Thread: Forex Boomerang

Forex Boomerang Official Website

Could anyone share their experience with Forex Boomerang? I am thinking about purchasing it, but I wanted to know a little more about it first.

Thanks,

Nicky

Yeah i bought it because it was on special, got it on sale. It seems quite consistant with its profits, there are losses of course but so far its seems to give me more wins than losses.

I am pretty much averaging about 50% profit every 3 months but that is using different settings and time frame to what they reccomend, it is not an expensive EA like some out there and if it does not work out for you then you have not lost that much.

I am pretty much trading it using microlots of 0.02 on the EURUSD with a time frame of 5 mins for small account balance of $200 and will increase my lots to 0.02 when or if it increases to $400 and 0.03 at $600 and so on.

My account has grown from $200 to $300 in a few months, the question i have will it continue only time will tell, but so far at least the EA seems quite consistant overall.

Hi Wannaberich!

Why did you decide to use different settings than the recommended? Is your more conservative vs. there's which is more agressive?

Thanks for the feedback as it is greatly appreciated! :-)

Hi

Yes you are right, basically i backtested the EA on every pair possible including time frames just to see which settings would be best to use for a trader like me who is very conservative and only likes to risk small amouts.

I just found that the 5 min chart gave me the highest returns. If i use there defult settings my account will increase a lot more however if something that i am not expecting suddenly happens then i could have my account wiped out.

So i just keep the lots really low started with a account balance on a live account of $200 keeping the lots sizes at 0.01 allows my account to grow slowly with a lot less risk so far its up to a little over $300, as the account grows if it does then i will increase the lots manually.

I am basically trading
$200 with 0.01
$400 with 0.02
$600 with 0.03
$800 with 0.04
$1000 with 0.05 and so on.

So yeah i use different settings than the recommended because i am very very conservative and don't really have a large account to trade with so need to adjust the EA in accordance with my risks. If you are an agressive trader then use there dufults.

But basically the EA is ok for what i want, i like the fact that it had a take profit and stop loss in place so you allways know your risk and reward on every trade, but at least it makes a lot more winners than losers for the account to grow.

Thanks for the helpful information Wannaberich! GL! :-)

Oh yeah, how many pairs are u currently trading on?

How many do they recommend??

Just the EURUSD that is the only pair they reccomend, however they say use it on the 1 hour chart, i prefer the 5 min as i have found that seems to give me the best returns

Thanks again for your input (please feel free to share any other tidbits)! :-)

If anyone else has experience with this EA, please chime in.

Thanks,

Nicky

I see the price of this EA is only $97... like most others.
I would like to hear experience of others as well

Wayne

Using the 5 min charts i have had two trades since yesterday using 0.01 lots for two winners, first winner was $12.12 and second winner was for $15.27 that last trade should have been more because i was trading that with 0.02 lots but decided to close it out manaually before the take profit was reached which it was