Discuss ForexTransporter.com

[Administrator]

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[forex-tester]

The Forex Transporter EA is made by the "Next generation fx trading" company which released such EAs like forex knight rider, forex godfather, jaggernaut etc. All these EAs use the same marketing ideas: cherry picked trading screenshots, no live trading results, no complete backtest.

Here is what people say on forum about it: "Right, these guys are so busy putting new EA's on the market that they totally abandoned open issues with their previous GodFather." One more note: "This one doesn't seem to be a martingale in the traditional sense - ie increasing lot sizes to overcome a loss or losing position. This seems to simply place another trade in the same direction when there is a losing position, and aim for a larger TP. Then all these trades close together with a positive balance."

The Forex Transporter EA works on EURUSD pair and uses so called "automatic profit equalizer" which means it increases the lot sizes like in martingale strategy. You need a reasonable balance to trade it because it can get into large drawdown.

For example in my forward test it made 125.0 usd of profit trading 0.3 lot on 5000 usd account with a floating loss of -4 009 (!!!) So be careful, guys!

 

[innit]

just my opinion

I agree with my predecessor. I bought it and now regret it. I back-tested it on EURUSD H1 for 2009 and the results were impressive... but my curiosity went on and I also back-tested it from years 2007 and '08 and the result is that I would got stuck to one transaction that till this day would be loosing approximately $2000 playing on micro (0.01) lots. This is rather a simple EA so backtest is quite reliable.
Other conclusions are: going only short (ignoring all the long positions) this EA would not get stuck, max. draw-down was $1374 or something like that (micro lots) but it was profitable after all. I personally would not stand psychologically such draw-down with no hope of getting better. But since we are apparently having now a downtrend, going only short is temporarily a good idea. Another thing is that you may increase the TP level to ~40 while 60 is far too much. To have more frequent signals you may change the timeframe to M30 or M15 or even less. These are my suggestions if you have already bought it, if you have not - do not.
Regards.

 

[VirginFX]

Transport your equity down the drain

The Transporter EA consistently lost money for me. I got refund.