Before Buying Expert Advisor
Before Buying EA do the below analysis while testing the EA. Don't get impressed by seeing 15 digits profit on investing 3 digit money. Know the ground realities : )
- Find out whether EA is using Martingale. For example if you see loss on first order then 2nd order should not have lot size more than first order. Tghis means trader is using Martingaly style.
- Lot size getting increasing if last order is in profit (this is the sign of Good Expert Advisor)
- See whether stoploss is being implemented in EA. After opening of order it should have modification so as to set Stoploss.
- There should be a drawdown for EA. Zero drawdown means EA is not setting stoploss which may loose your entire capital on wrong move.
Your 1st and 2nd statements (in RED) are incorrect.
Hi Raptor
How can we find out that EA is using Martingale strategy.
Hi Raptor
How can we find out that EA is using Martingale strategy.
You're correct. But they're still very (too) basics rules... It's not that difficult to find out martingale.
Folks: please avoid martingale.
Hi Raptor
How can we find out that EA is using Martingale strategy.
Why you don't like martingale?
a martingale strategy, with low initial lot and a very comfortable free margin is a good EA in my opinion.
Why you don't like martingale?
a martingale strategy, with low initial lot and a very comfortable free margin is a good EA in my opinion.
I think a martingale strategy, with low initial lot and a very comfortable free margin will have less returns on investment.
I used what I deemed a good EA. Tested it for 6 month. It had a return on investment between 6% to 10% monthly. It used Martingale. I run good on a live account for approx 1 year. Then the long drawdown on the euro came along
Busted the account. Lost a bundle of real money.
Martingale? No way! A good EA DO NOT NEED Martingale. Period!
I used what I deemed a good EA. Tested it for 6 month. It had a return on investment between 6% to 10% monthly. It used Martingale. I run good on a live account for approx 1 year. Then the long drawdown on the euro came along
Busted the account. Lost a bundle of real money.
Martingale? No way! A good EA DO NOT NEED Martingale. Period!
martingale is a killer strategy, it is sure to ruin you one day. Go and google on Signals for <Link removed by moderator> - it is a live example on MQL5. Any EA based on martingale is worst EA.
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Before Buying EA do the below analysis while testing the EA. Don't get impressed by seeing 15 digits profit on investing 3 digit money. Know the ground realities : )