Again: be careful with myfxbook reports

In my quest for the Perfect EA, I found GridMeUpFX, a grid system that loses very rarely. It’s very cheap, a free version it’s also available and they keep a public profile on myfxbook, with this graph:
Awesome, right? But, on the top of the page you can read: “This account uses a custom start date”. Why it should start on 13th february 2012? I go on custom analysis and I try to go back one year:

It’s possible to fake a myfxbook graph?

On an Italian forum I found a guy that can tell you the secrets of the forex world (100% wins, 100% safe, no drawdowns, and so on) in exchange of money and joining a Ponzi scheme.
To better support his theory, he published a wonderful myfxbook graph with mirabolant profits, “showing the real deal”.

Oh, really? So this is my myfxbook graph, I show that I went from $195 to $54k:

Great, right? It’s also verified!

(Yes, I faked it, but for obvious reasons I won’t tell how I faked it so well – I left two evidences of faking, can you find them? Ha ha ha)

NumberOne live forward testing ended

Due to a strange locking error that NumberOne gave me yesterday, and since the free trial expires tonight, I decided to end the live forward testing of NumberOne and SteadyWinner; this is the result:
(the profit is small because the equity was minimal)
Unfortunately, due to that general error of yesterday, NumberOne on Pepperstone missed a beautiful 10 pips trade (that makes 30 euro with the lot settings), and everything would have been sweeter.
Those two weeks were a little bit disappointing, but, with the traded lots and the paid commissions that exceed the profits, I should get around 20 euro from Cashbackforex at the and of April, not bad if I consider the small equity.
From tomorrow NumberOne is not free anymore, for now I won’t buy it because, with the small capital in my account it will be impossible to recoup the cost of the (expensive) annual licence.
SteadyWinner for small accounts, the free version that I use, limited to trade a microlot, had a good result compared to the equity, but if it was bigger, it wouldn’t have been worthy, maybe the $88 full version would be more profitable, but for now I am not interested to buy it.

My best systems is back?

Last month, My best systems
has abysmal performance, and made me lose hundreds of euro. Seeing red, I disabled it, but still watching it in demo. It looks like the old strategy is back, and the last three weeks are good.
I enable it again with a microlot, let’s see what it happens… I hope I won’t be like those that disable before a gain and enable after a long winning streak, getting only losses…

Update 30th March: it opened ten identical trades at the same time, crazy

Results of the first week of NumberOne and SteadyWinner

Here are the results of last week of NumberOne and SteadyWinner on my two live ECN accounts.

Number One:

FXPRIMUS

  • 03.20.2012 16:49  -3.0 pip
  • 03.21.2012 17:15  +0.2 pip (with commissions this is a loss)
  • 03.21.2012 17:55  +4.2 pip
  • 03.21.2012 17:56  +4.6 pip
  • 03.22.2012 11:29  -3.0 pip
  • 03.23.2012 11:32  +4.2 pip

Total:  7.2 pip

Pepperstone

  • 03.20.2012 16:49  -0.5 pip
  • 03.21.2012 17:15  +0.2 pip (with commissions this is a loss)
  • 03.21.2012 17:55  +1.7 pip
  • 03.21.2012 17:56  +4.7 pip
  • 03.22.2012 11:28  -3.0 pip
  • 03.23.2012 11:32  -3.5 pip
  • 03.23.2012 11:32  -3.8 pip
  • 03.23.2012 11:32  +5.3 pip

Total: -2.0 pip

SteadyWinner:

FXPRIMUS

  • 03.20.2012 02:04  +3.0 pip
  • 03.20.2012 05:12  +7 pip
  • 03.21.2012 10:17  +2.1 pip

Total: 12.1 pip

Pepperstone

  • 03.20.2012 02:04  +3.8 pip
  • 03.20.2012 05:06  +6.7 pip
  • 03.21.2012 10:18  +4.5 pip

Total: 15 pip

It’s a pity that the free version of SteadyWinner trades just 1-2 microlots, the gain is a small change…

Tradency

I tried a Tradency demo with my broker. It’s something similar to ZuluTrade, with much more eyecandy, but much less functional, because it’s made in Flash (so you can’t open multiple pages or something else).
The way to choose the signals it’s crazy, the stats are very limited, there is no backtest: you just blindly pick one and hope it’s a winning one.
The demo it’s given with a fixed amount of money: 50000 dollars, an irrealistic amount that won’t produce any decent result. Moreover the demo it’s time limited in 30 days, so it’s impossible to try long term strategies. Also ZuluTrade demos are time limited, but there is a glitch to have them unlimited.

Update: the demo is not limited to 30 days, but is limited until the end of the month. Absolutely useless!

NumberOne EA

I found a scalper EA that looks very interesting: NumberOne. It does short trades doing a few pips, but with big lots, so it can make a nice profit with a relatively low risk.
Due to its speed, it needs a broker with low spread and an ECN account, there are a few recommended ones, from the list I chose FXPRIMUS and Pepperstone. I opened a small account with both through CashBackForex, it’s free and due to the high volume of trades there should be a nice rebate at the end of the month.
The EA it’s in free beta until the end of this month, let’s see how it will perform on those two accounts.