After months of research on trading strategy and mathematical calculations, I have finally been able to build an EA with the help of a MT4 developer.
My EA is Inspired from https://www.mql5.com/en/code/23693, https://www.mql5.com/en/code/26948 and https://www.mql5.com/en/code/20884
Account Type: Real US Cent Account
Signal: Waiting for Trend with help of MA (or) Reversal with help of RSI
Trading Time: Based on Forex Economic Calendar (News filter)
Basic Strategy: Semi-Martingale + Hedging
Trading Type: Automated Trading
Backtest are not important for this EA and strategy. As this based on Real time and future news. I am going to test it with Real cent account for 3 months before i run on standard account.
If backtesting doesn’t work because you’re working on tick level, then I would demo test before working with real money. I had an EA that cleaned up on backtesting, but real market conditions were much more dangerous.
Your backtest shows huge drawdown. Not a criticism, look at my journal and mine potentially can too. But you need a plan to manage your risk. Because that drawdown that put you at 60% dd will happen and you don’t want to give everything back or worse
My EA works on news. It avoids trading on FOMC and NFP. The EA also takes a trade with medium and high-impact news based on values like previous, forecast, and current data.
So, backtesting never works for my EA because it trades based on real-time events, and then it uses Martingale + hedging techniques to balance losing trades. Apart from that, the EA also uses trends and trend reversals to take a trade if there are no high or medium-impact news events.
I am also testing with a real cent account before investing $1K-$10K in a standard account. I am not using a demo account because a demo account does not involve emotions and fear. A demo account only includes greed. This is the reason I chose a $100 real cent account instead of trying in a demo account.
FOMC and NFP create a trend in one or both direction. My EA work based on Martingale + Hedging thus it always better to avoid very high fluctuating and trendy events.
