I found an ea which I have been testing for the last 2 weeks with good results. However, it needs an exit strategy other than closing the current basket of trades in profit.
I have tried one exit strategy which is a simple 150 stop loss per trade. It has been ok this past week, but it is clear that in a huge trend with low retrace it would blow up the account.
It also needs to be tweaked a bit to allow for more flexibility. Here are some changes I suggest:
- Allow it to trade lots smaller than 0.1. It currently does not trade if lots are smaller are set smaller than that.
- Allow it to trade with fixed lot size as it is currently using some form of martingale. (maybe make the lot multiplier external so it can be changed to 1.00 or any other if desired)
- Adding any of the exit strategy proposed here : HERE
I think it is based on ilan EA, but I have tested Ilan and it doesnt trade exactly the same way. The one I have here seems to be better. In backtest it sucks, but that is because it has not exit strategy and left alone will surely blow up an account at some point.
Attached is forward test done this week with the 150 pip stop loss mentioned earlier (You will see why using that exit strategy will be deadly in a huge trend on the opposite way of your trades and why it would be better to close all trades rather than only closing a few) Also the lot size may be a bit high for the size of the account.