Blog Archive

Forex Combo System - Expert Advisor in Forward Test

Forex ComboI've recently placed the Forex Combo EA into forward test while I carry out some strategy tests and analyse the results for a review.

Forex Combo seems to have been performing profitably for a while now and one of our MellyForex forum members asked if it was possible for me to review it. I took up the suggestion and emailed the developer who promptly replied to my request and kindly provided a review copy.

The EA trades on two currency symbols and gets its name because it uses a combination of three different strategies within the EA. The three strategies are described within the Forex Combo user guide as being "Scalping", "Breakout" and "Reversal" which all sound very encouraging.

I'm not entirely sure what my tests are going to reveal but, seeing as the EA seems to have been performing well in both a forward test running on the developer's website and it has also started well in my own forward test, I'm certainly hoping that this EA will live up to its early promise!!!

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MellyForex July Update

MellyForex July Update I had hoped to be able to report around this time that I'd put another robot or two into forward test but, unfortunately, that isn't the case. The truth is that I haven't seen anything new over the last few weeks which has captured my interest sufficiently to put into test and write a review.

C'est la vie!

All is not lost, however, as it has given me the opportunity to provide a general update on progress and to cover several minor points which wouldn't otherwise be worthy of an article of their own.

Recent movement on my Robot Leaderboard has been less dramatic and it's becoming increasingly obvious which are the good quality robots and which are the ones that will never make the grade.

PipRider has regularly occupied one of the top spots since first going into test and, despite struggling a little with market conditions over the last few weeks, it is clearly developing a reputation for being one of the safest robots around.

Wall Street Forex Robot has been going from strength to strength and it is now safely holding on to first place on the leaderboard. One of the reasons for this is the fact that it is able to trade four different currency symbols, so those extra trades mean that it is always going to win more pips than, say, PipRider which only trades one symbol. Coupled with this, the effect of using an EA with multiple symbols can have a smoothing effect on the balance curve and serve to lower drawdowns.

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Forex WindFall, Morpheus OddBot and Wall Street Forex - Expert Advisor Comparison

Since conducting my reviews of the Morpheus OddBot and Forex WindFall Expert Advisors and putting them into forward test, I've had a number of emails in which it has been suggested that these EAs are little more than clones of the more established Wall Street Forex Robot which I also reviewed a while back. The fact that all three robots trade the same two currency pairs (GBPUSD and EURUSD) is something which has added weight to this theory, despite the fact that Wall Street Forex Robot does trade other symbols as well.

If anybody reading this articles happens to follow me on Twitter, they will know that, as well as providing up to the minute news and snippets of useful information from Forex dealers' desks, the trades of the top performing robots in my Live Leaderboard are all tweeted as they are opened and closed.

A couple of weeks or so back, I was looking at my tweets flowing thorough when I noticed that the three aforementioned robots had all opened trades in the EURUSD pair within a couple of minutes of each other.....

Twitter trades

I guess it's only fair to make clear that, despite opening at the same time, the three trades on my Twitter screen all closed at different times and, therefore, ran to totally different outcomes, and I'm confident that the three robots certainly aren't clones of each other.

Seeing the tweets appear simultaneously, however, gave me the idea to produce an article which examined the robots in greater depth to try to determine if the three robots could work in harmony with each other on the same MetaTrader account.

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Forex WindFall - Expert Advisor Review

Isaac NewtonWhen a windfall apple fell on Sir Isaac Newton's head all those years ago, I'm quite sure that, even with his great mathematical skills, his vision didn't extend to an age where robots ran on computers to trade financial markets. Now, over four centuries later, one of the latest Expert Advisors to gravitate into the apple box of MT4 currency traders is called Forex WindFall.

In truth, the Forex WindFall EA has got absolutely nothing whatsoever to do with either Sir Isaac or falling apples, although I make no apologies whatsoever for the cheesiness of my introduction, given the seriously limited amount of material I could find on the web relating to anything of the same name.

Now we've established that my sense of humour has taken a severe turn for the worse, it's probably best that I get to the point and move on to discuss the Forex WindFall EA in some detail.

The WindFall website isn't glossy by any stretch of the imagination. Instead, it is quite factual and contains backtests of the EA together with a link to a verified MyFxBook account so that people can monitor WindFall's live progress. The website also includes a members area where WindFall users can download their copy of the EA, nominate and change the three MetaTrader account numbers upon which they are allowed to use the EA, and also view a copy of the user guide.

The WindFall user manual is also well set out, containing a total of 16 pages of which around half relate to installing MT4 and the remainder are dedicated to setting up the WindFall Expert Advisor itself.

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