Merlin Golden Marathon
This EA is trained to trade the pair GOLD-USD on 1-hour candles.
Back-testing conditions: GOLD-USD
- Lot size at most 0.1 per USD1.000 equity
- 1 Hour candles
- Account currency USD
- Leverage 1:100
- Initial balance USD20.000
- Period 2021-02-01 to 2021-06-30
- Maximum spread 15 points
- Server ping 106 milliseconds
- Server trade hours: 07:00 to 14:00
Back-testing results: GOLD-USD
- 575 positions, win rate 97,2%
- Average position holding time 36 minutes
- End Balance USD116.346 Net profit 482%
- Maximum balance drawdown 0,08%
- Maximum equity drawdown 10,54%
For best results customers of this EA should use brokers with low to zero spreads and fast/stable server connections.
Current back-testing period is useful for training EAs as it reflects normal and current conditions. It has therefore not been back-tested/trained on the 2017–2020 period that saw market turmoil caused by Covid, trade wars, Brexit talks, etc., unlikely to be repeated. It must yet be stressed that past trading success does not guarantee future success.
Users can deactivate the EA from opening new positions by changing the input properties “BuyAllowed” and “SellAllowed” from “true” (buy/sell allowed) to “false” (buy/sell not allowed). This will stop new positions, while the EA continues to manage open positions. Users can also use integers to set their maximum accepted spread (input property "MaxAllowedSpread").
Account Currency: choose USD for GOLD-USD
By using USD as account currency, the equity, margin and free margin are not influenced by the exchange rate between a non-USD account currency and USD: if a non-USD account currency drops vis-à-vis the USD, you may experience margin calls when trading GOLD-USD. Likewise, if you back-test this EA on a non-USD account currency for GOLD-USD, your results may differ. It is therefore strongly recommend to use this EA only on USD deposit accounts when you trade GOLD-USD.
For reasons of risk management, the EA's default server trading hours (i.e., hours when the EA opens positions) are the last hour of the Asian market session and the European market session. It manages existing positions 24 hours per day. It is strongly adviced against changing these input settings called "ServerFirstTradeHour" and "ServerLastTradeHour" from their default values "7" and "14", respectively.
Default maximum lot size is 0.1 per USD1.000 equity. Depending on the EA’s calculations, it may open positions with lot sizes smaller than the allowed maximum. The maximum allowed lot size per USD1.000 equity can be changed by the input property “MaxLotPerThousandEquity.“
Number of allowed positions
For any 1-hour candle, the EA might open a buy position and a sell position. It allows up to four positions, which may occur if a position from a candle is not closed before the next candle, and the EA opens a position during the subsequent candle.
Stop loss and take profit
Take profit levels are calculated uniquely for each position. Stop loss and take profit levels can be adjusted manually once a position has opened. The EA applies a trail stop that might override your changes.
Manage risks, act as a trader: do not "orphan" EAs
Back-testing is extreme as it reflects an “orphaned” EA trading without human intervention/foresight. However, no algorithm can predict/properly respond to every event. It is therefore strongly advised to use any EA as an “Expert Advisor” where the owner is ready to override the "Advisor" should circumstances require.
For instance, it is prudent to close positions manually if deemed sufficiently profitable or incurring acceptable losses and it is believed that losses will increase if the position is not closed. It is also prudent to temporarily deactivate the EA’s buy or sell functions if it is believed that the GOLD-USD price is nearing a peak or a low, or when market volatilities are taking place/are expected. For instance, every Thursday and the first Friday of the month, the U.S. presents economic statistics at 08.30 local time, which often cause large GOLD-USD price swings: EA users should exercise caution around those and other hours, and closely follow market news and the keep abreast of the "calendar" in MT5. Finally, do not over-leverage, work instead with smaller lots.