Paraswing EA Product Details
Product: Paraswing EA
Price: $99.00
Currency Pair: EURUSD
Timeframe: 1 hour
What You Receive: Paraswing Installer, set up instructions, free upates
Guarantee: 30 Day Money Back Guarantee
What’s Behind The Paraswing EA?
The Paraswing EA is a fairly rare thing in the Forex robot market these days – and that is simple!
While I often praise systems for offering flexibility in providing a range of settings that can be used to ‘tweak’ and refine the strategy offered, there is a lot to be said for systems that are supplied with the intention of simply working ‘out of the box’.
The Paraswing Forex robot falls into this camp with the trading algorithm mostly hard coded into the EA. In fact the settings on offer number only two. Both focus on the money management used by the strategy.
The first allows you to tailor the lot size to your trading account while the second allows you to trade with variable lot sizing by making use of the ‘Percentage Free Margin setting.’ This is essentially a built in money management feature. With this setting you can specify the level of margin allocated per trade. As your account size grows the lot size is then automatically increased to reflect the greater equity available in your account.
Suggested parameters for both of these settings are supplied by the vendor, allowing you to specify whether you want to take a low, medium or high risk approach with the strategy on your account.
The strategy used is based on Swing Trading. This a fairly popular approach used by traders and certainly has many advocates in the Forex field. Charts are set on a 1 hour time frame with indicators and calculations factoring in hourly and 15 minute time-frame moves, as well as the Weekly High/Low / Close. The documentation supplied by the vendor suggests that the success rate of the system is somewhere between 60-70%.
In keeping with the simplicity of the system as already mentioned, both the take profit and stop loss levels are dynamically managed but look to be around 100 pips in either direction.
Paraswing EA Backtests
In running the backtests on the strategy I decided to stick with fixed lots as this I believe gives a truer picture of performance over the selected time periods.
The tests below were run against Alpari UK data and should prove reasonably accurate in terms of the achievable performance. Results are unlikely to be very broker sensitive due to the higher timeframe of trading and wide take profit and stop levels (unlike scalping strategies spread and slippage will have minimal impact).
Unlike many EAs which have struggled over recent months, performance looks to be holding up well as evidenced by the 2011 year to date test. Interestingly the highest draw down seen over the extended 5 year test (2005-2010) was just over 30%, while this year the highest level to date is 10%. It may well be that the strategy is more suited to the volatility in the markets of late.
You can click on any of the charts below for a full drill down into each individual Strategy Tester report.
EURUSD
EURUSD 2011
EURUSD 2010
EURUSD 2005-2010
Paraswing EA Verdict
Both the performance and simplicity of the Paraswing EA make this an attractive proposition.
As previously mentioned, trading on a high time frame means that the strategy is not reliant on broker spreads or slippage in order to produce its results. For this reason it should also perform fairly consistently across a range of different brokers.
While some traders may bemoan the lack of ability to adjust the strategy with so few settings exposed, to us this is also one of its main attractions.
All in all the Paraswing EA provides traders with a potentially profitable out of the box automated trading solution.
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