Blog Archive

Volatility Factor EA - Expert Advisor in Forward Test

The Volatility Factor EA is in forward test at MellyForexThe Volatility Factor EA is the latest Expert Advisor to enter its forward test at MellyForex, and it comes from the developers of the popular and successful Wall Street Forex Robot which is also in forward test and has been reviewed elsewhere on the site.

The EA itself works on two currency pairs - EURUSD and GBPUSD - and runs on the 15-minute chart timeframes. It can only be described as a grid trader, which means that, at times, it's going to have multiple concurrent open positions which are in drawdown.

I'm not going to offer any opinion upon this particular trading style, as it's an approach which undeniably popular amongst many traders. I should also say that, in fairness to the developers, they have dedicated no fewer than six pages of their manual to explaining the EA's exit strategy and how it copes with drawdowns so that users know at the outset what to expect.

Forewarned is forearmed!

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New analysis features at MellyForex

MellyForex is pleased to announce new EA analysis featuresIt's not very often that I get a chance to blow my own trumpet, but I am rather pleased with the latest feature to go live at MellyForex so, hey, I guess it's OK to bring out the bunting and have a bit of a toot.

Since MellyForex started, regular readers will know that I've been publishing the results of all the EAs in forward test to MyFxBook. MyFxBook is a great website in my opinion; it's stylish and some of their analysis tools are very useful, however, I have had problems with some accounts not verifying and I recently noticed that a couple of EAs hadn't updated at all for 4 or 5 months.

With that in mind, I decided a while ago to build a new section on MellyForex where the EAs could publish their results and their performance could be analysed.

I'm pleased to announce that work on the new analysis section is now complete, and all results publishing is now being done in-house. Readers can access the statistics for any EA in forward test by visiting the leaderboard here and then clicking on the name of the EA whose performance they wish to view.

Each review/article at MellyForex has also been updated so that the old links to MyFxBook pages now point to the relevant page on MellyForex, and the old MyFxBook pages have been deleted.

I'm always open to suggestions for improvement of the analysis layout and features, so don't be shy with your suggestions.

In the meantime, please enjoy!

Fast Forex Millions - Forward Test Halted

Albert EinsteinI'm convinced that, if Albert Einstein were alive today, he'd quickly be able to crunch a few numbers and work out the inversely proportional relationship that seems to exist between hype and garbage.

Hey, if old Albert could have had all of those theories about negativity and cope with that funky E=mc2 stuff, it should have only taken him a couple of seconds to figure that the more an EA is hyped, the sooner it is likely to end up in the dustbin.

Anyway, my good nature prevents me from suggesting that the Fast Forex Millions EA is an over-hyped piece of trash, but I have decided to stop its forward test at MellyForex nonetheless.

To explain, ever since starting the test I've been having nothing but problems with some symbols failing to login and validate on the vendor's authentication server, and now the whole thing has stopped working completely. Given that the vendor's support is pretty weak (Oh alright then, more like bordering on non-existent!), I really can't be bothered to waste any more of my time with this EA.

There is a current open trade which will close either when its TP or SL is hit, and I'll just leave that trade to run. Ordinarily, the EA would have closed the trade long ago, but if it won't login to its authentication server, it certainly won't trade and the trade will have to stay open pending either of the orders being hit.

In any event, its performance hasn't exactly been stellar since starting the test. The EA has drawn down substantially, and I suspect a lot of punters will be giving this particular vendor a very wide berth from now on.

As the late Freddie Mercury used to sing, another one bites the dust!