Experts: No Loss EA V2 - No Indicator, No Price Action strategy for MetaTrader 4
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)
Despite my earlier criticisms of v1, I believe this EA is worth further consideration. As long as we maintain the conservative type of settings as per default.
My main reason for saying that is because when I test these default settings with a $5K (not $25K) account on many other pairs, excluding the yen (heavy trending) pairs, the results are positive and accounts are not blown. Largest lot size encountered was 0.6 lot. And in fact result for eurnzd is far better than eurusd (but with a far larger DD, so beware).
However, with default settings for eurusd and account size of $5K, I only realise a profit of $150 in 2023 back test. That equates to only 3% pa which is less than I can get with a term deposit bank account in Australia. So why would I take a risk with trading this EA? The max DD however is only some $350 so I could conceivably trade on a $2500 account and realise a 6% pa return. Still not much better than a term deposit return with zero risk.
To me, 2% pm or around 30% pa is what we should aim for in forex trading. So I think we need to find some better settings without increasing DD too much (say a 30% limit) and ensuring that our chosen settings work for many other non-trending pair. Testing an optimised strategy on many different pairs is the best sort of out of sample testing that we can do in my view.
We seem to have one missing Input variable in version 2. The final setting as shown in the description "CloseAllOrdersifProfitisAbove". Would be nice if we can test the variables for that setting rather than it being fixed at 0.01.
Despite my earlier criticisms of v1, I believe this EA is worth further consideration. As long as we maintain the conservative type of settings as per default.
My main reason for saying that is because when I test these default settings with a $5K (not $25K) account on many other pairs, excluding the yen (heavy trending) pairs, the results are positive and accounts are not blown. Largest lot size encountered was 0.6 lot. And in fact result for eurnzd is far better than eurusd (but with a far larger DD, so beware).
However, with default settings for eurusd and account size of $5K, I only realise a profit of $150 in 2023 back test. That equates to only 3% pa which is less than I can get with a term deposit bank account in Australia. So why would I take a risk with trading this EA? The max DD however is only some $350 so I could conceivably trade on a $2500 account and realise a 6% pa return. Still not much better than a term deposit return with zero risk.
To me, 2% pm or around 30% pa is what we should aim for in forex trading. So I think we need to find some better settings without increasing DD too much (say a 30% limit) and ensuring that our chosen settings work for many other non-trending pair. Testing an optimised strategy on many different pairs is the best sort of out of sample testing that we can do in my view.
We seem to have one missing Input variable in version 2. The final setting as shown in the description "CloseAllOrdersifProfitisAbove". Would be nice if we can test the variables for that setting rather than it being fixed at 0.01.
Thanks for your feedback! I appreciate your thoughts and will make sure to consider all your suggestions in the next version.
It’s great to hear that the conservative default settings are working well for you on non-yen pairs, and I’ll definitely look into improving the balance between returns and drawdown.
And I agree, aiming for around 2% per month or 30% per year makes sense. I’ll work on adjusting the settings to aim for better returns without increasing the risk too much.
also, I'll definitely include the missing "CloseAllOrdersIfProfitIsAbove" setting in the next update, so you can test different values.
Thanks again, and I’ll keep you posted on the next version!
OK, thanks for the response.
One other feature you may want to consider.
If I understand Steps 3 to 6 correctly, then it would appear that if the market starts trending against the open Sell trades, the open Buy trades will be closed in profit but then no new Buy trades will be entered until the Sell basket can be closed in profit. To me that means we are missing out on additional profitable Buy opportunities whilst price is going against the open Sell trades; ie an uptrend.
So say we have three open Sell trades in loss position and we enter another 7 (Max Sell set to 10) Sell trades spaced 50 pips apart, that is a whopping 350 pips move without opening any Buy trades.
If all of this is a correct assumption about the workings of this EA, then it could be worthwhile having a setting that allows additional Buy trades to be taken while a losing basket of Sell trades in this example is being formed. That would help to reduce the drawdown (DD).
Something like "Allow counter-trades whilst basket is in DD". Either in fixed (minimum) lot size or progressive lot size, true/false.
For your consideration.
OK, thanks for the response.
One other feature you may want to consider.
If I understand Steps 3 to 6 correctly, then it would appear that if the market starts trending against the open Sell trades, the open Buy trades will be closed in profit but then no new Buy trades will be entered until the Sell basket can be closed in profit. To me that means we are missing out on additional profitable Buy opportunities whilst price is going against the open Sell trades; ie an uptrend.
So say we have three open Sell trades in loss position and we enter another 7 (Max Sell set to 10) Sell trades spaced 50 pips apart, that is a whopping 350 pips move without opening any Buy trades.
If all of this is a correct assumption about the workings of this EA, then it could be worthwhile having a setting that allows additional Buy trades to be taken while a losing basket of Sell trades in this example is being formed. That would help to reduce the drawdown (DD).
Something like "Allow counter-trades whilst basket is in DD". Either in fixed (minimum) lot size or progressive lot size, true/false.
For your consideration.
Thank you for your feedback!
You’ve made a very valid point.
I’ll definitely consider adding this feature in the next update of the EA. It would provide a more dynamic trading strategy and optimize profit potential, even in unfavorable market conditions.
Thanks again for your valuable input!
hi can these EA works with any currency pairs? how about xau? any recommended timeframe and lot size for the EA to work well? Thx
Hi,
I highly recommend using it with EUR/USD for optimal performance. Since the EA doesn't rely on any indicators, you can use it on any timeframe that suits your strategy.
Lot size depends a lot on your account balance and risk tolerance, so make sure to adjust it accordingly. Also, when backtesting, make sure to set the spread settings to "current" to get more accurate results, especially when using XAU, as the spread can vary significantly.
I strongly advise you to backtest the EA thoroughly with different settings on your chosen pairs, timeframes, and lot sizes before trading live. This will help you understand its behavior and make an informed decision based on your preferences and account size.
Thank you for your feedback!
You’ve made a very valid point.
I’ll definitely consider adding this feature in the next update of the EA. It would provide a more dynamic trading strategy and optimize profit potential, even in unfavorable market conditions.
Thanks again for your valuable input!
Just thinking this idea through a bit more, my suggestion of possibly having a progressive lot size for the counter trades, is probably suicidal.
Better to stick to the same starting lot size of original trades, ie 0.01 lot in the example. What is probably more important is to work out what the best closing option is.
eg, a settable fixed TP for each counter trade, or a basket closure for just the counter trades, or perhaps best of all, a complete basket closure feature (ie both buys and sells) whenever both original and counter trades are open.
After all, when counter trades are open, and given that they are of smaller lot size than the progressively larger original trades, it should enable a profitable basket to be closed more easily.
The other feature/setting I forgot to mention in my earlier Post, is to be able to specify when the counter trades should start. eg after third progression in the Fib sequence of lot size. Or as a multiple of the Spacing specified.
Eg if Spacing of trades has been set at 50 pips, then counter trades could be set to start at multiple of say 3, ie 150 pips.
Will be fascinating to see if and how that could be implemented and indeed if it can lead to better performance.
I have been using this EA for past few days. Could anyone please tell me should we keep gap in Pips as less or high. Which would be more beneficial for an intraday trading.
Depends in part on the pair you are trading. Most pairs have an average daily range of well less than 100 pips. So if you want to trade intraday then it would seem logical that the gaps have to be kept small so that you can have multiple entries within the day to get you out of trouble with a basket close. But then again, you don't want to have to many entries since lot size increases rapidly with this marty system and if the trend goes against you big time, consequences will follow. So do your testing with Strategy Tester.
Just my thoughts....
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No Loss EA V2 - No Indicator, No Price Action strategy for MetaTrader 4:
"This is the Updated version of NoLoss EA" - As most of the indicators available in the market are lagging indicators that provide information after some time. This strategy eliminates the need to rely on indicators, candlestick patterns, chart patterns, or any price action. The EA employs a progressive system.
Author: Kommoju Sahityananda Devi