Market Conditions – The Rise And Fall of Forex EA’s
The last few months have been a wild time in the forex markets. The Euro has crashed due to the problems in Greece triggering an economic crisis in Europe which mirrors what happened in the US last year. That situation has been stabilized for now by an EU/IMF bailout, but volatility is certainly still alive and well in the forex markets.
Which brings me to the EA’s I have been testing. Interestingly, thanks to a plunge in the AUDNZD following the crash in the Aussie dollar, the Robominer has come back into profit. Primeval EA has suffered losses due to volatility in Euro based pairs particularly the EURCHF and EURGBP. So for anyone who is getting into forex auto trading at this time I would recommend some diversification. In other words, use more than one EA. Unfortunately for me, I did not have enough capital to maintain the minimum recommended live account balance to benefit from Forex Goldmine so I did not benefit from Robominer’s recent success (although you can see the results in my demo account balance!)
On another front, I have started testing a free EA which readers of this site can gain access to by subscribing to the Forex Auto Trading Systems Newsletter. This is not a frequent trader, it is supposed to make a trade once a week but so far hasn’t made a trade so I will keep you updated on how that goes.
I am also about to start testing another Forex Goldmine EA, the Pip Strider. This will probably be another highly risky venture for me as my live account balance is now less than $1000 so it will be sink or swim for Pip Strider. However, with any luck it will make enough winning trades to stay ahead of disaster. I will also be running Pip Strider on a $10,000 demo account so that will give readers a more accurate assessment of Pip Strider.
