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-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.
Update 2012-04-19
At the request of
johnm, I have posted all three set files I use in daily production:
Hacked.set - is used on the demo master/sender Alpari UK account in a GBPUSD H1 chart running Forex Hacked 2.3
Hacked-sender.set - is also used on the demo master/sender Alpari UK account attached to it's own GBPUSD H1 chart running the
MT4i Personal Trade Copier (sender)
Hacked-receiver.set - is used on my live/real money slave/receiver GoMarkets accoun in a GBPUSD H1 chart running the MT4i Personal Trade Copier (receiver)
In the following discussion master and sender mean the same thing. This is the account that sends trading signals. Also, in the following discussion, slave and receiver mean the same thing. This the account that receives the trading signals from the sender.
MT4i calls the units sender and receiver whereas must of us refer to trade copying as master and slave. The MT4i Personal Copier will only work locally, that is, when both the sender and receiver are on the same computer. The MT4i Personal Copier consists of three modules. The sender EA, the receiver EA and the communication dll (MT4iQuickChannel.dll). On the sender, copy the sender EA to the 'experts' folder and the communication dll into the 'experts\libraries' folder. On the receiver, copy the receiver EA into the 'experts' folder and the communication dll into the 'experts\libraries' folder.
Start first by setting up Forex Hacked on the sender account same as normal FH trading and load your (or my) set file. Then add a GBPUSD H1 chart and add the sender EA and load the sender set file. About the only thing you may need to change in the sender settings is the 'Channel' name. This name must be unique.
Let me pause here for a moment to say that the MT4i Personal Copier needs one sender for each receiver. You cannot send to multiple receivers. Each sender instance needs a unique 'Channel' name. This name must match on both the sender and receiver. For example, not too long ago, I had three receivers. So, I needed three sender EA's, each in their own chart and each sender with a different 'Channel' name.
The settings on the receiver that need to be changed are the 'Channel' name as discussed above, the 'LotSizeMultipler' which is the ratio of the receiver lot size when compared to the sender. For example, as I write this, I want the sender to have a starting lot of 0.09 and the receiver to have a starting lot of 0.03. If you divide 3 by 9, you get 0.333 which is what the 'LotSizeMultipler' is set at as shipped. You don't have to use the lot size multipler, you can use other methods with this copier but lot size multiplication is the most accurate. The other thing that may need to be changed on the receiver is whether to 'TradeAllOrdersAtMarket'. As shipped, this is set to true. This means that orders will be opened right away instead of matching the same price. I have tested both methods over months of testing and 'at market' is the better of the two.
There will be a difference in the return of the live/real money receiver account verses the demo sender account. This happens because: a) brokers make the demo account very attractive, 2) the price feeds are different and 3) if you are like me, you will be using two entirely different brokers.
Update 2012-07-23
Added two demo accounts running Forex Hacked 2.5
Update 2012-09-23
- Removed FH 2.5 demo accounts.
- Added a new version of Forex Hacked Math which displays the lot size at every level. This version is built using Delphi 7 only. License GPL V2 as usual.
Rick
Be smart! Read the 
Forex Hacked 
Linear Mode
