 gbpusdm 1.48500 1.48790 1.48950 2010.05.07 04:03 1.48950 0.00 0.00 0.00 481.50
173202556 2010.05.07 06:10 buy 11.29 gbpusdm 1.47070 1.47080 1.47300 2010.05.07 07:42 1.47080 0.00 0.00 0.00 11.29
173210099 2010.05.07 07:46 buy 11.30 gbpusdm 1.47160 1.47290 1.47810 2010.05.07 07:50 1.47290 0.00 0.00 0.00 146.90
173217634 2010.05.07 09:22 buy 13.20 eurusdm 1.27580 1.27800 1.28680 2010.05.07 10:43 1.27800 0.00 0.00 0.00 290.40
173220416 2010.05.07 10:05 buy 11.08 gbpusdm 1.46040 1.42760 1.46290 2010.05.07 10:06 1.46290 0.00 0.00 0.00 277.00
173220527 2010.05.07 10:06 buy 11.42 gbpusdm 1.46330 1.43050 1.46580 2010.05.07 10:27 1.46580 0.00 0.00 0.00 285.50
173233058 2010.05.07 12:41 buy 14.27 eurusdm 1.27040 1.27190 1.27740 2010.05.07 12:51 1.27190 0.00 0.00 0.00 214.05
173247119 2010.05.07 14:51 buy 12.55 gbpusdm 1.47030 1.47320 1.48630 2010.05.07 15:17 1.47320 0.00 0.00 0.00 363.95
173262198 2010.05.07 17:43 buy 14.91 eurusdm 1.27340 1.27350 1.27640 2010.05.07 18:50 1.27350 0.00 0.00 0.00 14.91
173270029 2010.05.09 22:00 buy 14.70 eurusdm 1.29410 1.29500 1.29660 2010.05.10 03:27 1.29660 0.00 0.00 0.00 367.50
173328414 2010.05.10 07:25 sell 15.08 eurusdm 1.29710 1.33000 1.29620 2010.05.10 11:46 1.29620 0.00 0.00 0.00 135.72
173398036 2010.05.10 20:45 sell 15.47 eurusdm 1.27830 1.27800 1.27648 2010.05.10 23:10 1.27648 0.00 0.00 0.00 281.55
173404731 2010.05.10 23:34 sell 13.61 gbpusdm 1.48260 1.48220 1.47840 2010.05.11 03:44 1.48220 0.00 0.00 0.00 54.44
173429102 2010.05.11 07:15 buy 13.65 gbpusdm 1.48520 1.48710 1.49170 2010.05.11 08:30 1.48710 0.00 0.00 0.00 259.35
173550913 2010.05.12 10:30 buy 13.83 gbpusdm 1.49400 1.46110 1.49490 2010.05.13 19:56 1.46110 0.00 0.00 0.00 -4 550.07
173681267 2010.05.13 15:21 buy 11.63 eurusdm 1.25860 1.22580 1.26110 2010.05.17 02:26 1.22580 0.00 0.00 0.00 -3 814.64
173718876 2010.05.14 05:26 buy 8.73 gbpusdm 1.46380 1.43100 1.46630 2010.05.17 02:26 1.43100 0.00 0.00 0.00 -2 863.44
173881463 2010.05.17 06:38 buy 2.66 gbpusdm 1.43890 1.43960 1.44140 2010.05.17 06:40 1.44140 0.00 0.00 0.00 66.50
173891011 2010.05.17 07:44 sell 2.73 gbpusdm 1.43670 1.43600 1.43420 2010.05.18 18:53 1.43600 0.00 0.00 0.00 19.11
173985003 2010.05.17 21:36 sell 2.63 eurusdm 1.23950 1.27240 1.23860 2010.05.17 23:05 1.23860 0.00 0.00 0.00 23.67
174218213 2010.05.19 07:45 sell 3.27 eurusdm 1.22070 1.25350 1.21970 2010.05.19 07:53 1.21970 0.00 0.00 0.00 32.70
174220233 2010.05.19 07:55 sell 3.31 eurusdm 1.21930 1.25210 1.21830 2010.05.19 08:06 1.21830 0.00 0.00 0.00 33.10
174248279 2010.05.19 10:20 buy 2.86 gbpusdm 1.42770 1.39490 1.42870 2010.05.19 12:13 1.42870 0.00 0.00 0.00 28.60
174275305 2010.05.19 12:35 buy 2.88 gbpusdm 1.43110 1.43230 1.43870 2010.05.19 12:59 1.43230 0.00 0.00 0.00 34.56
174399720 2010.05.20 06:42 buy 3.38 eurusdm 1.23700 1.23790 1.23950 2010.05.20 06:52 1.23950 0.00 0.00 0.00 84.50
174399762 2010.05.20 06:42 buy 2.78 gbpusdm 1.43590 1.43840 1.44790 2010.05.20 06:57 1.43840 0.00 0.00 0.00 69.50
174405506 2010.05.20 07:45 buy 3.07 gbpusdm 1.43640 1.43900 1.44062 2010.05.20 07:53 1.44062 0.00 0.00 0.00 129.55
174413013 2010.05.20 09:00 buy 3.71 eurusdm 1.24050 1.24160 1.24318 2010.05.20 17:27 1.24318 0.00 0.00 0.00 99.43
174448241 2010.05.20 17:13 buy 3.01 gbpusdm 1.43580 1.40300 1.43830 2010.05.20 17:25 1.43830 0.00 0.00 0.00 75.25
174492112 2010.05.21 05:04 sell 3.86 eurusdm 1.26150 1.25900 1.24660 2010.05.21 06:05 1.25900 0.00 0.00 0.00 96.50
174521551 2010.05.21 12:40 buy 3.49 gbpusdm 1.43640 1.43780 1.44357 2010.05.21 13:02 1.43780 0.00 0.00 0.00 48.86
174522136 2010.05.21 12:49 buy 3.89 eurusdm 1.25570 1.25620 1.26070 2010.05.21 13:10 1.25620 0.00 0.00 0.00 19.45
174550225 2010.05.23 22:01 sell 3.53 gbpusdm 1.44640 1.44520 1.44090 2010.05.24 00:01 1.44520 0.00 0.00 0.00 42.36
174550231 2010.05.23 22:02 sell 3.91 eurusdm 1.25450 1.28730 1.25200 2010.05.23 23:51 1.25200 0.00 0.00 0.00 97.75
174564920 2010.05.24 02:20 buy 4.26 eurusdm 1.25100 1.25100 1.25371 2010.05.24 04:46 1.25100 0.00 0.00 0.00 0.00
174570579 2010.05.24 05:30 sell 3.68 gbpusdm 1.44740 1.44720 1.44319 2010.05.24 06:00 1.44720 0.00 0.00 0.00 7.36
174595291 2010.05.24 12:25 buy 3.71 gbpusdm 1.43710 1.40430 1.43810 2010.05.24 12:27 1.43810 0.00 0.00 0.00 37.10
174624474 2010.05.24 18:10 buy 3.73 gbpusdm 1.44530 1.44560 1.44720 2010.05.27 05:53 1.44720 0.00 0.00 0.00 70.87
174632136 2010.05.24 23:15 buy 3.99 eurusdm 1.23500 1.23530 1.23701 2010.05.25 21:08 1.23701 0.00 0.00 0.00 80.20
174727874 2010.05.26 04:20 buy 4.02 eurusdm 1.23060 1.19780 1.23310 2010.05.26 08:42 1.23310 0.00 0.00 0.00 100.50
174818257 2010.05.27 11:27 sell 3.98 gbpusdm 1.45000 1.44820 1.43950 2010.05.27 12:06 1.44820 0.00 0.00 0.00 71.64
174866699 2010.05.28 05:21 buy 4.04 gbpusdm 1.45500 1.45520 1.45750 2010.05.28 05:38 1.45520 0.00 0.00 0.00 8.08
174879587 2010.05.28 09:37 sell 4.04 gbpusdm 1.45590 1.48860 1.45480 2010.05.28 12:34 1.45480 0.00 0.00 0.00 44.44
174899190 2010.05.28 16:37 sell 4.83 eurusdm 1.23310 1.23240 1.23060 2010.05.28 16:37 1.23060 0.00 0.00 0.00 120.75
174899315 2010.05.28 16:37 sell 4.07 gbpusdm 1.44560 1.47840 1.44310 2010.05.31 00:41 1.44310 0.00 0.00 0.00 101.75
174899327 2010.05.28 16:37 sell 4.80 eurusdm 1.23030 1.26310 1.22780 2010.05.28 19:37 1.22780 0.00 0.00 0.00 120.00
174906893 2010.05.28 19:56 sell 4.91 eurusdm 1.22760 1.22620 1.22360 2010.06.01 01:00 1.22620 0.00 0.00 0.00 68.74
174962903 2010.06.01 02:40 buy 4.54 gbpusdm 1.44850 1.41570 1.44950 2010.06.01 05:06 1.44950 0.00 0.00 0.00 45.40
175272273 2010.06.04 10:46 buy 4.53 gbpusdm 1.46540 1.46570 1.46894 2010.06.04 10:53 1.46570 0.00 0.00 0.00 13.59
0.00 0.00 0.00 -5 555.68
Closed P/L: -5 555.68