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It’s a while since my last update on PointBreak EA forward test. Well, things didn’t seem to turn out as positive as I thought. The demo account I use for the test stands at $30,874 at the time of writing, a respectable $5,874 profit over the initial balance of $25,000 in about 6 months - a 47% p.a. roi. However, the equity level is a notch lower at $29,996. What bothers me is my live account is still in a negative zone in terms of equity after 3 months. Of course, the account balance based on closed position is positive but the floating losses have dragged on for too long time. 

Looks like my search for the ultimate ea needs to continue. I will run the forward tests on PointBreak for a while more. Actually, I’ve resumed my tests on PipBoxer again. Will keep you posted.

During week 5 PointBreak closed just 73 trades generating $95.30 profit inclusive of swap. However there is a large open loss of over $3000. In week 6 the situation improved a little with 75 more trades closed and $69.27 profit added to my account which stood at $26,145 and the floating loss was down to $2,739.96.

PointBreak definitely closes trades with profit but in the process may accumulate floating losses when the market is ranging. The point here is how the system withstands the ups and downs of the market and doesn’t collapse before the new trending market resumes. I guess I’ll have to observe the results and behavior further before I can be more confident in trading the ea live.

This week PointBreak closed just 94 trades generating $153.84 profit inclusive of swap. My account balance now stands at $25,980.50. However there is a large open loss of over $1500 out of 40 open positions.

EURUSD looked trapped in a wide ranging market condition. At first the positions tilted or “skewed” to the long side. But since the market kept moving south, PointBreak started adding shorts and eventually skewed to the short side. Now EURUSD is moving back up again.

I’m forced to delay my plan to switch on my live trade with PointBreak for the time being. In the mean time, Forex Hope has released a new update of the bot. According to the author’s email, the new release fix lot-size problem on M cycle and add 3 new parameters for M cycle engine. I’ve updated my live chart accordingly.

This week PointBreak closed 213 trades generating $427 profit inclusive of swap. My account balance now stands at $25,826.66. The open loss for this week is $581.10 out of 10 open positions.

PointBreak did what it’s expected of doing, i.e. closing trades with profit. This was by no means a straightforward affair. At one point there were about 95 open trades and over $1,200 floating loss.

After the profitable closes I noticed PointBreak started new positions at bigger lot sizes supposedly a work of its money management engine.

From observing its behavior over the past few weeks, I’m much more confident with the bot and will go live next week.

This week PointBreak closed 44 trades generating $125.7 profit. My account balance now stands at $25,354.46. It was rather a smooth week. There remains 78 unclosed positions with a floating loss of $1,229.59 and are tilted to the long side. During the week, EURUSD ranged rather widely from 1.4510 to 1.4779 but with moderate slopes. Given the nature of PointBreak ea, I’m not concerned about this. The key here is you need a good equity base to maintain the positions until they are eventually closed at a profit. Account free margin is $23,539.87 translated into a margin level of 4,123.91% which is still quite ample.

If things proceed as expected, I may start a live trade with PointBreak soon.

I was contacted by the developer of PointBreak expert advisor to give his ea a try. So, I down loaded the demo version and launched it on a new IBFX standard demo account exactly a week ago. The initial equity was set at $25,000.

The ea ended week 1 with $228.76 profit after closing a total of 207 trades. You can see the Detailed Statement here. As you may notice, this is a completely different type of ea which trades much more often. The thing is the ea doesn’t even predict the direction of the market. The ea uses pyramiding and hedging strategies. The system will keep adding trades in the direction of the trend above or below a starting point. The pyramiding technique work best on a trending market. Once all the trades that are open reaches a profit total target, all the trades will be closed out thus realizing the profits and ends a cycle.

There is one problem to this strategy: on very choppy market, the floating loss will increase and may trigger a stop-out by the broker. In fact, during the past one week, the floating loss on my demo account reached over $1,300. The market just resumed a trend yesterday and PointBreak magically closed all positions at a profit.

The key here is to set the system up to trade very conservatively. There is also a built in money management which will automatically calculate the correct position size according to the risk level selected. This has the effects of containing the risk and compounding the profits.

I’ll want to continue the demo and see how the ea flares over the coming weeks before considering a live trading.

It’s been a while since my last post about PipBoxer.  Well, I did give another try on the EA when I got the new version 2.0.6 in October 2007. My conclusion is PipBoxer failed to produce my expected results. My account balance was slashed by a third during this one and a half month period. So I decided to demote PipBoxer that is to trade it with only 2 pairs AUDUSD and GPBJPY and on my very small live account. I don’t expect a miracle here. Just to see how this EA will do over a longer run.

I just let my support period end without renewing. What’s the point of paying for “supports” for this still doubtful product.  

Drawdown continued into this week with my PipBoxer fx trading. 18 trades were closed with 9 wins and 9 losses and a net loss of $32.95. The account balance was at $8,163.01. Some open position loss remained.

I decided to switch off PipBoxer for the time being. I will wait for the new updated of the EA reportedly to be released shortly. I can’t help but be a little sceptical of PipBoxer although I will give the new version a try once it is released.

A dismal week for my forex trading using PipBoxer with a loss of $321.95 for the week. There were 18 trades closed with 11 wins against 7 losses. A SL on USDJPY almost accounted for the whole loss of the week. My account balance dip below $9,000 to $8,769.25. There are 6 opened trades with substantial floating profit.

I feel I urgently need to see some recovery or I will need to seriously reconsider PipBoxer as my FX trading tool.

A disappointing month for my PipBoxer FX trading with $1,225.9 loss for the month bringing my account balance down to $9 091.20.

There were 69 trades closed with a win:loss ratio of 50:19. The detailed statement of my Interbank FX account for August ‘07 can be viewed here.

There were quite a few trades that looked promising in the beginning but ended up at outright SLs. That prompted me to start adopting some manual interventions which turned out rather negative to the overall profitability.  Toward the end of the month, I adjusted the number of maximum open trades up from 10 to 15 to remove any restriction to Pipboxer maneuvering. I have yet to see the effect of this adjustment.

I’m disheartened a bit but will continue to let Pipboxer trade for a few more months.