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Thread: Forex Funnel EA

  1. #1
    Intraday Master abiyanto's Avatar
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    Default Forex Funnel EA

    I was not in intention to test this Forex Funnel system as I can see this EA uses martingale system. Actually Im not the fan of martingale system.

    From what I know, Martingale System is a trading method using strategy to open multiplying lots on the next trade to cover its previous loss positions. This is why the system needs huge margin and high risk classified. Martingale system is good on ranging market, but will be suffer in strong trending market.

    I define this EA as a high risk system as when the price is moving too fast without any retrace, the EA will continue open wrong position trades in multiplying lots. And you can imagine what could be happened on this situation : margin call !

    However, during my 3 weeks test, the balance is increasing 100% form $5,000 into $11,563.41. As of now, the balance already reach $13,524.24

    Well, high risk high gain. Once again, I should remind you that this is a very high risk EA.

    The full review about this EA can be found on my blog here.

    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  2. #2
    Intraday Master abiyanto's Avatar
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    Default October 18th, 2008 update

    Latest Update, the balance is increasing to $15,358.10 with floating minus of -$571.78.

    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  3. #3
    Intraday Master abiyanto's Avatar
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    Default Patient

    Quote Originally Posted by blackguru View Post
    this is a good EA ,pls i want to have it....

    Hi blackguru,

    Patient is your treasure.
    Never use any EA before you test it for a while.

    Let me finish the test first, until end of this month. I will keep post update here. Meanwhile you can see the review on my blog.
    This EA is very high risk. Just like a machine gun, it will just hurt yourself when you don't know how to use it properly.
    Yet I will use it on my real account when the test is done with good result and not blowing my demo account.

    The last update, current balance is $16,489.28 with $15.887.03 equity, so the minuses floating is only about 3.6% as of now.

    Thanks.
    Last edited by abiyanto; 10-21-2008 at 12:32 AM. Reason: Current update
    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  4. #4
    Intraday Master abiyanto's Avatar
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    Default Update 21 October 2008

    The last update, balance is now $17,033.16 with -$911.34 floating orders.


    Last edited by abiyanto; 10-21-2008 at 12:58 PM. Reason: miss-typo
    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  5. #5
    Intraday Master abiyanto's Avatar
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    Default Update 23 October 2008

    First Buy of EUR/USD pair hit SL in yesterda's strong downtrend.



    Current balance is $19,529.28 with floating -$998,49
    Let see how far she can stands.
    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  6. #6
    Bullish IndigoSUN's Avatar
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    Default

    let`s see
    but can you set SL manually for 200usd max?

  7. #7
    Intraday Master abiyanto's Avatar
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    Default Update 24 October 2008

    We hit new record on yesterday's volatile market.
    $5,483.14 profits was booked in one day as you can see on inserted image.

    But the volatile market also drew a considerable 9.33% drawdown ( $1,910.80 ) as you can see in red circle mark.

    Current balance is : $24 163.79 with Floating P/L: $-1 977.55

    Quote Originally Posted by IndigoSUN View Post
    let`s see
    but can you set SL manually for 200usd max?
    I think that's not how this EA works.
    This EA has been designed especially for USD/JPY in ranging market less than 1,000 pips range. But for a particular reason I added EUR/USD pair too. You should notice that we already made a few more thousand pips in profit when SL was hit. So overall, this EA increased our equity even when the 1,000 pips SL was hit.

    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  8. #8
    Intraday Master abiyanto's Avatar
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    Default Update 25 October 2008

    600% has been achieved. hehehehe....

    Yesterday, once again the EA hit new record booked $6,829.13 profit.

    Current balance : $30,992.92 with floating loss $-2 996.80
    It's the biggest floating loss ever.

    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  9. #9
    Intraday Master abiyanto's Avatar
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    Default Final result

    Sorry for late update.
    Due to my increasing work since last week, I was unable to online on this forum.

    Forex Funnel EA had been survived for about 4 weeks during my test. Downtrend session made it booked over $25K from $5K initial balance, which was made the balance into $30K (600% ROI).

    But while I was busy with work on Monday morning 27/10/2008, strong bullish trend occured made Funnel do some overtrade orders. And it caused margin call on my demo account.



    Conclusion of this test :
    • Forex Funnel EA is a martingale system EA.
    • This EA is very dangerous for forex newbies. It needs high supervision from a well-knowledged forex traders.
    • This EA is very good on downtrend session but will be suffer in strong uptrend.
    • In strong bullish retrace condition, we better turn off the EA.
    • In certain situation, you may have to do some cut loss ( It didnt happen during my test period).
    I will do some tweaking on this EA when time is possible for me. But until then, I will not use this EA on real account.

    Have a safe trading !
    • Forex Trading is 10% skills and 90% psychological
    • Forex Trading is about keeping your losses small and letting your profit runs
    • Risk comes from NOT knowing what you are doing

  10. #10
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    Default

    i am testing martingale system now and trying to find out the best setting for it..i think if its handled appropiatly it could be very profitable

  11. #11
    In Profit forexdude's Avatar
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    Default

    wow great results
    i have the v1.1
    is there any newer version coz frsnkly i didnot bought it from the official site

  12. #12
    Fxseer
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    Default

    Well

    I can say that Forex Funnel is one of the best EAs you just need to know how to trade it...

    firstly...

    You have to consider the Acc size...

    $1000 acc you can only trade nano lots
    $10000 acc you can only trade micro lots
    $100000 acc you can only trade mini lots

    and you need to to turn off your EA at HIGH impact annoucements.

    and you will be find if you follow this.

    I am live trading this for 2 months with no issues at all, I gain a 2% to 3% profit per week.

    on a 10K acc thats a $200 to $300 profit per week... not bad for doing nothing...

    Cheers
    Fxseer

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    Default

    Quote Originally Posted by Fxseer View Post
    Well

    I can say that Forex Funnel is one of the best EAs you just need to know how to trade it...

    firstly...

    You have to consider the Acc size...

    $1000 acc you can only trade nano lots
    $10000 acc you can only trade micro lots
    $100000 acc you can only trade mini lots

    and you need to to turn off your EA at HIGH impact annoucements.

    and you will be find if you follow this.

    I am live trading this for 2 months with no issues at all, I gain a 2% to 3% profit per week.

    on a 10K acc thats a $200 to $300 profit per week... not bad for doing nothing...

    Cheers
    Fxseer


    LOL! are u kidding me? on 10,000 usd account u only gain 200-300 usd per week using EA? if u manualy trade it, u can gain 20% of your balance in just one day....like i did.

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