Forex Photon - Pip Cop

**rsmereka** · 2010-07-08, 01:21 PM

This review is about the EA Forex Photon. I have no affiliation
with anyone in conjunction with this review. I purchased Forex Photon directly from their website. I have set up a dedicated Alpari UK demo account (500:1 leverage

) on my VPS and I am publishing the account data on MyFXBook.
Link: http://www.myfxbook.com/members/rsmereka/forex-photon/39585

I started running version 1.17 of Forex Photon but have since upgraded to version 1.17a using all the default settings. The only thing I have changed is the account number, the serial number and the magic. Normal defaults are: Aggressive=True, Risk=10. There are a pile of other parameters, but I have ignored them. There is an indication on the message forum (you need to be registered to read anything) that my settings in the running EA can and will be modified by the Forex Photon staff. This is how the new (in version 1.17) news avoidance feature works (the EA is prevented from trading when there is a major news event or a bank holiday).

Forex Photon is a scalper that trades 7 pairs: EURUSD, USDCAD, USDCHF, GBPUSD, EURJPY, EURGBP, and EURCHF on M5 charts. The last two pairs are new to version 1.17.

I know nothing about the strategy that Forex Photon uses to enter and exit trades although I think the EA uses a fixed TP

.

Rick

dennerle · 2010-07-14, 11:02 AM

Quote:

Originally Posted by rsmereka

This review is about the EA Forex Photon. I have no affiliation
with anyone in conjunction with this review. I purchased Forex Photon directly from their website. I have set up a dedicated Alpari UK demo account (500:1 leverage

) on my VPS and I am publishing the account data on MyFXBook here.

I am currently running version 1.17 of Forex Photon using all the default settings. The only thing I have changed is the account number, the serial number and the magic. Normal defaults are: Aggressive=True, Risk=10. There are a pile of other parameters, but I have ignored them. There is an indication on the message forum (you need to be registered to read anything) that my settings in the running EA can and will be modified by the Forex Photon staff. This is how the new (in version 1.17) news avoidance feature works (the EA is prevented from trading when there is a major news event or a bank holiday).

Forex Photon is a scalper that trades 7 pairs: EURUSD, USDCAD, USDCHF, GBPUSD, EURJPY, EURGBP, and EURCHF on M5 charts. The last two pairs are new to version 1.17.

I know nothing about the strategy that Forex Photon uses to enter and exit trades although I think the EA uses a fixed TP

.

Rick

version 1.17a coming out soon

**rsmereka** · 2010-07-14, 11:19 AM

Yup,

1.17a is mostly a bug fix. They really messed up the GMT time detection in 1.17 and that is what 1.17a is mostly about. I recognized the issue with the GMT time detection right away and set the offset manually. This is not the first time that an EA developer has had problems with the GMT time detection. If memory serves right, MegaDroid had the same issue a couple of months after it came out.

With seven (7) charts running, it's going to be a pain to change versions.

I had two large USDCHF losses last night. It wiped out almost half of the accumulated profit.

Rick

dennerle · 2010-07-14, 11:36 AM

Quote:

Originally Posted by rsmereka

Yup,

1.17a is mostly a bug fix. They really messed up the GMT time detection in 1.17 and that is what 1.17a is mostly about. I recognized the issue with the GMT time detection right away and set the offset manually. This is not the first time that an EA developer has had problems with the GMT time detection. If memory serves right, MegaDroid had the same issue a couple of months after it came out.

With seven (7) charts running, it's going to be a pain to change versions.

I had two large USDCHF losses last night. It wiped out almost half of the accumulated profit.

Rick

same for my USDCHF losses

Have you tried setting your start and end hours to '0'?? Trading 24/7

You will find more bugs as i realized that it open more than its "max trade" when aggressive is on...

And....the 7 currency

pairs tend to open new trades at the same time even though trading 24/7...

then it went into long hours of inactive and then all 7 pairs start to trade tgt again...

something is not right..

**rsmereka** · 2010-07-14, 01:01 PM

Quote:

Originally Posted by dennerle

same for my USDCHF losses

Have you tried setting your start and end hours to '0'?? Trading 24/7

You will find more bugs as i realized that it open more than its "max trade" when aggressive is on...

And....the 7 currency

pairs tend to open new trades at the same time even though trading 24/7...

then it went into long hours of inactive and then all 7 pairs start to trade tgt again...

something is not right..

I have not tried to change the trading time. I would not do that. The trading window is very important to a scalper. All of Photon pairs have a trading window of 23-01 GMT so, yes, they all start up at the same time.

I have all of the default settings including 'aggressive' being turned on so if there is a bug with 'MaxTrades' when 'aggressive' is on, I will encounter it sooner or later.

Rick

**rsmereka** · 2010-07-18, 03:50 PM

I posted a message on the Forex Photon message board (you need to be registered to read) after noticing the (new in 1.17) EURCHF pair was not allowing trades. It was showing a message indicating a news event or bank holiday. This went on for days before I posted the message.

The site admin responded by saying that it was not a bug. The staff has disallowed trading of the EURCHF pair because it's recent performance.

Rick

**rsmereka** · 2010-07-21, 09:31 AM

I just upgraded Forex Photon on my demo account from 1.17 to 1.17a. Settings are unchanged except for auto GMT which I put back to true and the automatic time zone detection seems to be working correctly now.

In the first 10 trading days, Forex Photon on my demo account has accumulated more than 20% return. This is a really good result so far. I am going to keep a close eye on it and see how it produces in the longer term (read months).

Rick

gross77777 · 2010-07-22, 06:37 AM

Looking good so far.What risk setting are you running with this ea ?

Thanks

**rsmereka** · 2010-07-22, 10:03 AM

Quote:

Originally Posted by gross77777

Looking good so far.What risk setting are you running with this ea ?

Thanks

Everything default (risk 10) per post #1. Only items changed are the magic and serial.

Last night was a big night for Forex Photon. Almost a 10% increase in one day. I have an itchy trigger finger. I am chomping at the bit to get this on my live account but I have been burnt many times before by EA's that come out of the gate very strong but turn quickly into losers when the market changes.

Rick

**rsmereka** · 2010-07-30, 08:45 PM

In it's first (incomplete, 17 trading days) month, Forex Photon did a top rate

job. 38.82% from 111 trades, 81 wins for a 73% hit rate

all the while having just 4.55% drawdown

.

There is a number of things to like in this EA. Please follow along with the attached detailed statement.

-gross profit is greater than gross loss
-largest loss only larger than largest win by $10
-average win larger than average loss
-maximum win way larger than maximum loss
-consecutive wins at 7 and losses at 3

If this keeps up, I'll have a hard time containing myself

Rick