Meta-Trader - Lower Left to Upper Right

Welcome back Forex traders.

It was an interesting week in Forex with some highly directional price action in my favorite pair, EUR/USD. Since the low on June 7th, its been pretty much straight up for this pair which clearly affected results for my robots as follows:

Gods Gift EUR/USD and Gods Gift GBP/USD finally pulled decisively ahead of Megadroid and both accounts are now up almost 40% year to date. God's Gift EUR/USD got onto the trend early in the week and at one point was up almost 160 pips. It gave it back somewhat, but still ended up almost 50 pips on the week. God's Gift GBP/USD was less active, but still took home about 33 pips on the week.

Megadroid Live and Megadroid Demo were idle again this week as were the challenge accounts at FXCM and IamFX. Megadroid live hasn't traded since 6/7/2010. The Megadroid Team announced their v1.3 version on Friday and e-mailed it to registered users. Here's their summary of new features:

1) a small fix to the AutoGMTOffset feature
2) improvements to the strategy
3) improved DLL access speed
4) a small fix to the Journal tab messages

This prompted me to do a back-test both the old and the new versions year-to-date. The results were somewhat disappointing. On the FXDD demo account, v1.21 lost -13.6% year to date and v1.3 lost -20.5%! Modeling quality was high on this test. On the Forex.com live account, v1.21 gained +6.1% and v1.3 gained +11.2 year to date. This tells me 2 important things:

1) Back-tests results aren't worth a damn with this system
2) My broker may have been doing me a favor by not trading it

Seriously though, I'm not sure what to make of this system. Since i'm up about 20% for the year in the live account, I can't complain and i'm going to let it ride.

Scalper X had a bit of a rough week and lost 6 pips. The persistent strength in EUR/USD carried over to EUR/CHF and for the first time in recent memory, price gains made in the early Asian Session (7-10PM EST) were not "thrown back" by the end of the Asian session. Scalper X was therefore on the wrong side of the trade 2 out of 3 times this week, but at least showed decent loss control. Clearly the broker made out this week, netting almost 5 pips on either side of these trades. The net result was that the broker made 30 pips and I lost 6! Oh well, better luck next week.

Newcomer System Q picked up about 7 pips on the week. This system was sidelined on Monday while I resolved some license issues and on Friday when I turned the robot off in advance of Non-Farm-Payrolls. So it didn't really get in a full week. It will be interesting to see if it can continue its barn-burning performance as it is up 6.5% in only 2 weeks time!

Our other newcomer Atinalla #1 started out the week strong and at one point was up over 100 pips. But it gave it all back and ended up down about one half of 1% in closed trades on the week. It ended up going into the weekend long 0.05 lots of EUR/USD so we'll see if the strength in EUR/USD can continue into next week.

Finally, I got a nice freebie from the Megadroid people regarding a system they call Double-Doji. Its a complete trading system with setup, entry, take profits and stop losses. Also, it looks to be very easy to code into an indicator and Expert Advisor. So if all goes well, I should have a post on that in a few days time.

Take care and enjoy your weekend.