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So let's see what phoenix can do, or what can't. So the author suggest that we used a JPY pairs right?
Test as much as we can. i've been testing upon EURUSD and USDJPY with TF=15min for 3 days, EURUSD trade 1 time,not closed,48 points loss. USDJPY trade 3 times, 2 closed with 42 points profit either and 1 not closed with 21 points profit.
Boring, boring, and boring!! Another boring day! Nothing really moves. But let’s wait for tomorrow. A lot of economic news. That should really shake up the currencies. And if I'm not mistaking Phoenix will perform better as soon things gets moving.
And if you want to know what your open trades will do, visit this site:
OK. Let’s talk about the MaximumRisk parameter in Phoenix. But first what do you expect from Forex? What do you expect from a MetaTrader Expert Advisor like Phoenix? Are you happy with a lot of small gains or are you going for the Big Money?
Well, if you like me then you’re not satisfied with the small gains but you want to improve your financial situation drastically. That means go for the Big Money and take some risks.
These are the results for a six months backward test for the GBPUSD (4.2 – 10.2)
MM=false Lots=1
Net Profit 14.888 (MD=5.92%)
MM=true MaximumRisk=0.05 (default)
Net Profit 10.115 (MD=7.24%)
MM=true MaximumRisk=0.1
Net Profit 29.117 (MD=14.8%)
MM=true MaximumRisk=0.12
Net Profit 40.598 (MD=16.95%)
If you really trust Phoenix and if your back and forward testing shows you the results you want, then there’s nothing against increasing the MaximumRisk.
In my opinion Phoenix 4.2 will make you money. It’s your choice to be satisfied with a couple of small gains or to change the MaximumRisk parameter in order to get a bigger piece of the cake. Personally I know what to do!
(If you’re going live with Phoenix then be aware that Forex is a risky business. You and you alone are responsible for what you are doing or willing to do with Phoenix. Don’t come to me when things went wrong!)
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