The Fast Forex Millions EA is another Forex robot which follows the tried and tested release formula of promising high life changing returns on its website.
These claims are reinforced on the website with some impressive looking performance stats across five Forex pairs.
This expert advisor also claims to be broker independent, meaning that the MT4 broker you use should not make too much of a difference to the robots performance.
|Where To Buy:||Fast Forex Millions|
|Currency Pairs||EURUSD, GBPUSD, USDCHF, USDCAD, AUDUSD|
|Time frame||15 minutes|
|What You Receive:||Installer, manual, email support|
|Guarantee:||30 Day Money Back|
The Fast Forex Millions EA
By default the strategy is run over five of the more popular pairs – EUR/USD, GBP/USD, USD/CHF, USD/CAD and AUD/USD. All pairs are run on the 15 minute chart time frame.
Live account performance is not provided on the website, although several backtests and screen shots from myfxbook are displayed. However without any real way of validating these claims it is impossible to vouch for the validity of these performance figures.
Of note these show performance figures from commencing from Dec 2009 for all pairs apart from the EURUSD. For this pair the stats begin from July 2010.
The EA is supplied with click a through installer and instruction guide which takes you through the installation process. It also provides a brief explanation of the various configurable settings. In addition all required files are also supplied separately if you want to carry out a manual installation of the robot.
There are couple of interesting features which are revealed by the settings. A ‘Reverse Exit’ setting can be enabled which will close out an open trade when a reversal in the market is detected. There is also a Hedge setting for open trades called ‘Dual Mode’ and several other period settings for the various indicators which the robot uses.
While I don’t profess to know exactly the criteria that the strategy is using, it would seem that the inclusion of the ‘PerWPR’ setting (Period of Williams Indicator) would indicate that is making use of one of more of Bill Williams indicators.
For those who don’t know Bill Williams is the found of the Profitunity Trading Group and is a leading proponent of technical analysis. During his career he has developed and championed a range of trading indicators including the Alligator, Williams Oscillator and Fractals.
Given that the PerWPR is a time period setting, the strategy is likely to be making use of form of Williams oscillator. These tend to be based upon the MACD or moving averages, so it is likely that the strategy of FFM is making use of some form of moving average based trend/divergence strategy.
As usual the backtest I ran on this system made use of Alpari UK data. The tests were run using the suggested default settings.
Keep in wmind that there seems quite a bit of scope to alter the way in which this system trades due to the exposed settings in the EA. It could therefore be worthwhile running some optimizations across the various pairs to see what this throws up in performance terms.
You can click on any of the chart images below to access the full strategy tester results.
One thing I have to bring up here is the problem that I had in actually getting this system running in the first instance. It simply would not authenticate with the registration server. Having a quick look around the web it seems I was not the only one who was encountering this issue.
On emailing the vendor it did seem that there was indeed an issue and a couple of days afterwards, as promised, a new version was released which resolved this issue.
It is not always the case that vendors are quick to respond to emails, so hats off to the support team of Fast Forex Millions.
In terms of performance the backtests are certainly impressive making this one of the more attractive EA’s on the market at present. Of course whether we can expect the system to deliver the ‘Millions’ alluded to in its title I doubt. However it certainly looks interesting and if it is not that broker sensitive as claimed, could make a good addition to a trading portoflio.
You can track the live performance of the system on the live forward testing page. The EA is running on a live FXOpen account with the only change to the default settings being that the Risk has been reduced to 3 from the default of 5.
30 Day Money Back Guarantee