This article is obsolete and no longer maintained.
Trading style: counter-trend trades during the European session with a controlled martingale lot progression.
Currency pairs: AUDNZD, AUDCAD
Expert Advisor price: €165; €19 per month after the 2nd month for the news service
License: 2 live accounts
NFA compliance: full
Refund policy: 60 days, conditioned by a live trading statement of at least 40 trading days and showing a loss Read more at the Forex Flow website
Note: exercise care when configuring the EA and calculate the worst case scenario given your starting lot, balance and max level count.
Birt’s forward test
Settings: StartLotSize 0.02, MaxLevel 6, Use_Balance_Factor true, Balance_Factor 300 (note that the contract size on PrivateFX is 10k – for most brokers which have a regular 100k lot size, Balance_Factor should be 3000)
Stopped: 06.02.2013 (no longer available for sale)
Account type: live, micro
Starting balance: $300
Current version: 4.0
Please note that all these backtests were ran with a PrivateFX terminal, where the contract (lot) size is 10k, unlike most other brokers where it is 100k. This means that you’d have to multiply all balance and profit figures by 10 to be able to use the same lot sizes on a regular account. All my backtests were performed with a $300 starting balance since that’s my standard for live forward tests, but if you wish to use the same lot sizes on a regular account, you will need a $3000 balance.
Based on these backtests, I decided to go with starting lot 0.02 and balance factor 300 for both currency pairs, which would yield a max drawdown of 20% per pair. For a regular account, that would translate to starting lot 0.02 and balance factor 3000 or, to simplify, starting lot 0.01 and balance factor 1500. I would not recommend using a broker with min lot 0.1 if your balance is below $15000.