Forex Godfather
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| Forex Godfather | Click Here! | GBPUSD | H1 | 200 | 141 | yes | automatic |
Forward Test (Demo)
Status: stopped (qualified for LIVE-Trading)
Last update: 2010 January 8, 22:59 (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 Godfather | Statement | 21 | 2% | 1 | 56% | 200 / -143 | 158 | 0 | 16% | 24% | 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 Godfather | Statement | 2008 | GBPUSD | 1665 | 0 | 31 | 61% | 200 / -141 | 25% | |
| Forex Godfather | Statement | 2007 | GBPUSD | 1693 | 0 | 39 | 67% | 200 / -141 | 23% | |
| Forex Godfather | Statement | 2006 | GBPUSD | 1758 | 34 | 45 | 56% | 200 / -141 | 16% | |
Homepage / Vendor
The homepage of forex godfather starts with a equity curve of a claimed 5 year backtest. Later on the page a 5 year backtest summary is shown. Unfortunately detailed statements or trade logs are missing as well as any information about the peoples behind Forex Godfather.
Delivery
As owner of Forex Godfather you get:
- the Forex Godfather Expert Advisor (1 compiled .ex4 file + 1 .ex4 custom indicator)
- a 21 page PDF installation guide
Installation / License
The installation is simple and well documented. Forex Godfather comes with unlimited license.
How does it work ?
Forex Godfather opens trade based on Moving Averages and a Custom Indicator which is Volume based. To close positions an fixed takeprofit / stoploss and some additional criterias are used.
Settings / Broker Requirements / Money Management
The settings of Forex Godfather allows to adapt it to 4- / 5-Digit pricequotes and to define the position sizing. By default it uses a fixed lotsize but offers an optional money management function. This robot does not work on ECN style brokers which require market orders.
Conclusion
Forex Godfather shows nice results in backtest and comes with good documentation. As it uses volume data the results may be different depending on the broker used. Let’s see what the forward test will show us.
Update
After an upgrade to Elite you can get the new version 2.0. This version automatically adapts to 4-/5-digit price quotes, is ECN compatible and allows to modifiy more parameters like takeprofit and stoploss.