Forex Maximizer Review

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Forex Maximizer EA is an intraday trading strategy. It trades almost every day from 1- 3 trades per day. Intraday trading system will be a nice addition to a EA portfolio. 

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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