As the name suggests, this EA is a collection of several subsystems, four to be clear. The most accurate description that fits it is "four different EAs joined together". The result of such an EA could be considered "Pleasant" as you will discover this yourself after some further reading, It's an easy-to-use EA and is one of the most solid automated trading systems that I've ever seen.
This EA can trade only the EURUSD and GBPUSD pairs on the M5 timeframe, but the indicator timeframes appear to be hard-coded. You will discover this yourself if you use the M15 timeframe, the results will be the same as on M5. This is a good protective method for the customer even if he mistakenly ran it on a chart with the wrong timeframe, it won't be disappointing.
You can expect prompt and helpful replies through EA support, as the EA owner is very helpful and cooperative with his customers. On another hand, there are frequent updates of the EA with short time intervals, which means that the owner is actively working to fix any issues that may appear.
As the name suggests, Forex Combo System is a collection of several subsystems, four to be clear. The most accurate description that fits it is "four different EAs joined together". The result of such an EA could be considered "Pleasant" as you will discover this yourself after some further reading, It's an easy-to-use EA and is one of the most solid automated trading systems that I've ever seen.
One Real Account plus Unlimited Demo Accounts.
FREE future Lifetime Updates with a 24/7 Professional Support Team.
All Brokers and Account types are Compatible.
We Recommend Installing it on
We recommend Installing Forex Combo System on TradingFX VPS Forex VPS and using it with Tickmill Forex Brokers for the best stability and profitability.
The Package includes an Easy to Use Detailed User Manual Added to the Instructions Existing in theThe Package includes an Easy to Use Detailed User Manual Added to the Instructions Existing in the Official Website Members Area.
60 Day Money Back Guarantee is Provided by the EA Vendor.
An Easy Automated Installation Wizard Installs the EA to the Metatrader Terminal in a few Button Clicks.
The most pleasing impression that I had on visiting this website is that it doesn't rely on ordinary marketing page design of so long pages straining the hands of scrolling down the mouse till the end of the page through fake testimonials marketing crap.
The spread was set to 1.5 for EURUSD and 2.0 for GBPUSD and the GMT offset was 2 with DST enabled for all the history center data testing. As most of you know, some data during 2011 - about 3 months - is missing from the Metaquotes history center, so this will be missed from the backtests too.
The maximum drawdown is better kept below 20%, it's here a little higher but the risk of 2 fits enough. While the previous backtest results look great, running a fixed lot backtest could lead to a more comprehensible representation of the balance curve progression through the 12 year backtest.
This seems more pronounced than the previous balance chart and this is enough encouragement to upgrade the EURUSD EA to 3.0 which has a lower drawdown and better returns than the first version 1.42 given the backtests of both versions.
Here is separate tests, one for each strategy to compare them in detail:
In fact, it can perform the work when it is alone. Certainly is not a miracle strategy, but it is profitable and integrates with others excellently.
In fact, in spite of this backtest looking a bit better than that with the previous version of the EA, it's really not. The drawdown is more worse, is 32% and the end profit also decreased.
Here is a fixed lot backtest for GBPUSD too:
The highest drawdown looks to be found in the beginning of the test, so you needn't concern about the figure mentioned above - the market had great changes since 1999 - 2000 - but a drawdown over 30% can't be simply ignored especially with the cautious risk settings were applied.
Here is also separate tests, one for each strategy for GBPUSD history center data:
For the tick data backtests, the real (variable) spread and a commission of 0 were used.
Here is a backtest for the whole four strategies:
Despite the relative drawdown of the whole four strategies being a little worse, the profits are much higher due to compounding. It seems that the EuroRange is not just a welcome addition to the EURUSD EA.
Although it's expected that this one would look just like the history center data backtest, it doesn't. If you'd check the trades most of them would match but - for some reason - there would be missing trades in both.
As noted Forex Combo System performed better by running all its 4 strategies on GBPUSD, the same as on EURUSD, but not as high as it, it was just slightly better.
Like EuroRange strategy EURUSD backtests, this doesn't really look much like coordinate in the history center data. Here you'd also find missing trades in both backtests when compared those with history center data backtests. The overall outcome of this test using tick data isn't preferred, so the more prominent review factor will be the forward testing.
The previous backtests tick data was created with GMT +2 and DST was set to be automatically calculated by Tick Data Suite, the backtests below are using GMT 0 and no DST calculation.
The outcome appears to be less profitable than running the same with GMT +2. Peculiarly, as shown below, the 2 backtests not depending on the GMT offset were not really worse, but most likely a synergy effect was applied to the ones depending on the GMT offset above and boosted the profitability.
As it turns out, the notice regarding the different GMT offset no longer stands. This is not considered much worse than the one with GMT +2 and DST calculation.
As EuroRange is another strategy relying on the GMT offset, here is a backtested for it with GMT 0 and DST calculation to distinguish the effect.
EuroRange didn't show a better or worse performance than in the backtest with GMT +2 and DST calculation. Its GBPUSD implementation wasn't a good idea, to begin with, and it remains at the same level.
Forex Combo System integrates four entirely separated strategies:
Every strategy parameter could be modified, but this is not recommended as they perfectly perform well as they are set.
The EA settings are extremely versatile and may confuse a new user. However, it's perfectly good to leave the defaults as they are, modification of the money management parameters is the only required setting modification.
The manual manages to be brief and on target. The installation instructions are explained in a few pages, then the EA parameters are discussed, with a range of suggestions for every numeric parameter. The effects of parameter changing on the operation of the EA are not clarified and if you insist on changing any of them, I suggest backtesting thoroughly.
You should note that the EA supports fixed lots in addition to dynamic money management, using a percent of the account available margin, so you should take into consideration that if you'd run another EA on the same account beside Forex Combo System, the lots traded by the later would have been lower if the other EA has open trades.
If you are a very conservative risk supporter, then you should limit the dynamic money management to 2 for each system.
The money management is clarified quite thoroughly in the manual recommending not to trade it with less than $1000 accounts and to choose your trading volume taking into consideration that 5-6 consecutive losses of 60-70 pips are possible to encounter. This is just how the EA behaves in a way that you should be prepared to receive some losses before gaining the big wins, while in most cases losses caused by one strategy will be compensated by wins of the other strategies.
Practically, you can trade it with less than $1000 accounts by using cent accounts, like those available at LiteForex or FXOpen (micro).
Concerning marketing evaluation, I consider the Forex Combo System homepage woolly. It just shows a few backtests lasting for 6.5 years, a three-minute video of a slightly over-leveraged visual backtest, and a forward test, in addition to the results and trading privileges verified by MyFxBook. Here is a MyFxBook up-to-date balance graph, looking quite outstanding at the time of this review posting, about 1 year after its launch:
The most profitable strategy is still the EURUSD scalper and breakout, in addition to the GBPUSD scalper, next to them is the EURUSD reversal, then the GBPUSD breakout and EURUSD EuroRange. Finally, GBPUSD reversal and EuroRange seem to be the worst ones.
The final word, Forex Combo System is a nice upgrade. Recommendations are summarized in using the default settings with 2.0 risk for each strategy, keeping all strategies enabled is not a good idea; for GBPUSD, the Reversal and EuroRange strategies should be disabled.
As the name suggests, Forex Combo System is a collection of several subsystems, four to be clear. The most accurate description that fits it is "four different EAs joined together". The result of such an EA could be considered "Pleasant" as you will discover this yourself after some further reading, It's an easy-to-use EA and is one of the most solid automated trading systems that I've ever seen.
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Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.
Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.