Great. Well keep up the good work then. Thanks
Profitable EA Life Changer EA Full Version
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- life changer ea
khcho04412
New Member
thanks for sharing ...
will test this ea...
will test this ea...
Good day All
Trust everyone is well.
So just an update again on this EA. I have been running mine again for just over a month on live account.
All settings exactly same as previously posted. Only difference I'm on an 8000USD live account. Yes 8000usd. I knew this EA has great potential and that it worked based of previous experience and decided to take the leap.
Currently its only trading GBPUSD and GBPJPY. I have noticed that it does also trade AUDJPY and NZDJPY and NZDUSD very well. It also helps to not trade a minor pair against a Major. As it will sometimes go into big draw down. For example, USDCHF.
Profits so far and withdrawn close to 1000USD. I basically manage the EA when it comes to High impact news events and will turn it off. Then switch it back on 30mins after the news and the market has calmed down. As previously said with my settings as it is I get anything between 40 to 100USD per day. I had a few days where the profits were really low. But other than that, it gives a consistent 1.5% return daily.
So yes, the EA needs a large account or as per the guidelines 0.01 per 1000usd in your account. Because I am only trading 2 or 3 pairs, I am currently on a 0.20 lot size. Frequency of trades is still very low. will at most do 4 trades per day.
Ultimately it comes down to what amount of capital you want to invest and allow the EA to grow that amount for you. slowly but surely. I am also not risking it by trading Major new events. I have also noticed that GBPJPY will sometimes get into a trade unexpectedly and move in to 1% or 2% drawdown but then close out the trade in profit.
So far, I am happy and yes monitoring the news events is extra bit of work, but it does pay off. Other option I have is to lower my lot size way down and then add in 1 or 2 more pairs. Then allow the EA to run through the news events. But I don't really need to risk my account because I want to trade news events. Rather be safe than sorry. Even though we have the same news each month. The impact it might have on the market at that given time is different every time. So, you can't really go back on the historical data to project possible future behavior.
I will in the new month half my account. As it doesn't need to be so big. It was purely for testing purposes. I have also been testing this EA for over a month now indices on a demo account. And have had really good success so far.
Take Care everyone will keep you posted how it goes.
Cheers.
Trust everyone is well.
So just an update again on this EA. I have been running mine again for just over a month on live account.
All settings exactly same as previously posted. Only difference I'm on an 8000USD live account. Yes 8000usd. I knew this EA has great potential and that it worked based of previous experience and decided to take the leap.
Currently its only trading GBPUSD and GBPJPY. I have noticed that it does also trade AUDJPY and NZDJPY and NZDUSD very well. It also helps to not trade a minor pair against a Major. As it will sometimes go into big draw down. For example, USDCHF.
Profits so far and withdrawn close to 1000USD. I basically manage the EA when it comes to High impact news events and will turn it off. Then switch it back on 30mins after the news and the market has calmed down. As previously said with my settings as it is I get anything between 40 to 100USD per day. I had a few days where the profits were really low. But other than that, it gives a consistent 1.5% return daily.
So yes, the EA needs a large account or as per the guidelines 0.01 per 1000usd in your account. Because I am only trading 2 or 3 pairs, I am currently on a 0.20 lot size. Frequency of trades is still very low. will at most do 4 trades per day.
Ultimately it comes down to what amount of capital you want to invest and allow the EA to grow that amount for you. slowly but surely. I am also not risking it by trading Major new events. I have also noticed that GBPJPY will sometimes get into a trade unexpectedly and move in to 1% or 2% drawdown but then close out the trade in profit.
So far, I am happy and yes monitoring the news events is extra bit of work, but it does pay off. Other option I have is to lower my lot size way down and then add in 1 or 2 more pairs. Then allow the EA to run through the news events. But I don't really need to risk my account because I want to trade news events. Rather be safe than sorry. Even though we have the same news each month. The impact it might have on the market at that given time is different every time. So, you can't really go back on the historical data to project possible future behavior.
I will in the new month half my account. As it doesn't need to be so big. It was purely for testing purposes. I have also been testing this EA for over a month now indices on a demo account. And have had really good success so far.
Take Care everyone will keep you posted how it goes.
Cheers.
Thanks for sharing
kecodon8991
New Member
Good day NexusFX,
Thanks for sharing. Can you share a screenshot of the EA settings on the real account you are running? it will help many new people here.
Good day
If you go back a few pages, you will see I did an in-depth explanation on my findings on this particular EA.
here is the link https://www.forexforum.co/threads/life-changer-ea-full-version.2226/post-172094
I have made few changes to these settings. See screen shot.
I have added in NZDJY, NZDUSD, AUDJPY, AUDUSD. So far, no issues. I have also lowered my lot to 0.15. More than enough for my account size.
samuelbirlea
New Member
Need to test it on a demo ASAP.
Currently using a high risk EA and want something safer.
Currently using a high risk EA and want something safer.
I've been testing it for a while and it's very good
spiked_silver
Member
Both Martingale and Grid
Correct me if I'm wrong, I think this EA is both using Martingale and Grid strategies.
Anyway, if you don't like Martingale strategy, you can always choose to turn off the Martingale if you wish to by setting the Multiplier value to 1.0. Just bear in mind that it would be much harder to recover your losses and it would take much longer for the EA to close trades with a profit. For your info, in the past I have had one instance where I set the multiplier value to 1.0 and the EA even took 15 or more trades trying to recover losses for me which was truly scary. The default value is set at 1.11 which is reasonably ok as long as you don't try to use a crazy big lot size or use a tiny small account balance. The recommended minimum lot and balance for using this EA is 0.01 lot used with a $1000 account balance. If you don't have $1000, no worries as you can always use $10 with a Cent account which would immediately turn your $10 into 1000 Cents (and it will be shown as $1000 in a Cent account) and you are good to go.
As for the Grid settings, you can always change the STEP/PIP value according your risk preference. The smaller the STEP (the gap or pip difference between the GRID), the greater your risks would be as more trades will be placed whenever the market is moving against you. The STEP default value is set at 15, that means with every 15 pip/step movement of drawdown the EA will place one trade to help recover your losses). If you increase the STEP from 15 to 20 or more, then you will have less trades opened which would help reduce your risks. I think that's all I could understand and share about Martingale and Grid settings with this EA.
Hope that helps.
Thank you very much for your sharing- Max trades each side is basically telling the robot that It can only open 10 positions both side at one time. depending on what you set it too. default setting is 50. But based off my testing. the most positions I had at one time was 10. And that wasn't even one way. one way meaning either a Buy or a Sell. So leave it on the default setting. What I noticed was if you set it to low maybe two or three. You not allowing the EA to hedge the drawdown quicker. Because now it can only open 3 trades one way. So you will be stuck in that drawdown longer. Where if the setting was maybe 5. It could have closed the positions much quicker. Another thing when it hedges the positions. It will always close in a profit. I only had few instances where it closed out in a small loss.
-Magic number this setting I have always left on default.
-Trailing stop. This is a really nice feature. It allows the robot to trail stop the positions when it starts going into profit. default setting is 12 pips with a step of 1. The step setting is same multiplier. You can tell the EA to trail the stop in different pip increments. I have just left this on default. As it works best this way. What I did notice was on certain pairs the trail stop doesn't kick in. On others It worked perfectly.
-Max Pair trades can leave on default 2 pairs . Allows for some sort of risk management. If you allow it to trade a lot of pairs at once opens you up to draw down.
-Trading time just leave on default setting. I have noticed that on my side the EA will take trades with Japan and Euro/London session cross over. And then again with US open. This works nicely for me. As there is nicely volume incoming when this happens.
- Now the juicy bit. The currency list. This took me a while to figure out based of the testing DATA. On some pairs the EA works splendidly. Yes big word lol. Why splendidly it doesn't go into big draw down. It hits TP with no real issues. But then on other pairs it makes a Total hash brown out of it. Going into big drawdowns. I also tested this EA on indices like NAS100 and US30. Even gold silver and oil. On indices it works. and works well. But on indices your risk is much higher and it eats more into your margin requirements so drawdown will blow a small account to zero very quick. On Gold it made decent profits but some times couldn't handle the volatility and went into big drawdowns. Which eventually closed in profits. On my live account I had two instances where it blew 2 weeks of consistent profit because of two pairs who went into heavy drawdown. So high volatility pairs is a no go for this EA. Don't add gold or silver or any type of commodities. Leave indices out as well. I am still testing the indices to get the perfect settings. What I have noticed on indices with some brokers that offers micro indices the EA doesn't read the name correctly because there is NAS.mic in the name or NAS.z or any other type of letter added onto the name. With some currency pairs it does read it correctly regardless what letter is added. So this EA was solely build to trade currencies. So based off my testing the best currencies to set this EA on is AUDUSD, GBPUSD, GBPJPY. all the other pairs you can remove. These 3 offers the best return. These 3 pairs are very good volume pairs. They move well on daily basis. Some might argue yah but why not the other pairs. Off all the months of testing those 3 pairs was traded the most. USDJPY blew profits on a few occasions. EURAUD went it big drawdowns sometimes for two days. So testing allows you to see what works and what doesn't. Also why do people choose to automate trading is to take out the emotional factor. But if your EA is going into big drawdowns you still have some sort of emotional attachment to it. I also noticed that these were the only pairs that the EA actually trades with the trend and not against it. Because of me having being in the markets so long a lot of times on some pairs I saw it will trade against the trend. Now counter trend trading can be done but opens you up for bigger risk. So for me it was to eliminate all of that and get it to a point where it pulls consistent profits. Small profits with zero or minimal drawdowns. And these 3 pairs offers that. What I have done is to find my sweet spot based of my account size with the correct lot sizing. This allows me to get a consistent 20 - 30usd per day with minimal drawdown.
So final remarks. This is one of the few EA's out there that does work. Yes folks it will give you a consistent daily return if you are patient. Yes like manual trading and learning anything in life. It takes patience and repeatedly working at it. If you patient and don't mind taking small profits daily to build your capital in the long run this is the EA for you. If you want quick returns hit the casino or play lottery. I am yet to run the EA through a VPS. This will be my next thing to test. VPS allows for much quicker execution time. And is very nice option if you working full time and only want to monitor it from you phone and don't want a PC or laptop running constantly at home unattended.
Another thing to note. Ensure you running your MT4 on a reasonably fast laptop or PC with good internet speed. Turn off windows updates. I have noticed that after windows updates the EA wont work or settings goes back to default. on mt4 this EA doesn't like to be added to a chart with other running indicators etc. on it. Make sure when you paste it on one chart that is a clean chart.
So here is my current settings.
Time frame - M15. This time frame works best for EA.
Lot size 0.04 - I am on a 1000usd plus account. Based off my Take profit and the pairs this lot size is safe for my account.
Take profit - 18pips
Stop loss - default 400
Max Trades Each side - 10 (based off my testing as mentioned above)
Trailing stop - 12
Trailing step - 1
Pairs - GBPUSD, GBPJPY, AUDUSD.
This settings gives me a consistent 20 - 30usd daily. With very low or zero drawdown and very good risk management. You can scale your lot size as your account size grows.
Hope this helps you guys and gals. I will give more feedback when I am done testing the indices and have the correct settings. And for the newbie trader. Don't give up on trading. Yes the dynamic has changed because we live in a society where everything is automated. But trading as a skill will allow you things that an ordinary job cant and that is Time Freedom.
Take Care.
Well, correct me if I'm wrong, I think if you use 0.01 lot size on a $1000 account with this EA, perhaps you could probably earn a monthly profit of 10% more or less depending on the market conditions. If you wish to earn more, yes, you could simply increase your lot size but that would definitely put your account in greater risks and danger. Whatever you do, please learn to be safe and stay safe as always. If you can't control your risks properly, then all your profits and your capital would be gone for sure soon or later. It's that simple. All the best, take care and God bless you and everyone.
Last edited:
Hi NexusFx,
I start to run this EA :-it follows setting is still useful or I need to change. Thanks
Time frame - M15.
Lot size 0.04 - each 1000usd
Take profit - 18pips
Stop loss - default 400
Max Trades Each side - 10
Trailing stop - 12
Trailing step - 1
Pairs - GBPUSD, GBPJPY, AUDUSD , NZDJY, NZDUSD, AUDJPY,
Dear all,
Just one additional comment from me (if you don't mind) with regards to the STOPLOSS value of this EA. The default value is set at 400 pips. Having said that however, just to let you all know that I did encounter two times in the past whereby the stoploss did hit 400 pips and the EA closed trades which ended up with a huge loss.
As the result, I have decided to follow another trader's strategy which was to set the STOPLOSS to be "0" instead of "400" so that the EA won't close trades even when it hit 400 pips in drawdown. The good thing is, the EA will continue to work until it managed to recover losses and eventually closed trades with a profit when the market trend finally reversed its direction (to be honest it did happen successfuly in one of my past tests). Yet, the bad thing is, if your account balance, leverage and/or margin is insuffient of holding up all your trades, then you could possibly end up blowing up your account. Therefore, please make sure you do have a large leverage (e.g. 1:1000 if possible for your better safety) and a sufficient account balance (a minimum of $1000 or more with 0.01 lot size used for your trading) in order to keep you survive especially whenever the market suddenly move strongly against you that could cause a huge drawdown with your account.
Having said all that, I think there is no such thing as a perfect EA or setting. At the end of the day I believe everyone would still need to decide on what strategy and what settings work best for yourself in terms of risks, safety and expectation of profit.
Wishing everyone the very best in your EA tests.
Regards,
chong.
Just one additional comment from me (if you don't mind) with regards to the STOPLOSS value of this EA. The default value is set at 400 pips. Having said that however, just to let you all know that I did encounter two times in the past whereby the stoploss did hit 400 pips and the EA closed trades which ended up with a huge loss.
As the result, I have decided to follow another trader's strategy which was to set the STOPLOSS to be "0" instead of "400" so that the EA won't close trades even when it hit 400 pips in drawdown. The good thing is, the EA will continue to work until it managed to recover losses and eventually closed trades with a profit when the market trend finally reversed its direction (to be honest it did happen successfuly in one of my past tests). Yet, the bad thing is, if your account balance, leverage and/or margin is insuffient of holding up all your trades, then you could possibly end up blowing up your account. Therefore, please make sure you do have a large leverage (e.g. 1:1000 if possible for your better safety) and a sufficient account balance (a minimum of $1000 or more with 0.01 lot size used for your trading) in order to keep you survive especially whenever the market suddenly move strongly against you that could cause a huge drawdown with your account.
Having said all that, I think there is no such thing as a perfect EA or setting. At the end of the day I believe everyone would still need to decide on what strategy and what settings work best for yourself in terms of risks, safety and expectation of profit.
Wishing everyone the very best in your EA tests.
Regards,
chong.
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