Hi,

Today probably the best EA was released, I am referring to Forex Crescendo. I have followed the promotion and launch of this incredible EA since the beginning and in a nutshell what I can say is -

This was the most honest and transparent launch in History

Let me tell you why:

1) The developer is a trader himself

The developer of the EA is Andrea Salvatore who has a reputation to defend.  He is a developer and a trader.   So this EA unlike most of the other EAs in the market is coming from  a trader who UNDERSTANDS the concept and importance of Money Management.  This is why most EAs fail.

2) Webinars

Two webinars were organised where all questions by the attendees have been answered by Andrea, including my dirty question.  Find more details here – Forex Crescendo Review

3) Andrea is proud with his EA

Hearing Andrea talking during the webinars, you can feel that first he is an honest guy, and more importantly you can feel that Andrea is proud with his work – with his profitable EA.

Why Forex Crescendo is different?

Now let’s explain why Forex Crescendo is different from the rest

1) Forex Crescendo is based on an accurate language – Mathematics

This approach is new in EAs development and Forex Crescendo is based on complex mathematical patterns.  Andrea is a mathematician himself.

2) Forward Testing

The EA has been going through Forward Testing since February 2010.  As you may know, back testing means nothing.  Forward testing in a live account is the best proof that the EA is profitable and that it works.

3) Results published are Honest

Their is a live account with all the trades taken by the EA since February 2010.  The statement last update was this morning.

4) Forex Crescendo tackles the weaknesses of most EAs

Since as I said, Andrea is a developer himself and a trader, all the weaknesses found in most EAs are tackled and sorted in Forex Crescendo.  This includes money management, trade management, trades during he peak ours and not after hours where liquidity is low and loads of other issues.

I can keep on going since there are endless reasons why this EA should be profitable.

Profits in the Forward Testing – Live Account

• Gained over $10,000.00. The account started with $7,958.70 and it now stands at $18,490.60.
• Gained 132.33% in a record 8 months.
• The average monthly gain for the last 8 months has been 16.86% per month.
• The closed trades draw down has been 5.31%.
• There has been no single losing month.
• There has been no single losing week.
• There has only been one losing day out of more than 160 days of trading (that loss was $14.27) as compared to the best day in which it gained $220.89.
• The profit factor is an average of 2.53 times the loss.
• 77.25% of it’s trades are profitable – 275 out of 556.
• Made A Staggering 9999 PIPS So Far

No need of explanations. The figures speak by themselves.

Forex Crescendo Review

So, as soon as I finish this post, I am going to buy and trial Forex Crescendo.  I have a new website specifically on this EA where I will be publishing my test results and loads of other information.  Follow this link – Forex Crescendo Review to keep yourself updated on this EA.

I have huge genuine bonuses if you buy the EA from my sites, so follow this link since probably this is the best EA ever released to the public.

Hi, Since my last update, I only traded the Morning Trade System twice for the simple reason that I got quite busy with at work and I couldn’t manage to wake up early. Well I lost couple of trades even with my other trading systems.

With my two trades, one trade finished break even and the other I closed the trade at 30 pips profits. Basically I closed the trade at a very strong resistance point (R2 Pivot Point) and that was my target when I opened the trade. The system suggest 40 pip profit, but there is no perfect system – do not search for it. For any system you must use other technical analysis techniques in between.

Pivots are well respected strong resistance / support lines so my exists are always at these levels – always. So when I opened the trade I knew that I was targeting for 30 pips instead of 40. Believe it or not, the price hit the S2 line and bounced back pretty fast. This is why I love pivots!

Anyway back to Forex Morning Trade. I did manual back testing since January 11th 2010 and here are the astounding results. I did not checked pivot points here. I just followed the system blindly – meaning obeying the rules with 40 pips profit target, 40 pips stop loss as suggested. I did not even took care of any major news releases which as you should know you need to stay out of the market.

If probably I have followed pivot levels and at least you where aware of any major news releases, probably I would have increased the profit, but I just followed the system rules to the letter like a complete newbie. However I did added a rule and it saved me some pips. When I am 30 pip profit I move my stop loss to break even. There were many trades that reach the 30-35 mark, run out of fuel and rally back. There are also trades that reached the 30 pip mark, reversed, I got stopped out at break even and then shoot up.

But moving the stop loss to break even when you reach 28 – 30 pips, is more safe and proved to save me some
pips. Later I will also tell you how I intend to trade the system live.

Results by following the system rules blindly with the exception that I move the stop loss to break even at 30 pip profit.

January from 11th 2010: 120 pips
February: 160
March: 280
April: 120
May: 80
June: 440
July: 160
August: 240

Total Pips: 1600 – AWESOME

The results where in no way manipulated. If I remember correctly but I stand to be corrected, April / May was when Europe was under spotlight with Greece serious financial crises. The system still came out in profit!

As you can see it is an awesome simple system with good results. Just try it since you have nothing to lose but gain $$$ instead.

How I intend to trade the system.
1) Follow system rules for entry
2) Open two trades of lets say 0.5 and 0.5 each or 1 lot if your broker supports scaling out – the lot size depends on your money management. Do not risk more than 2% per trade!
3) At 30 pips profit,
a. Close 1 trade at 30 pip profit or scale out half of your position if your broken supports scaling
b. For the remaining trade or the remaining half of the trade, move stop loss to breakeven
c. Also set a trailing stop of 35 pips on the the remaining trade or the remaining half of the trade

For point (3c) either use trailing stop or use pivot levels for your exist. This depends on your personal choice and your trading experience.

Some tips that may help you.
If the price is at S3 or R3 or near any of these pivot levels, do not use trailing stops but just close the whole trade at 30 pip profit or at S3 or R3 levels. The probability is that the price will reverse at S3 or R3 so you will lose your profit.

Do not just aim for 30 – 40 pips blindly although the system is profitable just the same. But I am sure that using some technical analysis knowledge you will increase the profit. So always stay on the look out for strong resistance / support lines like the daily trend lines, pivot points or anything you are familiar with.

Again do not enter a trade if you are close to strong resistance / support points. You know that price may reverse at these levels and this is a known fact in forex trading. It is the law so to speak that you do not enter a trade when a strong resistance / support is near. No trading system is above this law, so just stay out of the trade or instead take the reversal!

Also do not trade when major news releases that will affect the currency pair you are trading are due to be released that day or even at the time you are trading the system! Just remain asleep, it is not worth the risk.

HAPPY TRADING. Feel free to leave a comment if you need any help.