I've started running IrisFX from EM Innovations on my live account about a week ago, and it is so far looking very good.
Actually, I've tested this EA on four different brokers and found it didn't work well on three of them. The EA is very broker sensitive. Because this EA places stop buy or stop sell orders and wait for the orders to get filled, the bigggest obstacle for this EA is slippage. If the broker frequently slips, the EA doesn't work well.
With FxOpen, slippages always happened and the account just didn't go anywhere. With MB Trading, although the spread was extremely tight and the commission was fair, it slipped some times (not as bad as FxOpen, though). With FxPro, I don't know why, but the stop loss had been weirdly wider than other brokers. I guess something is wrong with the EA or the broker, but since such wider stop loss level was unnacceptable to me, I stopped using FxPro (more than twice the ordinary stop loss on other brokers).
It has made about 20% in about a week, and I know it's just too good to be true. I'll have to see how it goes in a long run.
3.26.2011
3.01.2011
My Favorite Broker and EA
Having tried so many different brokers and EAs, I now like one broker very much. I think they are among the best in this industry. The beauty of them is that they never stop you no matter what kind of strategy you use. They offer no limitation in trading duration, and no limitation on TP or SL pips distance.
I don't like mentioning the name because I want them to keep offering this good trading environment. So I don't want them to be famous. As long as I'm one of few winning trader, they don't care.
Like this broker, I use one particular EA that majority of people believe uselesss or junk. But for me, the conbination of this EA and the broker is a perfect match.
But again, I don't like mentioning the name of the EA. I need to protect my trading environment. FapTurbo has one become very famous around the globe and it became a loser after several months because brokers had to protect themselves against Fap traders.
My bot is neither Fap nor derivation of it. It uses much less stop loss and much better winning ratio. So it's much more stable and safe.
About a couple of months ago, one guy named James Phuc from Vietnam sold me a derivation of Fap with very high price. But after a couple of months I realized it was Traxxon. If you happened to talk to him in person, never buy anything from him. He just changes the name and appearance of EAs and sells it to people. You can get the same thing with one tenth of the price he offers.
Luckily, I found a better bot and no longer use that modification of Traxxon. The EA I currently use is commercially available, but nobody believes it works.
I don't like mentioning the name because I want them to keep offering this good trading environment. So I don't want them to be famous. As long as I'm one of few winning trader, they don't care.
Like this broker, I use one particular EA that majority of people believe uselesss or junk. But for me, the conbination of this EA and the broker is a perfect match.
But again, I don't like mentioning the name of the EA. I need to protect my trading environment. FapTurbo has one become very famous around the globe and it became a loser after several months because brokers had to protect themselves against Fap traders.
My bot is neither Fap nor derivation of it. It uses much less stop loss and much better winning ratio. So it's much more stable and safe.
About a couple of months ago, one guy named James Phuc from Vietnam sold me a derivation of Fap with very high price. But after a couple of months I realized it was Traxxon. If you happened to talk to him in person, never buy anything from him. He just changes the name and appearance of EAs and sells it to people. You can get the same thing with one tenth of the price he offers.
Luckily, I found a better bot and no longer use that modification of Traxxon. The EA I currently use is commercially available, but nobody believes it works.
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