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[30/09/2011] USDJPY pair removed from all of strategies due to bad trading results.

did u used it in 5M timeframe for EURUSD by strategy 2? it has great backtest.

Dear mazavar,


Thank you for your post.
I've been used this ea only with 1h time frame for strategy 2.
I'm gonna do BT and FT with 5min time chart afterwards.
Thanx for your survey!

dear tabibito
thanks for your fast response. I have backtested many times in many time period in time frame 5 M.
its wonderful. but the result for eurusd is not same for other pairs. it's just good for eurusd but for other pairs it's disappointing.
do u know why? it may be for low spread in eurusd?

Dear Mazavar,

Also glad to know you've tested not only with EURYSD, but also with many multicurency pairs and found out to be gained poor results from them.
BTW, could you please list the brokers you've tested with?
I agree with you that tight spread is necessary condition in using this ea, along with small slippage, no re-quotes, and excellent execution speed to make profitable trades.
If the problem of bad results with currencies other than EURUSD is in the matter of the spreads, I think some ECN brokers can make it, as some forex brokers offer as tiny spreads as EURUSD with other major currency pairs, as well.

Well, I also tested with many currency pairs other than EURUSD, but not changing time frame.
As far as my forward test on IrisFX, strategy 2 seems unstable in its function by default setting, especially the trend is not strong or in box range.
(For this reason, strategy 2 works very good with some special occasions, such as the time of announce of the non farm payroll, etc...)

dear tabibito
I confirm u. I think when market is flat it doesn't work very well. because it's strategy is based on break out.
I have just used ALPARI NZ broker. it has low spread but high re-quote.
anyway does iris have new version? if, yes how can I find it?

Dear mazavar,

I'm afraid, but I also do not hear about the new release of IrisFX.
The vendor seems to stop doing major support on this ea.
As far as I know, no newer Ver. of this ea has come out yet.

thanks for your information

Dear mazavar,

I tested strategy 2 with EURUSD on 5min time frame at many different kind of brokers.
As you mentioned, the result was fantastic!
This setting ate up the balance in a couple of days/weeks later.
Meanwhile, if using forex assistance tool with a function that realizes reverse trades - when IrisFX takes LONG position, then the ea which does reverse trade takes SHORT position, and vice versa - I think we can make large profits in very short term.
However it seems very difficult to realize such trades, since there may be some latencies both in pricing and execution by using such reverse tools, in particular with the EAs normally taking small profits in a few seconds/minutes like IrisFX.

dear tabibito
what brokers did u test? did the results differ? i didn't understand about Forex assistance tool? but any way only forward test in real account can prove profitability of this ea in 5m timeframe.

Dear mazavar,

Alpari_NZ(Alpari MT4), as you tested.
I got the data from historical center to refresh the latest pricing data using 1min section and attained 90% of modeling quality.
Here, I uploaded a statement of backtest result I had tested.
Check it out and let me know if something is different/wrong from yours, please.
Anyway, I'm gonna launch some other MT4 demo platforms at various brokers to check out how the 5min forward test is going from tomorrow.

Thanks,

dear tabibito
I backtested last night and i had the same result you uploaded. I think its because market is closed. and historical data is not so good. I backtsted 1H time frame last night and result was terrible too. you can check it and backtest in 1H strategy 2 now. it wouldn't be the same result when u backtesting when market is open.

best regards

Dear mazavar,

So, do you mean the backtest taken on weekend and during weekdays is sometime different in the result for those demanding tight condition like IrisFX? - I mean the ea, the trade like taking small profits within a short term(like 'light-speed scalping' or 'light-speed breakout system'), not day trade nor swing trade.
Anyway, when the market is open tomorrow, I will run forward test and also will take backtest again to see there are some differences or not.

Anyway, thank you for your info!

dear tabibito
I will have forward test tomorrow too. let me know about your results.
my yahoo ID is 'alimomeni2002'. plz add me to have easier conversation.
thanks allot

Dear mazavar,


I started forward test just now.
Here I put several referral links below to show some forward tests at various brokers.

[FT1] Alpari_UK
https://www.myfxbook.com/members/crescent/irisfx-eurusd-st2-5min/184496

[FT2] Pepperstone
https://www.myfxbook.com/members/crescent/irisfx-eurusd-st2-5min/184492

[FT3] FXOPEN_ECN
https://www.myfxbook.com/members/crescent/irisfx-eurusd-st2-5min/184494

[FT4] ThinkForex with multi currency pairs and ST1-3 for EURUSD, all running in 5 min chart
https://www.myfxbook.com/members/crescent/irisfx-multi-st1-3-5min/184499

Also found backtest done on the weekend and during weekdays is greatly different in result today.
This is because of the matter of the spreads.
It depends on when to start backtest.
If starting backtest on the weekend when the spread is normally wide at most cases, the result of the backtest is likely to be bad.

Thanks,

thanks for your FT. results are different between brokers but it's very soon to judge about them.