Fapturbo Flash expert adviser determines direction of the trade by using  technical indicators. Then , it places two order with the same stop loss leve but different take profits level in the same direction (either both long orders or both short orders).  After the nearest TP is hit, the other trade’s stop loss level is  moved to break even price  to lock  into a no loss postion.

If market decides to move further in the trade intended direction, the order stop loss will be trailed to the market price. While if the market trend becomes exhausted, price will move back and hit the stop loss level which is at the breakeven price (resulting in a no loss trade).

Reviewed on : 17th September 2010
EA Type: Intraday Trading
Trade : Eur/Usd,  (1hr chart  )
Price: N/A ( Beta version only)

Backtest generated with Alpari Uk (click picture to view full back test results)

Initial Deposit: US $10,000
UseMM: 1.5% risk per trade
All default settings

Eur/Usd (1hr chart)

Jan 2008- September 2010

Jan- September  2010
ROI: 8.8%
Max Drawdown: 14.2%

Year 2009
ROI: 1.8%
Max Drawdown: 19.9%

Year 2008
ROI: 41.8%
Max Drawdown: 9.59%

Trade Analysis

Order Type: Market Order
Take Profit : 40/ 80 pip ( one trade with 40 pip TP, another trade with 80 pip TP)
Stop Loss: Dynamic stop loss (1.5% risk away)
Trading time:  intraday, no fixed time

Maximal Drawdown per year:  below 20%
Profitable Trades: 60%
ROI : Max Drawdown = 3 : 1  (ratio average of 2 years)

Money Management

Fapturbo Flash EA allows user to trade with a fixed lot or define risk per trade and system will calculate the lot sizing for every new trade.

Ease of Use

It includes a easy-to-understand setup manual. It explains EA installation, parameters.  You will be able to watch video on their members’ portal.

Parameter to Set:

UseMM – specify risk per trade in percentage

Fixed lot – Or trade with fixed lot

Take Profit
(In Pips) This input setting allows you to specify desired TakeProfit value for your trades.

Stop Loss
(In Pips) This input setting allows you to specify desired stop loss value for your trades.

Receipt Code
For validation purpose, to prevent software piracy.

Our forward test will use same settings and conditions that of our backtest settings.

Initial Deposit: US $10,000

Forward Test

It is your duty to first verify our backtest analysis with our forward test before trading live with your own money

Weakesses (if Any)

Although, this system on average has a 3: 1 ROI : Max drawdown, it does not mean that it will bring in profit year after year. Our back test result shows that on year 2009 and 2010, roi is between 0-10% per year. That means that system is just breaking even.

This system performed very well in the year 2008 which achieved a 41% ROI in that single year. Assuming that the developer is going to price this ea at $299, it will have substantial more reliable ROI : Max Drawdown and live results so that it can sell at this price tag.

Conclusion

• Provide user with money management
• ROI : Max Drawdown  has a good ratio with 3 : 1
• Easy to install and settings are fully explained
• Honest results, salespage results resembled our generated results.
• Good trading year  in 2008, moderate results in 2009 and 2010

Our backtest results showed the same as Fapturbo Flash backtest results on his website.  If our 3 months of forward tests show positive results like what the owners have described, another 1- 2 scores will be added to the system.

6/10

Regards,

Warren Seah

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It is observed from our backtest settings that not a single stop loss was hit by trades executed with Forex BulletProof EA from the period 2007-2010 . Trading with Usd/Jpy seems to show a very stable return on a per year basis but it trades very conservatively. Eur/Usd backtest results shows a higher return on a per year basis and trades with higher degree of risk. Fapturbo Steve advises that user trades with this two currency charts simultaneously.

Reviewed on : 8th September 2010
EA Type: GridTrading System
Trade : Eur/Usd, Usd/Jpy (1min chart  )
Price: $ 147( purchased through their affiliate link)
Payment Processed by Clickbank and comes with a 60 day Money back Guarantee Full Refund

Some facts about the trading system from the creators

The robot’s trading hours and days are carefully selected based on the time zone differences between the closing and opening times of stock exchanges in different parts of the world. That’s why the robot is always overall in profit no matter what the current situation on the market is.

Once the trading hours come, a trading cycle commences and progresses by doubling the lot every 10 pips of the downward price movement and closes as soon as >35% of the trades in it hit Take Profit or as soon as its overall balance reaches zero after midnight GMT (should the cycle remain open past midnight GMT). The cycle will not be progressing endlessly because of the marginal leverage limits, bringing the maximal number of trades to be opened in a row to six on a 1:500 marginal leverage account (the biggest available with online Forex brokers) before the market reverses to some extent (which it does after these hours, since a correction is imminent even in the event of a drastic market fall). Once a trade along the cycle’s way at any of its levels closes, the next level trade in the cycle is to be opened after 20 pips down instead of 10.

Moreover, the robot is capable of re-adjusting to the changing market conditions. Should the market suddenly become too volatile (and therefore, too risky to trade), the volatility filter will intervene and take the robot to an early exit. The bot also adjusts automatically to the conditions of a specific brokerage, being compatible with both the instant execution brokers and the market execution ones.

If a news release suddenly hits the market and a broker drastically increases its spread in response, Forex BulletProof recognizes it and automatically cuts the starting lot size for its trading cycles. Once the spread is back to normal, trading with the standard starting lot size resumes. This aspect prevents the robot from being unable to close the cycle of time because of the suddenly increased spread.

Note: The backtest period are carefully selected especially for Eur/Usd. This is because you will observe that forex bulletproof  hit margin call on certain dates during backtesting. The reason is because the volatility indicator in Forex BulletProof will not have work correctly due to the backtesting conditions. To be more specific, the bid-ask spread is constant throughout the backtest.

As a result, in-built volatility indicator will not close trades like it will do in normal live conditions. Hence, we will observe that some trades aren’t closed in backtest and account eventually hit margin call. Trades entered by the EA will close on the same day as described above by the Forex Bullet Proof creators.

Backtest generated with Alpari Uk

Initial Deposit: US $10,000
AdaptLots: True
All default settings

Backtest analysis of various currency pairs

Eur/Usd

September 2009 - May 2010
ROI: 81%
Max Drawdown: 55%

Jan 2008 - May 2009
ROI: 245%
Max Drawdown: 69%

Order Type: Market Order, Pending Order
Take Profit : 7 pip
Stop Loss: 500 pip
Trading time: 0600-1100hrs (Gmt )

Maximal Drawdown per year: 55-70% per year
Profitable Trades: 60-70%
Average Profitable Trades = Average Losing Trades
ROI : Max Drawdown = 2 : 1  (ratio average of 2 years)

For every 1 dollar drawdown experience, user is expecting a 2 dollar in return.

Slightly more aggressive than trading Usd/Jpy. Can be observed with the high maximal drawdown.

Usd/Jpy

2 year period from September 2008 to September 2010

ROI : 16% (2 year)

Jan 2009 – Jan 2010
ROI: 10%
Max Drawdown: 6%

Jan 2008 – Jan 2009
ROI : 10% per year
Max Drawdown: 15%

Order Type: Market Order, Pending Order
Take Profit : 7 pip
Stop Loss: 500 pip
Trading time: 1700-2000hrs (Gmt )

Maximal Drawdown per year: below 20%
Profitable Trades: 60-70%
Average Profitable Trades = Average Losing Trades
ROI : Max Drawdown = 1 : 1  (ratio average of 2 years)

Money Management

Forex Bullet Proof EA allows system user to trade with a fixed lot or use its’ own adaptivelot settings to scale up contract size when necessary.  According to the creators, the strategy will trade at a conservative lot sizing so that profits can be retained.

Ease of Use

It includes a easy-to-understand setup manual. It explains EA installation, parameters.  You will be able to watch video on their members’ portal.

Parameter to Set:

EURUSDLots – The base lot value for accounts with deposits above $4000 on the EURUSD currency pair.

USDJPYLots – The base lot value on the USDJPY currency pair.

EURUSDLiteLots – The base lot value for accounts with deposits between 450$ and 4000$. If AdaptLots is set to true, the current lot size will be increased by this value for every 450$ earned until the account balance reaches $4000.

AdaptLots – If set to True (default), the robot uses its built-in Money Management system, which will set the trading lot size according to your current deposit size. The Bullet Proof money management will add an additional base lot specified in the EURUSDLots and USDJPYLots field to the current lot size for every additional $4000 on the account balance. For EURUSD, when your account balance is lower than $4000, AdaptLots will use EURUSDLiteLots as the base lot value which will be increased by this value for every $450 until the account balance reaches $4000. If it is set to False, it will automatically revert to the fixed lot size specified in the EURUSDLots or EURUSDLiteLots field depending on account balance (or in the USDJPYLots field if the robot is attached to the USDJPY currency chart).

AutoGmtoffset: Enabled (Default)

Receipt Code

For validation purpose, to prevent software piracy.

Backtest comparison with forward test)

Our forward test will use same settings and conditions that of our backtest settings.

Initial Deposit: US $10,000

Forward Test

EURUSD M1

USDJPY M1

It is your duty to first verify our backtest analysis with our forward test before trading live with your own money

Weakesses (if Any)

Yet to find any.

Conclusion

• Some forms of money management although not easy for beginner but can be understood.
• ROI : Max Drawdown  has a good ratio with 2 : 1
• Easy to trade with system
• Honest results, salespage results resembled our generated results.
• Affordable price

Our backtest results showed the same as Forex BulletProof vendor’s backtest results.  And our observation from backtests showed that achieving a consistent 5% per month return is possible with this system. Trading system provides risk management options for the advanced users.

Using adaptive lot sizing is an interesting way to trade the forex market. We have not seen this strategy before. This trading system contains element of fundamentals and combined with an unique entry methods makes overall this system above most of the systems in the market.

If our 3 months of forward tests show positive results like what the owners have described, another 1- 2 scores will be added to the system.

7/10

Regards,

Warren Seah

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Reviewed on : 21th June 2010
EA Type: Intraday Trading System
Trade : Gbp/Jpy 1hr
Price:  NA( up-selled after purchased of Forex Maximizer EA )

Backtest generated with Alpari Uk: AdvancedMaximiserStrategyTester

Backtest Settings:

Initial Deposit: US $10,000
Lot size: 0.1  (2 mini lot )
All default settings.

Jan- June 2010

2009 – 2010

Total net profit: $6,037
Maximal drawdown: 8.14%

2008 – 2009

Total net profit: -$4,862
Maximal drawdown: 52.54%

2007 – 2008

Total net profit: $3,229
Maximal drawdown: 11.71%

2006 - 2007

Total net profit: -$1,933
Maximal drawdown: 30%

2005  – 2006

Total net profit: -$5765
Maximal drawdown: 59.63%

Backtest Analysis

Based on the results of the last 5 years, 3 out of 5 are losing years. And maximum drawdown experienced in the last 5 years is 59%.  This will mean that a trader will expect that a loss of half of his trading capital.

This judgement is worked out based on having the worst case scenario which the Forex Maximizer Advanced EA will deliver.

Trade Analysis

Forex Maximizer Advanced EA does not use fixed stop loss or fixed take profit level. Judging from the backtest results, stop loss may be placed from 70 – 415 pip away from the entry price. Stop loss is placed based on market dynamic (current volatitily) which reduces stop loss hit from market noise.

I presumed that the EA vendor uses ATR as the indicator to determine how far away the stop loss is placed (based on the input settings). Advanced EA trades almost every day from 1-3 trades per day

Average profit trade: $105
Average loss trade: -$109

The statistics above shows an average win/ loss which is about the same. That means we can expect to recover a loss from 1- 2 winning trades.

Risk : Reward

This ratio should be as close to 1 : 1 ratio due to the average profit/loss per trade.

Money Management

User is required to specify the contract size the EA enters a trade. Under the default settings, every trade will enter with a contract size of 0.1 lot (1 mini lot). Due to the nature of no-fixed- stop loss, it does not provide the user with the option of specifying maximum risk per trade.

Largest loss experienced in the last 5 years was $484 (484pip). And that will translate to a 4.8% maximum risk in any trade with contract size of 0.1 lot.

If you are the type of trader which limit to 2% risk in any trade, this system may not be suitable for you. Because trading at 1 mini lot would have a  4.8 % maximun risk. Either you can enter trades with micro lots or not trade at all.

No money management functionality.

Drawdown

Max drawdown : 59% (observed in the last 5 years)

risk : reward (1:1)

Profitable Trades: 40-55%

Very high drawdown and 3 losing years in the last 5 years.

Ease of Use

Manual explains all. EA input settings are designed with the end user in mind. No complex parameters and all parameters are self explanatory.

Input Settings

Breakout Spacing (in pip)
This strategy looks for certain price levels, and when they are reached, it reacts with entering a trade. You are able to control whether the entry will be immediate or after a certain number of pips.

ATR Period
Look back period for the ATR indicator(no of candles)

Use BreakevenSL
Uses the breakeven stop by shifting initial stop loss to entry price after a certain amount of pip is reached in favor of the trader.

BE_After
Specify to execute breakeven stop after a certain amount of pip is reached.

Lot Size
Allow the user to specify the number of contracts for each trade. contract size is fixed.

StartingHour,Ending Hour
Allow the user to specify the time where the system trades. Default is 00:00 to 23:59

Forward Test Results

Settings
Initial Deposit: US $10,000
Lot size: 0.1 (1 mini lot )
All default settings

It is your duty to first verify our backtest analysis with our forward test before trading live.

Support

Not tested

Weakness (if any)

Trade a fixed lot size and no money management.  And this will results that contract size will not scale up after winning trades (loss of potential profits) and not scale down after losing trades (taking on too  much more percentage risk per trade).

Conclusion

Performance in the last five years showed poor results.  Rating may improved if the forward test result out-performs the backtest results. Not having money management feature is a huge disadvantage of using this system. Having 59% maximal drawdown and 3 out of 5 losing years, you are advised to research this system very thoroughly before trading it on a live account.

4/10

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Reviewed on : 17th May 2010
EA Type: Intraday Trading System
Trade : Gbp/Usd 1hr  
Price:  US $97 ( 60 day money-back guarantee)

Backtest generated with Alpari Uk: ForexMaximiserStrategyTester

Backtest Settings:

Initial Deposit: US $10,000
Lot size: 0.2  (2 mini lot )
Start time: 0000 (default)
End time: 23 59 (default)

2010 Jan – May

Total net profit: 3287.78
Maximal drawdown: 4.83%

2009 – 2010

Total net profit: 5321.96
Maximal drawdown: 19.47%

Backtest Analysis

Equity curve from 2009- 2010 looks fantastic. It heads only in one direction – it is up! However, results before 2009 was a different story. We are awaiting reply from the vendor because we were concerned about the poor performance before 2009 and on the other hand, results from 2009 onwards were wonderful.

Trade Analysis

No fixed stop loss or take profit level are observed in the backtest. Using 0.2 lot size, the maximum risk per trade in 2009-2010 is 3.2% risk per trade. The observed risk per trade ranges from 0.7% – 3.2%.  Forex Maximizer EA trades almost every day from 1-3 trades per day.

Trade a fixed lot size with no money management.

Average profit trade:168.12
loss trade: -182.02

The statistics above shows an average win/ loss which is about the same. That means we can expect to recover a loss from 1- 2 winning trades.

Risk : Reward

This ratio should be as close to 1 : 1 ratio due to the average profit/loss per trade.

Money Management

It does not have money management.  System user is required to enter the lot size he wanted to trade with. This parameter provide little or no idea of how much is the risk taken in any given trade.

It is only by generating backtest, which we can determine a range of risk we will be undertaking trading with 1 mini lot.  From our backtest, trading 0.1 lot size will risk 1.5%  maximal risk per trade. While trading 0.2 lot size  will risk 3.2% maximal risk per trade. We are unlikely to increase the lot size due to the high risk and high drawdown we may face.

System user must understand how much risk he is undertaking while trading any automated system.

Drawdown

Trading with 0.2 lot size, Forex Maximizer user may face 20% maximal drawdown in any given year. However, the reward is up to 50% return on investment. It is in our opinion that risking 20% drawdown for 50% ROI something worth pursuing about.

Ease of Use

User manual is very clear and simple. EA parameter is written in the mind of the system user because there are few parameters to confuse the user.

Parameter to Set:

Lot Size
Choose the preferred lot size

Control Trading Time (only for advanced user)
Starting Hour : 00:00
Ending Hour: 23:59

Forward Test Results

Settings
Initial Deposit: US $10,000
Lot size: 0.2  (2 mini lot )
Start time: 0000 (default)
End time: 23 59 (default)

It is your duty to first verify our backtest analysis with our forward test before trading live. 

Support

Testing now, contacting support.

Weakness (if any)

Trade a fixed lot size and no money management. Forex Maximizer EA performance may be  optimised for current conditions only.

Conclusion

Reasonable drawdown with good ROI is what most people are looking for in the forex market. However, performance before 2009 showed poor results. Forex Maximizer EA performance may be  optimised for current conditions only. Will current conditions change, we have no idea how will the EA perform under a set of change conditions.

6/10

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Reviewed on : 13th May 2010
EA Type: Intraday Trading System
Trade : Eur/Chf 30M
Price: FREE

On the vendor’s website, it claimed that Forex JackBot EA generated 2100% return (2009-2010) with a 27% maximal drawdown. An important information was revealed when Jack wrote in the user manual that EA settings were optimised from 2009 onwards. It will be meaningless to perform backtest before 2009. Let’s review!

Backtest generated with Alpari Uk : ForexJackBotStrategyTester

Backtest Settings:

Trade : Eur/Chf 30M
Initial Deposit: US $10,000
My.Risk: 5 ( 3.6% risk per trade)
Breakout Sensitivity: 12 (default)
Take Profit: 45 pip
Stop loss: 80 pip

Jan 2010- May 2010
Total net profit:  2210.04
Maximal drawdown: 14.79%

2009-2010
Total net profit:  5062.62
Maximal drawdown: 19.59%

Backtest Analysis

Backtest results look good. We will be forward testing this EA. However, return on investment and maximal drawdown seem to deviate from those stated on the sales page. Receiving 2100% return with only 27% maximal drawdown doesn’t look realistic on our generated backtest.Even if it can be achieved, the user may be bearing too much risk to achieve 2100% return at the expense of wiping out his entire account.

Frequency of trade
1-3 trades per day (may not trade everyday)

Maximal Drawdown: 20%

Setting My.Risk= 5, will expect a 20% maximal drawdown. If you decided to increase My.Risk (risk per trade), be prepared to withstand high drawdowns as we discovered a 20 My.Risk will get 60% maximal drawdown! (which can be a substantial loss)

Risk : Reward Ratio

1: 0.5

This means a losing trade will need 2 winning trades to recover the loss.

Money Management

It was provided in the My.Risk parameter. Managing risk per trade can be tricky because it is ambiguous. Using 20 , will mean risking 13% in any single trade. It has be difficult to find out the actual risk unless you view backtests results and calculate yourself. If you are unsure, be aware entering a 20 will not mean you are risking 20% of your account equity.

Lot size will only be adjusted up.
Lot size will not be reduce after a losing trade. It will remain until equity increase by a certain percentage before lot size is increased again.

Ease of Use

It includes a setup manual. It explains EA installation and parameters. Explanation of parameters can be confusing and is not explained clearly. Some info were hard to understand.

Parameter to Set:

My.Risk : controls the trading volume (number of lots). For example, a setting of 20 will open 2 mini lots on a $1,000 account.

Breakout.Sensitivity: will determine if the JackBot will jump the gun quickly (low values) or be very patient (values higher than 20 ) before it enters a breakout opportunity. This setting is open to your experimentation. (default value is 12)

Optimisation is also explained in the manual as author encourages user to test strategy

- with different currency pairs
- with different breakout.sensitivity
- with different timeframes

Honest Result (Backtest comparison with forward test)

It is your duty to first verify our backtest and forward test analysis before trading live.

Weakesses (if Any)

Backtest results deviates from what the vendor has claimed. 2100% returns with only 27% maximal drawdown weren’t achieveable in our backtest. (if you can prove we made a mistake, we would like to change our views on this EA). Nevertheless, performance is not bad either.

EA performance before 2009 wasn’t made known to the public. There maybe a possibility that EA is only optimised for backtesting purposes only (ie from 2009 onwards). It was claimed by Jack that settings were changed due to a change in current trading condition. Thus, we must verify that Forex JackBot will trade like it used to trade from 2009-2010.

Having just 18 months of EA performance is not adequate to provide any conclusive evidence of EA performance in the long term. Forex Jackbot will be placed on forward tests. And trading live using Forex JackBot is not recommended at the moment.

Money management is not easily understand by beginners and backtest has to be carried out to determine the actual risk in any trade.

Conclusion

5/10

More forward test must be carried out before we arrived at any conclusion. Forex Jackbot’s performance looks interesting from 2009 to 2010, but settings were only optimised from 2009 onwards. That means performance of EA before 2009 cannot be determined and hence unknown to the user. The state of ambiguity does not allow us to trade live at the moment.

Regards,

Warren Seah

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