Friday, December 28, 2007

Pointbreak, Week 1, I like what I see !

This is the first review I will be writing for the Pointbreak expert advisor built for the metatrader 4 platform. As you know, I started to test this expert advisor a week ago as a personal request from the maker.

I am always skeptical with new expert advisors (anyone who has been into them for a while would!) but Pointbreak has been like a glimpse of light at the end of the tunnel.

Many expert advisor makers are always talking a lot about their expert's amazing profits, low draw downs, etc. They in fact talk the talk, but 99% of them do not walk the walk. As I have told you many times, they are based on unreal assumptions.

Pointbreak has surprised me, challenging some of my core beliefs. Pointbreak does not use a fixed stoploss, it is thus subject to massive drawdown. This, unlike other experts, is hedged with the fact that this expert uses amazing money management, being very conservative while it trades. This also shines against the fact that it is one of the most aggressive experts I have ever seen, it stays on the market all the time.

I have watched it's trading method along this week and I have found it to be rather splendid. It does a pyramid like scheme where it opens positions in several directions, following the trend. This does not mean that Pointbreak would "die" in a ranging market. Pointbreak will then use an alternative method to reduce draw down. Since the EUR/USD trends most of the time, balance is greatly shifted towards the trader.

Pointbreak could, in fact, turn into my personal favourite, definitely a keeper. We will see how it does next month. The statement can be seen here. Here is screen shot of the expert in action. You can always find the ea here.

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