I usually avoid EAs Like Forex Hacked, simply because they are based on a Martingale system which opens up bigger trades in the same direction in the hope that the price will retrace providing enough profit to cover the losing trades and make a small gain overall. Why? Simply, because if the price trends sharply against the direction of the trades your account can go into very large drawdowns and even risk getting a margin call destroying your bank.
However, Forex Hacked has had some good reviews and seems like a Martingale hybrid system that may actually work in the long run, if you take out the profit you make along the way.
There have been a few releases of Forex Hacked, each providing different recommended settings and currency pairs. Here’s a quick overview to give you an idea:
Forex Hacked Version 1 Settings & Pair
Take Profit: 45pips
Stop Loss: Trailing
Recommended Pair: GBPUSD
Max Open Trades: 8
Chart: H1
Forex Hacked Version 2.2a Settings & Pair (latest version)
Take Profit: 132pips
Stop Loss: Trailing
Recommended Pair: USDJPY
Max Open Trades: 12
Chart: M30 preferred (or H1)
Due to the differing recommended settings and pairs provided by the Forex Hacked team I have run back tests on all combinations to determine what settings and pairs I should use in a Live Test. Take a look below…
Test 1: Independent Strategy Testing
2009 GBPUSD Strategy Test (using Version 1 Settings and H1 Chart) results showed trading bank destroyed after 5 months using 0.01 Lots and 1:100 leverage.
View full 2009-2010 GBPUSD Forex Hacked Version 1 Settings Strategy Tester results
2009 USDJPY Strategy Test (using Version 1 Settings and H1 Chart) results show a loss from $10,000 to $9779 using 0.01 Lots and 1:100 leverage.
View Full 2009 USDJPY Forex Hacked Version 1 Settings Strategy Tester results
2009 GBPUSD Strategy Test (using Version 2.2a Settings and H1 Chart) results show growth from $10,000 to $12,369 using 0.01 Lots and 1:100 leverage.
View Full 2009 GBPUSD Forex Hacked Version 2.2a H1 Strategy Tester results
2009 USDJPY Strategy Test (using Version 2.2a Settings and H1 Chart) results show growth from $10,000 to $10,859 using 0.01 Lots and 1:100 leverage.
View Full 2009 USDJPY Forex Hacked Version 2.2a H1 Strategy Tester results
2009 GBPUSD Strategy Test (using Version 2.2a Settings and M30 Chart) results show growth from $10,000 to $12,455 using 0.01 Lots and 1:100 leverage.
View Full 2009 GBPUSD Forex Hacked Version 2.2a M30 Strategy Tester results
2009 USDJPY Strategy Test (using Version 2.2a Settings and M30 Chart) results show growth from $10,000 to $10,705 using 0.01 Lots and 1:100 leverage.
View Full 2009 USDJYP Forex Hacked Version 2.2a M30 Strategy Tester results
I ran further back tests to the ones above all the way back until 2000 and found that Forex Hacked destroyed by $10,000 bank after 4 years in 2004 and again in 2008 (after starting with a new $10,000 bank from 2004). This was using the Version 2.2a settings on GBPUSD M30 Chart. Therefore I have decided to run the Live Test below using only the Version 2.2a settings on GBPUSD M30 Chart.
Currently running Forex Hacked on Alpari UK, testing started on 7th June 2010. Current results are as follows:
View our Forex Hacked Live Test Statement
Lab Result:
1 positive user reviews 
0 negative user reviews.
I really like this one. All you have to do is set the smallest lot size at first for risk tolerance and withdrawn profits weekly
Happy Trading
I have been using fx hacked for 2 weeks now on Gbp/Us and Us/Yen on the scalping and medium risk settings and all it seems to do is dig a hole that it cant dig itself out of…yes it does trade requently but at this stage it certainly isnt making any profit.
Did you use the Mass Hedging Feature in your tests?, if so , which ones?
Hi Rchrd,
Not in the tests above, but I did try it out and it didn’t work well at all… Most accounts were destroyed within no time. Hope this helps.
The builder of FXhacked requires 300/1 leverage and 1 hr? time frame to guarantee its performance – you cannot truly test it any other way – like you used 100/1 in your tests – Why? perhaps it is like going up a hill in a truck in to high a gear – it cannot accelerate and kills the engine. – FXhacked likley needs high leverage to build the account to avoid a margin call like your tests experienced – try again, be happy! PS. you asked me.
I’ll double check and do a test again on a 500/1 demo account… I may have been mistaken stating 100/1. We’ll see.