What do you think about this EA?

Hi guys,

What do you think about this EA?
https://www.myfxbook.com/members/applesia1990/trendscalpingea/1235239

287 trades throught last 3 months without single losing trade. Need to say i haven't seen such performance yet.

Looks good. Maybe some sort of grid that closes trades in profits and holds the losses indefinitely. Time will tell.

RedRhinoLab could be right. Heavy equity drop on Friday (USD spike after US data publication), recovered on Monday. One big rally against taken positions and account is burned. As Joe DiNapoli said 'All non-judgmental systems eventually fail (stop making money). Your hope is to be using one while it is working.'

Look at Advanced Statistics --> Summary. This EA trades NZDUSD long (!!!) and GBPJPY short (!!!). How could it be named anything but 'TrendScalping' :) Looks like it holds losing trades on EURGBP, NZDUSD and maybe other pairs too. Just imagine if they launched it one month later. There'll be no equity in few days...
Here is similar EA, also constant profits but holds losing trades forever thus equity not growing but stable:
https://www.mql5.com/en/signals/104308#!tab=trading

Guys, don't know how much normal trading system delivers per year (would say around 20%, if it's good year, correct me if i'm wrong), but that trendscalpingea delivers 50% in average per month! I don't how you, but i would rather undergo higher risk, then to stay poor for the rest of the life.

@ovo_sapiens what's wrong trading NZDUSD long (oversold) and GBPJPY (overbought) now? Both offer good reward/risk opportunities.

JojoW posted:
@ovo_sapiens what's wrong trading NZDUSD long (oversold) and GBPJPY (overbought) now? Both offer good reward/risk opportunities.

Nothing wrong. But look at this EA as a whole, not just at growth graph:
- Best Trade (Pips): 49.0
- Average Win: 22.09 pips
- Maximum Drawdown: 57.30%
- Drawdown yesterday: 39%

In my opinion this system risks everything (no SLs at all) in order to scalp small retracements in main trend. In case they launched this system not at the end of April but between May 20 and June the 1st, this account will survive 3-10 days with max. profit 10% then equity down to 0. Risk not acceptable for me. Wait for FOMC decision next week, we'll see what this EA will show the day after. Best EA from signaltrader.com - SignalCable reached 500%+ profit then lost everything in one week. And there were about 2000 followers of its signals...

@applesia1990 your EA kicks ass, 400% in 3 months WAU WAU WAU 😂

As I predicted: drawdown 69% and counting (despite so many winning positions). It holds losing positions forever. If trend doesn't change, only few days left...

Also trading live with 'straight line EA's'
I just can't get my growth % on that level. It considerately increases risk.

Even if the account will be gone, with 400% profit earned, that trader can open new 3 accounts. 😄

Some work on max DD is necessary

just another rubbish grid trading system, doomed to fail

70% DD... 😲

Disaster waiting to happen...