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Primus-Alpha EA - Expert Advisor in Forward Test

NexGen4x Primus-AlphaA while ago I asked NexGen4x who market the Primus-Alpha EA if it would be possible to conduct a review of their Expert Advisor for MellyForex. My request was initially declined, but they've recently contacted me again and offered a copy of the EA which they've now asked me to review.

The Primus-Alpha EA works on the 5-minute EURUSD chart and seems to employ two separate strategies within its logic.

The NexGen4x website describes the first of these two strategies as being medium/high risk.

Primus-Alpha's first strategy seems to trade quite infrequently (less than 1 trade per week), and the money management logic of the EA applies comparatively small lot sizes because of the elevated level of risk which is associated with each trade.

The second strategy is described as being low/medium risk. The trade frequency of this strategy seems to vary between 6 and 20 trades each week, and lot sizes are larger because of the lower risk associated with this strategy.

The Primus-Alpha EA also seems to have an option of supporting each of its two strategies with an additional grid strategy. At this stage, I can only guess that this works by adding to a losing trade if it doesn't go quite to plan and moves out of the money by a certain amount.

Readers of my earlier articles will be aware that adding to losing trades is a massive trading no-no in my eyes, so this will be something that I look at in closer detail within my review. You've only got to look at another grid system, Forex Crescendo, which I've previously reviewed and also have in forward test to see what can go wrong with this type of approach. I certainly hope that Primus-Alpha will be different!

While I'm carrying out my tests on Primus-Alpha and preparing my review, I've set the EA up in forward test on a $5k demo Forex Central Clearing account. As I've mentioned elsewhere, this is a true ECN account quoting raw spreads which are often as tight as 0.1 pip, and the FXCC demo price feed is identical to their live feed, so it will hopefully simulate Primus-Alpha's live performance as accurately as is possible. In common with ECN accounts, a commission of 1.0 pip is being charged by FXCC per round trip trade.

The Primus-Alpha EA has a lot of parameters which can be adjusted by the user, but I've set it up using the defaults as recommended within the instruction manual. These defaults include having the back-up grid strategy that I mentioned above switched on.

One parameter that I do like to control myself (or, at least, be aware of how it is being employed) relates to slippage, but there is no slippage parameter that I can see to adjust.

Another parameters that I do generally monitor myself is the level of risk, but Primus-Alpha is different to many other EAs in so far as users need to enter an amount in lots per $1,000 of account balance or account equity. I've used the EA's default settings, but I've not calculated at this stage what the risk in percentage terms will be if a trade runs to full stop-loss.

As with my other robots in test, you can monitor Primus Alpha's performance at MellyForex by clicking here.

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