FX Monetizer is a volatility based EA which is showing very nice performance.
The ref account is FX Monetizer Real Account System by fxmonetizer | Myfxbook
Currently running on Activtrades from many months with very good results (Currently at 2nd place on my best performing EA after Cabex)
FX Monetizer has the 2 things i look for in choosing an EA
A nice looking forward test
Very good BT results (with BT trades matching trades triggered on real accounts)
Up to now almost all EAs i have used and not matching both aspects i have lost money
NeXT days will post BTs results
Currently running only EURUSD Also if GBpusd results looks a nice but BT on GU Are not so good
Also Forexgermany and Birt Are running a forward test on Monetizer and ForexGermany on all 4 pairs
If someone is using this EA, pls share results and impressions
Yes volatility and Breakout based EA Are all going nicely now and Currently running all of them (if i do not miss some of them):
FX Monetizer eurusd only: has its bad periods but is a very good EA (same developer of FGB, so the support is not the best you can find but Anyway they reply). With Monetizer DD is much lower than FGB
Keltner Pro: eurusd last weeks is suffering while gbpusd is earning nice money. Long term BT on eurusd Are very good
Forex Real profit EA strategy 5: running from few days on IC Markets and on my Tickmill demo and Currently running a long term BT on eurusd, but it wil need at least 40 days due to High level of protection of the dll. Later will BT Also gbpusd, usdchf and usdjpy
FE Combination Vola strategy: i like a lot this EA specially the volatility staretgy and the scalper called Machine: running a long term BT but will Need some weeks
All the volatility BO EA have a very good risk to reward ratio and looks as long term strategy
Of course when we have Markets with spikes and retracemnts These eas can suffer, but the DD should be acceptable and when the Markets start to trend gains are very High
The problem i have with such eas is that they make huge amounts of money in a short time but also loose fast when volatility goes down. Look at FGB for example: Forex Growth Bot System by fxgrowthbot | Myfxbook
Here you put amount x on your account and 4 years later (here around juni 2014) you have amount x.
Not a big deal and nobody knows how this will continue. Maybe in 2018 we are again at 0%
FGB shows these huge DD periods also in BT, while in the other volatility BO EAs i have mentioned the DD is much lower. Exactly for this i am not running FGB. I will post later BTs for Monetizer (trades match with the real ref account of the vendor) and will post the BT of other volatiltiy BO EAs in new threads i will open on these eas.
As for Megadroid i agree: is a very good ea and currently i am running it on 3 different accounts
Are these EAs that you are speaking of, such as the Megadroid EA, paid EAs that I would need to purchase or are they available for me to download and backtest? I am using FXCM with Tradestation software.
Are commercial EAs, so u will need to pay the licenses. And Are Made tombe used on MT4 platform. Only Forex Real profit can be used Also on Dukascopy JForex
I also run all pairs but then curtailed to EU only as this is the only pair vendor has live fwd test but from the last couple of weeks am quite and not running EU, but I will assess situation and may set up with smaller lot size.
Hi Forexfish, is a pleasure to see you posting here. I hope we can create again a nice community speaking in a free way of automated trading sharing our experience. I like a lot breakout and volatility based EAs since they usually have a very good risk reward ratio and for These types of eas Backtests have a very good reliability. Currently running Monetizer, Keltner, Forex real profit which has a very good breakout strategy on eurusd, gbpusd, usdchf and usdjpy, and FE Combo, which has a Vola strategy on EU. I consider all of these great EAs. Currently BTing FE combo and Frpea and hope in some weeks to have the results.
Of course Also breakout eas has his Achille heel: if the pair spikes and then retraces stop loss Are hit. We have experienced this on Monetizer this winter and it was very stressing. But then the EA recovered. Now Keltner is losing money on his best pair (eurusd). Don’t know which vola based EA is the best, but hope to have some indication on this by my BTs. The secret is to use an acceptable level of risk and to not stop to use the EA after a losing streak of trades
thanks corre, yes I hope we can have re-build our community here. I also like breakout EAs and glad to hear EAs are working well for you, these days only few eas are in greens. This is the problem we dont know which ea will perform when and which ea start its bad patch so best is to run atleast 5 or more with equal proportionate capital so if one or more do not perform well then its impact on total trading capital would be minimal so best approcah is continue run good EA even if it is in bad patch as you never know when it recover, I have stopped FD, Polygon, WSFR, Monetiser but I would start soon, the best these days for me is gto + benz, hope to have consistent results.
the system made around 2.38% this year on vendors account. dont think its worth to run and bind capital with this strategy right now. There are better eas out there.
Anyway my opinion on Monetizer is not completely positive for the following reasons:
The support for sure is not the best
Trading with Monetizer is frustrating since it holds trades too long (simply compare the average holding time of Monetizer with the values of other BOs) and many positive trades turn in losers
The % of winning trades is low, about 42%
Anyway imo is a good strategy, but should be used only with EU
Currently using other BOs and also if it is too early i like more FE Combo and Forex Real profit EA than Monetizer. Trades Are closed much faster. Using Also Keltner but at the moment only gbpusd has having good results while EU is losing money, but i am confident it will recover
As promised, attached the screen of my results on Activtrades, much better than on the ref account: seems the EA is quite broker sensitive
So at least for me the results are not bad, but again, the EA can be frustrating because hold trades too long and can have a long string of losing trades. It need patience and confidence
Monetizer went through a Golden Patch last year of about 16 trades in a row of profits - then all of a sudden like 10-12 s.l in a row.
Prior to that I advised to lower lot size due to this chance of happening – and that is what happened in the end.
It has been doing much better lately - and overall it has made me good money.
I wish it was a bit smarter the way it traded - trailed stop loss and exited … but the main thing to me is - that when a big move happens I have a fair chance of getting a position on and making some money … which are the moves which tend to wipe out other types of EA’s
… summary : this is not the first EA I would buy for a portfolio - but I do feel it is worthwhile owning… just adjust lot size to the type of market we are in at the time.
