review::Steinitz HAS MTF EA
name of Expert Advisor : Steinitz HAS MTF
current tested version : v2.31
start date : 26th Aug 2007
current settings : ** too many to list out **
pairs traded : GBPUSD, H1 on InterbankFX
manual intervention : Nil. EA has been running without any downtime nor intervention.
performance :
- Aug 2007 : no trades
- Sept 2007 : +239 pips
- Oct 2007 : +232 pips (so far…)
Live statement (updated every 10 mins) :
http://www.ckowyong.com/blog/statements/steinitz/statement.htm
********************
Note : this is an EA filled with many good indicators. when optimised with the
correct settings, i believe that this EA has a lot of potential. however, i also
believe that the many configurable components of the EA has made it very difficult
to optimise.
if you wish to obtain the setting file that i’m using for my test, please
join my mailing list (http://ckowyong.com/blog/?page_id=31) and drop me an email
to request for it. i’m sorry that i can only do it this way due to reasons which i
will reveal when i send you the setting file. i assure you it’s all out of
good intent. i will also send you the chart with all the trades plotted in
to give you an idea of how each trade went with respect to it’s potential profit and losses.
********************
testing history :
26 aug 2007 : demo with v2.31 started. no trades until 10 sept 2007
26 oct 2007 : this EA has been left on 100% auto-pilot.
30 nov 2007 : the trade that was entered on 9 nov 2007 is still open. it’s is now down -573 pips… and has taken away about 75% of the profits. at it’s worst, the trade was -614 pips. overall, the demo account is still positive. the stop-loss is definitely a concern with this Expert Advisor. it’s said that there’s a floating stop… but if it hasn’t kicked in when the trade was down -614 pips, it makes one wonder when it will ever kick in. i believe this forward-test has served it’s purpose, so i’ve archived it here : http://www.ckowyong.com/blog/statements/steinitz/30_nov_2007
1 dec 2007 : Steinitz HAS MTF v2.63 … on 27 nov 2007, Don Steinitz sent me the latest version of the Expert Advisor, together with a setting file which he recommends me to test it with. he explained that this version has been improved on quite a bit… however, i am still not very clear how the stop loss is implemented. there’s a setting called StopLoss Method = UseInput… however, i can’t seem to find any clear indication of where the stops are.
as of 1 dec 2007, the forward-test of Steinitz is running version 2.63. let’s hope this version manages the stops better then the v2.31.
————————————————————–
opinion :
[31 oct 2007] :: the Steinitz HAS MTF is an amazing Expert Advisor that’s filled with many good indicators and logic. if you had been reading the thread about this Expert Advisor at Forex-TSD, you will know that there has been some debate about the EA and it’s creator. i’m keeping neutral for now and do not wish to comment without any facts.
this forward-test statement of my demo with Steinitz HAS MTF may look impressive, but i feel that we MUST look beyond the statement to really tell what was going on. i’ve spent a good 4 hours plotting each trade onto the GBPUSD H1 chart to show you what was going on. (see chart ->
)
please note that this EA is highly configurable, and my results has been based on a random selection of settings that i thought made sense. the statement and the chart presented here is not indicative of the quality or profitability of the Expert Advisor… and i strongly advise those who have bought it to fully test it for at least 2 months and plot down every trade onto the chart to analyse them. for those who have not bought it, just keep an eye on the Forex-TSD thread and see where it’s heading.
it’s critical that you understand the Expert Advisor’s risks and rewards before you trade LIVE with it.
[1 nov 2007 - update] :: to be fair to Steinitz, it’s been reported in the forums that there are quite a number of people who thinks very highly of this Expert Advisor. some have even stated that their forward-tests and LIVE accounts have been profitable using it. i wouldn’t call my forward-test, which has gained more than +200 pips a month, a success… since there have been situations where the potential drawdowns reached unacceptable levels. i would blame it on my poor optimisation of the settings… something that is certainly not easy to do with the Steinitz HAS MTF Expert Advisor.
*peace*
buy ck a coffee :O)
