Hello there. Well, I guess my adventure with Forex Crescendo on a live FXDD account was short lived. I announced in a previous post that I will be testing this EA on a live FXDD account only a week and a half ago, but this time was enough to realize that this EA is just not right for my FXDD account. First problem is the high spread on gbp/usd and gbp/jpy. The second problem si the nature of the EA itself. From what I heard Forex Crescendo is a grid trading EA and in my experience I found that with grid trading EAs timing is very important. Sometimes a grid trading EA gets “in the zone” and somehow catches the wave of the market simply on pure timing and performs successfully. However if you stop the EA and reload it I don’t know why but it seems to get left behind. It’s like it lost the flow of the market somehow. It’s hard for me to explain and this may seem like I’m talking out of my ass, but this is just what I’ve observed subjectively.
Another problem that I think Forex Crescendo has is the trend detection indicator lags. It just isn’t sensitive enough. Also the fact that by default the EA has no stop loss (you can enable it though but I heard that hampers performance) and you have to ride out the “bad trades” and hope that somehow they turn around. I’m sorry but this style of trading is just not for me. I do not feel like holding on to a losing position 10 to 20 times the size of the take profit ($4) for x number of days to get $4 dollars out of it.
Forex Crescendo took a few large hits on both live and demo accounts. For actual trade data you can checkout the myfxbook page I’ve setup for it (Alpari UK is the broker I’d using for the demo);
As you can see I’m down 24%. I’ll leave the demo account open cause I’m curious to see how long it will take for the EA to recover – if at all. But as for live account testing I won’t bother. In case anyone is wondering I’m using the recommended settings laid out by the EA’s creator.
I’m just wondering if anyone is having success with this EA. If so could you please share your experience and settings on the following forum thread:
Let me know what you think of Forex Crescendo.
Like I said I’ll still continue to demo test this EA, so stay tuned for future performance updates. Alternatively you can subscribe to the forum thread I mentioned above.