12-09-2010
FMT 4.1
Loss
-42 pips
Total: +39 pips - since 11-08-2010
Stats: 7 BE, 5 No Trades, 7 Profits, 5 Losses
Broker: FXSolutions - 4 decimal point charts and fixed spreads
Settings: 40 SL, 20 BE, 35 TP
FMT simulates a successful professional Forex trader. The pros trade like robots, they don’t let their emotions get in the way. They don’t feel bad if they lose, because they think long-term, not short term. They have tested their trading plan, and they let their plan trade for them. They have total confidence in their plan. They never feel like they have to make up their losses and over trade, or change their plan. They don’t get greedy when they’re winning. They know that greed kills.
This EA has a proven record it can make money, but it will be tested during this holiday season. The Automated Trading Championship 2010, which is currently going on right now, is held from October 4th to December 24. Why those days? Because those are the toughest days to trade, they figure if a trading Forex robot can survive during this time, it can do well any time. At the end of the championship, the top three EA developers will share in a total award of $80,000 US dollars!
http://championship.mql5.com/
In regards to choosing a broker, the new Forex rules force brokers to disclose the percentage of profitable retail Forex client accounts. Here's the disclosure for third quarter 2010, data taken from
http://www.oanda.com/
Oanada 48%
GFT Forex 33%
IBFX 28%
FXSolutions 24%
MB Trading 24%
FXCM 23%
forex.com 23%
PFG 21%
If you want automated trading, the best broker, based on this data is IBFX.
Oanada doesn’t have the MT4 platform, but there are possible plans of adding the platform in the future. GFT forex doesn’t have MT4 either, but they did say you have the ability to hook up the MT4 platform to their trading software, using a program called Strategy Runner through technical support. But right now, they have no plans on adding MT4 as a simple installation.
