Discuss ChannelTraderPRO.com (Doug Price)

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[ovo_sapiens]

I've just analyzed trades taken by this EA and wouldn't recommend it. Each and every position has 100 pips TP but 200 pips SL. EA closes profitable positions not at T/P level but during first bounce above/below entry level, with just a few pips profit, but losing positions are kept until 200 pips S/L level is reached. Having 5k$ equity it opens 1,5-2 lot positions (!!!) First losing position is -4,400$ (!!!) Thus if you're lucky, you may win a lot of money before this EA makes first wrong decision. Otherwise your account can be burned few days after you run this EA. As Joe DiNapoli wrote: 'All non-judgmental systems eventually fail (stop making money). Your hope is to be using one while it is working.'

 

[ForexVerified]

Our test gained +16.55% in 41 days of testing. You can check it out for an added perspective.

 

[ForexVerified]

I've just analyzed trades taken by this EA and wouldn't recommend it. Each and every position has 100 pips TP but 200 pips SL. EA closes profitable positions not at T/P level but during first bounce above/below entry level, with just a few pips profit, but losing positions are kept until 200 pips S/L level is reached. Having 5k$ equity it opens 1,5-2 lot positions (!!!) First losing position is -4,400$ (!!!) Thus if you're lucky, you may win a lot of money before this EA makes first wrong decision. Otherwise your account can be burned few days after you run this EA. As Joe DiNapoli wrote: 'All non-judgmental systems eventually fail (stop making money). Your hope is to be using one while it is working.'

It may be dangerous, but after 55 days of forward testing it has a very high win rate (i.e. SL was caught at -200 pips once and two other times at -20 pips) and it gained a total of +34.41% which is impressive. It had a drawdown at the beginning (due to the - 200 pips being caught), but it quickly recovered.