Forex Empire S.B.
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| Forex Empire S.B. | Click Here! | EURUSD | H1 / M15 | 500 | 200 | no | manual |
Forward Test (Demo)
Status: running
Last update: 2010 March 12, 23:00 (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 Empire S.B. | Statement | -1 | -0% | 0 | 50% | -8 / -8 | -8 | 0 | -1% | 1% | 7 |
Backtest
| EA Name | Statement | Period | Pair | Closed P/L [Pips] | Open P/L [Pips] | Trades | Winning Trades | Max/Min [Pips] | Max. DD [%] | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| Forex Empire S.B. | Statement | 2008 | EURUSD | 1233 | 0 | 21 | 57% | 456 / -146 | 24% | |
| Forex Empire S.B. | Statement | 2007 | EURUSD | -20 | 0 | 21 | 43% | 172 / -129 | 20% | |
| Forex Empire S.B. | Statement | 2006 | EURUSD | -185 | 0 | 20 | 25% | 191 / -110 | 31% | |
Homepage / Vendor
The homepage for Forex Empire does not contain real information about the vendor. But let’s analyze the stuff which is there. Let’s start with the first Chart which contains a sample trade on USDCHF on the H4 timeframe.
Then let’s scroll a bit down and we will find the following:
The EA works with all currency pairs. on 15 Minutes chart. best results generated by using EUR/USD.
There are no proof shown in terms of backtest or forwardtest statements just some charts showing sample trades in most cases not even from the mentioned pair / timeframe.
Delivery
As owner for Forex Empire you get:
- the Forex Empire Expert Advisor (compiled .ex4 file)
- a 6 page PDF user manual
- a 22 page pdf manual trading system documentation
The indicators mentioned in the manual trading document are not part of the delivery.
There is an upsell for a platinum version. You will get a BonusEA (trading on cross ov moving averages) and a Platinum System PDF which describes another manual trading system and comes together with 2 custom indicators.
Installation / License
The installation of this 1 file product is simple and well documented. The robot comes with unlimited license.
How does it work ?
Forex Empire opens one trade at a time based on a combination of indicators to enter trades: Moving Average, RSI, Stochastic, ADX, OSMA and Momentum. To exit the trade a fixed takeprofit / stoploss, a trailing stop and some internal indicator based logic is used.
Settings / Money Management / Broker Requirements
Forex Empire has a couple of settings which mainly allow to define the trade exit parameters and the risk to be take. There is an automated money management available which is turned off by default. To trade on brokers with 5-digit price quotes some parameters needs to be manually multiplied with 10 which is described in the instruction manual. ECN style brokers which require market orders are not supported.
Conclusion
As mentioned in the first section the product is inconsistent. There are no proofs for it’s profitability and the sample trades do not match the recommended setup.