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.

I intend to stay in this forex game for quite sometime so I am not going to blow my equity so fast.

Anyway, at the height of my profitability, I though it would be a great idea to test out this new EA MTF. And that was when it turn out to be a nightmare. On top of that, EA Shark also took a beating last month. So every EA took it’s toll. And thus, I had to deactivate all the EA and go back to basic and step one again.

Step one is to reactivate EA Shark and leave it to work as it has proven over the pass three months to be very consistent.

Step two is to go back to basic which is to backtest EA MTF and find the best settings before I go LIVE with this EA. Yes, I did say that why should we backtest an EA when the author has already tested it out and publish his results.

Well, I guess for this I need to backtest it and tweak it in such a way that it would suit my account size. EA MTF apparently uses a very big drawdown which is about 30% which I do not intend to do. Just see my statement graph at the bottom and you will notice that if I do close it all out, this is what I am left. Almost $150 wiped out just like that…..

So back to basic with this one until I can find the right settings…. and this particular EA is not as straight foward as EA Shark.

Oh… and also I deactivated EA Touch the Sky because it was not profitable neither was it losing me money.

Even though I am still up by 16 bucks, I think some corrective measures are in order don’t you think?