MyFXProfit.co.uk

sloth011

Recruit
Messages
8
Ive been running this EA for a couple of days on a demo account now, the results seem way too good to be true, it’s doing impressive results so far.
 

sloth011

Recruit
Messages
8
The last couple of days there was quite a huge drawdown, not sure anymore if the ea is actually gonna be profitable over a longer term. Seems very risky
 

ticksquick

Private, 1st Class
Messages
26
The reason for the big draw down is that this EA uses a Martingale strategy, and this logic will eventually blow up any account.
 

Finserv123

Private, 1st Class
Messages
38
Firstly, if I look at a scalper. I want to see a small starting account. A couple of 100$. Secondly, I dont want to see Multiple trades open of the same currency as a scalper should trade one trade and take profit with a stop loss. Thirdly, I dont want to see lot sizes increasing as this constitute some sort of Martingale or grid. I did not look into details as this is where my analysis stops.
 

sloth011

Recruit
Messages
8
Verdict from the last couple of days, it opens up a lot of trades for the same pairs at different position, which ends up in a quite large loss in the end, this EA is definitely gonna end up blowing your account. Also it seems to be using martingale strategies. For anyone thinking of using it, don’t, for now at least, and wait for a longer testing term.
 

sloth011

Recruit
Messages
8
Is this any good
It’s been working for me only for a couple of days, as discussed in the last few posts, apparently it uses quite risky strategies which ended up in quite large losses over the past week. Also, there’s not been any trades for the last two or three days.
 

Finserv123

Private, 1st Class
Messages
38
Look, I have traded a an Ea that I tested for 6 months. I traded it for 3 months. I took 3000$ to 15000$ in 3 months. It happened in 2016. The EA could easily manage 300pips. But it was the Jacksonville simposium and XAUUSD moved 700pips. I blew my account. Never say an EA works for a couple of days. Believe me, when I say.: Look at the characteristics and the % risk it trades. You can go through the same exercise i have gone through. According, to me and my current feeling, There is no EA that adjust to all m,arket conditions over time. That is why I will rather choose an EA with some sort of Breakout strategy. And dont trade an EA if you dont understand the strategy. My opinion, though.
 
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