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Originally Posted by GoodBoy  I am back testing it and it seems to win 50-60% of trades on EUR/USD (only pair i tested) and yet remain in profitable. NOW Thats what i call good risk reward money mgmt! My SL was 37 and TP 76. Risk 2 (which can be increased if one wants to increase lot size)
One Issue , some of the losses can be minimized if one manually closes those positions that fail to hit TP (ie: TP was 76 pips and position went up to 71 pips and reverse when it closed, it closed at +20 pips. So thats 50 pips! that one could have captured, if one manually closed upon seeing market reversing). I figure if one baby sits using this EA, one can be much more profitable.
IMPORTANT NOTE: this EA works Money MGMT only works best w/ brokers that offer nano lots as well, ie: opening positions 1.33 micro lot broker will only allow 1.30 (so money mgmt will not be fuly utilized! which may result in difference in profit/losses.
because EA is designed to reduce lot size trading upon facing losses, which is SMART!
1.3 version seems to open multiple trades (taking huge DD)
3.3 version has fixed that to some degree.
Overall EA seems very good, could be improved upon by creator.
Just my 2 cents. |
Hi GoodBoy and Welcome,
Good points IMHO (for the most part).
What attracted me originally to this EA was it's risk/reward. The fact that it did not need to be super-accurate because of this ratio.
Unfortunately, like you say, it needs improvements. It still causes a large DD channel in the equity. I dumped it (and 4XProject did too about a week later) because of this. It's loosing streaks are deadly.
Rick