Update October 2009: System made few huge losses of its profit during the high volatility days in October. Don't use this system with high spread...
Update October 2008: I don't recommend running the system during high volatility days when the currency makes huge moves during the day to avoid losses. Higino released a new update.
Update October 2008: So far so good. Results after 3 weeks on a real account are very promising. I will continue my test.
Nowadays it's really hard to find a good working EA among tons of crap that the forex market is filled with. When someone asked me to review this BankingFx and I got to their simple website and saw strange results with strait line to high profits it looked weird to me at first. So I decided to contact the vendor. I was suprised this time that vender Higino not only replied me but also was so kind and honest that provided a copy of his system to me for my investigation. I must admit not many vendors act so straight-forward to me. Most of them ignore or try to take money from me :) Here is what Higino wrote to me:
"My system is very safe, works with fixed lots, or money management. Does NOT use Martingale, or there is no danger of losing any money in the account suddenly. The Expert Advisor BankingFx Diamond EUR-GBP is profitable in all market conditions, it has high profit factor, and the losses are very small.
The great advantage of the Expert Advisor BankingFx Diamond EUR-GBP is the PROFIT FACTOR obtained, is extremely high, on average 4.0, so it is possible to use larger lots, getting more profits."
I verified the backtest and was really suprised. This scalper worked fine. But I was really worried because Take Profit is so small (TP=5) and I guess not all brokers allow scalping systems to trade on real account. So before posting positive feedback based only on my backtest I decided to place it to trade on my real account. I was really afraid that the system was optimized to work well on history (so called only-history holy grail) but would fail in real trading.
Click to enlarge the image
The bottom line is that BankingFx is a good choice.
Check out the BankingFx website
