Forex Tools

Live Statement

Q. Do you have any forward tested results for this EA?

A.
Latest forward data results are posted here. We also post updates on the blog with commentary on a daily basis.

Q. I was wondering if you could
send me your statements from your EA running on your live account from
January through the end of May? Tony said you showed him your one
from April and it was about 12% return. I want to analyze the
positions to see about the maximum drawdown for the multiple
positions. In looking at the demo statement available on your site,
the current trade had a 541 pip drawdown on 5/11/07. It will help me
to know how to size my account and properly set my expectations.


A.The demo statement is updated periodically and can be found here.
www.easyforexdata.com/detailedstatement.htm. This is the most up to date record we have, as the previous demo it was run on expired. I do also run it on my personal account, and do occasionally publish data from there, though details require filtering before i can send it out, so there is no automatic publishing mechanism.

Q. I have been looking at your EA on ebay trading the gbp/jpy, I must say it looks too good to be true having been burnt by EAs before on ebay. Is the forward statement on your live account ? would it work with a $500 acc via interbank ?

A. The forward statement is on a demo. I also run it on my live account. $500 is pushing it, you can run it but the risk of margin call is quite a lot higher. I normally recommend an account of $1000 minimum, which is the minimum level at which you can trade without having to override the default settings. In the future we will set up a live $1000 account and set it up to trade multiple pairs, to give a real-life indication of what would happen on a mini account.



Q. Did you use this on a real account? I do not see the currency US/EUR US/GBP US/CHF

A. The demo account is only trading GBPJPY. I do trade other pairs on my personal account (eurjpy , gbpjpy, gbpchf, usdchf, usdjpy - all high swap paying pairs). We may add more pairs to the demo trading account in the future.

Q. Are the results you published based on the money management to withstand 5000 pip drawdown on the g/j?

A. Yes, those are with the standard settings, there has been no optimisation, or curve fitting.

Q. Are you using this program and what is its accuracy when forward testing. As back testing can be curve fitted to yield incredible results. Finally can this be used to trade on all currency pairs or is it just optimised to work on certain currency pairs only

A. I totally agree with backtesting and curve fitting. we dont do it. i trade this on my own account and would only be fooling myself. the most up to date demo account is found here http://www.myfxtools.com/faq/FAQ_live_statement.html I use it for yen crosses, GBPCHF, USDCHF, basically high interest pairs with strong long term trends are best.

Click here to return to the main FAQ Section.

Forex trading involves substantial risk of loss and is not suitable for all investors.