Two weeks with BreakON

Two weeks ago I announced BreakON, the ZuluTrade signal based on drcrck’s breakout strategy (about him: take a look to his two new creations: BreakIN and XITD Grid). How it was?
The graph speaks by itself:

The ZuluTrade graph insteas is less “awesome” like the myfxbook one, because the maximum drawdown on a trade marks a negative peak, probably they did this modification to deter risky trading strategies…

…but on my ZuluTrade control panel I see the “right” graph

I won’t buy CypherFX

A few days ago I was thinking about buying CypherFX.
In fact there is a 50% discount promotion, and the price looks very good. But, there is something wrong, and I decided that even $147 is not worth, this is why:
  • The website is full of the usualI marketing bullshit. Enthusiastic reviews that are blatanly fake (I read on donnaforex that were present even before the actual EA commercialization!), impossible promises, and so on. The perfect website that a company that makes EA should be like the SteadyOnFX one. Just a plain wordpress site, with REAL RESULTS, no bullshit, no demo testing and no backtests based on hypothetical results from 1999. I can’t go back in time and use an EA from year 2012 in the year 1999 like the Megadroid guys are doing on their website.
  • They have 2893 fan on their Facebook fan page.
    That’s impossible, all of their posts are useless garbage spam (it’s their trades and some other marketing). Who would fan them and see thousand of those messages?? They used black hat techniques to get automated registrations from thousands of fake users to get a lot of “fans”. Just see the stats to understand what I mean! They get 1500 fan a week and most of them come from New Delhi…
  • They have 2168 follower on Twitter. Here is also impossible, their tweet are 100% spam, who is gonna follow them??? Let’s make some example! @t51115381, @Zokimaster, @shaunhirst1, @Yeliane
    registered on Twitter JUST FOR FOLLOW THEM (they never tweeted something!), and the others seem like they subscribed to an automated “mutual following” service to get an higher follower count and get a longer e-penis.
  • The system creator is famous for his marketing campaigns, like his “magic” video course on oversold-overbought, that actually is an indicator that say when buy or sell. For just $10 I was tempted to buy it, then I realized this: if this indicator is that magical, why he didn’t make an EA out of it? Probably it’s not that magical, if it doesn’t make profits, the user will think that he made something wrong, instead of blaming the system.
  • I read on donnaforex that the tech support doesn’t answer email.
  • I read on donnaforex that people have open trades in loss from the 1st november (almost a month!)
  • I read on donnaforex that someone lost the 30% of his capital (but they set the aggressivity/risk to the max).
  • On donnaforex there are many people writing about the losing trades opened a month ago, but the seller doesn’t answer it. Instead, he wrote about the black friday sale!
  • Then the main reason: the official myfxbook account
    doesn’t have the negative trades that the customers are claiming on donnaforex, and does not trade since 16th november! (one week) It should trade everyday! They disconnected it intentionally, to hide the losses? The open trades are hidden, maybe it’s down hundreds of pips, but the graph shows only profits! In the forex world transparencyt and honesty of sellers is a must, how can I trust someone that hides bad results by showing only good ones?
I have to say a  “thank you” to the heavy Italian taxation: I already clicked “buy now” when I noticed that a 21% VAT was applied to the total amount! I shouted “WHAT???” and I closed the window, having more time to think about it.;-)

Apple vs BlackBerry

Playing with the new Android MetaTrader app (it’s available also for the iPhone), I found that with FXPRIMUS you can also trade on main stocks from NYSE and Hong Kong SE (for example: HSBC, Tencent, Pingan, Apple, Amazon, Facebook, Google, IBM, Intel, Starbucks, Yahoo, etc…)
I watched what happened on the value of Apple after the launch of the iPhone 5, a total success in terms of sales, but, according to some experts, it was disappointing: nothing new under the Sun. Before the launch, the stock value rise to set a new record at $702 on the iOS6 launch day. And now?

After set a new record, the stock is going down (but its value it’s still high)
Instead, what happens in the opposite side of the match, on the RIM stock value, the BlackBerry makers?

They once ruled the smartphone market share, with a de-facto monopoly on the “business” phones, but now they have just a minimal share: I own a BlackBerry 9300 and it’s very outdated compared to my HTC Android, even if they have the same “age”. Yes, the few functions are done quickly and the battery lasts a lot while my HTC dies in less than a day, but there is the feeling that they rested on their laurels for a long time.
But, in the last 24 months, the R&D was active, made many strategic acquisitions (for example: QNX – unix-based operating system, TAT – the studio who designed the Android user interface, Documents to Go – the best Office suite for PalmOS and Android, Torch Mobile – the best browser for Windows Mobile, etc…) and at the end of september they announced that the 30th of january the first BlackBerry 10 handset will be on sale. I own a preview prototype, and it’s awesome.
In the last years the stock got depreciated, falling from the $140 of the pre-iPhone era to a measly $6, reached on 24th september 2012. The day after, the 25th september 2012, in San Jose, California, BlackBerry 10 has been officialized, this is how the market reacted:
What will happen in the future?

NumberOne 1.5 is out!

Yay! SteadyOnFX published the new NumberOne 1.5, with many new features!

  • Trading on M1 and M5
  • It can work with FXPRIMUS again
  • Four months license for free for existing customers (63 euro value for IB version and 266 euro value for the Full version!)
  • The new M5 logic works on most ECN brokers and doesn’t need very quick execution times!

I just installed it and I am eager to see the new trades!

What do you think about CypherFX?

I saw on DonnaForex forum a thread about a new EA: CypherFX.

In my opinion, the graph is so “winning” because they set it at a very high risk

The thread has been started by someone that would get a commission on sales, so, like most sellers, expecially in the Forex world, his words must be taken with a grain of salt, but the results are not bad at all!
The EA costs $300 for an account license, and $500 for the 5 accouns license, but for Black Friday, you will get a $150 discount if you order it from this link. (And maybe a $7 rebate if bought from the DonnaForex referral link – but I am not that sure, I should ask. It’s E forse un rebate di 7 dollari se acquistato tramite il link referral trovato su DonnaForex – ma non sono sicuro, dovrei chiedere. It’s not charity work of course, he will take something like the 25% of my sale, and he will send me back the 5% after 60 days as a rebate, to incentive me)
Trades a basket of pairs, balancing losses with gains, it’s similar to the free nanningbob, with the difference that the latter is difficult impossible to configure correctly: I got margin called in a few weeks on two demo accounts. The basket is kept up to seven days.
It seems that it gets entry points from a remote server, making it impossible to backtest it (and to pirate it – unless they badly coded the authentication system), but for $147 looks very interesting, what do you think about it?

New signal: BreakON

I opened a new live account with drcrck‘s breakout strategy.
If you have ZuluTrade you can follow the signal BreakON.

Since ZuluTrade doesn’t offer a precise way to calculate the risk, but has just that “risk-o-meter” that doesn’t mean much, I coded a calculator. Choose how much of your equity you can lose in an unlucky day, and it will tell you what’s the right size for you.

Open the calculator in a new window

The account statement is also available on Myfxbook, by clicking on the graph below:

How it works:

Every day the system makes 6 trades, only 3 at the same time, no hedging. The first trade has a large take profit, the second a less large, and the third is tight, to lock the profit. Each trade has a fixed stop loss at 35 pips, limiting your losses. At midnight all the trades are closed, in profit or not: I don’t like to keep them open for a long time.

How to change the password in MT4

Do you want to change the password on your MetaTrader account but you don’t know how to do it?The change password button it’s not in an obvious position!
To change the password, go to Tools=>Option (or press CTRL+O) and then press the Change button.
You have to insert your present master password and then choose if you want to change the master or investor (read-only) password.

My opinion about FXOpen

I opened a live account with FXOpen to do some experiments with ZuluTrade.
While I was waiting for the account activation, I installed their MetaTrader, I logged in, and I set all the graphs and indicators I use the most. There was also PD Info, an indicator that shows in a glance all the trading parameters.
And I saw a shocking one: the stop level on EUR/USD is 10 pips! Ridiculous! It means that it’s impossible to set a stop loss at less than 10 pips from the actual price. I could understand a value like that on an exotic pair used by few people, like the dollar/turkish lira, but on euro/dollar it’s totally unacceptable! Who has to make profit from my operations? Me, or the broker? The answer is obvious, and,  in fact, in this post there aren’t screenshots: after seeing such a value, I immediately uninstalled their MetaTrader and closed the account! (Luckily for the month of November there are no fees for deposits and withdrawals made via Skrill!)