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June 3, 2011
I continue testing the SnowRoller expert advisor version 1.005 with the shown results on 4 symbols on a 1 minute time frame. I had to abandon EURJPY and USDJPY due to the poor results (drawdown) shown in the picture below. To the left is the Basket_Stats screen shot of 1.005 along with the jaggy equity curve (below) to date. Some of that equity curve included EURJPY and USDJPY. Currently tested symbols include:
EURUSD
EURCHF
EURGBP
AUDUSD
While SnowRoller 1.005 isn't hitting any home runs, it does hang around break even without getting itself into trouble as so many Martingale type strategies do. This forex system is designed as a slow balance bleed type (when markets are ranging) followed by rapid equity accumulation and a "pop" to close out all positions. The equity pop occurs because positions are added in the direction of the trending market, adding to winners and building equity. Losses are taken when positions are small, thus satisfying the cut losers short and let winners run credo.
Due to the fact that entries occur every 5 pips with this SnowRoller version, this forex expert advisor tends to favor pairs that have a very low spread. This essentially eliminates JPY based pairs. Also, from my testing the JPY pairs tend to do better with a reversal type of pattern rather than the default pattern which favors more trend setups (5 vs 100).
As far as SnowRoller expert advisor version 1.008, I've been gathering data on this version using the M15 time frame, and will start next week testing with the following cut down list: (drawn from the Basket_Stats picture to the left) SnowRoller version 1.008 is supposed to bank some profits (half the profits) while allowing the other half of profits to accrue and positions to build in the profit direction. By banking half the profits with profit targets (take profit) this forex expert advisor takes advantage of the markets' nature to back and fill during times when the market isn't trending. Thus, in theory at least, the negative impact of an extended sideways pattern should be mitigated.CHFJPY
EURCHF
EURUSD
GBPUSD
USDCHF
EURGBP
On the bubble is USDCAD and GBPCHF, but I think I'll stick with the list above "as is" since it should provide plenty of exposure.
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