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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!

I've installed my copy of the Volatility Factor EA on a $5k demo FXCC ECN account which offers razor-sharp spreads.

Its trades are being published to MellyForex, and readers can analyse the EA's performance extensively in the Expert Analysis section of the site by clicking on this page.

I'm using the EA's default settings with the exception that I have set the risk value to 3.0% which is described as being 'moderate' within the user manual. Obviously, if I find myself in the situation where I have multiple open losing trades, I'll be risking considerably more than 3.0% of my account!

Discussion (1 comment)

  1. On 07/01/2013 at 07:47, MellyForex Admin said:

    We've been asked about settings that are being used in this test, so here they are. B-)

    The EA is version 3.0

    MaxSpread = 3.5
    Slippage = 0
    NFA = false
    AutoGMT_Offset = true
    BatterPricePips = 0
    MaxNegAdds = 3
    ForceProfit = 0
    ForceLoss = 0
    FixedTakeProfit = 0
    FixedStopLoss = 0
    RecoveryMode = false
    AutoMM = 3.0
    AutoMM_Max = 5.0

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