The whole EA market seems to work like this. You have to purchase an EA, have more or less 30 or 60 days money back guarantee.
Better would be, if demo accounts and backtests would be for free, without any money flow. So one can make a decision based on its own tests.
This would kick out all the scammers.
In the case of FXCharger this is a matter of taste. My backtests shows drawdowns every 2 to 3 years. Which is not suprising as it's using martingale technologies and will happen with mathematical certainty. The drawdown is limited by the risk you choose. So default value is 35%. If it's profitbale overall then, I don't know, but at least it won't crash your account.
HedgeEdge posted: Their AUDUSD version of this crashed to zero... whooops.
Didnt I say so?
vontogr (togr) Jun 15 at 13:52 togr posted: It is clear martingale. All martingale ends up badly You can never say when and that is the key. It can end up badly very next week you use it on your account... 11.21.2016 14:15 11.23.2016 07:11 AUDUSD Buy 2.30 0.73746 0.74305 55.9 1289.88 1d 9.53% 11.22.2016 14:15 11.23.2016 07:11 AUDUSD Buy 3.45 0.74059 0.74305 24.6 851.84 16h 56m 5.75% 11.18.2016 14:15 11.23.2016 07:11 AUDUSD Buy 1.53 0.73913 0.74305 39.2 603.93 4d 4.67% 11.11.2016 14:15 11.23.2016 07:11 AUDUSD Buy 0.20 0.75868 0.74305 -156.3 -310.79 11d -2.09% 11.16.2016 14:15 11.23.2016 07:11 AUDUSD Buy 0.68 0.74769 0.74305 -46.4 -311.18 6d -2.29% 11.14.2016 14:15 11.23.2016 07:11 AUDUSD Buy 0.30 0.75505 0.74305 -120.0 -357.56 8d -2.46% 11.17.2016 14:15 11.23.2016 07:11 AUDUSD Buy 1.02 0.74660 0.74305 -35.5 -358.38 5d -2.70% 11.15.2016 14:15 11.23.2016 07:11 AUDUSD Buy 0.45 0.75615 0.74305 -131.0 -586.22 7d -4.13%
and account gone!
Hello, Well, you said it almost year ago 😄 As you can see our EURUSD version still trades very good and AUDUSD was too, until these days. But yes, AUDUSD pair had really bad trend for us and unfortunately we was trades with all our deposit, not as we recommend to our client's. We trade with such risks, because it requires from us by community. Nobody interested in systems, that makes 5-10% monthly, but with very reliable trading - unfortunately 😞 Just need to specify risk 20-30% in EA and your account will be always fine.
MicF posted: Actually, there are a couple economists awarded for noble prices, why trading at all can't be successful. Eugene Fama, Robert Merton, Robert Shiller (all separate prices and years)
And a lot of studies, that traders never beat the market in long term. e. g. the monkey study
So why should an EA can do it? In the end an EA is the monkey of upper mentioned study ;-)
So I rather have my monkey trading, as I know I'm not a lucky trader.
I agree many cannot make it in trading. I've blown a few accounts myself. It seems most successful traders do not participate in forums like MFXB. Its mostly losers posting. In any case, having MFXB you can compare systems and see who does the best for the time being. You can follow them, and when they start to flame out, get out quick.
pipsquick1957 posted: Risk control or not, this is a very aggressive and dangerous Martingale EA, where you have it trading at an increase of 400% per trade. It starts at 0.1, then up to 0.4, then 1.6, then 6.4 lots, then what 25.6 lots, its very easy way to blow any account up.
Generally speaking a Martingale system increases lot sizer from between 50-100% per trade against the trend, this one is running at more than 4x the normal Martingale increase in lot size.
Hello. Yes we have 4x multiplying on each trade (at EURUSD pair), but the fourth order is final. On this account we trade with 100% risk, that is why these lots looks a little bit scary. For example AUDUSD settings has x1.5 multiplying only.
ooups! Your extra safe settings for AUDUSD didn't help and you blown up your account :) When will you wipe out your last EURUSD account??? It's matter of time.
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