Trend OSOB Expert Advisor Week 5 Live Test

Wow! A great week on Trend OSB which collected us an impressive +75 pips this week!

Certainly not bad for an automated system which required us to just start up Metatrader and leave running for the week! Performance since testing began is now running at +161 pips.

This week the trades were evenly split between the EURUSD pair and the GBPUSD. Six trades in total. We are still running the extended profit target of 15 pips on the GBPUSD pair as opposed to the shorter 10 pip target on the EURUSD. Interestingly though we have not yet hit a loss on the GBPUSD pair since including this in our test.

This may have something to do with the tweak made to the GBPUSD settings (commented on in our previous post). This tightens up the entry criteria a bit and therefore, going forward, we are going to implement these changes to the EURUSD pair, while at the same time increasing the profit target to 15 pips on the back of the GBPUSD success.

So here are the live results from last week as shown on our account:

Why we like the Trend OSOB Expert Advisor

What we like is not only that the EA is free but also that performs without the hype surrounding most automated trading systems. We also like the strategy behind the system. It is easy to understand and above all it is simple in its execution.

We have long been advocates of simple techincal trading systems. There is always a big temptation to overload charts with indicators and seek out the most complicated algortihms for trade entries when carrying out any form of  trading. This is especially true of many automated commercial systems which use this next 'big thing' approapurchasing ch to marketing their systems. The reality is that most of these systems are simply 'dressing up' simple trend following stratagies to entice unsuspecting buyers into making a purchase, in the belief that they are buying into something unique.

The trend following system used by Trend OSOB is however easy to understand. It uses an hourly trend following sytem and enters trades on overbought or oversold readings on the 5 minute charts. Simple and yet effective in our books.

You can find out more about the Trend OSOB expert advisor on the Donna Forex Forum boards, where you can also download the EA for free.

Trend OSOB Expert Advisor Week 4 Live Test

As we mentioned in our previous post we are now running the EA on both the EURUSD and GBPUSD pairs on the 5 minute chart.

Trading on the additional pair has certainly helped our results this week. Three trades on the GBPUSD, all pocketing +15 pips helping to counteract a loss we picked up on the EURUSD earlier in the week. The net result for all trades this week was +23 pips.

Our running 4 week total is now up +86 pips which is certainly encouraging performance.

We have been running a slightly modded version of the settings on the GBPUSD pair. Instead of just running the default osciallator overbought and oversold settings, these have been 'tweaked' ever so slightly to try to improve the accuracy of entries.

The RSI_OB_Level has been moved out to 73, while both the StocOS_level and StocOB_Level have been moved to 30 and 70 respectively. Take profit has also been moved out to 15 pips while the stop loss remains at the default 72. We don't take creadit for identifying these settings but thank the member of Donna Forex forums who recommended them following a backtest of the EA.

It's difficult to know exactly as to whether these changes will have a made a material difference to performance after only two weeks. However with all five trades taken on the GBPUSD having won far, we are more than happy to continue with them for the time being.

And of course if the performance holds up on the GBPUSD pair we may also considering adopting them on the EURUSD. TAQNGZNK3TME