FxBrokerBuster
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| Fx Broker Buster | Click Here! | EURUSD | M5 | 37 | 106 | yes | automatic |
Forward Test (Demo)
Status: stopped (qualified for live trading)
Last update: 2009 December 9, 15:23 (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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Fx Broker Buster | Statement | 31 | 3% | 3 | 50% | 133 / -92 | 311 | 0 | 31% | 29% | 10 |
Backtest
| EA Name | Statement | Period | Pair | Closed P/L [Pips] | Open P/L [Pips] | Trades | Winning Trades | Max/Min [Pips] | Max. DD [%] | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| Fx Broker Buster | Statement | 2008 | EURUSD | -2027 | 0 | 189 | 38% | 132 / -93 | 92% | |
| Fx Broker Buster | Statement | 2007 | EURUSD | -1040 | 0 | 96 | 42% | 132 / -93 | 68% | |
| Fx Broker Buster | Statement | 2006 | EURUSD | 1106 | 95 | 96 | 54% | 132 / -93 | 19% | |
Homepage / Vendor
Turning $3000 in to 1 million in 2009 are the high claims which dominate the homepage of Fx Broker Buster. The page contains marketing content and something they call “Real Time Trading Report”. It looks more like a rearranged backtest result.
Here an excerpt from what the developer of the system writes: The FXBROKERBUSTER system was born after months of extensive development to ensure robot robustness in all markets. The system has been tested right back to 2000 and has ensured sucess in every type of market condition. The methodology behind the system is confidental, but when trading wih FXBROKERBUSTER you can rest assured it will be only system you will ever need for years to come.
Martin Bloomington
Delivery
As owner of FxBrokerBuster you get:
- the FxBrokerBuster Expert Advisor (compiled .ex4)
- a 8 page PDF user guide
License
FxBrokerBuster comes with unlimited license.
Installation
As this robot consists of a single file the installation is simple and the documentation is sufficient.
How does it work ?
This robot enters one trade at a time based on fractals and some filtering. The default takeprofit is higher than the stoploss which is a good thing. Another good thing is that it has some enhanced logic to exit a trade. It closes a trade based on internal indicators as well if neither takeprofit or stoploss are reached but the market condition does not fit its expectation any more.
Settings
The settings allow to define the the take profit and stoploss values, the magic number, the risk to be taken and to enable / disable the additional exit criteria.
Money Management
The money management is done in a bit a difficult way for a newcomer. There is a parameter calles risk.
They recommend a seeting of 0.2 for low risk, 0.5 for mid risk, 1.0 for high risk and 2.0 for aggressive risk.
This means a leverage between 2:1 and 20:1 as the EA opens 1 lot per 10k at a settings of 1. What does this mean in terms of percentage of the account at risk ? We need to consider the SL level of 90 pips.
This gives the following result for the different risk settings:
- 0.2 = low risk = 1.8%
- 0.5 = mid risk = 4.5%
- 1.0 = high risk = 9%
- 2.0 = aggressiv risk = 18%
Looking at this numbers the determination of the settings is done serious.
Conclusion
The documentation is good and serious. The claims on the homepage are high but we have been able to reproduce close results in our own tests. Here the equity curve for 2009:
As they clearly state in the manual Please note this EA is optimized on 2009 data. We will send changes occasionally to clients as market dictates. This explains clearly why our backtest results for the past year have not been as good. Like with all high optimized products the question may be how long will it work with the settings and will the vendor be able to provide new optimizations before it looses to much.
Update
There is a new version of FxBrokerBuster available which uses updated settings, automatically adapts to 4-/5-digit price quotes and support ECN-Style brokers.
The truth behind FxBrokerBuster
In August 2009 an EA called FxBroker Buster has been released to the public. It was trading EURUSD on the M15 timeframe. It’s trading logic was based on Fractals and RSI running with a takeprofit of 135 pips and a stoploss of 90. This EA was the one we used when running our backtests and when we started the forward testing.
Here the backtest for 2009 running this EA:
Beginning of November an Upgrade has been release called FxBrokerBuster V1.0. Maybe we should have been curious already about the version number but we didn’t. This new version has been announced to be much more enhanced and to support ECN brokers. With this release it changed the timeframe to trade on to M5 and takeprofit to 37, stoploss to 106.
Let’s have a look at the backtest for 2009 done with FxBrokerBuster V1.0:
What happened ?
First it really looks like a big step forward but what is the truth behind ? It’s a completely different expert advisor. FxBrokerBuster V1.0 has a completely different trading logic. It trades only during a specific time and is based on Price Channels and Moving average.
In fact it seems to be a copy of the Donchian MA Scalper from the Elite section of funyoo’s tradingsystemforex forum.
Here the backtest result done with the original Donchian MA Scalper:
We negotiated with funyoo and are happy that we can provide our silver- / gold-members the Donchian MA Scalper for free.