Free EA - Non Martingale + Fast Scalping - Best free EA ever

[tigerben]

this Multi Lot Scalper EA has been tool one of my favorite. it will you succeed too but first test it on demo before real account

Do you put it on a 1mn timeframe ? What settings do you preconised? Thanks for sharing

 

[Andy4U]

Hey

no trades since Thu, am I do something wrong?

 

[Migoz]

How accurate is this robot??? If anyone has clearly link description

 

[matthforex]

Really, is this successfull ea

Great, I'll do my tests

 

[mydogen]

Thank you.
I will test it on my demo account. I will let you know the result.

 

[shaanbae]

this Multi Lot Scalper EA has been tool one of my favorite. it will you succeed too but first test it on demo before real account

the thing you posted is a Indicator. how do you use it? is it supposed to be an EA. idk how it works with the indicator

 

[cchong]

this Multi Lot Scalper EA has been tool one of my favorite. it will you succeed too but first test it on demo before real account

This EA looks interesting to me. In the parameter settings it mentioned about 4 currency pairs (EURUSD, GBPUSD, USDCHF and USDJPY). Does that mean these 4 pairs are supposed to be used with this EA for best results? Anyway, I'm now starting to test these 4 currency pairs by opening 4 charts and attach the same EA to each of the pair to see how they work. Here are my settings used as follow:

Deposit: $1000
Leverage: 1:1000
Time Frame: H1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
Lots: 0.01 (for $1000 standard account)
End year: changed from 2006 to 2023 (if you leave it as 2006 as default then the EA won't start placing any trades at all. But when you changed the value to the present or future, the EA would almost immediately start placing trades for you.)
The rest of the settings remain as default.

One thing to take note: If you attempt to use 0.01 lot for $100 account, I don't think you would survive for long because the EA could quickly open more trades and double the lot size when the market is going against you. Meaning it will place 1st trade with 0.01 lot, then 2nd trade with 0.02, 3rd trade with 0.04 and so on and so forth which will quickly use up all your margins and could easily blow up your account for sure. Therefore, I am now testing 0.01 lot with $1000 account instead of $100 account. Will wait for a few days to see how it goes.

 

[shaanbae]

This EA looks interesting to me. In the parameter settings it mentioned about 4 currency pairs (EURUSD, GBPUSD, USDCHF and USDJPY). Does that mean these 4 pairs are supposed to be used with this EA for best results? Anyway, I'm now starting to test these 4 currency pairs by opening 4 charts and attach the same EA to each of the pair to see how they work. Here are my settings used as follow:

Deposit: $1000
Leverage: 1:1000
Time Frame: H1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
Lots: 0.01 (for $1000 standard account)
End year: changed from 2006 to 2023 (if you leave it as 2006 as default then the EA won't start placing any trades at all. But when you changed the value to the present or future, the EA would almost immediately start placing trades for you.)
The rest of the settings remain as default.

One thing to take note: If you attempt to use 0.01 lot for $100 account, I don't think you would survive for long because the EA could quickly open more trades and double the lot size when the market is going against you. Meaning it will place 1st trade with 0.01 lot, then 2nd trade with 0.02, 3rd trade with 0.04 and so on and so forth which will quickly use up all your margins and could easily blow up your account for sure. Therefore, I am now testing 0.01 lot with $1000 account instead of $100 account. Will wait for a few days to see how it goes. View attachment 17136

i think an auto compounding EA would be really good, but it has to be super accurate

 

[tc41009]

EA named Generic TLP - maded by tradelikeprou

Let's discuss to find the best settings

use this and in moderation, also use good management analyzing the ideal setup for your operational

Thank you

 

[cchong]

i think an auto compounding EA would be really good, but it has to be super accurate

That's a good point. "Super accurate". The question remains though, is there such a super accurate EA? That's a very good question to ask for all the EA that is available on the internet and market.

With regards to auto compounding EA, basically I think what you are asking for might be the option of "auto lot assign" in which an EA would place trades not according to "fixed lot size" but according to the percentage of either the balance or equity. When the balance or equity is growing, the EA will change its lot size and increase the lot size value accordingly, if the equity drops lower, then the EA would decrease its lot size accordingly to the equity value. For your info, there is one EA that I'm currently testing now is using the % of risk of the equity (considered as one kind of auto compounding method). Feel free to try it out if you wish to: https://www.forexforum.co/threads/red-dragon-mt5-my-favourite-ea-48-profit-26-drawdown.17408/

In my opinion, all EA are risky and as far as i know, none of them are "super accurate", the key is learning how to be able to manage our risks and keep them to the minimum as much as possible so that our profits could be more secure in the long run. simple as that.

 

[shaanbae]

That's a good point. "Super accurate". The question remains though, is there such a super accurate EA? That's a very good question to ask for all the EA that is available on the internet and market.

With regards to auto compounding EA, basically I think what you are asking for might be the option of "auto lot assign" in which an EA would place trades not according to "fixed lot size" but according to the percentage of either the balance or equity. When the balance or equity is growing, the EA will change its lot size and increase the lot size value accordingly, if the equity drops lower, then the EA would decrease its lot size accordingly to the equity value. For your info, there is one EA that I'm currently testing now is using the % of risk of the equity (considered as one kind of auto compounding method). Feel free to try it out if you wish to: https://www.forexforum.co/threads/red-dragon-mt5-my-favourite-ea-48-profit-26-drawdown.17408/

In my opinion, all EA are risky and as far as i know, none of them are "super accurate", the key is learning how to be able to manage our risks and keep them to the minimum as much as possible so that our profits could be more secure in the long run. simple as that.

yeah, feel ya. I downloaded so many EA's last night. Going to see which one actually works good

 

[cchong]

yeah, feel ya. I downloaded so many EA's last night. Going to see which one actually works good

Glad to hear that you have lots of free EA to test now. Well, wish you all the best and have fun with your EA testing. Whatever you do, please make sure you know where your risks are and try your best to manage them well. Take good care and God bless.

 

[mathewbe]

Thank you any back test results?? suggestion for pairs and time frame?

 

[cchong]

Thank you any back test results?? suggestion for pairs and time frame?

Thanks. Well, I don't know whether the thread owner has any back test results to share with us or not. As for me, no I haven't done any backtest with this EA. Honestly I don't know how to do backtests and even if I know how to do it, still I would prefer more on forward testing results rather than backtests that does not guarantee any present or future results at all.

As for suggestion for pairs, I don't know what the thread owner would recommend or suggest to us, as for me, feel free to check out my recent comments in thread channel on the settings that I used including the timeframe and the currency pairs. Just scroll up a few posts above and you would surely see it there with a big screenshot of my new demo testing with this EA. (date: Wednesday at 12:14 shared by cchong.)

 

[cchong]

New updates on "Multi Lot Scalper" tests:
1. I have just noticed a very interesting behaviour of this EA and here are the things that I saw as follow:
A. If you use only one currency pair for your trading
The EA will then place trades by doubling the lot size when the previous trade has lost. E.g. if your lot size is 0.1, then your next trade placed would be using 0.2 lot, followed by 0.4, 0.8, 1.6, 3.2 and so on until you managed to recover all your losses from the previous lost trades. That means it is using a martingale method that double your lot size in order to bring your profits or recover from your losses. The problem is, it could be quite risky that if you do not have enough margin to hold up all your opening trades when the market is suddenly started to move against you. That's the danger I see with this situation. Well, so far I have just started testing this strategy today by using only one single currency pair of EURUSD and up till now, I haven't witnessed the account got blown up yet. Anyway, Would keep monitoring and see what happen next with the coming few days or so.

B. If you are using not 1 but 4 currency pairs concurrently/together as mentioned in the EA parameter settings, namely: EURUSD, GBPUSD, USDCHF and USDJPY
This EA would then behave very differently in the following ways:
a.) The lot size that you have set would always remain the same and not increased. e.g. 0.01 lot will always be 0.01 used for all the trades.
b.) Surprisingly, in all the trades that were placed and closed, there were simply no losing trades at all. In other words, all trades have been closed with 100% success. No joke!

I have attached two screenshots here for your proof to see the differences between using one currency pair and four currency pairs so that you would understand better of how different would this same EA behaved with these two accounts.

If anyone has already started your test with this EA for the 1st time and not using any demo but live account, my advice for you is please stop your test with live account if possible (for now) and kindly switch over to using demo account only for your best safety. Trust me, if anything goes wrong with the EA or your settings, your money could be all gone just like that. Please learn to be patient and give yourself enough time to test out different settings in order to have a better understanding of how this EA (or any other EA that you have selected) behave and work. Only use live account after you are pretty sure that the EA and your settings worked very well for you in demo account not for several days only but at least for a few weeks or even months. Again, be patient and learn to wait and see more solid proof before you put in some real money and hoping to earn some real profit.

Take care everyone. Wish you all the best. Take care and God bless

 

[cchong]

New and last updates on Multi Lot Scalper EA:
Hi guys, this I believe would be my last update on testing this EA. I think this EA might not work well for me in the long run. It appeared to be working well in the beginning but somehow after more and more testing, I began to find out that this EA could actually and possibly cause you start losing money instead of earning money. I have opened a total of 7 demo accounts each with slightly different settings used. I even increased the pips from 15 to 200 just trying to reduce the risks by preventing the EA to quickly keep opening too many new trades within a shorter period which could easily blow up your accounts very soon. Even with that strategy applied, what really surprised me was that even though now I seemed to have enough margins for my trades and my equity value is still under good control and manageable without dropping too far behind, yet the account balances of my accounts would still decrease instead of increase over time. That to me means that this EA is not really performing as steady and good as I think it was. In short, I don't think that I could continue to trust this EA to do a good and steady job in the long run. Anyway that's just my own opinion. No offense for anyone else who trust this EA and found any settings that work well for him or her. No problem.

Anyway, just for your info that the following are my settings used for testing this EA:
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 1)
Deposit: $10000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
pips: 200
mm: 1
risk: 1
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 2)
Deposit: $10000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
pips: 200
mm: 1
risk: 5
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 3)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
pips: 200
mm: 1
risk: 10
End year: changed from 2006 to 2050
The rest of the settings remain as default.
------------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 4)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD
Settings:
pips: 200
mm: 1
risk: 10
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 5)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: GBPUSD
Settings:
pips: 200
mm: 1
risk: 10
End year: changed from 2006 to 2050
The rest of the settings remain as default.
---------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 6)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: GBPUSD
Settings:
pips: 200
mm: 1
risk: 5
End year: changed from 2006 to 2050
The rest of the settings remain as default.
----------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 7)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD
Settings:
pips: 200
mm: 1
risk: 5
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------------

For the results, feel free to check out one screenshot of the overall performance of this EA.
Okay, the rest I think those of you who are currently testing this EA could feel free to share your own findings and results of using this EA. As for me, I think I'm pretty much done testing with this EA for now. Take care everyone, wish you all the best and God bless. Bye.

 

[RedOne]

what timeframe is this designed for? Has anyone backtested and care to share the results?

 

[KaizenMizen]

New and last updates on Multi Lot Scalper EA:
Hi guys, this I believe would be my last update on testing this EA. I think this EA might not work well for me in the long run. It appeared to be working well in the beginning but somehow after more and more testing, I began to find out that this EA could actually and possibly cause you start losing money instead of earning money. I have opened a total of 7 demo accounts each with slightly different settings used. I even increased the pips from 15 to 200 just trying to reduce the risks by preventing the EA to quickly keep opening too many new trades within a shorter period which could easily blow up your accounts very soon. Even with that strategy applied, what really surprised me was that even though now I seemed to have enough margins for my trades and my equity value is still under good control and manageable without dropping too far behind, yet the account balances of my accounts would still decrease instead of increase over time. That to me means that this EA is not really performing as steady and good as I think it was. In short, I don't think that I could continue to trust this EA to do a good and steady job in the long run. Anyway that's just my own opinion. No offense for anyone else who trust this EA and found any settings that work well for him or her. No problem.

Anyway, just for your info that the following are my settings used for testing this EA:
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 1)
Deposit: $10000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
pips: 200
mm: 1
risk: 1
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 2)
Deposit: $10000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
pips: 200
mm: 1
risk: 5
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 3)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD, GBPUSD, USDCHF, USDJPY
Settings:
pips: 200
mm: 1
risk: 10
End year: changed from 2006 to 2050
The rest of the settings remain as default.
------------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 4)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD
Settings:
pips: 200
mm: 1
risk: 10
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 5)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: GBPUSD
Settings:
pips: 200
mm: 1
risk: 10
End year: changed from 2006 to 2050
The rest of the settings remain as default.
---------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 6)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: GBPUSD
Settings:
pips: 200
mm: 1
risk: 5
End year: changed from 2006 to 2050
The rest of the settings remain as default.
----------------------------------------------------------------------------------------------------------------
2021-08-21 MT4 Pro Demo Acc Multi Lot Scalper (Demo 7)
Deposit: $1000
Leverage: 1:1000
Time Frame: M1
Currency pair: EURUSD
Settings:
pips: 200
mm: 1
risk: 5
End year: changed from 2006 to 2050
The rest of the settings remain as default.
--------------------------------------------------------------------------------------------------------------------

For the results, feel free to check out one screenshot of the overall performance of this EA.
Okay, the rest I think those of you who are currently testing this EA could feel free to share your own findings and results of using this EA. As for me, I think I'm pretty much done testing with this EA for now. Take care everyone, wish you all the best and God bless. Bye.View attachment 17474

Thanks so much for the results. It seems I have to dig deeper to find a stable EA. Thanks again

 

[cchong]

Thanks so much for the results. It seems I have to dig deeper to find a stable EA. Thanks again

You're most welcome. Well then, keep up the good work and wish you all the best in your journey of finding a good and stable EA. Take care and God bless.

 

[dokopy]

You're most welcome. Well then, keep up the good work and wish you all the best in your journey of finding a good and stable EA. Take care and God bless.

You are cordially invited to waste time with fraudsters.