Matt’s FOREX Expert Advisor Blog

For what it’s worth, I’ve decided to start running the MyFutureBAT AutoTrader Expert Advisor on my live account. The performance on my initial back tests was fantastic and I want to see how it does in a forward/live environment. I’m using 4 hour charts, 3% risk, no trailing with BAT, 5000 pip take profit, and the EA decides the stop loss. Those were the settings I tested and worked out very well. The pairs that I’m running are the AUD/JPY, EUR/JPY, GBP/JPY, and NZD/JPY pairs.

Matt

For the most up-to-date information about this Expert Advisor and others, please click here.

I know my demo testing has been on hold lately but I’ve been making good progress on EA updates and new programming of EAs. Major testing will be underway again around the first of the new year.

Perhaps by then I may have the EA data collector application/website in beta. For those who don’t know what I’m talking about… In brief it will collect trade data sent from the EAs (if specified) and collect all the information on my main server in a SQL database. From there I will program a website around the data that can be filtered in tons of ways to analyze all of the collected data contributed by anyone who chose to allow the EAs to send it. I’m extremely excited about this project as it will take all of our demo/live testing to a whole new level. The database will not only store the resulting trades but also the settings that produced those results. Then if someone wants to get a clear picture for settings on a particular EA/setup/Pair/broker it can all be done using the website. Access to that site will be free to any lifetime members. That project alone is a major undertaking from a programming aspect and will add value to an already valuable package of EAs.

Does anyone have suggestions for the new site as far as functionality goes or things you’d like to see/do with it? I welcome your feedback.

For the most up-to-date information about this Expert Advisor and others, please click here.

I’ve recently found myself very motivated and anxious to keep the development rolling right along. As for which EA is next? Maybe you could help me to decide. I just finished posting new threads about a bunch of trading systems I read about on ForexFactory.com at one point or another. Some still look to have potential and so I’m putting them all out there for a vote. Which new Expert Advisor would you like to see me develop next?

For the most up-to-date information about this Expert Advisor and others, please click here.

After a grueling day of testing and modifications I think this EA is turning out to be a very good trading tool. I’ve run numerous side by side tests and published my results to the forum. One of the most impressive tests was the GBP/JPY with 6,269 and 7,063 pips on the first and second run.

For the most up-to-date information about this Expert Advisor and others, please click here.

Sorry for the delay but MyFutureBAT version 1.0 has been added to the download section. I will be restructuring the first post to preserve its original state and adding the typical items that define my EAs individual threads like settings, revision notes, videos, etc.

This release comes with money management functionality and should be tested carefully to make sure it works properly. I’ve tested it myself and it seems to work exactly as it should but I still think it needs other sets of eyes looking at it. Basically each order looks at a “RiskPercent” of the free margin divided by the number of pips in the stop loss.

Example:

((AccountFreeMargin * RiskPercent) / StopLossAmount)

Lets just say that account free margin is $10,000, risk is 3% and stop loss pips is 206. This would be the result:

$10,000 x 0.03 = $300
$300 / 206 = 1.46

Lot size would be 1.46.

Now doing things this way means that when the stop loss is small then lot size will be larger and vice versa. This is because the stop loss changes with each new trade. I should also mention that initial testing with the same setup on the GBP/JPY resulted this way:

36 orders
$4,269.62 profit
5,355 pips

Total ending balance of $14,269.62.

At some points there was actually positive pips and a negative profit due to lot sizes changing. So ultimately, I think this has been a good run whether you use the money management of not being that there was a total 5,355 pips bagged in roughly 4 months.

I’ve compiled the EA with the default settings I used to produce the results above using 4 hour charts and JYP pairs.

Matt
For the most up-to-date information about this Expert Advisor and others, please click here.

New pricing is in place on the forums now for the Expert Advisors and I feel it makes things easier and cheaper. Basically you now have a choice between a subscription or paying a one-time price. Either way you go there is now a cap of $240.00 total so if you choose the subscription then once you’ve been subscribed for a full year without cancelling then you become a lifetime member and never pay again. Or you can save $40.00 by paying $200.00 up front and never pay again. This then gives you access to every EA written and all new EAs released from here on out. I think that’s simple and I hope you do as well. And it’s cheaper too which I feel is important.

It’s not my intent to complicate matters but rather to simplify them. I hated making this change since it wasn’t the first but it actually makes everything cheaper and easier for everyone involved and provides future assurance you wont need to do anything further once you’ve made the initial plunge. Some members will also be receiving refunds if you’ve spent more than $200.00 combined on my EAs. Things were just getting out of hand and overpriced and so I put a cap on things.

For more information about the EA pricing go here…

Please take a moment to check out the forum if you haven’t been there in a while and see what’s new because we are growing.  Also, there is plans for an upgrade to the forum for early 2009 which will add a lot of new features for all of us.

A side note… My demo testing has been slowed greatly due to my concentrated efforts writing new EAs and adding enhanced features to existing EAs. I hope this does not affect the moral on my forums and encourage everyone to continue testing and keeping things lively. I am here… Just busy doing what I’ve promised everyone.

Thanks again for all your support and patience,
Matt