Blessing 3 EURCHF - Pip Cop

**rsmereka** · 2011-05-09, 10:31 AM

This review is about the Blessing 3 EA which I obtained from here. I have no affiliation with anyone in conjunction with this review. This is a completely free EA in the public domain. Blessing 3 started at Forex-TSD in this thread. It's a whopping 367 pages long as of this writing. Later on, the EA was moved to the J Talon site.

Blessing 3 is a grid trader with Martingale style money management

. This EA has the most input parameters of any EA I have ever seen so it's important to get a well tested set file. Because of the myriad of input parameters, Blessing 3 can be traded in so many different ways.

This review concentrates on Blessing 3's best performing strategy (according to the website) which is on the EURCHF H1 chart. The set file I am using on this pair can be obtained from it's forum here. I am using the aggressive set file from post #2. I made absolutely no changes to this set file.

This strategy uses either an MA setup or a CCI setup to open trades. I think it closes the trade at 10 pips profit but I am not sure. The DD is high on this strategy (89% based on a backtest from Jan 1, 2007 to Oct 11, 2010).

Update:
2011-08-15 - Account blew up. Trading stopped. See post #4.

Rick

Dan · 2011-07-31, 12:32 PM

Rick,

This is one consistent EA. I wonder if it would do this on a live account.

Dan

**rsmereka** · 2011-07-31, 07:06 PM

Quote:

Originally Posted by Dan

Rick,

This is one consistent EA. I wonder if it would do this on a live account.

Dan

Hi Dan,

It should. It's not a scalper so the performance on a live account should be similar to a demo.

Just keep in mind that Blessing 3 uses Martingale money management

which can be dangerous.

I want to run this EA on a demo account for an extra long time (maybe six months) before considering putting it on a live account. The highest floating DD so far has been less than 30%.

Rick

**rsmereka** · 2011-08-17, 12:39 PM

Yesterday, this trading system blew up the account.

Another one bites the dust.

Final screen shot attached.

Rick

Providemus · 2011-08-17, 03:23 PM

Hi Rick,

you could set the risk lower.

BR,
Providemus

**rsmereka** · 2011-08-17, 03:39 PM

Quote:

Originally Posted by Providemus

Hi Rick,

you could set the risk lower.

BR,
Armin

Hi Armin,

Yes, I could but better people than me created the set file that I used and how much lower should I go?

This EA had it's chance.

Rick

Merrygoround · 2011-08-20, 11:42 AM

Hello Rick, I read on several forums that using Martingale will destroy any account in the long run. Do you agree with that? I am asking this because of the other martingale system that you are testing (Forex Hacked). Is it any different from this Blessing 3 EURCHF?

**rsmereka** · 2011-08-20, 12:11 PM

Quote:

Originally Posted by Merrygoround

Hello Rick, I read on several forums that using Martingale will destroy any account in the long run. Do you agree with that? I am asking this because of the other martingale system that you are testing (Forex Hacked). Is it any different from this Blessing 3 EURCHF?

Yes,

I agree with that statement. What I and others are trying to do is to tame the Martingale beast. I am still uncertain as to whether it can be done.

Rick

juanmi · 2012-01-28, 02:57 PM

Hello,

I have 2 demo accounts and 2 live accounts with Blessing 3. This strategy (eurchf) is scalper/martingale/grid. My live accounts are working with forex hacked and blessing.

No trading in news with high impact.

Hot Forex $2000 demo account

http://www.myfxbook.com/members/juan...chf-low/182170

Instaforex $5000 demo account

http://www.myfxbook.com/members/juan...gh-risk/208490

Happy trading!

Juan