Good day All
Trust all is well.
Here is some feedback. I have been, running the EA now for 3 months straight on live account. I only allow it to trade GBPUSD, AUDUSD, NAS100. I took out GBPJPY as the volatility of the YEN against the Pound sometimes makes the EA run into heavy draw down. For me it works. I am not greedy at all. I have also dropped my account balance to around $4600USD from 8000USD. As it was way too big.
My set file at the moment.
Fix Lot 0.18
Multiplier 1.0
Step 20
Take profit 28.0
Stoploss 400
Max Trades 5
Magic Number 1234567
Trailing stop 24.0
Trailing step 1.0
Pairs
AUDUSD
GBPUSD
NAS100
To everyone this EA works. If you allow it to build the account slowly and not get greedy it will make profits. Make sure your lot size is set according to your account size. So far, I am happy with my returns. EA will make at most 5 trades a day. somedays even two or three. So, for me the frequency of trades is perfect. People think the more trades you let it make the more money you going to make. Yes, true that can be done but also opens yourself to risk. Like manual trading you still need to manage your risk. I still trade manually on my other account. And solely allow this EA to trade and build this account for me.
People are naturally results driven so they will only believe something works if they see results beforehand. There is a lot of people here, that spend countless hours running this EA getting a perfect set file etc. Ultimately it comes down to what you want out of it. Like I said in my previous post. This EA can give high returns over short period of time, but it can blow your account very fast if something in the markets happen. Or you can be conservative and allow it to make small % profits each day and build slowly.
I have spoken to a friend of mine who is programmer. The source code that is available for this EA can't be work with. He did have a look at it. Code is very unclear. I am in talks with him to build an extra news filter EA or something that will switch of the Life changer EA before heavy impact news drops. I still switch of the EA manually before heavy impact news. But still run the risk as something can happen in the markets at any time. Unless we can get the original source file for this EA that is not modified in any way then I can have a filter build in. Until then its manual work for now.
Happy Trading everyone.
Take Care.