Hey there guys/gals
I am testing another new ea called Emalgo. This ea is very interesting and uses a type of statistic based model that was originally designed for machine learning, medical imaging, computer vision, and stuff like that.
What it does is it takes a bunch of information from a slew of indicators and crunches the numbers and trys to predict the next couple of bars. It sounds like pretty advanced stuff and the team at Emalgo are certainly on the cutting edge in the financial world.
There ea was very simple to set up and has very minimal input from our end. There algorithm takes care of all of it.
Other interesting stuff
First off this seems to be more of a swing trader and will be a nice addition to my portfolio. You guys know me I’m always preaching about diversification. The website says Emalgo earns 10% monthly with consistency.
great risk reward of 1:2 or better
Anyway this ea is promising and as usual you guys can count on my unbiased and honest opinion. I will let you guys know how its doing in real time on my account. I will be forward testing on my live hotfore currenex account.
If you guys want to check out the website here it is (non-affiliate link) EMALGO EA
This ea may be just what I need to round out my portfolio.
Right now I am running…
FGB (trend following)
wallstreet (scalper)
MDP (extreme scalper)
FMT (volatility london open trader)
Steady Winner (trend following)
promax (testing/ I’m not positve what style this ea is scalper maybe)
Emalgo (testing/ break out and counter trend using propriatary ranges based on there algorithm)
The reason my portfolio does well is because I am always testing testing testing and trying new ea’s. This one like all the others I try comes with a money back guarantee.
Sounds interesting this EA along with all the others you are testing. I look forward to hearing how this one pans out. The only EA I dont know of from your portfolio is FMT. Anyone point me in the direction of this one? Always interested in what you are using man.
fmt stands for forex morning trade. It is a manual system that had an ea coded for it and it was awesome for a while but so far 2011 it has tanked so I have just decided to stop running it until fall time and I will test again to see if it can get back to where it was last year.
Emalgo hit a -140 pip stop loss. It will take 14 trades to recover. The good news it already won one more since than. so total of 7 trades and 6 winners net total of -86 pips
Hi guys,
I just wanted to update everyone about Emalo, and particularly that nasty stop loss. First off I’m the only one who seemed to even get this trade. I don’t know if it was hf’s price feed or what but the developer didn’t get this trade in any of the 12 accounts they have running.
-more importantly-
I wanted to talk a little about the trade logic of this ea. First off the tp level is not 9 that is actually a breakeven level. Emalgo typically sets take profit levels between 60 and 90 and has an overall win rate of around 70%
I apologize to anyone for my misunderstanding on this issue. Emalgo’s logic is very very advanced. Actually it uses an EM algorithm which in a nutshell is a technology more often seen in medical image analysis and image restoration applications. It is definitely not a simple tp of 9
What Emalgo does is takes price information from the m1 and h1 timeframe and crunches a bunch of numbers from different indicators to project what the high and low price would be within the next 6-10 hi candles.
Than Emalgo looks at the projected high and low price and if there is a potential 35-45 pip trade (greater than 70% chance) than Emalgo will enter the trade.
[B]Once Emalgo is in the trade and the projected high or low is hit than it sets a stop loss of +9[/B]
So basically what happens is once Emalgo enters a trade than the trade goes into trade management mode where they use a atr and trailing stops to try and milk as many pips out of the trade as possible and if the trade goes against us than Emalgo will try and exit long before a stop loss is hit. In essence they trade by the axiom of let your winners run and cut your losers short.
Apparently these guys have a lot of experience with neural networks and ai technology but none of that was viable in forex. That is why they developed the EM algorithm for forex.
A big thank you to Govi from Emalgo-Metapro team for helping me understand there ea much better
I just checked Emalgo’s stats and she is doing well! I have had a total of 9 trades and only 1 questionable loser. Right now the Emalgo team is looking into it because they have not had that trade at all.
so far the tp levels have ranged from 8.7 up to as high as 18.8
What I think happens is when a trade has legs Emalgo is better able to manage it and take a larger profit while simultaneously locking in profit.
I don’t know about running trade EA’s at this time, market is super volatile, you have central banks efing with the interest rates, bond prices are sku’d, and you have direct intervention in the markets by the ECB, Federal Reserve, and the BOJ, to me, trading these days is a challenge enough.
But of course, carry on, I was just giving my two cents…
Emalgo guys just removed yesterday the show account from their website.
They hat a bad drawdown over 250 pips…but anyway i can not see why they would then delete the show account!!!
By the way:
Is it normal, that the status of EMALGO keeps for many hours in yellow letters saying:
SELL Call - Waiting for confirmation ?
:44::44:
