Alan's Forex Blog |
| Posted: 14 Sep 2010 12:45 PM PDT
 Greetings. I was thinking of documenting my trades here on the blog in a sort of “trading journal” and this post shall be the first “beta test” of this new idea. Ok, well, as you probably can see EUR/USD is on the move again. It looks like risk appetite is back in full swing and traders are pushing up the common currency past the 1.30 psychological number as I type. I was fortunate to get a piece of this trend at around 1.2875 with two separate lots – this is on a live account by the way, so I’m riding the money train for now. Here is my trade in action: At the moment I am thinking that this is the beginning of a new short term uptrend, and higher highs are probably going to be tested. Thus I am trailing all my positions with a pretty loose trailing stop (90 pips.) I’ve already locked in some profits just in case there is a reversal. This is no sure move as I’m uncertain as to whether the 20 period MA will cross the 50 period MA on the daily chart (20 period EMA, 50 period SMA). It is very close to crossing over I may add, but just not quite there yet. Also the 100 period MA has not been crossed or touched by price yet, so as it stands I don’t think this is an established trend. Let’s see what the next daily candle brings. Until then, I wish you all profitable trading! Cheers, Alan Share and Enjoy:                          |
| Posted: 13 Sep 2010 10:44 PM PDT
Hi everyone. Alan here with another review. This time I am reviewing a commercial forex robot (EA) called “Forex Turbo Drive” I’ve began testing this particular product on a demo IBFX account starting from July 27′th. Thus far I am afraid its performance has not been satisfactory to me. The demo account started with $10,000 and now it’s down to $8,405. It has a very odd trading style. It fired off quick buy/sell orders sometimes even in a strong trend. This thing is like a forex machine gun. I think a picture will give you a better understanding so check it out here: Sadly though the strategy does not appears to work too well at the moment. Have a look at this equity graph: You can also download my complete forward demo test account performance statement here: http://alansforexblog.com/files/Forex_Turbo_Drive_Statement.zip As you can see by that graph above, the account’s balance just keeps on going down and down. Thus as of today I’ve decided to stop demo forward testing it. I’m going to get in touch with the authors of this EA and see if they have a fix for this bad performance. If they do I may consider giving it another shot. However for now I would give this EA the rating of: NOT Recommended. Update: Ooops I forgot to add that if you wish to discuss this EA and share your experience/performance with everyone you can do so at the Forex Robots Forum thread over here: http://www.forexrobotsforum.com/showthread.php?t=51 That does it for this brief review. Until next time!     |
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