Profitable EA Life Changer EA Full Version

[EAN]

Thanks for sharing the trading bot looking forward to try it.

 

[fdsvgfdgbdfg]

Doji candlesticks and spinning top candlesticks are two distinct candlestick patterns in technical analysis, and they have different characteristics and implications. Here are the key differences between these two candlestick patterns:

 

[Megavatio]

Hello.
Thanks in advance for your answers.
Does anyone have this robot for MT5?
Thank you.

 

[Heim]

Thank you for sharing, it seems to be working with Axi and Tickmill brokers.

 

[rama123]

i hope this will change my life and can make money for me

 

[Megavatio]

Hello.
Thanks in advance for your answers.
Does anyone have this robot for MT5?
Thank you.

 

[litepak]

thanks for sharing, it looks interesting, will try it

 

[Megavatio]

Thanks for your quick responses.
I am overwhelmed.

 

[Lou123]

Dear all,
Hope that everyone is doing fine and well. One thing that I've learned through testing this EA (and many other EA as well) is that there is no guarantee that your account won't get into trouble at any point. Life Changer EA to me was once considered as a "stable" profit earning EA (no more now), until recently my account got blown with just one currency pair keep moving in a very strong trend over several weeks. That's truly sad but indeed a reality that one needs to learn to accept. (just for your info that the lot size ratio or strategy that I've used was 0.03 lot used on a $1000 account, but yet in fact I just don't have $1000, and so I used a cent account to tackle with this issue of not having a bigger account balance. The sad news is, 0.03 lot with $1000 account is still too risky and that's what happened to me in reality. If you really want to be safer, you need to lower your lot size or increase your account balance.)

Now, I'm only testing 0.05 lot with a $10000 demo account (or you could use 0.05 lot with a $100 cent account) which I think is equivalent to 0.01 lot used with a $2000 account (or you could to 0.01 lot with a $20 cent account, do check with your broker on whether they offer cent accounts or not and different brokers would have different requirements of minimum lot size used for cent accounts. Some like Roboforex only allow a minimum of 0.1 lot to be used for cent account. so you can't use 0.01 lot for your cent account. As FBS, I know they also offer cent accounts and they do allow 0.01 lot to be used for their cent accounts.). That means to lower your risks with a much smaller lot size would keep your account safer but at the same time it also gives you a much smaller profit in return, that would means maybe earning a merely monthly profit of roughly 2-4% or so. Well, yes you could earn much bigger profits by simply increasing your lot size but, that would also means that your risk of blowing account would be much higher too. It's as simple as that.

Anyway, that's my latest thought on Life Changer EA. Hope that helps. Wishing you all a safe and good trading experience. Whatever you do, please put "safety first" and "profit second" or else, you are simply looking for trouble. It's that simple. Take care everyone and God bless.

Well said, safety first and profit second...

Hi guys and gals,

Intro

My first post here.
I’m a veteran trader, with 10 years of experience in EA trading and about 100k hours of screentime under my belt.
Using (amongst others) Life Changer EA during the last 4 years I have traded my main account from 5k up to 25k.

General observations

Before going into details about the pairs, chart timeframe and other settings I have been using for the Life Changer EA, a couple of observations based on reading and re-reading the 110 pages of this thread.

• Many 90% rule traders. If you don’t know what the 90% rule is in forex, Google it
• Many people posting in this thread lack the most basic education.
  They don’t seem to know what an average daily range is, don’t know how to calculate the pip value for a forex pair based on position size, don’t know margin requirements, etc. etc.
  One word of advice, “Babypips” has an excellent comprehensive free education. Go study.
• Many traders have unrealistic expectations.
  Watch Lambo Raul videos on Youtube and you’ll see what I mean.Forex trading is a marathon, not a sprint.
  Folks expecting an ROI upwards of 5% per month will most likely blow their account.
• Many traders are undercapitalized. You need serious money to make serious money.
  Alternatively, if you don’t have “serious money”, you will at least need to be very patient.
  There’s nothing wrong opening a 5 USD cent account, but don’t expect to turn that into a 100 USD (cent account) in a year…

My Life Changer EA settings

Pairs: AUDCAD, AUDNZD, NZDCAD
Why these pairs? Look at the pairs traded by similar grid expert advisors such as North East Way, Waka Waka, Hundred Eggs. The ”DNA” of these 3 pairs (daily range, swings, pullbacks) makes them very suitable for grid trading.

Timeframe: M30
Not too quick (M15), not too slow (H1) for me.

Fixlot
0.01 per 500 capital

Step: 40
This represents (at the time of writing) approx. 80% of the daily range of the pairs I am trading

Takeprofit: 30
This will give a profit factor between 2.30 and 2.50.

Multiplier: 1
Anything above 1 is martingale (be it soft or hard martingale) and will blow up your account.
It' s not a question of if, but WHEN it blows up. The only “right” way to using martingale and grid trading in general is by controlling the downside.
That means using an equity stop/max drawdown of X%.
Using a multiplier of 1 is a trading technique employed by some institutional traders. It’s also known as cost averaging.
The advantage of cost averaging – as opposed to martingale - is that your account will be able to withstand much larger sustained movements.
Using multiplier 1 and 1 microlot per 500 capital, by the time it opens the 8th trade in a grid the drawdown is 15%.

Stoploss: 280
Why 280 pips? Simple. By the time the Life Changer EA opens the 8th trade in a grid, the first trade is 7 x 40 pips = 280 pips in drawdown. That means a 5-day sustained solid drop (or rise) at 100% of the ADR, without sufficient pullback to get out. By this time, I’m in a 15% drawdown, which I consider my max acceptable drawdown. So far (4-year period) the max number of trades in a grid I’ve had has been 6.
Maybe there’ll be a day it gets to 8, which means I’ll incur a 15% loss of capital.

Trailstop: 10
Trailstep: 1

Max pairtrades: 2

ROI

These setting will yield an average of 3% per month.
To give you an idea of compounding at 3% ROI per month:
500 USD starting capital * (1.03 ^ 12) = USD 712 capital end of year 1
500 USD starting capital * (1.03 ^ 24) = USD 1016 capital end of year 2
Doubling your account in 2 years time isn't so bad, is it? Go talk to your bank manager, ask him what interest rate he'd offer you for a 2-year USD 500 depo...

There’s a myfxbook account (it's not my account), that has been running the Life Changer EA using exactly these settings and pairs for more than a year.
Search for “life changer” in the systems section and you’ll find only 1 system running on an ICMarkets demo account with a RoMaD of 10. The user is “Tortellini”.

Trade safely!

 

[cchong]

Dear all,
I'm done with Life Changer EA. Not good in my opinion. After testing for three months or so for this strategy, I only got tiny profits (roughly 1.26% monthly profits with 0.05 lot used on a $10000 demo account, max drawdown 20% or so, at one time the maximum of concurrent trades was 28 opening trades which was pretty risky, by the way if I'm not mistaken I was using the default setting for my tests. I have also tried 0.1 lots but at one time it just got too risky and blew the account. That's why I reduced it to 0.05 lot. I was using 1:1000 leverage. Imagine if your leverage is only 1:500 or lower, I think your max drawdown would be much bigger. And if you want to increase your profits by using 0.1 lot with $10000 account, then yes you could surely increase your profits but your risks would also increase significantly too. Not recommended.) Anyway, perhaps some other traders could find better settings with this EA, not me, I have tested this EA for more than two years now with many different settings, so far I think 0.05 lot use for a $10000 account looks okay for now but only with a monthly profit of 1% to 2%. I think it's time for me to leave now and move on. Bye everyone. All the best to your EA tests. Whatever you do, just learn to be safe and keep safe as always. May God bless you all and take care. bye.

 

[henryjove]

Well said, safety first and profit second...

Hi guys and gals,

Intro

My first post here.
I’m a veteran trader, with 10 years of experience in EA trading and about 100k hours of screentime under my belt.
Using (amongst others) Life Changer EA during the last 4 years I have traded my main account from 5k up to 25k.

General observations

Before going into details about the pairs, chart timeframe and other settings I have been using for the Life Changer EA, a couple of observations based on reading and re-reading the 110 pages of this thread.

• Many 90% rule traders. If you don’t know what the 90% rule is in forex, Google it
• Many people posting in this thread lack the most basic education.
  They don’t seem to know what an average daily range is, don’t know how to calculate the pip value for a forex pair based on position size, don’t know margin requirements, etc. etc.
  One word of advice, “Babypips” has an excellent comprehensive free education. Go study.
• Many traders have unrealistic expectations.
  Watch Lambo Raul videos on Youtube and you’ll see what I mean.Forex trading is a marathon, not a sprint.
  Folks expecting an ROI upwards of 5% per month will most likely blow their account.
• Many traders are undercapitalized. You need serious money to make serious money.
  Alternatively, if you don’t have “serious money”, you will at least need to be very patient.
  There’s nothing wrong opening a 5 USD cent account, but don’t expect to turn that into a 100 USD (cent account) in a year…

My Life Changer EA settings

Pairs: AUDCAD, AUDNZD, NZDCAD
Why these pairs? Look at the pairs traded by similar grid expert advisors such as North East Way, Waka Waka, Hundred Eggs. The ”DNA” of these 3 pairs (daily range, swings, pullbacks) makes them very suitable for grid trading.

Timeframe: M30
Not too quick (M15), not too slow (H1) for me.

Fixlot
0.01 per 500 capital

Step: 40
This represents (at the time of writing) approx. 80% of the daily range of the pairs I am trading

Takeprofit: 30
This will give a profit factor between 2.30 and 2.50.

Multiplier: 1
Anything above 1 is martingale (be it soft or hard martingale) and will blow up your account.
It' s not a question of if, but WHEN it blows up. The only “right” way to using martingale and grid trading in general is by controlling the downside.
That means using an equity stop/max drawdown of X%.
Using a multiplier of 1 is a trading technique employed by some institutional traders. It’s also known as cost averaging.
The advantage of cost averaging – as opposed to martingale - is that your account will be able to withstand much larger sustained movements.
Using multiplier 1 and 1 microlot per 500 capital, by the time it opens the 8th trade in a grid the drawdown is 15%.

Stoploss: 280
Why 280 pips? Simple. By the time the Life Changer EA opens the 8th trade in a grid, the first trade is 7 x 40 pips = 280 pips in drawdown. That means a 5-day sustained solid drop (or rise) at 100% of the ADR, without sufficient pullback to get out. By this time, I’m in a 15% drawdown, which I consider my max acceptable drawdown. So far (4-year period) the max number of trades in a grid I’ve had has been 6.
Maybe there’ll be a day it gets to 8, which means I’ll incur a 15% loss of capital.

Trailstop: 10
Trailstep: 1

Max pairtrades: 2

ROI

These setting will yield an average of 3% per month.
To give you an idea of compounding at 3% ROI per month:
500 USD starting capital * (1.03 ^ 12) = USD 712 capital end of year 1
500 USD starting capital * (1.03 ^ 24) = USD 1016 capital end of year 2
Doubling your account in 2 years time isn't so bad, is it? Go talk to your bank manager, ask him what interest rate he'd offer you for a 2-year USD 500 depo...

There’s a myfxbook account (it's not my account), that has been running the Life Changer EA using exactly these settings and pairs for more than a year.
Search for “life changer” in the systems section and you’ll find only 1 system running on an ICMarkets demo account with a RoMaD of 10. The user is “Tortellini”.

Trade safely!

thanks for sharing your journey. If i may ask, how does the trailing work in this ea? is it trailing per trade or per group of trades in the grid?
Just wondering what happens when one trade is closed in grid which was to help recoup the other trades in case the trail works per trade.

 

[Letsgetit]

Dear all,
I'm done with Life Changer EA. Not good in my opinion. After testing for three months or so for this strategy, I only got tiny profits (roughly 1.26% monthly profits with 0.05 lot used on a $10000 demo account, max drawdown 20% or so, at one time the maximum of concurrent trades was 28 opening trades which was pretty risky, by the way if I'm not mistaken I was using the default setting for my tests. I have also tried 0.1 lots but at one time it just got too risky and blew the account. That's why I reduced it to 0.05 lot. I was using 1:1000 leverage. Imagine if your leverage is only 1:500 or lower, I think your max drawdown would be much bigger. And if you want to increase your profits by using 0.1 lot with $10000 account, then yes you could surely increase your profits but your risks would also increase significantly too. Not recommended.) Anyway, perhaps some other traders could find better settings with this EA, not me, I have tested this EA for more than two years now with many different settings, so far I think 0.05 lot use for a $10000 account looks okay for now but only with a monthly profit of 1% to 2%. I think it's time for me to leave now and move on. Bye everyone. All the best to your EA tests. Whatever you do, just learn to be safe and keep safe as always. May God bless you all and take care. bye.

Hey man, how's going. I get it. Trust me I do. Been at this for a solid year now, testing it. I've recently learned that the Life Changer is more of a "seasonal" type of ea where if the markets are trending, you'll make a quick buck. I'm still on it and actually doing it counterproductively, where you let it run on a high lot size for a bit, then pause the trading for some time, make a withdrawal, then run it up again when you don't see a lot of high impact news for the week. It's a lot more manual but can be done. I never recommend using your own money. Get on a prop firm and try it out if you have the funds and ready to go. Much better than using your own money in my opinion. Send me a DM and lets talk

 

[cchong]

Hey man, how's going. I get it. Trust me I do. Been at this for a solid year now, testing it. I've recently learned that the Life Changer is more of a "seasonal" type of ea where if the markets are trending, you'll make a quick buck. I'm still on it and actually doing it counterproductively, where you let it run on a high lot size for a bit, then pause the trading for some time, make a withdrawal, then run it up again when you don't see a lot of high impact news for the week. It's a lot more manual but can be done. I never recommend using your own money. Get on a prop firm and try it out if you have the funds and ready to go. Much better than using your own money in my opinion. Send me a DM and lets talk

Thanks very much for your kind feedback and sharing. Anyway like I've said earlier, I'm pretty much done with this EA and have decided to move on somewhere else. Thanks though for the comments and suggestions. Appreciated for everything. May God continue to bless you and everyone in this channel for all your hardwork and sharing, do keep up the good work and take care

 

[tejaschaudhari00]

Thanks For sharing Thank you so much for sharing this EA as I was looking for it for months.

 

[DH1000]

is it possibke to back test this EA yet or is it still blocked >

 

[cultabi]

yes.. this ea works only when there is no big movement in the market. 1000 usd turned to 3000 usd and now all wiped out..... A lot of manual work is required to succeed with this EA.

 

[buickiran]

it sounds good EA i'm gonna try it next week i hope it works well

 

[drewski1980]

Hey man, how's going. I get it. Trust me I do. Been at this for a solid year now, testing it. I've recently learned that the Life Changer is more of a "seasonal" type of ea where if the markets are trending, you'll make a quick buck. I'm still on it and actually doing it counterproductively, where you let it run on a high lot size for a bit, then pause the trading for some time, make a withdrawal, then run it up again when you don't see a lot of high impact news for the week. It's a lot more manual but can be done. I never recommend using your own money. Get on a prop firm and try it out if you have the funds and ready to go. Much better than using your own money in my opinion. Send me a DM and lets talk

That sort of result really isn't worth the time!!

 

[swamifx2]

I got the MQ4 Version of this EA, hope to convert it to MQ5 and run it in MT5, hope to complete this by this month end.

 

[shanmugapradeep]

I got the MQ4 Version of this EA, hope to convert it to MQ5 and run it in MT5, hope to complete this by this month end.

If it not Chinese version, upload here. i will convert and upload on this forum back