Last week I introduced the Bogie-NN-v8 Expert Advisor by William Boatright. I set the EA to work on my $3,600 live-money IBFX account on 7/16, exactly one week ago. Thus far I have been extremely impressed! Please read on...
This EA calculates lot sizes by your custom risk setting. On a standard account a risk setting of 5 equates to a 10% maximal drawdown (excluding swap) per trade. My first trade was set to a risk setting of 5 which resulted in a lot size of 0.18 mini lots. I then realized that I needed to set the risk to 50 due to the fact I was trading with a mini account. And by the way, the 10% max DD is always equal to a 200 pip S/L; therefore, if you set your max risk lower than you lot size will decrease to the point where your max risk is equal to 200 pips.
My first trade resulted in a 67 pip loss (only $12.06 due to my wrong risk setting). Second trade was a 12 pip profit, third trade a 73 pip profit, and the current open trade a 202 pip profit! A total net win of 220 pips over one week (including the open order). I realize this may be premature because the open order has yet to close but dollar-wise that equates to a 14.6% one-week return!
This is the first system I tested that uses some form of intelligent entry and exit. For example the Forex Autopilot limits profitable trades to X and losing trades are unlimited. Exit points simply depend on hitting a S/L or T/P. The Bogie-NN-v8 is constantly re-evaluating open trades and is willing to close a profit at 10 or 1000 pips depending upon internal indicators. The same goes for losing trades. My one loser was for 67 pips despite the maximal S/L of 200.
It's too early tell if this EA is the real deal but thus far I am feeling great about it. I have yet to pick out a deficiency. My one-week trade history is posted below. I will update my results next week.
A reminder that the Bogie-NN-v8 is being offered at a 20% discount only through this special link. By the way, my open trade is now up over $400 as I typed this - that's over an 11% return on my initial deposit!
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6 comments:
Wow! Craig so far so good as always I enjoy your blog. I will continue to keep my eyes opened.
Thanks! I was interested to see if the EA would let any of the profit slip away before closing the open position...well, it didn't. Closed the position at a 249 pip profit and immediately opened a long position. Since then the EURUSD seems to be trading in a very tight range. It may be ready to trend upward, which would result in another nice profit. Keeping my fingers crossed that this performance continues.
Hello Craig,
Nice to hear about your sweet profit of 249 pips. I went ahead and leased this EA from the discounted link you provided. I will like to test along with everyone. It you haven't heard the interview Mr. Boatwright provided to another affiliate owner,on July 19, 2008, here's the link http://asktheeaexperts.com/archives/
Thanks! I'm going to check out that interview when I get a minute.
Hi Craig,
Can you tell me in detail how's you set up in Input tab if using mini account& your risk setting? UseMM=false, Risk=50, Lots=0 is it right? Thanks, and I'm still trial a demo
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