Profitable EA 5min Scalper EA free download

[ak476680]

yes I think so, I think more than 30%dd is already very risky

 

[King.Byro]

I'm new to all these EA's and suffered many losses with various companies claiming to be consistently profitable month after month, so really interested in doing my own thing - I have Lifechanger EA at the mo with custom settings from someone I met on Facebook - this returns around 6% PM and been going for 5 months now with now big dramas.

i will say, i AM NOT a fan of huge dd, so 30% is more than enough for me

 

[centy]

Pls be kind to give update on the ea behaviour

Doee it really trades on only fxopen account, is the money management mitangale? There are things to be concerned about

 

[cchong]

Pls be kind to give update on the ea behaviour

Doee it really trades on only fxopen account, is the money management mitangale? There are things to be concerned about

Hi, I think I have answered your questions earlier. Please see my other comments in this thread to find out more details. In short, no this EA does not limited to FxOpen broker only, it should work with other brokers I think, at least I know for sure that it works for Roboforex too, and I don't think it is using martingale but rather some kind of grid trading strategies or so. I might be wrong but that's my own observation and guesses are for now.

 

[cchong]

I'm new to all these EA's and suffered many losses with various companies claiming to be consistently profitable month after month, so really interested in doing my own thing - I have Lifechanger EA at the mo with custom settings from someone I met on Facebook - this returns around 6% PM and been going for 5 months now with now big dramas.

i will say, i AM NOT a fan of huge dd, so 30% is more than enough for me

Thanks for your feedback and comments. Ya big DD is not a fun thing at all with all traders.

As for Life Changer EA, good to know that you are doing well consistently with 6% monthly profit, for me my settings could generate around 20% monthly profits or so. If you are interested to know more, you may check on my comments shared on the Life Changer EA as I need to respect this thread is not for Life Changer EA.
Here's the link to that EA discussion: https://www.forexforum.co/threads/life-changer-ea-full-version.2226/page-79 (scroll over to 11th Aug 2021 for my sharing on settings that I use for your interest and info).

Wish you all the very best with your testings. Take good care and God bless.

 

[King.Byro]

Thanks for your feedback and comments. Ya big DD is not a fun thing at all with all traders.

As for Life Changer EA, good to know that you are doing well consistently with 6% monthly profit, for me my settings could generate around 20% monthly profits or so. If you are interested to know more, you may check on my comments shared on the Life Changer EA as I need to respect this thread is not for Life Changer EA.
Here's the link to that EA discussion: https://www.forexforum.co/threads/life-changer-ea-full-version.2226/page-79 (scroll over to 11th Aug 2021 for my sharing on settings that I use for your interest and info).

Wish you all the very best with your testings. Take good care and God bless.

Thanks mate - very kind of you, I'll go take a look

 

[cchong]

Thanks mate - very kind of you, I'll go take a look

You're most welcome. Keep up the good work and wish you all the best. God bless.

 

[centy]

i just backtested it on several time frame on eurusd. not profitable

 

[Xila]

Does it mean that we must open a FxOpen Broker in order to use this EA?

One more thing, when I tried to set it up on MT4 account, no trades placed and a message just showed up on MT4 chart saying "This EA works best on FxOpen Broker" (please see screenshot for View attachment 17486proof). Does it mean that we must open a FxOpen Broker in order to use this EA?

 

[cchong]

Does it mean that we must open a FxOpen Broker in order to use this EA?

Thanks for the question. The answer to that is "No". It just says that it "works best" with FxOpen Broker. That's all. I believe you can choose whatever broker that you like, it's entirely up to your own choice.

 

[cchong]

i just backtested it on several time frame on eurusd. not profitable

Thanks for sharing backtest results on this EA. However, there are two things for your and others info as follow:
1. The recommended currency pair to be used is not EURUSD but GBPUSD. Recommended Time frame is M5.
2. It seems more obvious to me that this EA does perform much better with FxOpen broker. I'm currently testing two brokers with this EA, namely: Roboforex and FxOpen. For Roboforex, the EA didn't perform consistently earning profits, sometimes it earned and sometimes it lose. But for FxOpen broker account, the balance and the equity seems to gradually growing overtime. That tells me one thing, I think the statement shown on the MT4 chart is true, this EA works best with FxOpen Broker. If anyone wants to try this EA, my suggestion for you would be to try it with two different brokers, namely: FxOpen Broker and one other broker of your choice. Just wait for one week or more and try to compare the results to see their differences.

Here are some screenshots of using two different broker accounts with the same EA just for your info as follow:

1. 1st and 2nd screenshot are with Roboforex account
2. 3rd and 4th screenshot are with FxOpen account
Both accounts are using exactly the same settings as follow:
Deposit: $1000
Leverage: (1:1000 used for Roboforex, 1:500 used for FxOpen)
Time Frame: M5
Currency pair: GBPUSD
Settings:
Use the given set file but reduce the risk value from 85 to 30
The rest of the settings remain as default.

Note: By looking at the screenshots I believe you would notice that there is such a huge difference in the results between the two broker accounts. In short, if you are really interested to test out this EA, then I think you should really choose FxOpen as your broker in order to gain the best possible result. That's my thought to share for your info. Wish you all the best in your testing, take care and God bless you all.

Blessings,
Chong.

 

[sipud123]

fantastic ea.,, small drowdown,.
u have file mq4.,.

 

[cchong]

fantastic ea.,, small drowdown,.
u have file mq4.,.

I only have .ex4 and not mq4 file. It was downloaded from this thread. Maybe the owner of this thread have the mq4 file. You may try to ask from him if you wish to.

 

[albertomelas]

Thanks for sharing backtest results on this EA. However, there are two things for your and others info as follow:
1. The recommended currency pair to be used is not EURUSD but GBPUSD. Recommended Time frame is M5.
2. It seems more obvious to me that this EA does perform much better with FxOpen broker. I'm currently testing two brokers with this EA, namely: Roboforex and FxOpen. For Roboforex, the EA didn't perform consistently earning profits, sometimes it earned and sometimes it lose. But for FxOpen broker account, the balance and the equity seems to gradually growing overtime. That tells me one thing, I think the statement shown on the MT4 chart is true, this EA works best with FxOpen Broker. If anyone wants to try this EA, my suggestion for you would be to try it with two different brokers, namely: FxOpen Broker and one other broker of your choice. Just wait for one week or more and try to compare the results to see their differences.

Here are some screenshots of using two different broker accounts with the same EA just for your info as follow:

1. 1st and 2nd screenshot are with Roboforex account
2. 3rd and 4th screenshot are with FxOpen account
Both accounts are using exactly the same settings as follow:
Deposit: $1000
Leverage: (1:1000 used for Roboforex, 1:500 used for FxOpen)
Time Frame: M5
Currency pair: GBPUSD
Settings:
Use the given set file but reduce the risk value from 85 to 30
The rest of the settings remain as default.

Note: By looking at the screenshots I believe you would notice that there is such a huge difference in the results between the two broker accounts. In short, if you are really interested to test out this EA, then I think you should really choose FxOpen as your broker in order to gain the best possible result. That's my thought to share for your info. Wish you all the best in your testing, take care and God bless you all.

Blessings,
Chong.
View attachment 17779View attachment 17780View attachment 17781View attachment 17782

The bot works for you, I want to test it with the XAUUSD I will wait until Monday to test it

 

[cchong]

The bot works for you, I want to test it with the XAUUSD I will wait until Monday to test it

To be honest, this EA performance seems quite unpredictable to me. Sometimes it earns a lot but sometimes it also loses quite a lot. Therefore, I'm not recommending this EA for anyone at all at this moment. Wish you all the best in your tests. Just make sure to use demo account only for your safety. Take care and God bless.

 

[cchong]

Last Updates on 14 SEPT 2021:
Dear all, just to inform you that I have decided to stop testing this EA due to the following reasons:
1. Just as I've shared in my previous post, I have discovered that the performance of this EA is very unstable and unpredictable. The equity and account balance sometimes could go up a lot and go down a lot too. This appeared to me that this EA is not as reliable as I thought it would be.
2. One thing I now know for sure is that this EA only works better with FxOpen Broker. I believe if you try to use other broker (in my case I use Roboforex), according to my observation in my own tests for a one to two weeks time, I noticed that the account balance gradually decrease instead of increase. That tells me one thing, this EA is gonna make you lose money over time if you continue to use other broker and not FxOpen Broker. Having said that, even if you use FxOpen broker, there is no guarantee that this EA is going to earn money for you in the long run. I say this because I haven't tested this EA for months but weeks, maybe those of you who has tested it for 3 months or more could feel free to share your results and your settings with us so that if anyone wish to continue to test this EA could benefit from your kind sharing.

Okay I guess that's all I could share with you all. Wish you all the best. Again this will be my final sharing and thoughts about this EA. No more. Take good care everyone and God bless. Bye.

 

[suwasdie]

Any advise for newbie user? I mean for this kind of EA. Is it recomeded? or what?

 

[cchong]

Any advise for newbie user? I mean for this kind of EA. Is it recomeded? or what?

Thanks for asking. May I humbly share my own thoughts with you and everyone as follow:
If you are talking about this particular EA in this thread then my answer is NO (not recommended by me at all).
If you are talking about any other EA, then my answer is "I don't know". What I do know is that from my past experiences of testing EAs, there is no such thing as a "Perfect EA" that is guaranteed to be 100% working well forever. The market as we all know is always keep changing and so unpredictable, I don't think that there is any "One" single solution to every problem. Having said that however, one thing that I've learned and still learning even until this day is, whatever EA that you are using or plan to test or use, you would need to learn how to limit your risks by learning how to manage them well so that when the market suddenly turns against you, there is a greater chance that you could survive the impact(s). Many people focus too much only how to earn bigger profits instead of how to keep themselves "safer" by learning to limit their risks. One of the mistakes that many traders (especially beginners) made was to use a lot size that is too big, typically when they use a small account balance of just $100 and they choose to use a lot size of 0.01, that was usually one of the main reasons why their accounts got blown up. Some EA recommends to use 0.01 lot for $1000 or even $10000. Every EA behave differently and requires different conditions in order to work. Some are just scam EA or useless or unstable EA that are simply unreliable. Therefore, to know the real truth of any EA is to spend time to test them out over a longer period of time (not just days but weeks or months, the longer the period the better it is for you to see a more realistic picture) with all sorts of different approach and settings to see how they really work and what are the settings that works well or does not work at all.

Again, there is no such thing as a perfect EA. Every EA is risky in my opinion. Therefore, learn to manage your risks first before you could talk about whether you could make some good money out of EA trading. Simple as that.

Wish everyone (including all newbies) the very best in your testing and EA trading journey. Whatever you do, make sure to learn how to be safer and try to stay safe at all times. Because if you can't manage your risks well, it doesn't matter how much profits you were able to earn in the past, soon or later you will surely lose all your profits and even blow up your account(s) within just one single night or day. It's that simple. Take good care everyone and God bless.

 

[deadly4x]

One more thing, when I tried to set it up on MT4 account, no trades placed and a message just showed up on MT4 chart saying "This EA works best on FxOpen Broker" (please see screenshot for View attachment 17486proof). Does it mean that we must open a FxOpen Broker in order to use this EA?

looks that way. that just throws a red flag for myself

 

[onon]

Can be be profitable? What kind of account is needed?