Week Ending Wrap Up
Hello Everyone!
What a week. When is this trading dry spell going to end? All the major currencies have been stuck in a channel for weeks… it’s time for them to get moving!
Of course, not every strategy likes a trending market. Some strategies and robots absolutely thrive in a market like we are currently experiencing!
–**– NEW TEAM at MT247!! –**–
I would like to introduce everyone to Lucas and Gary, two new teammates here at Metatrader247.com!
Lucas has been working on setting up our new support ticket/knowledgebase system and Gary has been working with Joe and Rachel learning the ropes of customer service and technical support.
Eventually (soon!) this will mean faster and better support from MT247!
–**– More Signal Providers coming soon! –**–
We have been working feverishly behind the scenes getting things ready to add more signal providers to the AutoSignals system. Expect more updates in 2-3 weeks!
–**– Two new Expert Advisors –**–
We also just added two new expert advisors to our testing lineup. These aren’t “new” robots but they are popular and they’re new to us.
Forex Funnel:
http://www.metatrader247.com/ea_funnel.html
Forex Funnel is a martingale strategy (extremely risky, but also lots of potential) that caught our eye. The recent FPA trades seem to be doing well and it definitely intrigued me, so we had to start testing it!
Forex Fantasy:
http://www.metatrader247.com/ea_fantasy.html
Forex Fantasy has been out for awhile and was overdue for testing. The FPA demo has been running for about 3 months and now has a total net 37% gain. This isn’t one to expect weekly miracles from but we’re hoping it’s a good long-term option. I absolutely love the risk-to-reward ratio (100pip stop loss and 250pip take profit).
–**– New Optimism Rank for Forex Maestro –**–
It was at 2 stars because even though the recent results were good, it had dumped a demo account of mine long ago. However, after trading for an entire month, every demo (M5, M15 and M30) is doing extremely well and I had to bump up the rank. I’m starting to wonder if I was simply trading too many lots when it dumped my demo account months ago.
Another few weeks and I’m going to be very tempted to stick it on my live account. I’m not ready yet… but getting close!
–**– Update for Transformer and Poison –**–
I had to lower my optimism level for Forex Transformer from 5 stars to 4. I still see a future for it, and I am still optimistic, but the recent performance is mediocre and my results are not matching the results at Forex Peace Army. I have contacted Forex Transformer and am waiting to hear back for a possible explanation.
Same situation with the Poison Robot. Last time I checked, my results weren’t matching the FPA results very well. Even though the Poison robot isn’t a scalper, there are over 12 indicators involved in researching the market and determining trades, and sometimes signals can get mixed up from one broker to another. I was getting ready to raise my optimism level to 5 stars but I’m going keep it at 4 for now. It unnerves me a little that the results aren’t matching and makes me wonder how performance will be in the future… we will see!
–**– What would Scott run Live? –**–
Even though the website has reviews and real demo testing of all the robots, I still get asked the question “If you had to pick 1 or 2 robots to trade live right now, what would they be?” and that is a GREAT question!
First, let me say that the primary reason we started testing and reviewing was to help our members research their buying decisions (since you’re looking into EA’s anyway, we may as well help!) but offering actual recommendations wasn’t part of the plan.
However…. If I had to pick two robots RIGHT NOW to run live?
1) The M5G Cyborg. It’s a grid-trading EA that only runs 4 days a week, 2.5 hours per day… but what sold me was the long track record.
Our review:
http://www.metatrader247.com/ea_cyborg.html
Live-running account since February 10th: