Greetings fellow traders. Roughly 3 weeks ago I decided to look into this supposed hot shot EA called “Bogie-NN-v8b” and see what the fuss is all about. I got the demo version off the Bogie Enterprises website and threw into a ODL Securities demo account on the EUR/USD H1 chart. The EA was set to expire at the end of this month (Aug 08) so sadly I did not get a chance to test it for extended periods of time, but it was enough to get a VERY basic “feel” for how this EA trades.
Initially when I activated it this EA caught some major moves in the EUR/USD pair to near pinpoint accuracy. At that point I was really impressed. I remember seeing it nail the beginning of a big short in the EUR. Later on though it really got hit by the ranging market just before the EURO recovered a bit relative to the USD. The author of the EA did e-mail all users with new buy & sell settings, but unfortunately it came a bit too late for my account as my ODL demo account expired. It was silly of me to have placed it on ODL, but *sigh* I I’ll learn from my mistake.
So without further ado, let me present you with my demo account performance statement:
Click on the above PDF icon to download my own demo detailed statement.
If you’re looking for backtesting results checkout the statement below:
Now if you look at my own statement you will notice that just before my ODL demo account expired, this EA was holding on to a very big winning position opened at 1.4700. By the time Friday’s market close came around eur/usd dipped to 1.4773, so that position would have shrunk to roughly $700 – still a winning trade though. Its fate however will be determined by Sunday’s open. I believe that the EA will most likely close the trade without incurring a loss. In the past it has been excellent at “sensing” the shift in trend. Also keep in mind that as of two days ago the EA is supposed to work with new “tuned” settings so it is most likely possible that this is when the profitable trades will start rolling in.
Even if the trade doesn’t reverse and go back in the 1.48xx teritory, or even if it closes with a small profit, my demo account will still be in the minus. So overall this EA’s performance has been “jerky” so far. I must underscore the fact that I haven’t tested it for extended periods of time, so my results should not be taken as “the final” word as to this EA’s performance. If I would be able to demo it for say 6 months or so then I can tell you for sure if it is profitable or not. Unfortunately it is a paid EA and the author understandably cannot offer such an extended demo period.
The downside of not being able to demo an EA extensively is that it very often leads people to get all excited when the EA is making profit for them, and then they go out and put it on a live account, only to get hit later by a series of loses (which eventually will come).
Oh, lest I forget, here is a screenshot of the EA in action. You can see the $3000 floating position:
As I said, this is a commercial EA, so you’re gonna have to shell over $49.50 per month to lease this EA. I think this is a reasonable price to ask, especially when you consider that with enough leverage even one winning trade can pay your subscription fees for a year, and possibly longer. Personally I decided to subscribe just a few days before my demo account expired and I have no doubt that if things go well only a few winning trades will be enough to pay my monthly subscription.
Seeing as how my blog is fairly popular I managed to convince the Bogie Enterprise folks to give my blog readers a discount. We agreed upon a 20% discount, so if you use the link below you’ll pay $39.60 (regular price $49.50). This can not be retroactive, only new orders. Also this discount applies to ALL their EAs (yes they have several.) There is even one that has won the Automated Trading Championship for 2007 (ATC 2007) !
To take advantage of the 20% discount use the following link:
If you want to demo this EA for a while you can do so until October 1, 2008 by clicking here to get the Bogie-NN-v8b free demo installer.
For other details visit the Bogie Enterprises homepage.
If you wish to discuss this EA and share your performance results with us fellow forex traders, feel free to visit the Forex Nirvana forum:
See you in the forum. Best of luck to you all and happy trading!