Bogie-NN-v8 Performance Update 8-7-08

Hello,

This has been a disappointing week for the Bogie-NN-v8 Expert Advisor. Last week at this time I had closed a 10% return after only 2 weeks of trading. At this moment my account balance is -3.6%. So what happened???

July 31st through August 5th the market was basically sideways. Big pip gains were not easy to come by with the EURUSD trading in such a tight range. On August 5th the trend became strongly bearish and we saw the price drop over 350 pips since August 4th. I experienced three big losses, all on long positions. Immediately people on the discussion forums were proclaiming that this EA can't handle a downtrend. After studying the charts since the inception of this EA (June 1), the entire month of July was basically a downtrend and the EA still posted a 27% return according to the Bogie Blog site. This would dismiss the idea that it simply can't handle a bear market. So I asked this question directly to the developer. Here is William Boatright's response:

"We are also seeing these results. Not sure if just short term. Subscribers may want to only run a Demo right now or reduce input Risk=1 (1%) until we see what is happening. Also, it is difficult for EA to trade in this current lateral choppy market. End of July through August is not good trading time as many US and European large institutional traders are on vacation. The success of this EA has been to take advantage on wins and try to minimize loses. But losses will happen."

I have not completely given up on this EA. If you take a look at CK's demo results you'll see that his account is still boasting a 79.5% return since 5/29/08. That is still a spectacular return.

I hope that Boatright can make the adjustments (if neccessary) to right whatever is wrong. If you got a chance to listen to his interview you know that he is constantly optimizing his EA's and subscribers will have access to the most current version each month. As for now I have my live EA set to only take short positions. I will do this until I see that the demo accounts are performing correctly.

Thanks for reading and please feel free to share your comments on this EA. Don't forget, if you do decide to purchase this EA please click on the Bogie logo to the right of this post to take advantage of the special 20% discount.
Craig