Member Recommendations!! Post Your "Wish List" Here!!

[pharoh777]

Hi All!!!

I just realized I didn't have a thread that let's everyone post THEIR ideas of what the new EAs we should check out should be!! Sorry!!!

Please use this thread to make a recommendation for ANY EA that you may think should be tested or seems interesting BEFORE you go out and spend $$$ on it!! We can usually figure out using my methods whether a system should even be tested. We will take the steps to see the quality and if it passes, we can do some testing with it here long before anyone ever has to risk their own capital.

I want everyone to be able to use this forum as their own personal testing ground, with yours truly as guide and host. That way we can test things in the open first, and if it's good, we can all get it and make some serious $$$.

And remember I am not affiliated with ANY product so we can test ANYTHING!! Again, I wanted to give people access to another honest trader who is willing to share real experiences in a structured format without all the chaos or deception usually associated with forums and "independent" test sites!!

FIRE AWAY!!!

[raa]

Hey Omar. Here is a point from my "wish list":
Harmonic Auto Trader - Trading Harmonic Patterns Automatically

From what I heard this is a high level professional (hey MT4 professional?) solution, that they are using to trade multi-million dollar fund, and they created a retail version of it for MT4. I would try myself, but they do no refunds and their subscription price is very high (circa 350 usd monthly) to just dive into it no matter what. Mind you if it is as good as people are saying (although there is very little publicity around it, mostly only in pattern-trading elemental-trading community) it may worth every penny (I used to pay 300 usd per month for my news trading feed, 200 usd per month for a couple of robust servers, etc and it was totally worth it).

This EA is based on harmonic pattern trading, from M5 to H4 signals, incorporates news filter to stay away from the news, and some interesting perks. So if Forex-FxTrader could manage to run it even for a demo a couple of month - that would be just awesome.

[pharoh777]

I am ALL OVER IT Raa!!! I shall email them and finger's crossed they are good vendors and interested in displaying their product to an excellent, educated group of traders. I will let everyone know what happens and if they agree to let us play with it I shall start a folder under "due diligence".

THANK YOU RAA!!!! Great Reco!!!

[pharoh777]

As promised, I have initiated contact with the vendor for Harmonic Auto Trader. Finger's crossed they will let us have at their product and put it to the test. At $300/month it seems awfully expensive to just jump into.

[raa]

350 and you have to pay upfront minimum for 6 month, so must fork out 2k usd. It's better be outstanding!

[munnyman]

You would have to make really serious $$ to justify that one Omar. I will be interested in the outcome of your testing
John

[pharoh777]

Hi Guys!!! I am kind of confused by the response from the vendor. Wow, are these guys proud of their product!! They are too good to share it with most traders I guess and certainly I am too much of cretin to share it with!! Here is the email response I got. I'll let you decide what to think.

"Hello Omar,

Thank you for contacting us. The harmonic auto trader is a tool that is not fully automated as you might or might not be aware. Its automated to an extend so that harmonic traders do not need to hire junior traders to always scan and watch for patterns. This is a tool that is offered at a fraction of the price of hiring a person and these are the people who we have created this product for as it was made to solve this purpose. The average person that purchases the HAT is probably using it on an account similar in size to a full time day trader, not someone looking for a $97 EA off click bank.

We personally decline purchases and speak with many traders a week via the phone and have told hundreds if not more that their best interest is not in purchasing this product. Our product is mainly bought and sold by our existing members and after they have studied harmonics and understand the patterns and the methodology behind it, they can go through with the purchase with confidence and perform well with it.

It was a tool designed for a specific purpose. As per your email and what you state, knowing harmonic trading or the method is not something you are aware of that much and thus I feel like it would not be right to review this product or what we do. If you understood the method you would understand our tools such as the automated trader and have the appreciation for it.

We do appreciate all the review sites who offer to "review" the product, but we will have to decline your request at this time although wish you the best with your site and community of your own. A little integrity in this business would go along way and we can at least both agree its a consistent goal we share.

All the best and good luck with everything."


So unless you're some hot-shot trader with millions to trade with, these guys are too good for you. I appreciate the candor and it is CERTAINLY DIFFERENT, but what's the point of acting like this??? Moving on to the next project I guess!!!!

[raa]

Well the only part that is not automated I believe is profit taking. I don't think this is because it is in "best interest" but because they couldn't come up with a good strategy for it, however, harmonic patterns theory states few pretty easy to calculate profit taking targets. I guess they don't care much, or simply assess that readers of retail review sites are their unlikely customers. Perhaps it makes some sense in their case, not sure.

All that said, I am working on a development version of my own harmonic trader, I will keep you informed with results as soon as some sort of longer history is there, but it's already trading.

[pharoh777]

Thanks Raa!! I can never understand alienating anyone from a good product. And just because we purchase $100 trading products does not make us bums of the trading world. FGB would probably beat their HAT any day of the week and PLENTY of "professional level day-traders" with big balances use it.

I think in investing those who try to make themselves "master traders" do so not by creating an exclusive group, BUT by including those who don't know as much as them. Of course, I very much respect the vendor taking the time out to respond honestly.

Raa, I am very excited to hear your progress on your harmonic testing. If you would like me to create you a special spot here in due diligence to discuss it, I would be happy to. If it is still too early though, we can wait a while!! I really appreciate all your input and thanks for all the help in finding new things to try out!!

[raa]

Any chance to do your investigation on Kangaroo EA? I know it's far from being a new one, but its users are very loyal and keep on going. I don't like some aspects of it as per what I heard (some averaging down) but it perhaps worth taking a close look at.

Thanks