Experts: No Loss EA - No Indicator, No Price Action strategy for MetaTrader 4

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No Loss EA - No Indicator, No Price Action strategy for MetaTrader 4:

This strategy eliminates the need to rely on indicators, candlestick patterns, chart patterns, or any price action. This EA employs a progressive system that I have been using for the past six months and have backtested for over three years.

No Loss EA - No Indicator, No Price Action strategy for MetaTrader 4

Author: Kommoju Sahityananda Devi

 

The title says "No Loss" The description says " Trading involves risk, and this EA is not a guarantee of profit." what a joke

 

  1. Fifty percent (50%) drawdown. One more and it would have been a total account loss. And that was only five (5) in a row; you will see ten (10) easily.

  2. Martingale is not a strategy. It's a betting system.

    Hedging, grid trading, same as Martingale.
              Martingale, Hedging and Grid : MHG - General - MQL5 programming forum (2016)

    Martingale, guaranteed to blow your account eventually. If your strategy is not profitable without, it is definitely not profitable with.
              Martingale vs. Non Martingale (Simplified RoR vs Profit and the Illusions) - MQL5 programming forum (2015)

    Why it won't work:
              Calculate Loss from Lot Pips - MQL5 programming forum (2017)
              THIS Trading Strategy is a LIE... I took 100,000 TRADES with the Martingale Strategy - YouTube (2020)

 
"After reviewing the description, I've formed a few opinions that I'd like to share: Firstly, it seems the coder might be new to MQL5. In my opinion, it would be more appropriate to use a 'disclaimer' instead of labeling it as a 'Note.' Secondly, the idea appears reasonable. The coder implemented Febo calculations instead of employing a martingale strategy. Additionally, they provided an option to determine the number of steps, allowing users to set their limits based on their balance. This flexibility empowers us to decide what suits our financial situation best. Thirdly, the indicator is explicitly stated as suitable for range markets. This information allows us to estimate the number of pips per step, aiding in strategy formulation. Fourthly, the take-profit feature doesn't rely on pips; instead, users can select an amount. When the profit reaches that specified amount, all deals on one side are closed. This approach provides flexibility in profit-taking strategies. Fifthly, the strategy seems reasonable. It's important to note that there isn't a strategy that guarantees 100% protection against losses. Lastly, I plan to try this on my InstaForex account on Monday and will share the results here. Please note that these are solely my views and not intended as advice or criticism toward anyone."
 
Thanks for the EA. I am searching this type of EA from last few days. Thanks once again. I will try this EA.
 
A small request .. If you make it single sided and following an indicator for trend, like super trend or some moving average, it will give good result. I will be happy , if you prefer to update it with my suggestion please.
 
Virat #:
A small request .. If you make it single sided and following an indicator for trend, like super trend or some moving average, it will give good result. I will be happy , if you prefer to update it with my suggestion please.

Sure, I will try to code it next. Thank you For your Suggestion :)

 
spiritual3 #:
Thanks for the EA. I am searching this type of EA from last few days. Thanks once again. I will try this EA.

Thank you for checking my EA. If there are any suggestion please do tell me :)

 
Chainya Om #:
"After reviewing the description, I've formed a few opinions that I'd like to share: Firstly, it seems the coder might be new to MQL5. In my opinion, it would be more appropriate to use a 'disclaimer' instead of labeling it as a 'Note.' Secondly, the idea appears reasonable. The coder implemented Febo calculations instead of employing a martingale strategy. Additionally, they provided an option to determine the number of steps, allowing users to set their limits based on their balance. This flexibility empowers us to decide what suits our financial situation best. Thirdly, the indicator is explicitly stated as suitable for range markets. This information allows us to estimate the number of pips per step, aiding in strategy formulation. Fourthly, the take-profit feature doesn't rely on pips; instead, users can select an amount. When the profit reaches that specified amount, all deals on one side are closed. This approach provides flexibility in profit-taking strategies. Fifthly, the strategy seems reasonable. It's important to note that there isn't a strategy that guarantees 100% protection against losses. Lastly, I plan to try this on my InstaForex account on Monday and will share the results here. Please note that these are solely my views and not intended as advice or criticism toward anyone."

Thank you for the Detailed comment. Next time I will definitely write Disclaimer instead of Note. If there are any more suggestions please do tell me.

 
Backtesting data quality is so low that results can't be trusted at all.
Download correct data and test again, you will be surprised(mostly in a bad way).
 
Chainya Om #:
"After reviewing the description, I've formed a few opinions that I'd like to share: Firstly, it seems the coder might be new to MQL5. In my opinion, it would be more appropriate to use a 'disclaimer' instead of labeling it as a 'Note.' Secondly, the idea appears reasonable. The coder implemented Febo calculations instead of employing a martingale strategy. Additionally, they provided an option to determine the number of steps, allowing users to set their limits based on their balance. This flexibility empowers us to decide what suits our financial situation best. Thirdly, the indicator is explicitly stated as suitable for range markets. This information allows us to estimate the number of pips per step, aiding in strategy formulation. Fourthly, the take-profit feature doesn't rely on pips; instead, users can select an amount. When the profit reaches that specified amount, all deals on one side are closed. This approach provides flexibility in profit-taking strategies. Fifthly, the strategy seems reasonable. It's important to note that there isn't a strategy that guarantees 100% protection against losses. Lastly, I plan to try this on my InstaForex account on Monday and will share the results here. Please note that these are solely my views and not intended as advice or criticism toward anyone."

Any code in the CodeBase section is already part of a "disclaimer".

Please read the section header carefully:

You don't know where to start learning the MQL5 or MQL4 programming language? Various programs for your MetaTrader terminal are available here. Download and study published code examples, develop your own indicators and Expert Advisors. Publish your applications in the largest library of MQL5 and MQL4 codes, and they will be available in every MetaTrader terminal and MetaEditor.

Your code examples in MQL4 and MQL5 will be distributed worldwide, and thousands of traders will know about you!

Even the Market section (that can cost thousands of dollars) products start with a disclaimer. No EA can ever promise profits, ever, as past profits do not guarantee future profits.

If someone thinks they can just download an EA from CodeBase, put it to work, and watch their account balance go up, they have little appreciation for their money.

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