Going to post up the results of a system and EA which i’ve been monitoring for a few weeks and have now bought. Marc Fric, the author, has been recording the results on the heavyweight trade2win forum since the 10th August.
The results recorded have been very good and back testing by a poster on that forum has shown an average 350 pips a month profit going back nearly 3 years. Prior to 2007 though the system would have actually lost money so i’m not sure what changed in the market after 2007 but its obviously benefitted this system.
The purchase of the system also gives you an EA which will trade for you and apparently this is now totally error free. Interestingly Marc uses Alpari Uk which is where i had issues with the 1minute daily EA so the issues may have been with that EA itself rather than the broker.
You can obviously trade manually if you wish following the indicator which appears at 6.30 am (7.30am from next weekend) but i’d prefer to let the EA do the work. The standard setting is for the EA to move the stop loss to break even at 24 pips profit and the standard target is 40 pips profit with a 40 pip stop loss.
The question is will it fair any better than 1minute daily which, to be fair, is still well ahead of its starting balance but had such a big drawdown i felt i should be looking for something a bit steadier. Previous results would seem to indicate Forex Morning Trade falls into that category so we’ll see.
More details here.
Service-wise i appoached Marc as a potential buyer rather than someone offering to review his product on a blog and he has been extremely helpful. The EA and indicator are straightforward to set up anyway but he does seem to want to make sure you know what you’re doing.