FAQs of BBM3Levels EA
Q: Which currency pairs does BBM3Levels EA work with?
A: With the default input parameter values, BBM3Levels EA works best with EURUSD. It also works with USDCHF using the similar input parameters.
It also works with other currency pairs, such as USDJPY, NZDUSD, EURCHF, AUDCAD, CHFJPY, etc. When working with these currency pairs, it is recommended to optimize the “Min Channel Width” input parameter before running the EA in real accounts.
But the GBP related currency pairs are not recommended now because the Brexit events often brings high volatility to these currency pairs.
Q: I cannot find TP and SL in the opened orders. How does the EA handle the profit and risk?
A: The BBM3Levels EA uses virtual TP and SL to manage the profits and risk.
The “Min Channel Width” input parameter defines the order TP in points. It is also a filter parameter when calculating the volatility of the selected currency pair.
There is a “Max drawdown in percentage” input parameter. Its default value is 20, which means if the floating loss exceeded 20% of the account balance, all the orders opened by the EA will be closed.
Q: How often does the EA trade?
A: The BBM3Levels EA is not a high frequency trading EA. According to the market condition, it trades 10~20 times per month. However, it is normal that it trades less than 10 times a month.
Q: How profitable is the EA?
A: There is no Holy Grail in the market. The EA cannot guarantee to make money for you. But the EA has strict rules to open new positions and try to make less mistakes.
In the backtest on EURUSD last year, the yearly growth is about 900% with high risk settings, the maximum relative drawdown is about 65%. If it is running with default risk, the yearly growth is about 45%, maximum relative drawdown is 11%.
