*Click here to read my concluding review of this product*
Greeting my fellow Forex traders. This is just a quick post to let you folks know that my testing of the Forex Autopilot System is progressing quite nicely and that I’ve now moved on to the second out of a repertoire of eight expert advisors (trading robot in Forex jargon.) This one is called “StrongTrendAdvisor” and as you can tell by the name it is basically a trend following system with an advanced money management system slapped on.
I decided to test this expert advisor on the EUR/USD and GBP/USD pair. I did some MT4 backtesting and optimization and came up with the following profitable settings:
For the EUR/USD:
StopLoss=74
TakeProfit=112
Slippage=5.00000000
MaximumTrades=5
TakePips=9
FixLotMM=0
FixLotSize=0.10000000
RiskPercent=11.00000000
MA_Period=32
DeltaMA=2.04000000
For GBP/USD:
StopLoss=84
TakeProfit=151
Slippage=5.00000000
MaximumTrades=5
TakePips=9
FixLotMM=0
FixLotSize=0.10000000
RiskPercent=13.00000000
MA_Period=32
DeltaMA=2.04000000
Just for kicks here an equity graph showing backtest performance of the EUR/USD settings. Note I started with an account size of $667 and by the end of the testing period (Jan-01-08 to March-03-08) the account balance rested at $117063. Yeah I know, pretty crazy. My modeling quality was 90%. I strongly doubt that in demo testing or live testing it would achieve these results but I guess you can never know. It did use some pretty big lot sizes at times so this result could probably be attained in a forward testing environment such as on a demo or a live account.
Here is the equity graph:
Stay tuned here or to my Forex blog as I should have some preliminary test results in about two weeks.