SteadyWinner on GBPUSD

When I want to use “strange” strategies, new systems, settings or else, of course I use a demo account. (This is the public profile – you can copy it with ZuluTrade, but I don’t suggest it, it’s devoted for experiments)
If you remember it, a month ago I wrote that I would have stopped to use SteadyWinner free.
In fact, the winning ratio is high, but when it loses, loses too much. I didn’t remove and delete it, I put on demo on the  GBP/USD pair, instead of the recommended EUR/USD pair.
In a month it traded much less, just 7 trades, but it didn’t perform too bad, this is the complete report of all the demo experiments:
(Notes on the report: #7 and #10 are censored because it’s a good EA, but I set it wrongly, the bad result is my fault. EA Boss looks great, but it was crashing my platform every day at 11pm, causing losses for hundreds of pips (not pictured here for an unknown reason). It would be interesting to reverse the #12, but it’s just a trade copier from a remote server, so I am not sure how reliable it is in long term)
In this five weeks SteadyWinner free on GBPUSD had a better performance than the Euro/Dollar default setting, although much more slow (just 7 trades).

I’ll continue to keep it in demo for more time.

I bought MegaDroid

Searching for the Perfect EA, I found Forex MegaDroid. It’s NOT perfect and profitable as they advertise it, but it seems that it can achieve good results in the long run, I did some considerations and I decided that it’s worthy to try it.

Pros:

  • It’s relatively cheap ($67)
  • It has consistent results from many years
  • It has 60 days refund policy
  • When bought from CashBackForex you can get a $20 discount on the next EA purchase. Probably I will never use this bonus, but it’s a nice addition.
  • On forums some people talks good about it
Cons:
  • The website reads “SCAM SCAM SCAM SCAM”
  • The website shows irrealistic results (11356%???? LOL!!!)
  • Before buying it you have to scroll on 4 pages of marketing buzz
  • A license can work on only one live account (Bummer!!! I planned to run it on three accounts!! Why they didn’t write it more clearly??? I wouldn’t have bought it, then)
  • No discount for additional licenses (Bummer again! But as I said it before, if you buy it a referral link from CashBackForex you can get $20 discount on the second purchase, but probably I won’t buy another one)
  • It doesn’t trade like a maniac in the safest setting, so it will get some time to get the $67 back
  • The stoploss is very far, if you hit it, it will make a big dent in your account if you set an exaggerated risk level
  • On forums some people talks bad about it
Anyway, I installed it on the Pepperstone razor account and I disabled SteadyWinner, let’s see the result in the next weeks.

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.

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…

How to get a rebate for each trade

Today I opened a new account to trade with MetaTrader: SteadyWinner makes a very small profit (maybe it’s too small, I’m evaluating if the effort is worthy), and lose a big part of it in fees it’s a waste.
This time I did not open the account in the common way, but I opened it through CashBackForex, a service that, for each trade, gives you back a small part at the end of the next month. How it works? Thanks to an agreement with the broker, they take a small part of the fee, because they introduced a new customer. Then, they share the money with the user.

For example, if you register to InstaForex through their service, you will get an 1.3 pip rebate for each trade, both winning or losing.

They made agreements with a lot of broker, this is the list:

Results of the first SteadyWinner move

Yesterday night I was worried about the first move of SteadyWinner, this morning I found the result.

SELL    EUR/USD    0.02 lot
Open    2012-03-12 06:48:14    1.31016
Closed    2012-03-12 08:19:38    1.30984
Max    4
Min    -15
Result = 4 pip – 1 pip for commission fee: 3 Pip
$0.44

SELL    EUR/USD    0.01 lot
Open    2012-03-11 22:06:00    1.31198
Close    2012-03-12 00:17:02    1.31154
Max    5
Min    -6
Result = 5 pip – 1 pip for commission fee: 4 Pip
$0.34

Total: $0.78
Probably I could have made more if I was begging on the street, but, as the Japanese are saying, 塵も積もれば、山となる, “even dust, when piled, will become a mountain”.

It’s a pity that, since I opened the account through ZuluTrade, an extra pip for commission fee is added, even if the platform is not used…

Let’s try SteadyWinner

As I said in the previous post, recently I was disappointed of my signal providers on ZuluTrade. It seems impossible that something that worked perfectly for months, suddenly creates huge losses.
So I started to search some Expert Advisor: for trusting a robot and don’t interfere with its actions, I need to understand its strategy. Look at My Best Systems, he almost killed my Zulutrade account, with a sudden strategy change. The chart looks very good, but nobody recovered in that way, unless had unlimited funds. The provided gambled, with a sink or swim move.
Between the thousands of Expert Advisors that you can find on the Internet, I found SteadyWinner; does look good, and it’s free for small accounts (you can use also with a big account, but it won’t open as many lots).
The annual ROI is very low, but with 4-5 monthly trades, you can’t get more. It’s interesting because it’s fully automatic, opens positions according to the available margin, to minimize the risk.
I got convinced to try it just because it has the free demo before buy, let’s see how it will perform, I enabled it on a VPS that I already own (due to the low ROI, it doesn’t make sense to rent one just for this, unless you invest thousands), let’s see the results in a few months.