Free EA

[jim_smith_uk@hotmail.com]

Hi

Please feel fred to use/test this EA.
Apparently it can perform very well. It works on demo and live accounts without restrictions.

All manuals etc are one the website.

Good Luck

Forex Autopilot

[Elroch]

Based on a review of an earlier version of this EA where it wiped out an account in testing, it used a Martingale staking system. Martingale staking systems have the characteristic that they usually produce extremely good steady growth of capital, even with systems without a genuine edge, but occasionally wipe out the account. Hence they are viewed as worthless for serious use by anyone who has an understanding of statistics.

To be more precise, all a Martingale staking system can do (by comparison with a level staking or constant percentage staking system) is to increase the uncertainty of the return, while not increasing the mean return.

Please excuse my purely negative tone, but Martingale staking is one of the most popular methods for dressing up pigs ears as silk purses, and one of the most common way for punters to be suckered.

There is a claim by a user/affiliate on the web that they have dropped the Martingale staking in the latest version. Frankly I would find it difficult to trust a system from someone who was dumb enough (or deceiptful enough) to use a Martingale staking system in a previous version.

[BrianSNJ]

On the whole Martingale System -

If you research professional gamblers and successful gambling strategies you will find that they steer wide and clear of the Martingale betting strategies.

Why? They cause you tremendous monetary damage. Basically, the philosophy is to add to an already losing position until it turns around. You are trying to win back what you have lost plus extra in one big win. Sure, in theory this MAY work, but only if you have an infinite bank account.

This is funny, because it is also one of the primary character flaws of gambling addicts. They keep believing in that 'one big score' that will set them up for life. It never happens.

[mytwopips]

I am not very good at jumping on a trend. I look for oversold and overbought conditions and trade the retrace back. If the pair keeps going on discount I will buy more, or vice versa. With that said, it is always at the same increments and same size lots. When the pair comes back to what looks to be a neutral position either I will be at profit or loss and close out.

With my strategy, a martingale could look tempting. As tempting as it looks, in the end it will lead to one thing only, an account blow out.

Any system that trades a martingale will eventually fail and wipe away your whole account. Beware!

[william007]

'Any system that trades a martingale will eventually fail and wipe away your whole account. Beware!' I agree.




----------------------------------------------
Kind Regards!
William.

[Pipsterdude]

This is what appears to be a former pay-for-use EA and the written material seems to be very professionally written. Just wondering why is it now free? Maybe it isn't very good and blowed a few big accounts....never can tell!

[lolpie]

I used that EA...the maker reccomends using NO stop loss! It's a piece of crap to be honest

[mastergunner99]

Originally Posted by Pipsterdude

This is what appears to be a former pay-for-use EA and the written material seems to be very professionally written. Just wondering why is it now free? Maybe it isn't very good and blowed a few big accounts....never can tell!

I don't think the site itself is giving it away for free. This looks like the members page, that isn't really secure apparently.