Forex Envy EA

This Forex Envy EA found and little tested with interesting results!

On the EA’s site there are a number of backtests for various currency pairs and time periods. Let’s look at the backtest for the period from May 21, 2007 to October 27, 2011, run with the AUDNZD pair. The test uses an FXOpen ECN account and a 30-minute time frame.

The results are solid, given that the relative drawdown (which measures the probability of losses) is at a nice level of about 15%. A total net profit of $204,888 is recorded for the period, but the exact amount of the initial deposit cannot be seen.

Forex Envy EA

Being the greedy bunch that we are, we’ll explore the most profitable account so far, a real account registered with TradeFort. The account trades several currency pairs: AUDNZD, AUDUSD, EURGBP, EURJPY, ¬†EURUSD, GBPUSD, NZDUSD, USDCAD, USDJPY.

The gain since the account’s launch on Jan 25, 2013 has amounted to more than 39%, and the average pips per trade are 7.5, which indicates stable performance. Low-risk trading is underlined by the nice 13% relative drawdown.

Yet again, the Forex Envy’s history of trades presents a gloomy picture of series of losses, albeit of small size.

A performance issue for Forex Envy is that it keeps many trades open simultaneously. At the present moment there are 54 such trades. As a result, there is a huge risk for future performance, potentially leading to high drawdown.

Free Download

Download Free Forex Envy EA Robot

MT4 Forex Robot Characteristics

Platform: Metatrader 4

Type: Expert advisor

Time frames: any.

Installation

Copy and paste the ForexEnvy2.0.zip into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

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