another ea?

[Jer]

Hey guys,

Found this one in my inbox today. Have not read anything about it, just wanted to share.

Jer

http://forexboomerang.com/indexholiday.html

[observetodo]

I received that email, too,. Does anyone have a recommendation about this?

[JillyB]

It's for sale via Clickbank so there's no risk in trying it out as they're excellent at giving refunds.

[JillyB]

Just bought it and tested if over this year.

Anything less than a $500 account was blown up, but anything over this made signficant gains. It automatically increases lot sizes and has a max_lot setting which can be adjusted. The drawdown on it is really bad though with relative drawdown at 72.87%. For this year it turned £1,000 into £13,860 - however at it's peak last month, that value stood at £24,118 on 13th November. That's a hec of a drawdown in one month.

Also if you backtest it over 2007 -2008 it turns £5,000 into £357 by the end of 2007. That's something I definitely couldn't take.

This is one to avoid boys and girls.
Now I'm off to clickbank to get my refund.

[Jer]

thanks for the quick analysis JillyB! I think I may avoid.

[james_phuc28]

Hi JillyB,

Is the result from your back-testing or forward-testing of Forex boomerang EA?

I also back-tested it, but it did not make USD500 to over 300,000USD as they claimed on their website.

But when I put it to forward-testing for 1 week last week, it made 2 to 3 wins (90 pips per trade), and then 1 loss (110 pips per trade). So, all in all, it did win. 2 wins to 3 wins = 180 pips to 270 pips - 1 loss of 110 pips = + 70 pips to 160 pips.

1 week can not tell much about this EA, but that's what I did forward-test it last week.

This forex boomerang EA use ADX Indicator to signal a Buy or Sell on H1 of Eurusd. There are some rooms to tweak this EA on the Take-profit and Stop Loss. Default take-profit is 90 pips, and default stop loss is 110 pips. If we can try to back-test it with different take-profit target and stop loss to find the best settings, then, it will become a good EA. But then, it takes much time to do so.

It's my own experience with forex boomerang EA.

Best regards,
James

[JillyB]

Hi JillyB,

Is the result from your back-testing or forward-testing of Forex boomerang EA?

I also back-tested it, but it did not make USD500 to over 300,000USD as they claimed on their website.

But when I put it to forward-testing for 1 week last week, it made 2 to 3 wins (90 pips per trade), and then 1 loss (110 pips per trade). So, all in all, it did win. 2 wins to 3 wins = 180 pips to 270 pips - 1 loss of 110 pips = + 70 pips to 160 pips.

1 week can not tell much about this EA, but that's what I did forward-test it last week.

This forex boomerang EA use ADX Indicator to signal a Buy or Sell on H1 of Eurusd. There are some rooms to tweak this EA on the Take-profit and Stop Loss. Default take-profit is 90 pips, and default stop loss is 110 pips. If we can try to back-test it with different take-profit target and stop loss to find the best settings, then, it will become a good EA. But then, it takes much time to do so.

It's my own experience with forex boomerang EA.

Best regards,
James

Hi James,

My testing was purely backtesting.

The take-profit and stop loss are about the only things that you can alter on this ea and I wouldn't be surprised if the developers have already done this.

The EA really does look very much like a 'curve fitted' ea. Where the results shown are brilliant, but only for the specific period shown. I notice here are no current 'live' trades shown and their testing stops at the end of October.

[clolab]

Did anyone know Forex hitter EA?
I post a backtest for last year and it turns 1000 -> 100.000 at october and then to 68.000 dicember.
That's the best results i ever seen for an EA.

[montage]

forexboomerang is marketed in almost the same way as fapturbo...This gives me pause to look further into this. I was told that these guys including fapturbo are all the same guys marketing experts and simply repackage a product to sell. Proceed with caution and test, test and post all feedback so we can learn as a community.

Thanks

[clolab]

maybe. This is a commons tactic in the internet market.

[icg]

Very impressive, but have you tested it in previous years? Last year was very unusual for FX and all other markets. Some trend-following and breakout systems did great in October and November because of the huge moves. Those weren't "normal" trading conditions, though.

I'd like to see how this EA did in 2005-2006, when trading was choppier and average daily ranges were much smaller. At some point, the markets will consolidate and we'll see those kind of trading conditions again.

Did anyone know Forex hitter EA?
I post a backtest for last year and it turns 1000 -> 100.000 at october and then to 68.000 dicember.
That's the best results i ever seen for an EA.