Well it is now Oct 1 and after a hell of a roller coaster I am throwing in the towel.
In retrospect I will say this for Lion FX, it has a lot of promise and I am sure with some fine tuning it will be a good one.
The biggest problem is that it gets to many trades open at once and the stop loss can not be set manually. The EA decides to close trades based only on indicators and that can be dangerous because indicators can 'ride the line' for hours before giving a signal to close the trade and that can and will cost money.
I have seen it as high as 8 trades deep and still going because the indicators used are riding the line.
It seems to set the next entry at 12 pips apart from the previous one.
So a buy at 1.89750 is sure to have the next trade open at 1.89870
There NEEDS to be a way to limit the number of active trades. There NEEDS to be a way to tell the EA to close a trade after X pips lost.
I will say that this is not a grid EA, a grid EA follows a very specific pattern of placing and closing trades X pips apart regardless of market conditions and this EA does not fit that bill at all.
I think Alex has great customer service skills and his EA shows a lot of promise if he listens to his users and can implement what they want to see.
In closing I will say I am leaving this myFXbook account for any that are reading it and want an unbiased opinion.
That sound you hear is God laughing as he hears traders say "I know for sure what way the market is going".
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