I don't want to defend the ea, as I'm also just a user.
The lotsizes in the myfxbook didn't change.
And my account is healthy.
The max risk controls the stop loss, not the lot size
i.e. lower risk setting equals higher chance to loose.
So 100% risk means lower risk to have loosing trade, but if you have it will be final.
What are you saying 'The max risk controls the stop loss, not the lot size' this is completely wrong statement risk is dependent both on lot size and stop loss not only on stop loss. let me the calculate current risk for the open trades of FXCharger for you
Risk Pips=(Open - S/L)*10000=(1.19611-1.05667)*10000=1394.4Pips
Risk Amount=Risk Pips*Pip Value*Lotsize=1394.4*10*0.35=$4880.4
So current risk for Trade-1=(Risk Amount/Equity Balance)*100=4880.4/24,478.44*100=19.93%
Risk Pips=(Open - S/L)*10000=(1.18681-1.05667)*10000=1301.4Pips
Risk Amount=Risk Pips*Pip Value*Lotsize=1301.4*10*1.4=$18219.6
So current risk for Trade-2=(Risk Amount/Equity Balance)*100=18219.6/24,478.44*100=74.4%
So current risk for Trade-1&Trade-2=94.33%
Now he also opens third trade may be lot size of 5.6. The risk is now more than 100% but you can not lose more than 100% so trade going to close before hitting stop loss due to margin requirement.
This is a classic example of how people lose money by trading without risk control.
The market will trade through it’s path of least resistance .