My friend pass this EA to me and after run a while Meriam15. Good Profit and I like it.
To make more safer can you add value for it as describes. Article from someone
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How to Make Martingale EAs Safe...........
Hi to all.
I have been backtesting and forward testing the Meriam14 and Meriam15.
While Meriam14 version is more profitable than Meriam15, Meriam15 is safer and more conservative and more advanced.
I have successfully doubled $100 accounts using only 0.01 i.e. 1 micro lot in just 9 trading days with Meriam15, while
I achieved the same result with Meriam14 in just 7 trading days.
Currency pairs tested are
Meriam14 EUR/USD 5 mins Chart
Meriam15 GBP/USD and NZD/USD 5 mins Chart
Trading Concepts used by Meriam15
1. Breakout Trading in the direction of the trend. ( Take Profit = 10 pips)
2. Pull Back trading, in the direction of the prevailing trend.
3. Incremental scale in, 15 pip gaps on every pullback, with the last scale in having the biggest lot entry/risk,
with the hope that the trend will soon return.
4. Auto Adjusting the take profit level to more realistic levels so as to take profits faster and get out of trouble
quicker, especially when the trend is reversing while making sure that at least a small overall profit is made.
5. Using trailing stop to secure profit already made, no matter how little, especially when the EA is trying to
recover from a huge drawdown.
What this Great EA lacks.
This EA is excellent for both trending and ranging markets, but lacks the ability to handle sudden sharp price reveals. it can handle normal slow and gentle reversals, but it is incapable of handling sudden sharp long spikes in the opposite direction.
1. This EA needs a flexible hedging system that will only be triggered once price reverses to a certain point against the trend or once equity is down to 70%.
Once this happens, if the EA was previously opening BUY orders in this manner
Ist order BUY 0.01 at 1.2575
2nd order BUY 0.01 at 1.2560
3rd order BUY 0.02 at 1.2545
If price drops to , let say 1.2530, this would have resulted to a loss of about -45pips -30pips -30pips = -105 pips.
What the EA needs, is for someone to help us code a Hedging/Reversal Methodolgy, where, The EA begins to
gradually open opposing orders while trying to balance out the loosing positions by closing them one by one.
For example, in the above situation where the EA is already -105 in loss, the EA should quickly close the 1st
order i.e. 0.01 at 45pip loss and open a new order of 0.04 with a 10 pip profit target. If this hits it target, the
loss from the first 0.0.1 would have been neutralised.
Next the EA should open another sell order of 0.04 with a 10pip target and immediately close the 2nd 0.01 order.
After taking profit on the second order, the EA should then close the 3rd order at -70pips loss then immediatlely
open a sell order of 0.08 and aim for a 10 pip profit.
If this last take profit is achieved, then the EA will have successfully recovered from a losing position and is now ready to continue making lots of money in the new trend.
If someone can code this, then this Meriam15 will be the greatest Robot ever created.
Note that even with the presence of this shortcoming on the part of this EA, A careful trader can still grow his or her account endlessly in the shortest time possible, by frequently withdrawing his or her profits as soon as they are large enough, so that if the unthinkable happens, the trader would still have benefited greatly.
If this request is implemented, It would mean the end of our collective search for a profitable EA.