Controlling number of lots on the Multi Lot Scalper

[rbowles]

I have been backtesting the multilot scalper. It seems like it can be very profitable. As you would expect the more profitable something is the more risky it is. Since it seems like it is very risky I really want to know what it is doing behind the scenes. Can someone please give me a basic summary of how this EA works. If possible can you let me know what each of the input variables are designed to do. I apologize if this question has already been addressed. I read quite a bit of posts on this EA and could not find an answer to this question.

I am most interested in controlling the number of lots placed. I found a variable that controls the number of lots that are entered. I modified it to 2. That only appears to keep each individual order below 2 lots. It continues to put in order after order after order that are all under 2, however the total position maxes out the account. If there is a variable to control that I would be interested. If I take a big hit at least it will only be a controlled amount of lots or percentage of the account.

Thanks in advance randy

[psperos]

Ever try and double down at a casino to make back a previous loss? this is exactly what this ea does. If a position is losing it buys twice the amount of the prevous trade, i think its every 10 pips, and makes it all back on the next swing. It's very agressive. The EA bases the trade direction on a daily pivot.

I'm in the process of foward testing this on the USDJPY, so far so good, the demo went from 5000 to 6800 in 2 1/2 days but i'm waiting for the pair to go through some large swings to see how the EA handles it. Last few days the USDJPY has gone straight up, which is perfect for this type of trading.

I am also foward testing this EA on EURUSD with a cap on 3 max trades instead of 5 to see how changing the risk reward changes the results. I had to edit this in the code because applying the settings did not seem to do anything. I just started running this one last night.

My guess with this EA is the success of this will be based on the luck of time when you start it. If you can get a few good runs in a row to pay for some drawdown right off the bat it might work out in the long run.