Metatrader expert advisors dissected.
Forex Gale live forward test
Trading style: trend following using trade baskets, with an account-wide trailing stop. Uses three different strategies to this purpose.
Currency pairs: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD
Timeframe: M30
Expert Advisor price: $195 (can be purchased for $100 if you open a brokerage account through the vendor’s introducing broker links)
NFA compliance: no
Refund policy: 30 days, conditioned by statement showing the EA running for 20 days with losses
Note: judging from what I’ve seen on the forward test accounts, the EA is susceptible to large floating drawdowns.
Read more at the Forex Gale website
Buy Forex Gale
Birt’s forward test
Settings: defaults (TakeProfit 0.35, TrailingStopLoss 0.35, FirstTradeLots 0.01)
Started: 27.09.2011
Broker: PrivateFx
Account type: live, micro
Leverage: 1:500
Starting balance: $300
Official forward tests
Started: 29.08.2011
Broker: Alpari UK
Account type: real, standard
Starting balance: $1000
Note: trading all three strategies
Started: 18.07.2011
Broker: Alpari UK
Account type: demo
Starting balance: $10000
Note: trading strategy 1
Started: 04.09.2011
Broker: Got Money FX
Account type: demo
Starting balance: $1000
Note: trading strategy 1
Started: 04.09.2011
Broker: Got Money FX
Account type: demo
Starting balance: $1000
Note: trading strategy 2
Started: 04.09.2011
Broker: Got Money FX
Account type: demo
Starting balance: $1000
Note: trading strategy 3
Started: 08.08.2011
Broker: Alpari UK
Account type: demo
Starting balance: $1000
Note: trading all strategies
More demo account results can be found on the product website.
This entry was posted by birt on September 29, 2011 at 4:40 PM, and is filed under Live Forward Tests. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.
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#64 written by Al November 14, 2011 (1 year ago)
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#70 written by ROBB November 15, 2011 (1 year ago)
in the manual it says
MinimalEquity = 10
This is the point where Expert Advisor will not generate any new order and wait for profit opportunity for exiting trades to bring the equity to positive. This is another way of making sure expert will not any further trades instead try to close current pending trades and then take Fresh start.so i put the equity # at 60,so it won’t open any trades after that and wait until the cycle closed.
what do you think guys?
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#71 written by DaveW November 15, 2011 (1 year ago)
ROBB – minimal equity isn’t in % it is a base currency figure –
Email conversation with support:
“Ok we explained Trade close earlier. Ok yes if u enter say 7000 and equity reach that level than EA will not open any new trade. Regds Support ”“Hello Correct you can do test on any demo, say ur demo is 5000 and u set 4970 in Trade Close so u can see EA will close everything and only trade further if u change trade close value to a lower number as it must be below from EQUITY. Regds ”
“Hi,
Could you confirm that this is the $ value at which the EA’s won’t create any more trades just try to close out the running ones please? So if the account is $10,000 and you set this to 7000 and account equity hit $7000 it would try to close current trades before opening new ones.
Thanks,”
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#74 written by ROBB November 15, 2011 (1 year ago)
after getting the email back from the vendor i can confirm that you are right Dave,so the value is in currency and not in %,
anyway it was a bit confusing i must admit,
so i sat the minimum equity that the ea needs to stop openning orders and waiting for the cycle to pick up some profits and losses too -
#76 written by ROBB November 16, 2011 (1 year ago)
same here.
btw ,here is the vendor email back that i got this morning about the equity parameter.
As mentioned Minimal Equity is $$$ amount not %.
Default values are 10 or 100 because some people only run EA with couple hundreds, if we set default at higher amount then most of the client get an issue so we set at low level and if body want then he / she can use it.
Pls. let us know any qs.
Kind regards
Support
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#77 written by DaveW November 25, 2011 (1 year ago)
Wow – that was a hell of a ride! Trade cycle closed today with some of the trades having been open for over 3 weeks! Made a bit of profit in the end but I hope that doesn’t happen too often!! Up 8.5% for the last month in total (from 26th October when I started live).
Anyone know how do you find out max floating DD?
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#78 written by birt November 25, 2011 (1 year ago)
For my account, the cycle is not closed yet. I will definitely switch the risk settings when and if it is.
As for the max floating drawdown, there’s no way to measure it without a specialized tool. However, my EA Top records it but in the case of Forex Gale it will definitely be very different from your floating drawdown because you certainly had different settings.
Some time ago, I wrote a small EA named equitymonitor for monitoring different floating profit parameters. Feel free to download it and run it on a chart but keep in mind that it monitors stuff on an ongoing basis so it can’t tell you how much drawdown you had in the past.
Finally, the fact that the cycle was never long while you ran it on demo doesn’t really mean much. Future cycles may be shorter but then again they may be even longer. If you take a look at my account, it has trades that are open for over a month.
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#80 written by DaveW November 25, 2011 (1 year ago)
Thanks birt – yes I realize cycles may be different from demo but I guess I was thinking at that time that 1 week was reasonably long! FWIW my settings are similar to yours above – using low risk in terms of lot size but medium risk with the trailing stops etc. Obviously with this EA unless we switched it on at the same time the cycles would be significantly different anyway I guess.
Thanks for the equity monitor – I will check it out.
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#81 written by Al December 2, 2011 (1 year ago)
DD back up again now around 45%. Had a feeling I should have manually closed everything when DD was only 10% during last week. See how it goes next week, I will be thoroughly impressed if Gale can manage it’s way out of this. Just seems to be accumulating more orders than it closes out which can’t be good long term. If it comes out of DD I will be resetting the Risk Settings to even lower for next test.
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#86 written by DaveW December 13, 2011 (1 year ago)
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#88 written by DaveW December 13, 2011 (1 year ago)
No problem – glad I can help you for a change rather than the other way around all the time!
For info I am up just under 20% on this EA on live since 26th October. It is a little scary though to be honest. Floating DD for me is now pretty low @ about 4% down from 12% a couple of days ago – the big EU drop helped me today I think.
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#89 written by Al December 14, 2011 (1 year ago)
After the big Euro drop I came back to around 1% DD so manually closed out all trades. Up 25% overall on the account after around 2.5 months. Will not restart Gale now as Christmas markets are too fickle. When I restart in January I am segregating a smaller amount of funds for Gale (a 5k accoount) and running it on the very minimum risk settings with lot size 0.01 and profit target of $1. Even with these ‘small size’ settings I believe Gale will still make a worthwhile monthly profit and should produce more acceptable levels of DD. Risk management always comes before profit, that way profit can accelarate over time.
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#92 written by Bob February 13, 2012 (1 year ago)
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#94 written by Andrea July 30, 2012 (9 months ago)
I’ve managed to make 50% on live (5k to 7.5K) during the last month and a half on this one by running all three strategies but not on all pairs (not by a long shot). Mostly USDJPY and USDCHF with some AUDUSD.
This robot is brilliant for trending pairs with strong volatility ! A trend reversal might kill it tough, or at least wipe out profits from the last several months…. If you want to follow trends on this these pairs search no further.
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send a email to the vendor those setting are to thouchy ,might lead to mistakes ,only the vendor can guide for this