Safe (PowerSM Modified) EA
Hello. I'm not a huge EA fan, but I do find some of them useful or worth trying. I found this somewhere on the internet a while ago (can't remember exactly where). I have tweaked some parameters to make it more suitable for the average trader. It won't double your account in 10 days, but it won't cause it to blow up, unless you're unlucky/losing in a row, or set up excessive leverage in the first place. It does increase in lot size (exponentially) as the consecutive loss count increases, although it is not a typical martingale type system (not that dangerous). I recommend you first test it in a strategy tester and/or forward demo test to see how it feels and maybe adjust some parameters to your liking.
It is highly recommended that you do not overleverage your account on your first few trades. Some parameters that can be adjusted to change relative drawdowns are Take Profit, Stop Loss and Breakeven Stop; as well as many progressions. Batch progression in the default settings is as conservative as the mini-batch size. So changing them will only increase the risk or make it unprofitable. With this EA, you have to be patient and let the trade play out as it progresses . Failure to do so could seriously alter its profitability. As always, each trader takes full responsibility for his or her trading.
Well, let me list the pros and cons of this EA:
advantage:
1) Only conduct one open trade at a time (not concurrently open hedging positions)
2) Can be used with US brokers (non-hedging brokers)
3) There is a martingale component, but it is not fully mature (semi-martingale)
4) Has set take profit and stop loss (if disconnected from the broker or loses power, your trade will still be closed, even BreakevenStop and the next trade will not be executed unless connected) (still better than most other EAs)
5) Will work within any time frame
shortcoming:
1) Be patient (continuous losses may increase and cause the account balance to drop, but if the initial size of the account is large enough, it is very likely to withstand and cover all losses)
2) Will not create earth-shattering profits quickly (small scale and stable growth)
I share this EA for those who are struggling and want an easier "let go" approach. I'm not a coder, so please don't ask me to code in this EA. I welcome any comments or parameter setting suggestions that can improve the effectiveness of this EA.
Good luck!
It is highly recommended that you do not overleverage your account on your first few trades. Some parameters that can be adjusted to change relative drawdowns are Take Profit, Stop Loss and Breakeven Stop; as well as many progressions. Batch progression in the default settings is as conservative as the mini-batch size. So changing them will only increase the risk or make it unprofitable. With this EA, you have to be patient and let the trade play out as it progresses . Failure to do so could seriously alter its profitability. As always, each trader takes full responsibility for his or her trading.
Well, let me list the pros and cons of this EA:
advantage:
1) Only conduct one open trade at a time (not concurrently open hedging positions)
2) Can be used with US brokers (non-hedging brokers)
3) There is a martingale component, but it is not fully mature (semi-martingale)
4) Has set take profit and stop loss (if disconnected from the broker or loses power, your trade will still be closed, even BreakevenStop and the next trade will not be executed unless connected) (still better than most other EAs)
5) Will work within any time frame
shortcoming:
1) Be patient (continuous losses may increase and cause the account balance to drop, but if the initial size of the account is large enough, it is very likely to withstand and cover all losses)
2) Will not create earth-shattering profits quickly (small scale and stable growth)
I share this EA for those who are struggling and want an easier "let go" approach. I'm not a coder, so please don't ask me to code in this EA. I welcome any comments or parameter setting suggestions that can improve the effectiveness of this EA.
Good luck!
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