Forex Germany

Expert Advisors - Forex Fancy Bot

Forex Fancy Bot is a more long-term oriented Expert Advisor trading two independent volatility based breakout strategies. Its objective is to identify new trends in an early stage while limiting the risk of loss by tight stop loss limits.

The Expert Advisor calculates stop loss and take profit limits dynamically based on market conditions, whereby the stop loss limit is set around 20 pips and the take profit limit around 40 pips.

Forex Fancy Bot is equipped with an advanced money management which allows assigning just a portion of the account balance to the EA, making it easier to trade different EAs on one account. Another feature that can be enabled closes trades right before the weekend to prevent any negative impact of weekend gaps. Experienced users can optimise the trading parameters of both strategies to adjust the EA to their personal preferences.

Based on backtests, the risk reward ratio of Forex Fancy Bot ranges around 1:2 which is a solid value. Nonetheless, given the hit ratio of only slightly above 40% longer drawdown periods are part of this strategy and have to be expected. As both strategies tend to trade simultaneously most of the time about 200 trades per year can be expected on average.

A backtest based Monte-Carlo-Simulation with a lot size of 0.10, a starting balance of EUR 1,000 and 100,000 iterations shows the following results for expected profits, expected drawdowns and the derived value at risk. Here the value at risk is expressed as the drawdown which is expected with a probability of 95% and 99% respectively not to be exceeded.

Strategy Profit Drawdown Value at Risk
max min Ø max min Ø 95% 99%
S1 4,587.82 -830.74 1,664.67 93.59% 2.93% 17.99% 35.44% 48.10%
S2 4,250.25 252.06 2,204.31 61.15% 1.63% 10.00% 19.56% 26.13%
S1 + S2 7,142.85 398.34 3,870.85 79.94% 2.07% 11.87% 26.21% 35.88%

Trading strategy

Breakout strategy

Currency pairs

EUR/USD

Chart

M15

Trading hours

European and American sessions.
08:00 - 20:00 GMT

Price

USD 199 for the first year, USD 15 per customer for the following years.
Payment through RegNow.
Sales are currently closed.

Return policy

The developers grant an unrestricted right to return within 30 days of purchase which will be paid back through RegNow.

Licence

The licence is valid for one live and up to five demo accounts and includes support and updates. After one year a maintenance fee of USD 15 per customer is charged, no matter how many licences the customer owns.

Manual

An online manual explaining the installation and set up of Forex Fancy Bot is available after purchase.

Links

Forex Fancy Bot Homepage

Live performance

The performance of Forex Fancy Bot is demonstrated, as follows, on an exclusive FinFX Live account as well as on a live account of the developers.

The live forward test has been stopped when the 95% value at risk was reached.




Backtesting

Backtests for Forex Fancy Bot for the period 2009 - 2013 are shown below.


years 2009 - 2013, Spread: 2.0 pips, risk: 2%

Forex Fancy Bot - Backtesting 2009 - 2013


years 2009 - 2013, spread: 2.0 pips, lots: 0.10

Forex Fancy Bot - Backtesting 2009 - 2013
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