Thanks to my friend Tradenew i have bought a new EA, Zamolxis from Eurosmarter.
This EA does not comply to all my rules, because the ref account is a demo and because the history is only 4 months but i have anyway decided to run this EA because the developer is a very well known old member of another forum.
The ref account is: zamolxis-final System by zamolxis | Myfxbook
The vendor, Dave is a very serious person, so i have decided to give him confidence. So far so good and in few trades i have already more than payed my yearly subscription
His website is also full of very interesting forex articles and i suggets to everypne to read them, also if not interested in this EA Forex robots | Forex trading strategies
and i saw its Recovery function is similar with a ea fx-bit(last year i have buy it,but i meet one time the same pairs loss*7 or 8 times,it trade like if one order loss,it will trade 0.01 0.02 0.04 0.08 0.16 0.32 etc untill one order hit tp and every restart.)
here fx-bit myfxbook
(also has other pairs,but now the vendor delete or make it private,after last year i meet loss and loss 7+ times)
maybe you can check the reasults,if you meet loss and loss *4 or 5 tims+,may be you will not happy.
It is a part of the strategy and is explained in the developer website. Anyway in the settings of the EA u can reduce or eliminate the recovery factor, and Also u can let the recovery to start after more consecutive losses. As soon will have my Tick data suite free, will BT the EA on all the pairs for 12 years with different recovery settings.
It is an EA. The recovery factor can be changed and also eliminated and can be started after some consecutive losses. For the moment running the EA with default settings as suggested by Eurosmarter. He does not have nothing in common with FX Bit and the other strategies from the same group (FX Bringer and other craps). Eurosmarter is an old member of Donnaforex and is very well known in the community. Also i am running the EA at half risk than suggested in the manual. Anyway let see how it goes
During the Greek chaos i have closed some eurusd trades in slight gain; then these trades went in sl, so my situation now is completely different: now i had the 3rd loss on EU (not the 7th) and overall i am in gain of about 5 %
Most probably with no manual intervention i was in the same situation. Next weeks i will run my backtests and will see if trades macth with the trades of the vendor account and also will try to see if the EA is profitable reducing the recovery factor (from to 2 to something like 1.5) or increasing the number of consecutive losses before the martingale element kick in
Absolutely agree, martingale always end blowing the account (but Anyway u can be profitable also with a Classic martingale). But Zamolxis is not a martingale EA (i would never run a martingale on my main account). A classic martingale is an EA which opens a grid (or basket) of trades, usually against the current trend, with each subsequent trade with an increased lotsize. This is not absolutely the case of Zamolxis. It opens only one trade x currency with SL and TP levels, never a basket. If on the same pair Are closed 3 consecutive losses the EA start to increase the lotsize for the following trade. The Numbers of consecutive losses and the incremental lot value can be changed by the user and can also be excluded
Anyway Dave replied on his website about the current situation:
