Euro-Blaster

**Neo-Rio** · 05-28-2009 05:24

Actually, I've gone off using it now. Some forward testing and a nasty loss on my live account (which my equity manager caught and saved me from suffering further losses), plus a handful of reviews on other websites have shown me that Euro-blaster is NOT an all-round performer. It's only been backtested on 2008, which is only a single year backtest. If you were lucky enought to trade this bot from Jan 2008, you would be loaded by now, but we know that it's not going to happen every year!

A one-year optimized backtest does not mean that the logic of this bot will work as advertised this year!

According to another review, the best thing to do is set up Euroblaster on a $1000 account and let it run agressive for a year. As soon as it clears $1000 profit, withdraw your winnigns, so then you are trading for free, and let it keep on trading. Take whatever winnings you can at the end of the year (if there are any, if it hasn't blown it up) and then run it again on $1000 the next year. One year just like 2008 may show up again and then you'll hit the jackpot - in which case, it'll all have been worth it!

**huios** · 05-28-2009 06:04

I'm using it on one of my live accounts too Neo, I share the same view as you. The Backtest from 1999 to end of 2007 didn't perform very well. Even with the lowest risk settings available, it still doesn't make a profit till 2008. Thereafter if you were to use like 50% Risk with aggressive settings, yes it can make you like 2 billion in 1 year. But that's only in the year 2008. In the backtest from 2009 onwards, there's 1-2 major losses.

Probably this EA needs some optimization to make it better. But like what Neo said, if you want to try this out on live, let it run on low deposits with highly aggressive settings, so that even if you do eventually blow that account up, it's still an amount which you can part with.

**Neo-Rio** · 05-28-2009 08:51

Nice to know that someone else feels the same way.

Actually, now that I remember it - this bot ended up hedging itself.　It said it wouldn't on the webpage but it ended up doing so inadvertedly.
I had 4 buy positions running, 2 were closed out by equity manager, and then on the way south, it opened up a sell trade while it still had two other trades still going!

Seriously, a 1-2 year backtest isn't enough. A steady 10 year backtest with a relatively smooth curve, PLUS some positive forward testing, is the only thing that will tempt me to drop more money on another EA again!

Like you said, it should run on it's own small account which it can be left to blow up. I honestly cannot stomach the drawdowns on this EA either. I want a bot that finds breakouts and rides them into profit, locks the door behind them so we have a no risk trade as soon as possible, and cuts out a failing trade after losing a tolerate amount of pips.

**zoegirl123** · 06-08-2009 12:24

I Just Bought This A Few Days Ago,
Thoughroly Checking It Out On A Lot Of Review Sites,
Its Makes A Lot Of Little Trades At Different Strikes.

So Far So Good,
12 From 12, It Seems To Be Accurate,
Like Megadroid Which I Also Own,
Which Is A Good EA, 25 Wins No Losses As Yet Also.
We'll Monitor It Before Going Live.

**Neo-Rio** · 06-08-2009 12:56

It's really good, but not perfect. Assuming the market holds together as it did for the first half of this year and all of 2008, you'll be a millionaire in 8 months - but... if you look through the back history of this bot, you'll notice that if it makes a single mistake and ever hits that massive stop loss it will wipe your account out.

Still, I think it's a good bot. Why? Because if you invest $1000, you'll get that money back within a week or two... which is a small window of risk because Euro Blaster makes money fast. After that, and you've taken your break even money out, let 'er rip and good luck. By this point you've entered a free lottery for a million dollars that you actually have a chance of winning... and even if you don't and wipe out you'll probably still profit a bit.

Just get a good broker. FXDD hates bots live. They can encourage people to run EAs on their platform as much as they want, but what they say and how their live platform is seemingly rigged against scalping makes for a lot of distrust. Their demo makes trades and has lower spreads while their live platform is almost deliberately slow and spreads are as wide as hell. I've compared them side by side.

Demo trades and live trades can be very different.

**zoegirl123** · 06-08-2009 13:20

Hi Neo,
Thanks For The Reply.
I Am An Aussie, I Will Not Be Using A US Broker.
I Will Be Using Go Markets In Melbourne,
They Have ECN Type Structure & Are 2 Pips On The EUR/USD,
They Have A Pretty Good Name Over Here.
They Don't Mind About Ea's But I'm Not Telling Them.

**Neo-Rio** · 06-09-2009 01:44

Actually, I might check out Gomarkets myself.

I'm thinking of just going aggressive with $1000, ignoring MM and placing 0.1 lots and risking 15% until I break even (which should happen incredibly quickly at those settings). Then after withdrawing my initial investment, enable MM and just let her rip. Will probably use profit protection after that should the account start getting massive.

I don't mind bumping up the risk percentage, and that's because this bot rarely loses, but should it lose, it will wipe the account. If that's going to happen anyway, I'll be letting this one burn-baby-burn and hit my profit target as soon as possible before the account "apocalypse".

Euroblaster v2 added a Breakeven option, but in backtesting it's largely useless and cut out your potential profits. A wipeout is still a wipeout.

**wannaberich** · 06-09-2009 01:50

Yes i live in Melbourne Australia and have used Gomarkets for quite a while now, they are located in the next suburb to me and they are by far the best broker that i have used.

They allow hedging, you can use any robot you like and they dont care if you make or lose money, they make there money on the spreads only, so if you have a profitable EA then you are safe to use it with gomarkets.

**andrewte** · 06-14-2009 07:48

MT4 Stats - Share your MetaTrader 4 Statements with the world

Quite impressive I should say, but not sure which preset he used.

Andy

**MechXTrader** · 06-14-2009 16:24

Thanks for the review. Though I can hardly trust a review from an affiliate.

Thread: Euro-Blaster

Thread Tools

Display

Euroblaster

Similar Threads

Euro Market Meltdown

MTAW Blaster EA

Euro-Blaster EURUSD

Euro EA

Posting Permissions