Forex Flow

Trading Systems Expert Advisors and Automated Trading
1

Starting a thread about an EA that I started using earlier this month,

Forex Flow created by Excellent Fx Trading.

[B]Its a limited martingale EA.[/B] Yep, i’ll let 90% of readers simply rage and recall bad experiences at martingale in the past.

For those who are still here, it does use martingale on a trade that is moving against it but it operates the trades as a batch with a take profit and stop loss set for the batch. Additionally it will only go up to 6 trades(can be raised/lowered as needed).

[B]Some pros:[/B]
-Operates on AUDCAD and AUDNZD which are not being hit with quite the same systemic shocks as the EUR/USD at the moment;
-Has a news filter service to help prevent it from trading on days where unusual shocks will hit these pairs; and
-It is up 62.5% since Sept 2011 with a drawdown of 5.57%(Pulled from the official live real $$$ myfxbook account with $8500, dev believes in his own work enough to put some cash on it)

[B]Cons:[/B]
-Its going to hit my account with a decent drawdown one day;
-Costs me $25 out of pocket each month for news filtering services; and
-I cant watch it trade, squeamish when it opens a double sized trade each time.

[B]Uhm “Counter cons and the reason I keep it” (for lack of a better way of saying it)[/B]
-I know how much the drawdown could be and manage that through my risk settings. Then again, in January a lot of EAs hit our accounts with drawdowns.
-Its making me more than the $25/month and I happen to like keeping a EA dev motivated to keep me using it.
-I’m just to squeamish to trade forex manually anyway, thats why I use EAs and only check my account once a day :wink:

Some links that I may get hazed for using, found rules about not advertising or affiliate chasing but i’m just a user of the EA, nothing more.

Birt’s review/forward test of Forex Flow(He’s up 13% as of writing): Forex Flow live forward test | Birt’s EA review

Official myfxbook real $$ forward test: Forex Flow live System | Myfxbook

Link to forex flow itself: Home - Forex Flow

If your looking for a little bit of diversification within your EA portfolio give the information a read through. Trying to diversify an EURUSD EA with another EURUSD EA is like mixing Macintosh Apples with Golden Delicious Apples, why not throw in an Orange?

Also just a random bit to add,

ps: I run a Hotforex Currentex account and a CNS UK VPS and have had my trades exactly match the vendor’s myfxbook account.
You’d be trading AUDCAD/AUDNZD during EU Prime so not exactly AUD’s lowest spread times, keep an eye on your brokers spread and compare.

2

Well done for starting the new thread, Hamno, and excellent first post,

I am also a FF live user. I have left you a message on your profile.

In addition, support is lightening fast @ replying and very competent and accommodating.

3

End of the month update,

For the month of January Forex Flow delivered +300 pips for a +6.79% gain in my account. % gain slightly irrelevant due it being based on my MM setting, but my settings are not that far off the vendors account so i’ll throw it out there for some perspective.

4

Thanks Hamno. Nice Results so far.
Looks like a loss takes about 100 trades to recover from?
As you said you do not want too many of those.

Is there any logic to the opening of the trades? Or is there a 50/50 chance of a win or loss?

5

There’s a calculation to determine if FF wants to go long or short depending on how the market is doing. It chooses entry points and if the market goes against it it’ll wait for another entry point and try again, scaling up the trade to a total of 6 attempts. If it did stop loss it may not be the full 6 trade stop loss though.

Cant say the number of trades required to recover since not all trades in the batch close in a profit but the overall batch does. The only stop loss hit I can see on the official account running since Sept 12th 2011 was on Nov 15th where it only traded twice in the batch and the loss cost the account -3.3%. November still closed 13.3% up for the month.

For a 100% worst case scenario consisting of a 6 trade stop loss hit I’d estimate roughly 4 weeks to recover from a full stop loss on 1 pair, perhaps 6-8 on both pairs. Since Sept 2011 it hasnt happened though, so for those trading they would still be well in the money should it happen.