Hi guys,
Okay so I am testing a new ea called magic-champ 2. I have read some good stuff about this ea and it seemed interesting to me so I went ahead and opened a small $500 account just for mc2. I have been running it for about a month now. In its defense I knew I should have waited till the New Year at least but I wanted to set it up.
Nevrtheless I did start it during the holidays and so far as I speak it is down about 1% and has only had 2 trades. So this ea doesn’t seem to be a frequent trader. Anyway I don’t have an opinion yet as to if this ea is decent or not only time will tell.
As many of you know I believe in diversifying my portfolio. I have a couple of excellent ea’s running now but I still like to test new ones. This way I can insure a steady and stable growth in the long run.
If anyone else is running mc2 I would love to hear your input.
awesome johnny thanks for sharing your forward test, i was interested on this one too!
About the trading frequency i read at their website that “magic champ 2 pro” has a 30% more trades than the stardard version.
but im just saying what i’ve read, i have no experience with this whatsoever.
Thanks guys. I appreciate your support. I will continue to post as I learn more about this one. Alexander (the developer) seems to be very committed to our success and that is a plus for me. I try to review ea’s that come from decent developers.
Anyway as usual you can count on my unbiased review of this ea.
Can you guide new comers like me with your expert advice on which EA’s are the best for small time investor like me. Its important I follow the right path in choosing the right EA. thanks in advance
Glad to see your thread on this one. I have been running MC2 live on a small account since 17th Jan and have only seen 3 trades (2* EUR/USD +8.8+7 pips yesterday and 1 GBP/USD -6 pips on the 19th).
I am running the pro version with 3% long and short MM with pretty much everything else at default, but it certainly does seem a very sleepy EA so far (And this is supposed to be 30% less sleepy than standard version). However, if its sleepy and accurate it would be a welcome addition to the mix.
actually you were right the magic number analysis button was clicked for private. Must be a default thing because I want that to be public. mc2 is a slow trader for sure but that may be a good thing.
Well as it turns out I had made a mistake when I loaded there most recent update and as a result I wasn’t getting trades.
Well I fixed that and mc-2 has come alive and my account is up
I know I sound like a broken record but look at that profit-factor!!!
The best I have ever seen!
For those of you who don’t know Profit factor is simply defined as gross profits divided by gross losses. anything above 1 is acceptable but the higher the number the better.
What type of EA is it? Martingale, Scalper, Swing or Counter? A profit factor of 10 is amazing, likely not sustainable, but take those pips while you can!
To be honest I am not sure how mc-2 trades. There has been so few trades and then I mistakingly had it set to manual confirmation and in German no less so I couldn’t understand what I was doing or why it wasn’t trading.
I’m sure the pf will eventually drop but this ea is really awesome.
My risk settings are 8% But that is to account for the total amount of my test accounts. Even though I only have $1500 in that account I also have about $2500 in another account so I figured I wanted mc-2 to trade reflecting the sum of those two accounts. I will do the same when it goes live because I have more than one live main account I will adjust the risk to reflect the whole balance not just the one account.
@S1L1KON this is from Birt’s review site. Not much info but better than nothing.
Trading style: around the clock scalping with dynamic stop losses, lots dynamically calculated as a function of the SL distance (resulting in a fixed percent of the account balance being risked per trade) and with an exit strategy that involves partial closing.
Currency pairs: EURUSD, GBPUSD
Timeframe: M5
Thanks Johnny, I’m going to check it out. I set up a demo account with IBFX to go along with their real account I have. I’d like to put MC2 and the SmartFX EAs on the same account to see what happens, give a month and go from there…
I have the OddBot EA running on my OANDA demo along with the SmartFX ones, but come Monday I’m just going to let OddBot run, just to see how it does on it’s own. I’ll update my myfxbook links once I get everything installed…
Hi S1L1K0N,
I thought the same thing and am currently trying 2 additions to the Smart FX on live accounts. The first one has MS/BH and MC2 and the second has MS/BH with Hyper Ea.
The theory (possibly flawed) is to try the frequent trading, moderate accuracy, duration & drawdown of the MS/BH to be complemented with the infrequent trading, higher accuracy and lower duration & drawdown of the MC2 and Hyper EAs trades.
Will keep you posted how it goes.
which version are you using , there is a basic and a pro- can anyone let me know the difference please? not 100% clear what you are getting from the website for the two versions. what are the principles and strategy behind it as you do not want it running amok- would you switch it off on a high impact announcement or on a low volume day many thanks- looks very promising, keep up the great work johnny- it is much appreciated I can tell you.
