Profitable EA Life Changer EA Full Version

[cchong]

Is anyone experiencing any issues running the "Life Changer EA_full_version.ex4" after uploading it and modifying the settings to the recommended ones? Nothing is happening, literally. I've done everything in terms of click all the checkboxes too and has a smiley face and still nothing for the recommended pairs. Very odd. Do I need to add a preset or something?

Hi,
If you do see a "smiley face" sign there and also see all the MT4 chart messages appear as normal, then it is supposed to function properly even without using any preset. The question is, how long did you wait after setting up your EA? For your info, this EA normally won't immediately start trading after setting up. If I'm not mistaken, it could easily wait from 1 hour to maybe 24 hours or more. If you are sure that you have done all the correct steps of setting it up, then all you need to do is just to wait for 1 to 3 days. In short, "Patience" is the key.

In addition to that, I have also attached a screenshot below with some handwritten red notes just for you to double check on your set up procedures. If everything is done properly, then EA should be good to go.

Hope that helps. All the best to you and your EA tests. Take care and God bless.

 

[Letsgetit]

Hi,
If you do see a "smiley face" sign there and also see all the MT4 chart messages appear as normal, then it is supposed to function properly even without using any preset. The question is, how long did you wait after setting up your EA? For your info, this EA normally won't immediately start trading after setting up. If I'm not mistaken, it could easily wait from 1 hour to maybe 24 hours or more. If you are sure that you have done all the correct steps of setting it up, then all you need to do is just to wait for 1 to 3 days. In short, "Patience" is the key.

In addition to that, I have also attached a screenshot below with some handwritten red notes just for you to double check on your set up procedures. If everything is done properly, then EA should be good to go.

Hope that helps. All the best to you and your EA tests. Take care and God bless.

View attachment 23565

Ahhh ok. I just checked the computer this morning and YES it did take a trade after almost 24 hours. It took 4 trades so far. Extremely slow, but worked. Was planning on turning it off right now since there's a high impact news for the USD.

I'm definitely going to let it sit there and do it's thing. I have an idea, but just a thought. What do you think of having the pairs' charts doubled on the screen where if you were using only 2 pairs, you have the same 2 pairs seen twice on the screen so you would be having 4 charts total on the screen and the EA doing double the work?

This is assuming you stick to ALL the parameters and rules from you and @NexusFX AND you turn it off prior to the news to avoid the most important problem of all, the drawdown? Just a thought. I'm also testing it out so I will need some time to see if it's really working or not

 

[cchong]

Ahhh ok. I just checked the computer this morning and YES it did take a trade after almost 24 hours. It took 4 trades so far. Extremely slow, but worked. Was planning on turning it off right now since there's a high impact news for the USD.

I'm definitely going to let it sit there and do it's thing. I have an idea, but just a thought. What do you think of having the pairs' charts doubled on the screen where if you were using only 2 pairs, you have the same 2 pairs seen twice on the screen so you would be having 4 charts total on the screen and the EA doing double the work?

This is assuming you stick to ALL the parameters and rules from you and @NexusFX AND you turn it off prior to the news to avoid the most important problem of all, the drawdown? Just a thought. I'm also testing it out so I will need some time to see if it's really working or not

Well...you may try any method or use any strategy that you wish to and see how things go. Just for your info, this is a multi currency EA and it is required to attach only one single currency pair on the chart and not more than one. I have no idea what would happen if you do things any other way, it could possibly create confusions for the EA to work properly or so, I don't know. Having said so, feel free to try it if you wish to but only on a demo account for your best safety.

Last but not least, any expectation of EA doing "double work" or placing more trades would undoubtedly raising the problem of having much bigger risks for your account. If you can't manage your risks well, to be honest, I don't think your account or any account could survive for very long. The best is to learn to manage your risk first before thinking of increasing your profits. That's the only suggestion I have for you now. Wish you all the best then. Take care and God bless.

 

[cchong]

Ahhh ok. I just checked the computer this morning and YES it did take a trade after almost 24 hours. It took 4 trades so far. Extremely slow, but worked. Was planning on turning it off right now since there's a high impact news for the USD.

I'm definitely going to let it sit there and do it's thing. I have an idea, but just a thought. What do you think of having the pairs' charts doubled on the screen where if you were using only 2 pairs, you have the same 2 pairs seen twice on the screen so you would be having 4 charts total on the screen and the EA doing double the work?

This is assuming you stick to ALL the parameters and rules from you and @NexusFX AND you turn it off prior to the news to avoid the most important problem of all, the drawdown? Just a thought. I'm also testing it out so I will need some time to see if it's really working or not

One more thing, if you want the EA to do double work and to increase your profits by 2 times, then the easiest way is none other than to simply double up your lot size. It's that simple. However, that still won't help solve the problem of safety. Remember, the larger your profits, the larger your risks will be. As for this EA, I think the recommended lot size is 0.01 lot used for a $1000 or larger account balance if you wish to be safer. If you are expecting the EA to earn a much bigger profit, then be prepared to face the consequences of having your account blown when one day the market is suddenly moving strongly against you. Again, safety always come first. Learn to manage your risks so that you may possibly secure your profits in the long run.

 

[Letsgetit]

One more thing, if you want the EA to do double work and to increase your profits by 2 times, then the easiest way is none other than to simply double up your lot size. It's that simple. However, that still won't help solve the problem of safety. Remember, the larger your profits, the larger your risks will be. As for this EA, I think the recommended lot size is 0.01 lot used for a $1000 or larger account balance if you wish to be safer. If you are expecting the EA to earn a much bigger profit, then be prepared to face the consequences of having your account blown when one day the market is suddenly moving strongly against you. Again, safety always come first. Learn to manage your risks so that you may possibly secure your profits in the long run.

I agree with what you’re saying. Regardless, I’m have reminders each week to turn off my MT4 with the high news impact. Also, I’ll be monitoring drawdowns to see if it even possible. Wouldn’t hurt to try and yes it’s always on a 100K demo account with 1.0 lot sizes

 

[cchong]

I agree with what you’re saying. Regardless, I’m have reminders each week to turn off my MT4 with the high news impact. Also, I’ll be monitoring drawdowns to see if it even possible. Wouldn’t hurt to try and yes it’s always on a 100K demo account with 1.0 lot sizes

Great. Wish you all the best then.

 

[coolm]

Dear all,

I have following question regarding MaxPairTrades and FixLot/Multiplier.

1) What is the meaning of MaxPairTrades ? Does it mean the maximum number of currency pair trading at the same time ? Does the EA will select the currency pair for trading under certain criteria and condition.



2) Under the following setting of multiplier and FixLot.


The actual trade lot size from level 1 to level 9 is 0.01 and starting from level 10 is 0.02.

Level/Layer	Trade Lot Size	Calculation : (Fix lot x Multiplier)	Fix Lot	Multiplier
1	0.01	0.0100	0.01​	1.05​
2	0.01	0.0105
3	0.01	0.0110
4	0.01	0.0116
5	0.01	0.0122
6	0.01	0.0128
7	0.01	0.0134
8	0.01	0.0141
9	0.01	0.0148
10	0.02	0.0155

Cheers
Thank you very much.

 

[kecodon8991]

Thanks kecodon8991 for your kind sharing of experience of using this EA. Sorry to hear that you've blown your live account. It happened to me too in the past and frankly speaking it could also happen to anyone at any point of time.

I don't know what broker you use but just for your info that I only use Roboforex and FBS because they are the ones who do offer large leverage of 1:1000 which would be safer for my EA trading. In my past experiences of using this EA with both Roboforex and FBS, all the trades seemed quite consistent on both demo and live accounts. I don't know much about the experiences of other people but, it seemed to me that you're the first one I heard that mentioned about the differences in placing trades between a demo and live account under the same broker. To be honest I have no idea how and why because first of all, I believe none of us is the EA developer or programmer and so we do have limited understanding of how this EA actually work. Secondly, different brokers may have differences in their conditions of operating their trading platforms. Therefore it's important that we do testing EAs with our preferred broker(s) with a much "longer" time say at least 1 month (or 3 months or even more would be much better) "on DEMO accounts only" just to see how the EAs perform. If they performed consistently well, then we may further think of maybe putting the EA on a live account (if you wish to) to see how it goes. At least that's what I do for most of my EA tests.

In my opinion, this EA performed quite consistently well except when once in a while where there's a huge market movement happened suddenly (may be due to a high impact news or so). If the EA settings that you use are not good and safe in terms of risk management, then I think that's when and where your account usually get blown. In general principle as recommended, a lot size of 0.01 lot is to be used for an account with a minimum balance of $1000 (or more if possible) for a reasonably safe trading with this EA. The next thing that I believe is important is about your leverage. The larger your leverage, the better and safer you would be especially during periods when the market suddenly moves strongly against you with a huge drawdown. That's why I always choose a broker that offers me with a large leverage of 1:1000 for my better safety.

Talking about EA settings, I believe NexusFX has indeed shared quite a lot of stuff with very good insights and I would kindly encourage you and many others to spend time reading his comments and explanation on the EA settings. I think you'll appreciate his sharing on his own past experiences of testing with this EA too. To be honest with you, I have copied most of his settings except with just some minor adjustment due to my own preference in terms of risks managment and profit expectation. Having said so, still I have absolutely no guarantee that my own settings would work perfectly well in the long run as the market is always changing and anything could go wrong at any point of time. The only thing we could do is keep on learning (including learning from our past mistakes) and trying our best to learn how to manage our risks properly hoping that our EA settings could keep our accounts survive through a longer period of not just days but months and years (if possible).

Talking about other EAs in your question, sorry to say that up to now I still haven't got a concrete answer of any other EA that is reliable for long term use. As far as I know, I think many would agree with me that all EAs could be risky at any moment and are capable of blowing up accounts. Some are just scam EA, some work well for just a few days, some longer for a whole month or so but later one day suddenly went crazy and blew up accounts. Some might have shown truly awesome results with backtests but yet when put on demo or live accounts they behave completely different and gave you terrible results instead. For me, Life Changer EA could be a reliable EA for long term use. The important thing is to be able to find settings that help to earn consistent profits over a long term and at the same time also able to keep you reasonably safe under most market conditions. That's all I could say about this EA. As for other EA, well... will see. If I do come across any EA that I think is worth to try, well yes... I'll be glad to share more info with you all in the future.

Whichever EA that you choose, and whatever settings that you use, please remind yourself to keep learning on "How to Keep Yourself Safe at ALL Times" and not just focusing on finding EAs that bring you the biggest profit. Because if you cannot manage your risks well, all your profits (including your capital/initial balance) will definitely be all gone soon or later.

Wishing you and everyone all the best in your search of good and reliable EA and settings that work well for you. Till then, take good care and God bless you all for a blessed Christmas season and happy new year

Thank cchong. I use exness broker, 2000 cent account for 0.01 lot, 1:1000 leverage but still blown my account. The advice for this EA is to monitor and manually turn off the EA when the price moves in one direction or bad news and close the losing positions before the account is blown away.

 

[cchong]

Thank cchong. I use exness broker, 2000 cent account for 0.01 lot, 1:1000 leverage but still blown my account. The advice for this EA is to monitor and manually turn off the EA when the price moves in one direction or bad news and close the losing positions before the account is blown away.

Thanks. Yup I agree that it would be good to turn off the EA during high impact news as we know that this EA does not come with any news filter.

Next, apart from using a large leverage and a large account balance with the recommended lot size, I think the other important factor is with the settings. Not too long ago I have also shared in one of my previous comments mentioning about one parameter setting that has got myself and some others into trouble and that was the STOPLOSS value. We know that the default was set at 400 pip. However, the fact of the matter is that there were a few instances where the drawdown pips did hit 400 and so the trades were all closed with a huge loss amount. As a result of that, I have followed another trader's strategy to change the SL value to 0 so that when things happen again in future the trades won't close at 400 pips but would allow the EA continue to work until the trend eventually reverse and finally end with a profit instead of a loss. Having said that however, still there is no guarantee that such SL setting would work well in the long run.

In addtion to that, some other parameter settings such as the 'Multiplier', 'Max trade each side' and 'Max pair trades', these I think are also quite important factors of how much risks we are exposed to when using this EA. The larger the values we set to these parameters, the larger the risks they are of blowing our accounts whenever market moves strongly against us during trading.

Well, let's see how things go then. Wish you all the best in your EA test. Keep up the good work and God bless and have a blessed year end.

 

[coolm]

Dear all,

I have following question regarding MaxPairTrades and FixLot/Multiplier.

1) What is the meaning of MaxPairTrades ? Does it mean the maximum number of currency pair trading at the same time ? Does the EA will select the currency pair for trading under certain criteria and condition.

2) Fixlot and Multiplier. Fixlot 0.01 and Multiplier 1.11. it is rounddown for next level.
such as Level 2 = 0.01 * 1.11 = 0.1 or 0.0111 (i can see 0.1) is it correct?
Level3 = 0.011 * 1.11=0.1 or 0.01221.

Thanks

 

[konrad.visser]

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

awesome. Cant wait to back test it.

 

[cchong]

Dear all,

I have following question regarding MaxPairTrades and FixLot/Multiplier.

1) What is the meaning of MaxPairTrades ? Does it mean the maximum number of currency pair trading at the same time ? Does the EA will select the currency pair for trading under certain criteria and condition.

2) Fixlot and Multiplier. Fixlot 0.01 and Multiplier 1.11. it is rounddown for next level.
such as Level 2 = 0.01 * 1.11 = 0.1 or 0.0111 (i can see 0.1) is it correct?
Level3 = 0.011 * 1.11=0.1 or 0.01221.

Thanks

Hi coolm,
1.) Yes Max pair trades means that the maximum amount of currency pairs allowed to be traded concurrently. Let's just say that there are 12 currency pairs currently available for the EA to work, but since you have set the value of Max pair trades to 2, therefore the EA would only choose a maximum of two different currency pairs, say EURUSD and GBPUSD only for the trading until when one of the currency pairs, say GBPUSD has finally closed trades, then the EA would continue to choose another currency pair say USDJPY to place a new trade. Therefore at any given moment you would only have a maximum of two currency pair being traded. That's one of the ways to help limit your risks as the more currency pairs being traded at the same time, the larger risks you would have of blowing your account especially during strong trending market movements.

For your info, the EA only select from the currency pairs/symbols that are listed inside the parameter settings for its trading. If you don't like some of the currency pairs, you can always edit, delete or add in more pairs as you wish to. As for the topics of "certain criteria and condition", well I think perhaps only the EA developer could answer those questions related to how the EA algorithms were programmed and designed to work.

2.) Since your fix lot is 0.01 and there is no such thing as 0.0111 in trading, so even though you have set multiplier to be 1.11, the next round of trade would still be at 0.01 lot, it will continue to place trades up to a certain level later and then jump straight from 0.01 lot to 0.02. As when it is rounddown or not, that I don't know for sure. I guess you would have to test it out to see for yourself how the calculations work.

Hope that helps.

 

[cchong]

awesome. Cant wait to back test it.

Nope you can't. For your info this is a "Multi-currency" EA and backtests only work for "Single-currency" EA(s). The only way for you to see how this EA works is to put it in demo and/or live tests (in other words it's forward testing and not backtesting).

 

[coolm]

Hi coolm,
1.) Yes Max pair trades means that the maximum amount of currency pairs allowed to be traded concurrently. Let's just say that there are 12 currency pairs currently available for the EA to work, but since you have set the value of Max pair trades to 2, therefore the EA would only choose a maximum of two different currency pairs, say EURUSD and GBPUSD only for the trading until when one of the currency pairs, say GBPUSD has finally closed trades, then the EA would continue to choose another currency pair say USDJPY to place a new trade. Therefore at any given moment you would only have a maximum of two currency pair being traded. That's one of the ways to help limit your risks as the more currency pairs being traded at the same time, the larger risks you would have of blowing your account especially during strong trending market movements.

For your info, the EA only select from the currency pairs/symbols that are listed inside the parameter settings for its trading. If you don't like some of the currency pairs, you can always edit, delete or add in more pairs as you wish to. As for the topics of "certain criteria and condition", well I think perhaps only the EA developer could answer those questions related to how the EA algorithms were programmed and designed to work.

2.) Since your fix lot is 0.01 and there is no such thing as 0.0111 in trading, so even though you have set multiplier to be 1.11, the next round of trade would still be at 0.01 lot, it will continue to place trades up to a certain level later and then jump straight from 0.01 lot to 0.02. As when it is rounddown or not, that I don't know for sure. I guess you would have to test it out to see for yourself how the calculations work.

Hope that helps.

Thank you very much for your answer.

 

[cchong]

Thank you very much for your answer.

You're most welcome. All the best, take care and God bless

 

[coolm]

You're most welcome. All the best, take care and God bless

Dear cchong,

I want to know how the EA setting T/L for each step order and what is the relationship with the setting of TalkProfit? Thank you

Best regards,

 

[cchong]

Dear cchong,

I want to know how the EA setting T/L for each step order and what is the relationship with the setting of TalkProfit? Thank you

Best regards,

Thanks for your questions. Sorry to say that I don't think anyone has the official EA instruction manual so I don't really know how everything works. I don't understand what you mean by "T/L", if you are asking about the Trailing Stop Loss functions, all I know is that it will only start to work only when the trend is moving in your favourable direction. If the trade started but the trend is moving against you, then the trailing stop loss function won't be triggered or activated to work at all. Secondly, for the "Trailing Stop", if value is set at 12.0, not sure I'm right about this but, I think what that means is, let's just say that when a EURUSD BUY trade started moving in a profitable or in your favourite direction which is upward movement and once it has reached 12 pips/points in profit, then the Trailing Stop Loss function would immediately be activated and started to move your stop loss level to 12 pips/points below your current profit level and so the distance between your take profit and your stop loss is 12pips/points. If that profitable trend continues to go up to say 25 pips/point, then the "trailing stop" will also follow this trend by move up your stop loss level to 12pips/points below 25 which should be at 13 pip/point level. The trailing stop loss level will only go up and won't come down in a BUY trade condition (if it is a SELL Trade then it's vice versa). Therefore, it will help protect and secure your profits when the trend is moving in the positive directions. Even when later if the trend of the BUY trade suddenly changed direction and start to keep moving downward, then the EA will eventually and finally close the trade at the 13 pip/points level which is the final Trailing stop loss level and you'll end up earning a profit of 13 pips. That's roughly the way of how the trailing stop loss function works in my understanding.

As for the "Trailing Steps", if the value is set at 1, then the trailing stop loss level will move every time whenever the trend started moving 1 step in your favourable direction. If you set the value to 4, then the trailing stop loss level will only move once every time whenever the trend has moved 4 steps further in your favourable direction. There are pros and cons of what value you put in your Trailing Steps, sometimes it could possibly be better to use a smaller Trailing Steps value so that the Trailing Stop loss function will follow closely with the trend. Yet the problem is, if it follows too closely with the trend movement, then there isn't much space for the trend to fluctuate freely and the trend could possibly changed direction and hit the stop loss level too soon before allowing itself to go further in your favourable direction which could eventually end up earning you with a larger profit. So in short, there are always pros and cons of how big or small value you set to the "Trailing Steps". There is no right or wrong about this matter. Some people might like to do their adjustment by changing the value frequently as they deem fit, some just don't anything and leave it as it is. It all depends on what you prefer according to your own strategy and preference. It's that simple.

Hope that helps. Please bear in mind that I'm not an expert in any part of this and I could be wrong at some point or so. Therefore please do your own research and study on how Trailing Stop Loss functions work and what are the pros and cons of using Trailing Stop Loss. I believe you can simply do a google search on this topic for your better understanding.

Ok that's all I can say about this matter. Wish you and everyone all the best, take care and God bless. Bye.

 

[cchong]

Dear all,

Greetings to you all.

Just like to share my own thoughts on Life Changer EA.

As far as I know ever since I have tested quite a few EAs in the past including Life Changer EA, to my understaning, there is no such thing as "magic" or "perfect" settings for everyone. Many people ask "what is the best setting"? I think the standard answer would be: There is no such thing as THE BEST setting. Yes, there could be some so called "good" and/or safer settings, but still no 100% guarantee as the market is always changing and unpredictable at times. The term "good" or "best" would actually depend on what each individual have in mind with regards to profit and risk expectation and acceptance or tolerance.

As for Life Changer EA, up to this moment, well.... yes, it is indeed a working EA and not a scam EA in my opinion. It does work pretty stable and reasonably well most of the time. Yet, it could also get very risky especially when the market suddenly turned volatile which could cause a huge drawdown with any trading account.

Having said that, I think a few traders like NexusFX (which I do recommend others to follow his comments and updates on this EA if you wish to) and perhaps some other traders too that I don't know of would have a much better understanding and experiences of how this EA works. Therefore please kindly do spend some precious time to go through all those comments that you feel helpful to you for finding settings that work well for you.

Overall, I think Life Changer EA could possibly generate a monthly profit of around 10% more or less if you choose settings that are not that risky in my opinion.

For those of you interested, here are my own settings shared for your info only as follow:
--------------------------------------------------------------------------------------------------------------
Broker: Roboforex
Account Type: Demo Pro
Leverage: 1:1000 (if you use a lower leverage, then your risk would be higher)
Time Frame: M15
Currency pair to be attached to the MT4 chart: I attached EURUSD on ONE chart only.
(Note: actually 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 a CENT account)
Multiplier: 1.11
Step: 20.0
Take Profit: 26.0
Stoploss: 0 (I choose this value instead of the default value of 400 due to the reason that there were instances happened where one of the currency pairs did hit 400 pips in drawdown and that trade was closed with a huge loss amount. As a result, one other trader has shared his method of using a stoploss value of 0 to tackle this problem, and because of that, one other similar incident had happened and the trend after hitting a 400 pips in drawdown, has managed to slowly come back again to the favourable position and eventually the EA closed trade ending in a profit instead of a loss. For your info I myself have tried that too and I have also seen the similar results happened in one of my previous tests. That is why I'm now using this stoploss value of 0 for my current test. )

Max Trade_Each Side: 20 (This may sound more risky for some people. If you don't like it, you may reduce this value as you wish to. In the contrary, some traders would even increase this value as they think they shouldn't limit the EA capabilities of helping to recover quicker the losses of previous trades that were still remained opening with a loss amount. I guess everyone would need to decide on what strategy would work best for him or her. It's entirely up to you to decide what value you want to handle your risks. As simple as that.)

Magic Number: 1234567
Trailing Stop On: True
Trailing Stop: 12.0
Trailing Step: 1
Symbol 1: GBPUSD
Symbol 2: GBPJPY
Symbol 3: AUDUSD
Symbol 4: NZDJPY
Symbol 5: NZDUSD
Symbol 6: AUDJPY
The rest of Symbols from 7-30 I just leave them blank.

(Note: I only use these 6 currency pairs which was mentioned by NexusFX in ForexForum.com, https://www.forexforum.co/threads/life-changer-ea-full-version.2226/post-188039)

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.
----------------------------------------------------------------------------------------------------------------------------------------------
The following are the screenshots taken for your further info of roughly how much profit has been earned through using such setting:






Okay, I think that's pretty much everything I could say about Life Changer EA for now.

Whatever you do, please...DO NOT just focus on how to earn BIG and HUGE profits without even thinking on how to limit and manage your risks. Always think of RISK FIRST before PROFIT. If you can't manage your risks properly, then all your profits would be gone soon or later.

Also, Bigger profit = Bigger risk. It's that simple.

Wishing everyone a very blessed and happy new year of 2023.

Take good care and God bless you all

Bye.

 

[bitghost]

Dear all,

Greetings to you all.

Just like to share my own thoughts on Life Changer EA.

As far as I know ever since I have tested quite a few EAs in the past including Life Changer EA, to my understaning, there is no such thing as "magic" or "perfect" settings for everyone. Many people ask "what is the best setting"? I think the standard answer would be: There is no such thing as THE BEST setting. Yes, there could be some so called "good" and/or safer settings, but still no 100% guarantee as the market is always changing and unpredictable at times. The term "good" or "best" would actually depend on what each individual have in mind with regards to profit and risk expectation and acceptance or tolerance.

As for Life Changer EA, up to this moment, well.... yes, it is indeed a working EA and not a scam EA in my opinion. It does work pretty stable and reasonably well most of the time. Yet, it could also get very risky especially when the market suddenly turned volatile which could cause a huge drawdown with any trading account.

Having said that, I think a few traders like NexusFX (which I do recommend others to follow his comments and updates on this EA if you wish to) and perhaps some other traders too that I don't know of would have a much better understanding and experiences of how this EA works. Therefore please kindly do spend some precious time to go through all those comments that you feel helpful to you for finding settings that work well for you.

Overall, I think Life Changer EA could possibly generate a monthly profit of around 10% more or less if you choose settings that are not that risky in my opinion.

For those of you interested, here are my own settings shared for your info only as follow:
--------------------------------------------------------------------------------------------------------------
Broker: Roboforex
Account Type: Demo Pro
Leverage: 1:1000 (if you use a lower leverage, then your risk would be higher)
Time Frame: M15
Currency pair to be attached to the MT4 chart: I attached EURUSD on ONE chart only.
(Note: actually 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 a CENT account)
Multiplier: 1.11
Step: 20.0
Take Profit: 26.0
Stoploss: 0 (I choose this value instead of the default value of 400 due to the reason that there were instances happened where one of the currency pairs did hit 400 pips in drawdown and that trade was closed with a huge loss amount. As a result, one other trader has shared his method of using a stoploss value of 0 to tackle this problem, and because of that, one other similar incident had happened and the trend after hitting a 400 pips in drawdown, has managed to slowly come back again to the favourable position and eventually the EA closed trade ending in a profit instead of a loss. For your info I myself have tried that too and I have also seen the similar results happened in one of my previous tests. That is why I'm now using this stoploss value of 0 for my current test. )

Max Trade_Each Side: 20 (This may sound more risky for some people. If you don't like it, you may reduce this value as you wish to. In the contrary, some traders would even increase this value as they think they shouldn't limit the EA capabilities of helping to recover quicker the losses of previous trades that were still remained opening with a loss amount. I guess everyone would need to decide on what strategy would work best for him or her. It's entirely up to you to decide what value you want to handle your risks. As simple as that.)

Magic Number: 1234567
Trailing Stop On: True
Trailing Stop: 12.0
Trailing Step: 1
Symbol 1: GBPUSD
Symbol 2: GBPJPY
Symbol 3: AUDUSD
Symbol 4: NZDJPY
Symbol 5: NZDUSD
Symbol 6: AUDJPY
The rest of Symbols from 7-30 I just leave them blank.

(Note: I only use these 6 currency pairs which was mentioned by NexusFX in ForexForum.com, https://www.forexforum.co/threads/life-changer-ea-full-version.2226/post-188039)

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.
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The following are the screenshots taken for your further info of roughly how much profit has been earned through using such setting:

View attachment 23717


View attachment 23718

Okay, I think that's pretty much everything I could say about Life Changer EA for now.

Whatever you do, please...DO NOT just focus on how to earn BIG and HUGE profits without even thinking on how to limit and manage your risks. Always think of RISK FIRST before PROFIT. If you can't manage your risks properly, then all your profits would be gone soon or later.

Also, Bigger profit = Bigger risk. It's that simple.

Wishing everyone a very blessed and happy new year of 2023.

Take good care and God bless you all

Bye.

Thanks for the detailed sharing, I will try it in the future

 

[cchong]

Thanks for the detailed sharing, I will try it in the future

Sure. All the best then. God bless and take care