ERXGen BreakOut | EURUSD Trader


  • Live Test Begins: 18/08/2015
  • Live Test Completed: 16/10/2015

 

The ERXGen (Early Riser Next Generation) Breakout System is a short-term trading technique built around the phenomenon that there are certain times of the trading day when price volatility has the tendency to be high.

ERXGen BreakOut EURUSD Trader


During our hunting for unique and interesting automated trading solutions in the Forex Industry we have came across with this very interesting EA called ERXGen. 

What made us being so excited about an opportunity to review this EA and give it a try our self’s is it’s breakouts algorithm. The EA will trade only during the tight Tokyo range and has 3 key trading conditions which if those aren’t met it will not make a trade. So you’ve sort of safety belt ensuring that it wont take every opportunity and will insist to be picky towards selecting the maximum rule/algorithm based match opportunities only.

What has further picked up towards our attention is the results of the author behind this EA:

Trading Result 18th June 2015

 

You can see at the screen shot above the EUR/USD pair (EURUSD Version of the EA) which is the pair we’ve selected to test for our review. After seeing this figures you do probably understand why we are so eager put this EA on our very own test.


The Test Begins..

  1. We’ve arranged dedicated Cloud Server located in Germany high-end data center / network facility for lowest latency
  2. We have installed dedicated MT4 terminal running this one EA only in it’s EUR/USD version.
  3. For test we are using highly reputable, regulated Forex Company Server “Alpari” in demo account with 10,000USD balance.
  4. Testing Start Date: 18.08.2015

Here is how it looks alike:

ERX DEMO START 18-08-215

 


So what’s Next?

  1. We will be running this Demo terminal on it’s dedicated cloud server for a period of two months.
  2. We have connected this terminal to MYFXBOOK so everyone can see in real-time whats happening.
  3. After two months we will be able to write here an add value information to conclude our impression from this EA running on a live market for that period of time.
  4. As always, we hope that our review and real market test helps you to make your educated decision about making your right choice.

 


 

Author’s Official EA Product Description:

Without volatility, trading the financial market is close to impossible. Profit is made ONLY when price is moving.

The ERXGen (Early Riser Next Generation) Breakout System is a short-term trading technique built around the phenomenon that there are certain times of the trading day when price volatility has the tendency to be high.

Following the release of very popular indicator – ERXGen Filter, being used by hundreds of traders this is an automated trading system giving traders even more benefits for their trading.

Price action during the Tokyo trading session is used to determine trade entry levels. Buy and/or Sell trades are taken mostly during the London Trading session.

The three key rules are:

  • Intra-week trend
  • Tight Tokyo Range (gap between high and low price during Tokyo session must be low, ranging and not trending)
  • Location of the Tokyo Range (price action during Tokyo session must happen either at the top or bottom of the previous day’s range)

This EURUSD Automated Trader comes with huge benefits

  • Single asset (EURUSD)
  • Well-written algorithms, precise and fast
  • More like a trade assistant than a robot
  • Allows for user intervention
  • Manages risk – lotsizes, trade sizes
  • Manages trades – trade size, trade targets, trade stoploss, stoploss management (move to breakeven, trailing, partial closes, etc)
  • Visual display
  • … and much more

Closed/Open Trades: