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Author Topic: LEGEND  (Read 34345 times)

Offline mauricejac

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LEGEND
« on: October 07, 2018, 12:27:45 PM »
Hello guys,
what do you think about this?

https://cuttingedgeforex.com/products/legend/

The strategy is similar to the various Ea Breakouts but it seems interesting because it also incorporates pending orders.
The price is a bit high, but you can download a free demo version.
Does anyone use it?

Offline ahal

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Re: LEGEND
« Reply #1 on: October 07, 2018, 01:00:18 PM »
Track record is too short. Must see 1-2 years minimum of verified record.

Offline petersurrey

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Re: LEGEND
« Reply #2 on: October 07, 2018, 05:03:31 PM »
Over 50% of the trades and profit made in just two days out of the total for the month - typical front-end loading in an attempt to skew the longer term performance...avoid until a statistically significant number of trades (over 6-12 months) prove it is a profitable system longer term.
« Last Edit: October 07, 2018, 05:06:49 PM by petersurrey »

Online reinerh

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Re: LEGEND
« Reply #3 on: October 07, 2018, 08:21:00 PM »

one can backtest all their ea, except the legend link is broken.

having the ability to do bt is nice, one can see how it trades.

i just send them a mail and hope they fix the broken link for legend.

Online donbon2

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Re: LEGEND
« Reply #4 on: October 07, 2018, 08:40:22 PM »
average win 27 pips

its a bit like FTD -- but performance with that over last 3 months has been bad like -38%

so yeah its probably not the best for this sort of strategy.

its funny breakout and volatility work when the big moves come  - but in slower markets it is a significant liability.

you take the other Breakout trading for 150 to 250 with 50 pt SL -- it profiles as a good idea - but in reality the market doesnt trade like that most of the time
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Online reinerh

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Re: LEGEND
« Reply #5 on: October 08, 2018, 11:28:36 PM »
so i backtested legend for the same time period to the forward live account,

and i have to say it matches darn close. i used a tradersway demo with birts tickdata suite and variable spread, gmt offset 0.

i must say that i am highly impressed with all their ea, even their tickscalper has a chance of being currently profitable.

from all the backtesting i did legend is the most promising, followed by apex.

anybody interested in these ea i would strongly suggest run some backtests yourself to see how the ea trade.
and make sure to run visual as well that will give you a really good feel.

Offline jwatts7701

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Re: LEGEND
« Reply #6 on: October 09, 2018, 07:55:04 PM »
this is promising. I remember the ascent free EA. It might be worth a closer look, although i am more inclined to wait until the live trading presents a bit more trades to analyze.

Online reinerh

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Re: LEGEND
« Reply #7 on: October 12, 2018, 01:07:12 AM »

i am setting up an account for all to follow along,

more info after the weekend.

Offline mauricejac

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Re: LEGEND
« Reply #8 on: October 12, 2018, 07:33:00 AM »

i am setting up an account for all to follow along,

more info after the weekend.

I follow you!


Offline jwatts7701

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Re: LEGEND
« Reply #9 on: October 12, 2018, 05:02:39 PM »
ill keep a close eye on this as well. Hopefully it turns in to a forex legend!

Online reinerh

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Re: LEGEND
« Reply #10 on: October 13, 2018, 01:31:30 AM »
ok, so here is the scoop.

when i wanted to backtest legend i could not load it, so i made the vendor aware his download link was broken, he fixed that right away, and then he noticed increased traffic here from donnas site.

subsequently he checked in and seen my posts and remembered me from all the way back in 2012 or so when his first ea was released called ascent.

shortly thereafter i was in for a huge and i mean huge surprise, i got an email confirming my purchase, ha what the heck since i have not done so.
 
so what happened is that the vendor was extremely kind and generous giving me access to all his ea, yes all of them. thanks again joe :)

he will not be coming here since his efforts will be what he does best, coding and developing, and some of you will remember my debacle over at simpletrader, i will also never ever go down that path again.

the bottom line is i have set up a fx open account running legend default mm on eu and uj for now which will be in my signature.

rest assured i will try my best to be as unbiased as anyhow possible and strictly speak my mind from a users perspective, no more no less.

so from all the backtesting i have done i am extremely impressed, and here is why, backtests match forward results almost to the pip, with legend and ascent.

there is only a very very few ea on the market which can claim that = live results matching backtest.

for example, over on forexverified ascent has been running for a longer time, its results can be backtested which when done with 99% tickdata will show the same results.

and legend is the much improved ascend, lower dd more gains.

the legend strategy is outbreak trading on m15, but with velocity and pa taken into consideration, and it has very advanced exit strategy as well, with partial closure along the way to maximize gains.

so again i want to encourage my fellow traders to backtest the demo eas, visually also to see what they do, and keep your eyes on my legend account as it unfolds going forward.

oh the legend account will be linked early next week.

so as always green pips to all................................

Offline mauricejac

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Re: LEGEND
« Reply #11 on: October 13, 2018, 06:14:04 PM »
Hey, I'm the one who opened the topic on Legend, I also deserve a license as a gift !!
I'm joking  ;)... for now I'll try the demo

Offline Humble Trader's Fx

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Re: LEGEND
« Reply #12 on: October 13, 2018, 06:33:33 PM »
Hey, I'm the one who opened the topic on Legend, I also deserve a license as a gift !!
I'm joking  ;)... for now I'll try the demo



I think I deserve first crack at this because I had invited the developer to show up and address member's queries but I'll pass because I know reinerh,   will well represent this EA with a thorough and unbiased analysis to the benefit of us all. 😊


Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Online FLechdrop

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Re: LEGEND
« Reply #13 on: October 13, 2018, 11:51:49 PM »
I don't know, but the backtests don't look so great for me. Perhaps I should tweak the settings, but I used the standard ones for GBP for the last ten years. It just goes up and down and makes about 50% in the end.

I think the Apex Scalper looks more interesting, when I backtest it, and even the 'tick scalper' seem to do quite well.

Online reinerh

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Re: LEGEND
« Reply #14 on: October 14, 2018, 12:48:36 AM »
I don't know, but the backtests don't look so great for me. Perhaps I should tweak the settings, but I used the standard ones for GBP for the last ten years. It just goes up and down and makes about 50% in the end.

I think the Apex Scalper looks more interesting, when I backtest it, and even the 'tick scalper' seem to do quite well.

legend = eu with default settings

 

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