Profitable EA Life Changer EA Full Version

[cchong]

Dear all,
Hope that everyone is doing fine here. Anyway, just to share my own thoughts on this EA settings with you here.

1. Account balance and lot size.
Just as NexusFX have mentioned earlier that he read the intructions on the manual saying that the recommendation is to use 0.01 lot for $1000 account balance. I fully agreed with that. Yes, you can use a bigger balance if you have, like 0.01 lot for $2000 or more if you like and that would definitely make your account much more safer and harder to die. But NEVER EVER use any balance lower than $1000 because soon enough you would find out that you just won't survive for very long.
For those people that don't have $1000 (me too), no worries because you can simply use a minimum of $10 with a CENT account as in CENT account the $10 would turn into 1000 cents and it will show up as $1000 in the MT4 platform. By doing so, the EA would be "cheated" and think that it is a $1000 account which in fact is only $10. With that, you can then use 0.01 lot with only $10 in a CENT account and the EA will still work normally and safely for your $10. The key is to make sure that your broker has CENT account to offer you, for your info not all brokers offer cent accounts, if your broker doesn't offer this, then you may need to switch to other broker that does so. Do bear in mind that even if some brokers do offer cent accounts, there are rules and conditions for their cent accounts. Say for example Roboforex broker, yes they do offer cent accounts but the minimum lot size allowed for their cent accounts would be 0.10 lot and not 0.01 lot. If you choose Roboforex to be your cent account broker, then you would need a minimum of not $10 but $100 and set your lot size to be 0.10 lot when using this EA for your trading. I have tried using 0.01 lot in the past and the broker automatically adjust the lot size to 0.10 lot and it almost blew up my account almost immediately. Thank God for as soon as I realized with the wrong lot size used I just immediately stop all trading with this EA. From that day on, I never choose Roboforex as my broker for using any cent accounts. For your info, now I only use FBS as my broker for all my cent accounts trading because they do allow minimum lot size of 0.01 lot used for any account balance, even if you dare to use only $1 with their cent accounts, as long as your EA could work safely with $1, you are good to go. Yet for Life Changer EA, no you defintely can't survive with only $1, you would definitely need a minimum of $10 or more if you wish to survive for long when using cent accounts.

2. Leverage
Try to use a large leverage if possible. The larger your leverage is, the safer your could possibly be when the market suddenly moves strongly against you at any time. As for me, just for your info that I use 1:1000 leverage with FBS as my broker.

3. EA Testing Period
In order to test out how an EA works and how reliable it is, I would suggest a minimum of 3 months or more for your better safety. In the past I have tested many EA that worked well for only a few days or weeks and after that something went wrong and the EA went crazy and failed to operate well which eventually blow up accounts. Life Changer EA is my view is a working EA and not a scam EA at all. The only thing is to find settings that work well for yourself and able to work consistently and remained reasonably stable in a long term.

Below are my current settings used with Life Changer EA test (this is for your info only, no guarantee that it will work well in the long run. Therefore, use any settings that you wish to at your own risks.):
Settings:
Deposit: $10 (used with CENT account)
Leverage: 1:1000
Time Frame: M15
Currency pair to be attached to the MT4 chart: I attached EURUSD on ONE chart only.
(Note: It does not matter which currency pair that you attached on the chart, just choose any ONE currency pair and attach it onto the chart for the EA to work. The EA would only trade with the currency pairs that are listed on the SYMBOLS from 1-30 under the EA settings.

Fix lot: 0.01 (used for $1000 account or $10 with CENT account)
Multiplier: 1.11
Step: 15.0
Take Profit: 30.0
Stoploss: 0
Max Trade_Each Side: 20 (This may be more risky for some people. If you don't like it, you may reduce this value as you wish to.)
Magic Number: 1234567
Trailing Stop On: True
Trailing Stop: 12.0
Trailing Step: 1
Symbol 1: GBPUSD
Symbol 2: GBPJPY
Symbol 3: AUDUSD
The rest of Symbols from 4-30 I just leave them blank.
(Note: I only use these 3 currency pairs which was mentioned by NexusFX in his posts. He said that these 3 currency pairs were appeared to be more profitable and stable in his past experiences of testing with this EA. Feel free to refer to all his posts for more info and insights on this EA settings. Here is one of his posts for your info: https://www.forexforum.co/threads/life-changer-ea-full-version.2226/post-172094)

Max Pair Trades: 2 (If you increase the value, be sure to see much more risks being applied to your account. For me, I think 2 would be the maximum risks that I could accept for my account. If you like to further reduce your risks, you could simply change it to 1 if you wish to.)

The rest of the settings I just leave them as default.

Okay that's all from me. Wish you all the very best in your EA tests. Whatever you do, be safe and stay safe as always. Take care everyone and God bless

Here are some screenshots attached below just for your additional info of the results gained with this EA.
Daily profit: 0.50%
Monthly profit: 16.39%
Maximum Drawdown percentage: 27.75%

For those who are interested in my settings used, please refer to my previous post of the settings used for this EA, or you can simply click the following link: https://www.forexforum.co/threads/life-changer-ea-full-version.2226/post-183856

Note: Just to clarify this, although I did mention earlier that I can't use Roboforex as my broker when using cent account, but for this EA testing, since this is not a cent account and only a demo standard account and I could choose a larger account balance of $1000 as I wish to, therefore I have no problem choosing Roboforex as my broker for this EA test. The settings that I have shared earlier mentioned using $10 with CENT account with FBS as my broker was meant to be for those who people who do not have $1000 and they can simply use $10 instead of $1000 for their trading when using cent account.

Okay that's all from me. Wish everyone all the best in your EA tests. Take care and God bless

 

[NexusFX]

Hi Cchong,
On my real account 1000 Cen with this EA does not have the same SL as you, even the EA ignores this order. I think this EA works differently with different brokers. I am still continuing to run it on a real account but with a small amount and monitor its stability.

Good day @kecodon8991

True what you are saying the EA does operate differently with different brokers. I have also noticed it. From my experience and research, I have done. There are certain brokers that are A book brokers and other that are B book brokers. Internally they operate differently, and clients are given different trading environments without even knowing. But not to delve too much into that topic. I have tweaked my settings slightly by changing my TF to 30min as well. Will see this week hows it goes. Will keep everyone posted.

 

[cchong]

I think quitting SL is as risky as opening multiple positions. When the market goes against the trend if only set "MaxTrades_Each Side" =10 or 20 EA will not be able to raise the number of lots to balance according to its algorithm. Both installations have their own risks. I still let it work through big market swings to see how long it lasts and also waiting for results from your settings. After getting good results I will increase the amount to 100$ or 1000$
Thank you for sharing, hope you will have many good transactions.

Thanks for the sharing. Yes I agree that quitting SL is also risky. Well, since I'm testing on demo only so no risks are involved for now. Let's see what happen in the future then. Having said so, this is not the first time I tried this strategy. For your info there was a time I tried it on another account and there was one incident happened with one other currency pair that had breached over 400 pips and because I didnt set the limit at 400 pips, in the end it managed to turn back and the trade was eventually managed to close with a profit instead of having losses. That's the reason why I decided to use this strategy again to test out for this account (It was not my idea too but a suggestion made by another trader that have also experienced this 400 pips problem in the past of using this EA) . I think as long as your leverage and account balance is large enough and also your other settings are good enough for controlling your risks, I think this could possibly work ok at least for now as we speak. Still, there is absolutely no guarantee that it will surely work well over a long period of many years to come. But at least I do know for sure that it would at least help to avoid closing a trade with huge losses whenever 400 pips is reached with any currency pair that could have happened at any time during high market volatility. Well, let's just try it and see what happen then. Cheers

 

[NexusFX]

Thanks for the sharing. Yes I agree that quitting SL is also risky. Well, since I'm testing on demo only so no risks are involved for now. Let's see what happen in the future then. Having said so, this is not the first time I tried this strategy. For your info there was a time I tried it on another account and there was one incident happened with one other currency pair that had breached over 400 pips and because I didnt set the limit at 400 pips, in the end it managed to turn back and the trade was eventually managed to close with a profit instead of having losses. That's the reason why I decided to use this strategy again to test out for this account (It was not my idea too but a suggestion made by another trader that have also experienced this 400 pips problem in the past of using this EA) . I think as long as your leverage and account balance is large enough and also your other settings are good enough for controlling your risks, I think this could possibly work ok at least for now as we speak. Still, there is absolutely no guarantee that it will surely work well over a long period of many years to come. But at least I do know for sure that it would at least help to avoid closing a trade with huge losses whenever 400 pips is reached with any currency pair that could have happened at any time during high market volatility. Well, let's just try it and see what happen then. Cheers

Good day

Also, another thing I have learnt is that pips are calculated differently from broker to broker. So, what might seem like a 400pip move on one broker is actually a 40pip move. it has something to do with the number of digits after the decimal. Something I am going to look into some more. Don't think this directly has impact on the EA.

Good luck.

 

[cchong]

Good day

Also, another thing I have learnt is that pips are calculated differently from broker to broker. So, what might seem like a 400pip move on one broker is actually a 40pip move. it has something to do with the number of digits after the decimal. Something I am going to look into some more. Don't think this directly has impact on the EA.

Good luck.

Noted with thanks

 

[NexusFX]

Noted with thanks

Good day

What did we say does the step setting do in the EA. I have adjusted mine to 20 as well

 

[cchong]

Good day

What did we say does the step setting do in the EA. I have adjusted mine to 20 as well

Good idea. 20 is definitely safer than 15. Will adjust mine too soon. Cheers

 

[NexusFX]

Good idea. 20 is definitely safer than 15. Will adjust mine too soon. Cheers

Good day

I figured out what the step setting is for. if the EA opens one trade. For example, a Buy. Now this trade starts running in a negative. It will open another position when it hits 15pips or 20pips in negative. To start mitigating the risk and managing the position. So what i will be testing now to see if it is better to lower this setting in order for when the EA does hit trade where it needs to manage the trade with more then one open position if it will then close in profit sooner.

 

[NexusFX]

Another thing I just answered my own question. Don't think lower step setting will be of benefit. lower the step setting the more trades it opens to mitigate the risk of the 1st position. slightly higher setting should in theory work much better. So, for example if the 1st trade is open. and it goes into drawdown around 20pips the next position will open. So, if the drawdown is 100pips it should in theory only open 5 trades every 20pips.

I have changed mine to 20. EA took a GBPUSD trade now. 1st position went into drawdown. 20pips later it opened another trade. Eventually it closed in profit. So it seems to be working.

Will keep everyone posted.

 

[aaron17]

View attachment 81 View attachment 82 View attachment 81 View attachment 82 Please find attached Life Changer Full Version EA.View attachment 81 View attachment 82 View attachment 81 View attachment 82

Will check

 

[NexusFX]

Another thing I just answered my own question. Don't think lower step setting will be of benefit. lower the step setting the more trades it opens to mitigate the risk of the 1st position. slightly higher setting should in theory work much better. So, for example if the 1st trade is open. and it goes into drawdown around 20pips the next position will open. So, if the drawdown is 100pips it should in theory only open 5 trades every 20pips.

I have changed mine to 20. EA took a GBPUSD trade now. 1st position went into drawdown. 20pips later it opened another trade. Eventually it closed in profit. So it seems to be working.

Will keep everyone posted.

Good day All

Just an update on this step setting. The EA opened another trade on AudUsd. The 1st trade went 20pips in drawdown. It opened another position. Eventually trade was managed by the EA and closed in profit.

So, the step setting from 15pips to 20pips is working really well.

 

[hneinsa]

Thank you for sharing this!
Would love to learn more about this and use it in my daily trading.

 

[cchong]

Good day All

Just an update on this step setting. The EA opened another trade on AudUsd. The 1st trade went 20pips in drawdown. It opened another position. Eventually trade was managed by the EA and closed in profit.

So, the step setting from 15pips to 20pips is working really well.

Yup. The larger the "steps" are (which is pips distance between each trade placed), the less trades it will open during drawdown, the profits could be slower too, but safer.

 

[ganeshkumar1989]

Wow this is great! I would love to test this EA out... Looks like you guys are getting a lot of profits here

 

[cchong]

Wow this is great! I would love to test this EA out... Looks like you guys are getting a lot of profits here

Thanks for your comments and interest in this EA. Well, just to be honest with you, I think YES, this EA could possibly help you to make some profits but definitely NOT "a lot of profits" as I believe anyone who could gain a lot of profits within a short period could easily get their account blown anytime soon too. In short, BIG profits = BIG risks. Smaller profits = smaller risks. It's truly a simple but yet true statement for many.

Therefore, please DO NOT expect to gain "a lot of profits" within a short period of time. What matter most is to be able to keep yourself safe by control your risks properly so that you could be able to survive and continue to grow your account in a long term period. If you are just aiming for earning big profits, then I guess you would tend to use very risky settings that could easily get yourself into trouble. If I'm not mistaken, with this EA I think maybe you could possibly and roughly expect to earn a monthly profit of between 10-16% or so if you try to use a lower risk level of settings such as using 0.01 lot size for a $1000 account. If you expect any bigger profits of say 30% or more, I think your account could easily get intro trouble whenever the market turns extremely volatile at any time.

Having said all that, I do wish you all the best in your experience of testing this EA. Whatever settings you use, please test it on demo only for at least 3 months or more and not just days or weeks (for your best safety). If you think that your settings really work out really well for you, you may then feel free to use it on live account as you wish to at your own risks.

Stay safe and keep safe at all times. Take care and God bless

 

[Carneiro_Voador]

This EA really this good? Just checking if this is not a scam

 

[cchong]

This EA really this good? Just checking if this is not a scam

Well, hope you don't mind me sharing my own thoughts. Perhaps let me try to answer your second question first. No, it is not a scam in my opinion. I believe many have been testing this EA for quite some time, some even tested for years already. So far none of them has mentioned anything about scam with this EA. I think the question for this EA is not about scam but rather on the settings that matter the most. It is important to find settings that work well and also considerably safe over a long period of time, I'm talking about not just days and weeks but months and years.

As for your 1st question, it is rather hard to answer as the term "good" is quite different for everyone. Some would see "good" as to be able to double your account in 1 or 2 months. Some would expect a good EA to be capable of earning a minimum monthly profit of 30%, 40%, 50% or even more. Hence, I don't think I could simply answer your question by saying "good" or "really good". Well, if you think you are happy with a monthly profit of around 10% or so, then YES you probably could say that this is a good EA for you.

 

[gentle_elder]

try out the bot that I shared here, the gold scalper, put it on gold 5min chart and you'll thank me, but turn it off and close all trades on high impact news day..otherwise u can blow account, just monitor this bot and close on news days.
happyy earnings

 

[cchong]

Thanks for your offer but please just post and share your EA on a new channel or new thread of this forum website. This channel/thread is about Life Changer EA matters only. Thanks for your understanding.

 

[gentle_elder]

Thanks for your offer but please just post and share your EA on a new channel or new thread of this forum website. This channel/thread is about Life Changer EA matters only. Thanks for your understanding.

Yes I have posted here on different thread and I am sorry Sir I just realized.
I will be more aware from now on.
will test this EA this week and post results!