3-May-2020
I backtested it for 2 months on several Pairs finding out some very suitable configuration in order to minimize correlations and distribute risks.
Actually it's running in demo since 3 weeks ago and results are 100% comparable to backtesting.
I'll run it in live within 2 weeks and will update my Review.
I should say Author is always ready to answer and the EA is 100% meeting my expectations!!
---------- 1 Dec 2020: UPDATES ----------
Have been using this EA for 6 months in Live so after a while I can definitely tell my opinion.
Starting form the last question: Am I happy? Yes I am.
But looking to some details here is my complete review/experience:
- I had good result with EURUSD, GBPUSD, XAUUSD, XAGUSD. I am looking forward for new Pairs in order to distribute risk.
- Let me say my Goal is to gain 40-80 pips per Trade. So very small profit with very short Trade duration. Running this EA on 3 Pairs will open several trades per day, in my case 383 Trades in 3 months. So in my experience.. very small profit every day. To be honest I never faced a loss with this 4 Pairs actually *talking about cumulative Loss, EA open several Trades in a short time and close all of them when the SUM is Profit). Avg Trade duration: 15 min for 50% of my trades.
- EA has several strategy (I didn't checked them all yet) but Stochastic & Envelops seems to be the best. In my opinion.
- CAREFULL with DD%!! Because of his "grid" systems you may face DRASTIC DD%. I faced 12% Equity DD% BUT, in middle August (when Gold dropped down 10% in 2 days), I also met 45%DD in Equity. Drastic case but can happen.. and you could see your Account blow-up if don't manage Lot size carefully.
- Issues in backtesting. Don't know if is my fault guys.. but because EA backtest with Open-bar, because timeframe is M5, because of something else.. result in Backtest looks pretty different from Live. Live got me more Profit but also an increased Equity DD%.
I think this is enough.
I'll update my review once I'll gather significant information to share.
Happy Trading!
Another great EA from Michael. This one has an even longer list of separately optimizable strategies than Dragon. It also has a useful hedging strategy built in. I use this now on my non-US accounts and Dragon on my US broker. So far I'm very happy with the performance, and as always Michael is great to work with.