Well... here is my forex performance as of June 08. Slowly but surely.....
Forex Performance till June 08
I fumble with my liteforex account with another new Forex EA. Forex EA Tracer (http://www.forextracer.com/).... *Please do not get this EA* You can't control the lot size, and the backtesting result was not that impressive. Lost f*@king 30bucks on two lousy trade.... Well, it's small money.... and I got my refund from Clickbank... Seriously not worth the time and effort.
But hey... I guess you can try
Sighh.... Oh well... at least my Interbank and Masterforex recorded profits....
Well, after four months of testing, I have decided on which forex EA I will be using. And these are the few EA that I have tested and sticking to it from here on end.
I also have three forex brokerage account
Interbank – Main Mini Account
Masterforex – Main Micro Account
Liteforex – Secondary Micro Account
I use my micro account to test the forex EA live. Also because I still had some funds from eGold I though it would be a great way to utilize my funds, while testing it live with small capital. Just to see if it can work like a normal HYIP.
I only upgrade an EA to my live mini account, when I have tried and tested it either via backtesting or forward testing on my micro account.
So here it is…. My forex EA that I am currently using.
Well, it’s been four months now and I must say, my forex Expert Advisor performances are pretty disappointing.
I guess it is my fault. Too must testing and tweaking on my live account.
I previously mention before, if a forex EA is that good, base on their testimonial and forward result, then why not straight away put it on live?
Yes, that was the principle I went on. And to make matters worst, I was greedy, I committed on of the SINS in trading….. I overtraded.
Even if you have the best forex EA around, I still should not overtrade. EA were made to trade automatically for you on a 24 hour market, and thus, prudence must be taken to PROTECT YOUR EQUITY/CAPITAL. That was the main and number ONE rule that I broke.
So, one piece of advice here is, even though Automatic Forex Trading are now possible, one must not treat it as a cash cow machine and think that it is the holy grail to make money from the market.
Number One Rule should also apply on automatic forex trading. DO NOT OVERTRADE. (mental note)
Ok.. after 4 months of automatic trading while I did not lose much, it is still a lost. Profits wiped out.
Well, after taking a beating as of yesterday, I put more thoughts into what I wanted to do with my current forex EA condition.
As you can see, after 3 months of trading with forex EA I am back to square one.
I have posted my statement here for the world to see what I have done with my account. Well, the history is like this. I started out with Forex EA Shark. It was pretty impressive and I have manage to secure quite a good profit.
Then later on I bought into another EA Touch the Sky and the result was pretty erratic but my EA Shark helped in so many ways. But because of the new EA Touch, I had to reduce the number of lots for EA Shark because I learned that you only risk about between 2% to 3% of your equity.
Since my last entry on forex, my account took quite a beating. I think now I am currently where I at since I started out with Forex EA. My profits were completely wiped out!!
Well, it was my fault, I was tweaking with a few EAs and not using demo account to test it out first.... but what the heck! If a forex EA author prove to us that their EA is making them money then why should I try it out on a demo account?
In some ways I understand that when you use a demo account, you test out the EA first. But why? Hasn't the author tested out the EA already and have posted his results? Why should be retest it again to verify the result? In the first place, we should not even verify the result. If the EA seller was honest, then the result should be 'as is' and when we purchase an EA. The product should be good to go LIVE!
So going by that principle. I stumble upon a few new EA, and put it down LIVE. I guess I have to wait for a few more days when this months closes and then I will post my performances thus far.
In the meantime, I probabily would post some reviews on some of the EA's which I have bought.
Nice layout… but still the same application. Give you the option to import data from MetaTrader. It now comes with a very nice video tutorial. Other than that, it is still manual labour entering data into Forex Killer.
Forex 
