Greetings all, Let's discuss the Eurosmarter forex system (EA). This system trades the EUR/USD and is actually is two separate systems for the price of one. When you purchase this system you can download the "Grid-trader" or the standard trader which I would recommend as being the "smarter choice" The standard version features a news filter and has a take profit of 30 pips and a stop loss of 50 pips. This makes for a decent risk to reward ratio. The system can be used on 2 LIVE accounts and up to 5 DEMO accounts.
The Grid-trader has been tweaked with a news filter as well on the newest release V20. Earlier versions of the grid trader did not have this feature and thus the drawdown was much greater. Even with the added news filter I still would not recommend using the grid-trader over the standard version as the risk is just too high.
Forward testing of the standard trading system reveals only modest gains the past couple of months. With the Euro debt crisis in the news the price action of the past couple months has been erratic, and still this system has held together nicely through these tough times. So I believe as the markets calm down a bit, this system will really begin to shine!
I believe this is a solid system and will only get better with time. My suggestion would be to put this on a DEMO account for a month or two and when you are comfortable with the results put it on a LIVE account. This really does seem to be a "smart way to trade"
Eurosmarter Webpage
