Forex Avalanche
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| Forex Avalanche | Click Here! | GBPUSD | H1 | dynamic | dynamic | no | manual |
Forward Test (Demo)
Status: running
Last update: 2010 March 12, 17:08 (GMT)
| EA Name | Statement | Weekly Net P/L [Pips] | Weekly Profit | Weekly Trades | Winning Trades | Max/Min [Pips] | Closed P/L [Pips] | Open P/L [Pips] | Total Profit | Max. DD [%] | Weeks in Test |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Forex Avalanche | Statement | 0 | 0% | 0 | 100% | 1 / 1 | 1 | 0 | 0% | 0% | 9 |
Backtest
| EA Name | Statement | Period | Pair | Closed P/L [Pips] | Open P/L [Pips] | Trades | Winning Trades | Max/Min [Pips] | Max. DD [%] | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| Forex Avalanche | Statement | 2009 | GBPUSD | 1515 | 0 | 68 | 81% | 163 / -247 | 41% | |
| Forex Avalanche | Statement | 2008 | GBPUSD | 629 | -85 | 57 | 65% | 282 / -265 | 30% | |
| Forex Avalanche | Statement | 2007 | GBPUSD | 473 | 0 | 15 | 80% | 115 / -95 | 6% | |
| Forex Avalanche | Statement | 2006 | GBPUSD | 11 | 0 | 13 | 69% | 79 / -88 | 7% | |
Homepage / Vendor
Forex Avalanche is a product of Simon Matthews. On the page he states that he is a banker but was not able to make money in forex until he got avalanche from a collegue who did quit his job. Here an exerpt from the story:
One Day, All That Changed
I was staying back late in the office one night, after hours, when a young American guy I used to work with popped by to pick up some things he’d left in his desk after a surprise resignation a few weeks earlier. We’d all been shocked when he left, he was like the firm’s golden boy.
So he walked by my desk late that night, and stopped, smiling, when he saw the Forex books and courses open on my lap. I couldn’t help but ask,
Why on earth did you quit? What made you leave a high paying job, and WHY are you smiling so much??
He looked at me a moment, seeming to consider something, and then handed me an envelope with the words FOREX AVALANCHE written on the front… and then he left, still with that crazy grin on his face, and, I noticed, a $12,000 coat over his arm.
I opened the envelope, found a USB drive and plugged it into my computer.
And let’s just say, the rest is history! An avalanche of profits sooned changed my life forever!
Beside this weird story there is a back test summary shown which is complete and we have been able to reproduce. There are sample trades as well claiming high profits which will not be achievable by normal users. Here an example: Forex Avalanche was at it again May 21 when it took a SHORT on GBP/USD (H1) at 1.57300 with 6.14 lots, and closed the same day at 1.55757. An lazy profit of $9,474.02.
Delivery
As owner of Forex Avalanche you get:
- the Forex Avalanche Trading System Manual (11 pages, PDF)
- the Forex Avalanche Expert Advisor (compiled .ex4 file)
- a 14 page PDF installation manual
Installation / License
The one file product is installed by copying the file to the right place. There is no additional activation / registration needed and the EA is not locked to a certain account.
In the manual it is stated: The Forex Avalanche Robot was optimized on the GBPUSD pair and EURUSD pair on the 1 Hour Charts. But the version we got works only on GBPUSD.
How does it work ?
Forex Avalanche enter trades based on Bollinger Bands and Relative Strength Index trading in the direction of a trend. The exit condition of open positions is based on the Bollinger Bands as well.
Settings / Money Management / Broker Requirements
The settings of Forex Avalanche offers an option to limit the time window to enter new trades and to define the trade size either by setting a fixed lotsize or by using a built in money management system. To adapt to 5-digit price quotes there is a parameter called Broker5Digits which needs to be enabled. ECN style brokers which require market orders are not supported.
Conclusion
A nice product which comes with a description of the trading system used which is a good thing. It does not trade often, as we see out of the backtest it will be not more than 1 trade per week in average. The forward test will show how it behaves in actual market conditions.