Introducing the Fast Forex Millions Automated Expert Advisor. Fast Forex Millions is a new forex robot developed by a veteran forex trader named William. Fast Forex Millions EA has been programmed to trade these 5 major currency pairs EURUSD, USDCHF, GBPUSD, AUDUSD and CADUSD. You can trade one two or all these five pairs together with the FastForexMillions robot. When you download this EA, you will get a detailed manual that will explain how to trade with this robot. There are many customizable settings.
However, the developer of this robot William says that you should use the default settings as these have been found through a lot of testing to be the best and the most optimized settings. Still, before you trade with this EA, you should take a detailed look at the settings and adjust them according to your risk appetite. The FastForexMillions Manual will explain in detail how to do it.
You don’t need more than $250 in your live account to start trading with this robot. Fast Forex Millions Robot spots on average 5-10 trading opportunities. The protective stop used by this EA is tight so as to prevent big losses to your account. Instead of using the take profit target, this robot uses the trailing stop feature so as to lockin the profits and stay in the trade as long as possible and maximize the gains. The risk to reward ratio per trade is low and there is an advanced money management system build in. You can adjust the risk settings according to your appetite level.
Fast Forex Millions Backtest Results
The developer has posted the backtest results for all the 5 major pairs that this robot has been programmed to trade. The modelling quality of these backtest results is 90%. It would have been good that the modelling quality used should have been 99%. These backtests have been performed on M15 (15 minute charts). EURUSD backtest result spans 5 years from 2006.12.18 to 2011.12.18 and shows a deposit of $1K turning into 300M. However the max drawdown during this period was 36.22% which is quite high. A max drawdown of more than 8% should be considered dangerous. There is another backtest result for EURUSD shown spanning the period 2010.6.17 to 2011.12.17 turning $1K into $4.8M in 1 year with a max drawdown of 10.53%.
In the same manner backtest results for other pairs have also been shown like 2 year backtest of FastForexMillions trading USDCAD pair turns $1K into $3.16M with a max drawdown of 9.31%. You can take a detailed look at all these backtest results. It would be a good idea that you should do your own backtests with a modelling quality of 99%. Backtest is no guarantee that this robot will work in live trading. But it can be a good starting point. Backtesting a strategy gives you some idea of how this strategy might perform. There are grey areas in backtesting that makes it inaccurate. For example, when you trade live there is slippage, the spreads can widen, there can be requotes or even you might lose connection with the broker server. When you do backtest you can’t take these things into account. So what you get is an idealized performance of a system in a hypothetical market.
Fast Forex Millions Live Trading Results
Fast Forex Millions live trading results on a third party verified accounts have also been posted. Infact these are just screenshots of the third party verified accounts. These can be demo trading results. Since no link has been provided to take a detailed view of these third party verified results, one cannot say for sure. For example, the live trading or the demo trading results screenshot shows a monthly average gain of 59% being made by FastForexMillions EA trading EURUSD with a drawdown of 10.53%. In the same manner, GBPUSD results show an average gain of 37.7% with a drawdown of 17.47%. You should take a detailed look at these screenshots as well. It would have been a good idea to provide the links to the third party verified account.
Testing Fast Forex Millions
There is nothing like doing your own testing. We keep on reminding this fact that you should always thoroughly test a new forex robot, ea or a software on a demo account before you ever think of trading live with it. Only by testing a new robot, ea or a forex software, you will come to know whether it is worth trading live with or not. Since the developer is giving 30 days of no questions asked money back guarantee period so that you can test his robot, you should forward test FastForexMillions on a demo account for 4 weeks. At the end of these 4 weeks do a thorough analysis of the performance of this robot. If the performance is not good, simply go for a refund. Suppose Fast Forex Millions Robot gives a good performance. In that case open a live account with a deposit of $250 and further test it for a period of one more month.