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EMALGO

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  #1  
Old 29-07-2011, 02:07
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Default EMALGO

Any Experiance with this EA

http://tinyurl.com/EMALGO

Shiva
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  #2  
Old 29-07-2011, 03:07
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EMALGO Looks interesting. Somebody here was asking about a good swing trader ea. Maybe this is it. I think the 50% discount is marketing hype. Also on that note if you have a small account size than the monthly subscription may not be a good option. Having said all that. The stats seem very solid.

10% monthly is very nice for any ea! Imagine if you are running 4 ea's that are all consistantly earning 10% monthly. voila! 2% a day! That is a fantastic portfolio even by George Soros standard.

Here is the link: http://tinyurl.com/EMALGO

1:2 risk reward as a minimum is very very nice especially with a 70% strike rate.

Trading EUR/USD on H1. One thing is for sure EU is a very trendy pair and if this ea is good at hitting homeruns than I think there is potential there.

Looks like its a Plimus product so that is good. The developer offers 30 days money back. I don't know if there are any strings attached though???

Anyway looks decent. I will have to reach out to the developer and see if I can dig us up a test copy :D

Are you running this one or are you just considering it, because if you do buy it I would much appreciate it if you could keep us up to date on the results.
Thanks,
John
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  #3  
Old 29-07-2011, 16:48
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Okay guys/gals EMALGO-MetaPRO Team was gracious enough to give me a review copy to evaluate.

Thank you Emalgo Team!!! I am very excited to set this up. I can't wait till Monday. August may not be the best month to start reviewing an ea but it seems this ea is "adaptive" and so it will be a good test of EMALGO's skills :D

Thank you Skylion for starting this thread. I will post a link later.
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  #4  
Old 30-07-2011, 02:46
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Guys,

Just a word of caution on MetaProForex. I tried their FXCore EA back in April under the 30 days refund guarantee, asked for a refund because it didn't perform and am still waiting! I've asked five times about this but now they won't reply to emails. Not a great way to treat customers.
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  #5  
Old 01-08-2011, 11:43
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Emalgo came alive with her first trade.

EUR/USD long for +8.8 pips. I love when a first trade is a winner!
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  #6  
Old 01-08-2011, 11:48
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In case anyone wants to test with me

http://tinyurl.com/EMALGO
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  #7  
Old 02-08-2011, 14:07
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Emalgo has had 2 trades now and both closed in profit! Each profitable trade was aprox. .5% to the plus side. The net total of both trades is 17.5 pips.

I will certainly keep you guys updated.
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  #8  
Old 02-08-2011, 16:42
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Good news from Metaproforex regarding my previous post. They have explained what happened with the refund from April and offered EMALGO as a direct replacement. Good on them!
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  #9  
Old 04-08-2011, 01:51
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Im glad they sorted it out.

As for Emalgo wow she is on FIRE!!! so far 5 trades 100% accuracy and a cool total of 45.8 pips and 2.12% gain on my account. All since Monday.

Very nice indeed!
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  #10  
Old 04-08-2011, 12:45
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Emalgo just took her first big hit [COLOR="Red"]-140.6[/COLOR] ouch!
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  #11  
Old 04-08-2011, 14:29
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Default Is it worth of buying it?

Love your reviews here.
Wonder if you still think that this EA is worth of buying?
Thanks
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  #12  
Old 04-08-2011, 19:25
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it very well may be worth buying. Only time will tell. S far it shows promise. The really out of wack risk:reward means that this ea can only survive with a very high win rate.

if the average tp is 9 and the average stop loss is -140 than this ea must win 14 times to 1 loser so a very high win rate is critical to the success of this or any ea that has a huge sl compared to tp.

This strategy can work and may turn into one hell of a good ea but only time will tell.
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  #13  
Old 05-08-2011, 12:07
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Hi guys,
I just wanted to update everyone about Emalo, and particularly that nasty stop loss. First off I'm the only one who seemed to even get this trade. I don't know if it was hf's price feed or what but the developer didn't get this trade in any of the 12 accounts they have running.

-more importantly-

I wanted to talk a little about the trade logic of this ea. First off the tp level is not 9 that is actually a breakeven level. Emalgo typically sets take profit levels between 60 and 90 and has an overall win rate of around 70%

I apologize to anyone for my misunderstanding on this issue. Emalgo's logic is very very advanced. Actually it uses an EM algorithm which in a nutshell is a technology more often seen in medical image analysis and image restoration applications. It is definitely not a simple tp of 9 :D

What Emalgo does is takes price information from the m1 and h1 timeframe and crunches a bunch of numbers from different indicators to project what the high and low price would be within the next 6-10 hi candles.

Than Emalgo looks at the projected high and low price and if there is a potential 35-45 pip trade (greater than 70% chance) than Emalgo will enter the trade.

Once Emalgo is in the trade and the projected high or low is hit than it sets a stop loss of +9

So basically what happens is once Emalgo enters a trade than the trade goes into trade management mode where they use a atr and trailing stops to try and milk as many pips out of the trade as possible and if the trade goes against us than Emalgo will try and exit long before a stop loss is hit. In essence they trade by the axiom of let your winners run and cut your losers short.

Apparently these guys have a lot of experience with neural networks and ai technology but none of that was viable in forex. That is why they developed the EM algorithm for forex.

A big thank you to Govi from Emalgo-Metapro team for helping me understand there ea much better :D
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  #14  
Old 05-08-2011, 14:52
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I just checked Emalgo's stats and she is doing well! I have had a total of 9 trades and only 1 questionable loser. Right now the Emalgo team is looking into it because they have not had that trade at all.

so far the tp levels have ranged from 8.7 up to as high as 18.8

What I think happens is when a trade has legs Emalgo is better able to manage it and take a larger profit while simultaneously locking in profit.
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  #15  
Old 07-08-2011, 13:00
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Results so far..

Emalgo 9 trades -56.1 pf 0.35 win rate 87.5% A.win 10.56 A.loss -140.6

This ea has been doing great and the results are misleading. There was a trade that Emalgo took that no other accounts had. It was most likely do to a platform restart.

This ea needs history in order trade properly. I am in communication the developer about this and we are trying to get to the bottom of it. Other than the stop loss this ea is doing really great and we have not seen her full potential at all yet.
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  #16  
Old 07-08-2011, 17:54
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That's excellent news John and thanks for all the info. I will be trying it on my Alpari account this week and let you know how it performs.
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  #17  
Old 07-08-2011, 19:32
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great! Please do I'm glad your testing with me its a good way to gauge overall performance
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  #18  
Old 09-08-2011, 20:59
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Ouch! Another full SL hit on the EURUSD -140 p. Did you have that trade on Hotforex John? Yet again why did it not close the trade early?
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  #19  
Old 10-08-2011, 13:54
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Yea Emalgo hit another full stop loss. Not a good start at all for this ea!
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  #20  
Old 13-08-2011, 12:06
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Wish I'd kept this EA back until the markets were less choppy. Three big losses this week. Had an email from their support on Thursday about reducing risk in a turbulent market but too late in the week.
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  #21  
Old 21-08-2011, 17:49
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I had 3 +10 winners this week. I think this ea may prove to be decent
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  #22  
Old 21-10-2011, 11:31
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Default Re: EMALGO

Waste of Money. Don't buy this ea.
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