Joining our test is an interesting new Iris FX EAIt is important to note that the robot can work with one trading strategy or with three strategies at the same time. It should be noted that the robot can work both with one trading strategy and with three strategies simultaneously, the algorithm of which, unfortunately, is not disclosed by the developers of the Expert Advisor.

Other studied advisors

• Powerful Scalping EA
• Joker EA v3.3
• WOC modify 04 advisor

The only thing we can say for sure is that the work is carried out by pending orders with stop orders, with some standard indicators and the concept of market extremum involved. Additionally, we should add that the Expert Advisor tries to take away practically every point, so the order is modified at every positive tick, moving away StopLoss. This makes testing much more difficult. But, as the saying goes, "Not a dime to the enemy!

A distinctive feature of the Iris FX EA is the minimum number of settings, obviously, the developers are so confident in their strategies that they do not allow traders to configure the robot for their broker in any way.

• Strategy - using one of the implemented strategies of the Expert Advisor;
• LotPercent - automatic calculation of transaction volume depending on the deposit;
• Lot_fixed - a fixed volume of the lot, set manually.

Also, the robot itself determines the digit capacity of quotes, which is convenient, especially for beginners.

The developers recommend installing Iris FX Expert Advisor on the currency pair EURUSD. For the operation of strategies #1 and #2, the advisor is placed on timeframe H1, for strategy #3 - on H4. In this case, the recommended proportions for trades are as follows: Strategy1 = X; Strategy2 = X/2; Strategy3 = X. For the simultaneous work of the Expert Advisor on all three strategies, it is necessary to install it on three charts of currency pairs, which is a serious inconvenience, according to ForTrader.org magazine.

Testing Iris FX EA

Back-testing of Iris FX EA in the lab of fortrader.org magazine was conducted on the recommended EURUSD currency pair. We tried different variants of the robot: all three strategies with fixed and automatic lots. All the tests have shown good results giving profits with different types of Money Management. Despite the fact that the results with a fixed lot are not so impressive, we leave the risk for traders to try and check the performance of the Expert Advisor with the optimal MM settings.

Testing conditions for the Expert Advisor:

The company: Gamma Markets LTD
Terminal: MetaTrader 4
Deposit: 1000$
Account type: real, ECN
Currency pair: EURUSD
Timeframe: H1 (strategies #1 and #2), H4 (strategy #3)
Expert's office hours24/7
Backtest: 2010-2013
Start of testing: 01.07.2013

Testing Iris FX EA by Strategy #1

Iris FX EA test results for 2010-2011:

Download test results of Iris FX strategy #1 for 2010-2011

• Initial deposit: 1000$
• Transaction volume: 0.1 lot
• Net income: 1273.96$
• Maximum drawdown: 80.60 (3.68%)
• Average profitable trade: 4.98

For those who like more risky trading, I offer a strategy balance chart with automatic lot determination.

In 2013, the strategy also showed itself confidently, working with a fixed lot. Unfortunately, the testing is difficult to consider reliable, because the quality level is n\a.

Testing Iris FX EA by Strategy #2

Iris FX test results for 2010-2011:

Download the results of testing Iris FX Expert Advisor by strategy number 2 for 2010-2011

• Initial deposit: 1000$
• Transaction volume: 0.1 lot
• Net income: 2470.01$
• Maximum drawdown: 194.30 (7.48%)
• Average profitable trade: 3.59

For comparison, the graph of testing the second strategy with automatic lot determination. The numbers are off the charts.

The strategy also performed well in 2013. Unfortunately, it is difficult to consider the testing reliable, because the level of quality is n\a.

Testing Iris FX EA by Strategy #3

Iris FX test results for 2010-2011:

Download the results of testing Iris FX Expert Advisor by strategy #3 for 2010-2011

• Initial deposit: 1000$
• Transaction volume: 0.1 lot
• Net income: 1396.80$
• Maximum drawdown: 94.40 (3.93%)
• Average profitable trade: 4.51

And again, let's look at the balance chart with auto lot detection.

As well as for testing for 2013.

As you can see, the overall result of the robot is quite confident and worthy of testing on a real account. Recall that we use ECN accounts for this.

An important addition!

After a long dialogue with traders who use the robot in real trading, it was decided to put only strategy #1 and #3 on the account, because strategy #2 shows unstable results in market conditions. The strategies are at a 1/1 ratio.

Iris FX EA

• Monitoring the work of the trading advisor
• Discussion of the advisor's work
• Download EA