I was first made aware of Forex Crescendo by Mark McRae, the man behind the Traders Secret Library. I’ve had contact with Mark for a while now and he has never recommended a product (in fact has a rule not to). But for some reason he decided to break this rule after seeing Forex Crescendo 8 month live test track record. He obviously felt so confident in the performance of Andrea Salvatore’s creation, he knew he would be doing his subscribers a disservice if he did not tell them about it.
I had a look myself and I can confirm that it is indeed nice viewing, and the system behind it sounds solid also.
Forex Crescendo Essentials:
- Uses Currency Correlations to trade GBPUSD and GBPJPY pairs
- Uses H1 Timeframe
- Only looks for entry points at certain times
- Trades twice daily on average
- Looks for trending markets
- Steps orders and takes profit when a target is reached
- Expect 5-15% return per month with a Draw down of 25% (risk dependent)
FX Crescendo has been brewing in the lab for a while now and other than a couple of hiccups with the platform falling over, it looked quite profitable at the start. Things are now going south fast, but let’s see if it can come back and prove me wrong.
Test 1: Independent Strategy Testing
The system behind Forex Crescendo relies on two currency pairs receiving data at the same time, therefore the Strategy Test results (which only focus on one pair) tell us little and do not show a true representation of the final product. Instead, here are the live results I have plucked form their site:
Currently running Forex Crescendo on Alpari UK, testing started on 28th December 2010. Current results are as follows:
View our Forex Crescendo Live Test Statement
Lab Result:
Update 28th December 2010:
- Initial Live Test terminated and removed from site due to an inappropriate change in settings. New test started.
Hi Cam,
hope it will be a good product for serious traders… but where is the M.R.N bot and Forex quattro from rita? when will u put those on site….. and Cam “forex cashbot” also sounds interesting so plz take a look at it 
hmmm, looking good
Regards…
Yes, there’s a lot to get on with my friend… I’m chasing my tail at this point. I’ve heard back from Rita, but only with an updated Greenbot and not the Forex Quattro yet. She also tells me there’s a Fish Forex 2 coming out soon.
I need to enlist some help at this rate to keep up!!
Hi all,
These are my opinions only.
I’m a pretty conservative guy and won’t trade any system until I am satisfied that I have personally proven it does have an edge or have been sufficiently convinced that this proof already exists. I am also not generally in favour of scalping EA’s where the average loss is higher than average profit as I have a personal view that this is a losing formula right off the bat.
There are only 2 EA’s I have running on my live account. Crescendo is far and away the best of the two. I have been running this with the recommended settings on a live GoMarkets account (Australia) that initally had $1,000 depositied on 13/10 and then another $1,000 was added on 18/10 at which time I updated the settings accordingly for the higher balance. So my total deposits = $2,000. The account now has a balance (10/11) of $2,289 and current equity is sitting at $2,257. So depending on which of these figures is used -profit after almost 1 month is either 14.45% or 12.85% although this is not really a fair reflection of a ‘normal’ month due to the extra funding part way through the month (result would be a little higher if the balance was the same right through the month).
I have also contacted the creator of Crescendo (Andrea Salvatore) a few times and always got a prompt response. I have also discussed some ideas for improved risk management with Andrea (I work full time in financial services and trading systems development is one of my specialties). I am totally convinced he is the real deal and sincere about providing the very best possible service as well as continual product improvements. I know some early users of Crescendo who were using an Alpari account had problems due to some of the automated processes not functioning with this broker and this did cause a few people to react negatively on some other review sites. From what I have heard these problems are now sorted out and Andrea was genuinely very upset that this problem occured. Many other reviews have been extremely positive and I only mention these negative ones in case people do read them and dismiss Crescendo too prematurely. The positive evidence does outweigh the negative for this EA if you look around. One other very good source of proof is the investor only password is freely given for a live testing account that has been running several months now with outstanding results.
I doubt we will see a better EA this year than Crescendo and I am confident that in a short while we will hear a lot more positive feedback.
Cheers,
Al
Forgot to add a rating to the review. Defintiely a 5 star.
i wonder how is the new v1.3 perform.
I’ll have to wait until the DD is closer to zero before installing it (Currently -$2200).
With this kind of drawdown I would never even try a robot like that.
If anyone is getting ridiculously high drawdowns using crescendo, they should look at themselves and their risk management attitudes rather than to crescendo. They are probably gamblers and it will be very clearly reflected in their settings.
Fund Manager
I have to step in here guys, the high DD is due to the change of settings I made in order to accelerate growth by increasing risk. I was planning to reset the settings to default again if this strategy didn’t work (which it obviously hasn’t). The predicament I’m in now is that if I change the settings back to default the DD may never recover and will cause the test to fail miserably which it may not have if I left the settings at default.
What I think I’ll do is create a new Crescendo MT4 account and start testing again from scratch with default settings. I’ll leave the current chart on the site for historical reference.
forgot to rate crescendo, here goes.
The Crescendo is a piece of crap EA, it is a very high risk with high Open Trade DD, which most platforms like MT4 dont even calculate.
On his live account he had 14 open trades which hit an OT DD of 36%, and was very lucky that the market turned around for him.
The new V 1.3 version he wrote a custom program that calculates the OT DD on Dukascopy, and it hit 48% of account balance. The Crescendo does not have use any Stop Losses what so ever, and that is the most dangerous element to this robot.
I’ve been running this on demo for 2 months. On a $2000 account it struggled to make $67 then lost $180..it’s now in a $230 DD.about average for this EA it seems
The price for the EA does not include taxes. Before I bought this EA I wanted to find out more (naturally)but you have to buy it before you can access the FAQ or blog..consisting of other users (whose opinions are very mixed)..some are winning a little some are losing a lot it seems.
Mr Salvatore does seem keen to help people with
queries. He also seems keen on encouraging you to buy other EA’s made by other people.
I think this EA is no better or worse than any other EA out there, in that (like any EA or system)it works…….some of the time! if you don’t like sitting through massive drawdowns this isn’t for you.
There’s an old adage…if it sounds too good to be true etc etc etc.
It doesn’t cost a lot so if you want to play with it go ahead…but run it on demo for a while first. I am running it on the recommended (default settings)
Good luck
Anyone that thinks this Crescendo EA is a great EA is knows nothing about trading, period, and is nothing but a big dreamer.
Any good(smart)trader in this world will never risk any more than lets say 5% at any one time on any open trades, so how do you set the risk on an EA that does not have any Stop Loss, impossible I say!! I saw a -$6400.00 open trade DD on his live account, which worked out to be -36% Open Trade DD.
I bought it and returned it for a refund, now he is selling other EA’s like the Leo Trader Pro, what a scam artist he is.
I own this EA and I traded it through December 2010 but I was ‘scared’ so I basically never allowed any DD. I cut short my profit very quickly!
I trade a ‘large’ account – I made some money but I bailed out quickly when it was about to eat up my profits!
After some thoughts (serious), I will never again put it on my account – it is not for me. I hate DD so per definition, I am out… I think you have strong nerves with this EA.
I agree I do not have this strenght and I have chickened – OK but I wan to sleep well. On that basis, this EA is ‘poor’…
Good luck!
O
I also ran this EA on a small account, the developer Andrea did seem sincere and this EA looked promising.
Made profits for me, but saw many in the blog losing money and warning lights were flashing.
I had been attempting to reduce risk by trading smaller size than recommended, but eventually bailed of this EA a few months ago as still not happy with risk on account (went against all I believe in re money mgmt).
An EA with a positive edge where risk can be managed to work along with my longer term systems would be nice, but have not found it yet.