Forex Crescendo In Action

Greetings fellow traders. As I promised in my previous post regarding the Forex Crescendo EA I am here to give you more details about this newly launched forex robot.

First off let’s start with a screenshot showing this EA in action:

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As you can probably already tell, Forex Crescendo trades two currency pairs: GBP/USD, and GBP/JPY. Is this good or bad? It’s neither really! It doesn’t matter much what currency pairs it trades. I was expecting another EUR/USD EA but it’s refreshing to see a commercial EA tackle a more “exotic” currency pair such as GBP/JPY. Personally I think GBP/JPY isn’t so easy to trade as say EUR/USD, so if the Forex Crescendo EA can squeeze many pips from this pair then in my book it deserves praise.

Both of these currency pairs are fast movers with price swings much higher than EUR/USD so I think this can either work to Forex Crescendo’s advantage or demise – hopefully advantage! Also spread is a bit higher on these currency pairs so make sure you find a broker with the absolute lowest spread possible. I’m testing this EA on an Alpari UK account, but I’m sure other brokers will work ok too.

I’d say that Forex Crescendo is a frequent trader. Even though it may be a little bit too early to jump to any conclusions, it does seem to me that the number of trades it placed can be labeled as “frequent” – I mean it’s not like it trades only say once per day or something like that.

Here are the trades it took thus far:

141796556 2010.09.21 11:28 balance Deposit 10 000.00
143878274 2010.09.29 00:00 buy 0.01 gbpusd 1.58052 0.00000 0.00000 2010.09.29 07:32 1.58454 0.00 0.00 0.00 4.02
144050664 2010.09.29 12:00 buy 0.50 gbpusd 1.58063 0.00000 0.00000 2010.09.29 12:00 1.58073 0.00 0.00 0.00 5.00
144050888 2010.09.29 12:00 buy 0.50 gbpusd 1.58080 0.00000 0.00000 2010.09.29 12:01 1.58088 0.00 0.00 0.00 4.00
144051956 2010.09.29 12:01 buy 0.50 gbpusd 1.58094 0.00000 0.00000 2010.09.29 12:01 1.58108 0.00 0.00 0.00 7.00
144052034 2010.09.29 12:01 buy 0.50 gbpusd 1.58131 0.00000 0.00000 2010.09.29 12:03 1.58143 0.00 0.00 0.00 6.00
144052998 2010.09.29 12:03 buy 0.50 gbpusd 1.58153 0.00000 0.00000 2010.09.29 12:03 1.58164 0.00 0.00 0.00 5.50
0.00 0.00 0.00 31.52
Closed P/L: 31.52

The reason for the low lot size at the beginning is because I made the mistake of leaving the manual lot size to its default setting – 0.01 lots. After I set the EA to risk a certain percentage of my account balance (5% per currency pair) it started trading using a much bigger lot size.

I’ll continue testing it and report my findings.

If you too bought this EA and wish to share your opinions and/or results with other traders I recommend you join me at the Forex Robots Forum – specifically at this forum thread:

http://www.forexrobotsforum.com/showthread.php?t=63

To grab your own copy you can of course just hop on over to the Forex Crescendo homepage.

Happy EA testing everyone!

Cheers,
Alan