Forex Hacked

[rsmereka]

This review is about the EA Forex Hacked. I purchased the version 2.3 from Forex FBI though their affiliate link here (along with a coupon code for 15% off the regular price). I have no affiliation with anyone in conjunction with this review.

The purchase of the Forex Hacked EA is straight-forward enough, there are no annoying upsells. The one complaint I have is that there is an item in the purchase cart called the extended download fee (for $10) which I did not ask for and was not able to remove.

Forex Hacked is one of those EA's which a lot of people don't like because it uses a variation of Martingale money management which I can best describe as hedged Martingale. Here is a discussion of hedged Martingale at Forex Factory (check out the MT4 script in post #39)

Since Forex Hacked uses hedging, the EA will not work with an NFA broker .

I setup this EA on a GoMarkets demo account at 500:1 leverage with a $5K opening balance. The EA will work with many currency pairs. I decided to run it on the pair with the most volitality, GBPUSD. I originally wanted to run the EA with two pairs but soon discovered that $5K will only buy you a 0.01 (one micro) opening lot size. This means that if you want to put this EA (with the settings I have here), you will need at least 5K to and a broker which will give you one micro to start or 500.00 to start and a nano account (0.01 is one cent per pip).

The settings I am using are attached. I would rate these settings as aggressive to the point of being almost suicidal. Indeed, many backtests I ran blew up the account until I realized that the opening lot size must be 0.01.

This EA has no MM. Fixed lot only.

Update 2011-05-24

Since my GoMarkets demo has been disabled, the link below now points to my Alpari UK demo account.
Link: http://www.myfxbook.com/members/rsmereka/forex-hacked-alpari-uk/107706


Update 2011-10-04

I added a second demo account with the broker FXPrimus.

Update 2011-10-09

Added two DWRR (see this post if you don't know what DWRR means) demo accounts
DWRR Test 1
DWRR Test 2

Update 2011-10-22

I have added the ForexHackedMath.zip file. See my post here for details.

Update 2011-10-16

I posted a new version of ForexHackMath.zip. See my post here for details.

Update 2011-10-28

I posted a new version of ForexHackedMatch. See my post here for details.

I killed all 3 Forex Hacked FXPrimus accounts as per my post here.

I created 3 more demo FXPrimus account as per my post here.

Update 2011-12-02

I killed the fixed spread and Ecn FXPrimus demo accounts.

I added the two trade copier accounts as per my post here.

I added another Alpari UK demo account as per my post here.

Account links:
Link: http://www.myfxbook.com/members/rsmereka/forex-hacked-variable-spread/183904


Link: http://www.myfxbook.com/members/rsmereka/forex-hacked-c1/201304


Link: http://www.myfxbook.com/members/rsmereka/forex-hacked-c2/201270


Link: http://www.myfxbook.com/members/rsmereka/forex-hackedc/218967



Update 2011-12-22

Replaced ForexHackedMath.zip with a version that contains a new graphical version. The zip contains four applications: two built with Delphi 7 and two built with Lazarus. The two applications for each compiler are the console (command line) version and the graphical (gui) version.

Update 2012-01-26

Removed the HackToDeath test account and added a link to my live/real money GoMarkets account.

Rick

[bayon]

hello rick

I ve been following this bot forums for a while and the results are impreesive.
it will trade many times a day we have to be very carefull about the money management ....
I find the system very exciting let s see where we are lead to here..

regards

[rsmereka]

I agree,

The style of Martingale that uses hedging looks very interesting. My broker is going to be very happy with all those trades

I am interested to see if this EA can be used longer term safely. I guess time will tell.

Rick

[rsmereka]

Reference
Link: http://www.myfxbook.com/members/rsmereka/forex-hacked-alpari-uk/107706


Rick

[bayon]

hi rick

FH is doing well as we can see...do you know Hot Forex.? this broker gives you a 30% bonus on all deposit.

[rsmereka]

Hi bayon,

Forex Hacked is doing well on both demo accounts. I cannot believe the ROI difference between the two accounts. I suspect that the Alpari UK demo account feed is being sweetened to give almost double the ROI of GoMarkets.

I have heard of Hot Forex but have no experience with them. In my research, the reviews at FPA are quite favorable overall. Definately a broker to watch. IMHO, rebates do not attract customers to a broker same as 0% finance blah blah does not attract customers to cars although most companies have not learned this lesson.

Rick

[bayon]

hello Rick

FH is doing really well on your accounts..!! when do you get a try on live.?
I will run FH as soon as my new account will be activated conservative lot size .01 with the (educated 2.0 version)
will keep you posted

[rsmereka]

Reference

Rick

[rsmereka]

Originally Posted by bayon

hello Rick

FH is doing really well on your accounts..!! when do you get a try on live.?
I will run FH as soon as my new account will be activated conservative lot size .01 with the (educated 2.0 version)
will keep you posted

FH is a pretty dangerous EA and I want to have lots of experience with it before going live.

Also, the only account I could run FH (due to needing micro lots) now is my GoMarkets account and it is running Genial Invest at the moment.

Rick

[bayon]

hello Rick

I've been running FH on a live account since monday and no trades at all..2 pairs gbusd-usdjpy...FH is set correctly.
any idea.?
many thanks