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Thread: FX Equity Builder

  1. #1
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    Default FX Equity Builder

    fellow roboteers,

    I recently downloaded a product called FX Equity Builder and did some forward testing. The trading results were lively and excellent on EURCHF.

    The algorithm appears to be a martingale style grid trader based around stochastic and 200 MA signals. However, it has no equity protection when price breaks out.

    Although the site blurb claimed remarkable results since the beginning of 2009 I found it failed backtesting from early 2008 by stopping out!

    Also I found the inbuilt equity protection to be hopeless.

    The backtests were punctuated by OrderSend error 4107, which is usually caused by incorrect price formatting in the mt4 order send function (eg trying to send a 5 digit price to a 4 digit broker).

    I contacted FXEB and they responded by referring me to Trading System Forex - Powered by vBulletin claiming that fundoo said it is a broker problem.

    Has anyone else had experience with this product?
    Is this product a pinch of a freebee, for instance?

    david.

  2. #2
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    Hi David
    I myself am testing this product and it works fine in dem and live environments, I do not have any problems with ordersend errors. Maybe it is a derivative of a public EA such as ILAN, I don't know as I cannot decompile to study the code.

    Generally this product will work and only work in market cirumstances like today. EURCHF is trading in a range between 1.5200 (can go up to 1.5400) and 1.5000. At the top, the strength of CHF makes sure that this range is not left (at the moment). At the bottom, Swiss National Bank has commited not letting CHF be overvalued, so they start interventions around 1.5000, last wednesday was an example for that. And besides that, EURCHF is moving up and down. As long as this tight correlation exists, this strategy (and others) will work. But if you decide to use this EA, you have to watch EURCHF carefully as I do , since I trade several EAs on this pair. You have to know when to pull the plug. Also you shouldn't leave the EA alone for a long time. Even the vendor recommends the manual cosing of open trades when strong support /resistance lines are broken on the daily chart.

    Hope this helps.
    Rolf

  3. #3
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    i used this EA ..have the same problem , EA doesn t pass the test on january or when strong volatility occured ..Not a scam but no work either as it can experienced very big DD

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    has anybody used this on a live account?? im tired of all these gay ass EA's being tested on demo accounts with like 40% monthly gains only to fail in live accounts.

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    Quote Originally Posted by gselsidi View Post
    has anybody used this on a live account?? im tired of all these gay ass EA's being tested on demo accounts with like 40% monthly gains only to fail in live accounts.
    yes, i do. performs pretty well, but you have to watch at least daily to check for major support/resistance breaks

  6. #6
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    Quote Originally Posted by Rolf View Post
    yes, i do. performs pretty well, but you have to watch at least daily to check for major support/resistance breaks
    Hey im trading this on the eur/chf pair only how can i figure out support and resistence levels? is that the green and red lines on the chart the the ea makes?

    its kind of hard figuring out support,resistance on a 5m chart, any help would be appreciated.

    Also the equity protection feature, if i use that and say i set it to 20%, does that mean if i lose 20% of my equity it will close out all trades?

    i have been running it on a demo account, i just jacked up the settings though from .01 lots to .1lot and its made 33% in around a full 24hr trading day!!!

    also are you located in the US, if you are which broker are you using, since i cant use alpari uk

  7. #7
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    for support/resistance you have to study the chart; you see these lines suddenly on higher timeframes. These are the price levels, where prices revert. for example 1.5000 for eurchf, that is the level where swiss national bank currently intervenes to ensure that CHF is not getting too strong.

    Broker: You have to test which brokers are best. Spread maybe an issue, multiple trades (same direction) should be placed.

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    yo did you get some horrible trades today? i got 8 losers, it hit my equity protection of 50%

  9. #9
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    Quote Originally Posted by gselsidi View Post
    yo did you get some horrible trades today? i got 8 losers, it hit my equity protection of 50%
    no. I always waited until tp was hit, once it was a week. usually it is less than 1 day. Maybe it is the broker. I use Alpari, and for other EAs FxPro. I noticed that for some EAs (like Accura) Alpari works much better than FxPro.

  10. #10
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    Quote Originally Posted by gselsidi View Post
    yo did you get some horrible trades today? i got 8 losers, it hit my equity protection of 50%
    sorry, I just see that you meant today. Today I have 8 open trades but these are still open. I think your account is too small or you overtrade. I have a acct with 2500 CHF and I trade from 0.01 to 0.27 lots. The max DD I had was 400 CHF.

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