Hi everyone. I hope the market is treating you well this morning. I’m here with a much needed post regarding the performance of the Forex Crescendo EA that I’ve been testing for the past two weeks. It seems my testing account got its but kicked. I’ve had two rather nasty loses on the GBP/JPY pair which brought my account badly below the original starting balance ($10,000). Here are the two trades in their glorious failure:
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Here are the details regarding the two GBP/JPY positions:
153352112 2010.10.29 12:00 sell 0.50 gbpjpy 128.428 0.000 0.000 2010.11.03 14:51 131.055 0.00 0.00 -4.65 -1 614.27
153871522 2010.11.01 12:00 sell 0.50 gbpjpy 129.139 0.000 0.000 2010.11.03 14:51 131.055 0.00 0.00 -3.16 -1 177.36
Thus my account balance is sitting at: $7 586.26
Does this mean Forex Crescendo is no good and I should dump it? Not necessarily. I’m going to give it a chance to recover – maybe two more weeks is all it needs. I guess the best strategy before I jump to any conclusions is to wait and see how it performs for the long term. But there is no denying that it started out strong, but this recent loss is a big setback.
Also in case you are wondering, I’m using version 1.2 of the Crescendo EA – the latest one. Just thought I’d let you know before someone jumps in and says that the loss was due to me carelessly using an “out-of-date” version of the EA.
I’m wondering has anyone else had the same losses as me? Please share your experience, ideas, suggestions if you’d like. I’d recommend you make a post on the Forex Robots Forum thread dedicated to this EA. Here is the link:
I’ll keep you all posted either here or on that forum thread as to how my testing progresses. Wish me luck!