I have been running a demo with this EA on both EURUSD and USDJPY in the same account and it has had a gain of 36.5% since 30 Apr - less than 2 months. Rather than the recommended M5 chart, I am running it on H1. I am not using the default settings. On my $1000 demo I use .02 lot for each pair (.04 Lot total). The default 0.1 lot is too much for a small balance. .04 lots per $1000 seems to be a good figure which will keep you out of trouble. I plan to increase lot size .01 for each pair every $500 gain. Rather than the StopLoss 30 and TakeProfit 30, I use SL 25 and TP 35.
I have not determined what criteria the EA uses to enter trades, but it never has more than 1 trade open at a time for a given pair. If it closes a losing trade it will open a trade in the opposite direction for twice the number of lots. It will keep doing that until it hits a winner. I have had as many as 5 losing trades before hitting a winner. With the default settings that would be an overall loss. But with my altered settings the final winner will always be more than enough to cover the losers.
I am using a GoMarkets demo and plan to start trading live with this EA very soon. GoMarkets is a non-dealing desk broker, so you get market execution with no manipulation of trades on opening or closing. The EA might not work as well with a dealing desk broker.
Hope this helps others make some money with this EA.
this bot nearly killed my account. any attempt to contact support, like so many other bot suppliers, was unsuccessful. ran it on default- works out of the box(?) on a .001 lot size it went through ONE HUNDRED DOLLARS in three days. it was like a rabid virus that ate my money and puked out heartache. how some people sleep at night is really beyond me.