Forexbody Money Printer EA Version 4.07 is ready
Direct download link for latest Forexbody EA version 4.07
Time frame now matters, because of the addition of new candle stick trading module, current provided template is designed for 1H timeframe, using other timeframes will affect trading frequency, risk and performance.
This update includes a new feature that will reduce risks on smaller accounts. Very small Forex accounts are at high risk with older version due to use of higher leverage in order to meet minimum lots requirements rules enforced by most brokers, So we includes a feature called AutoMxTrade similar to AutoRiskmax. The schedule is like this:
If AutoMaxTrade Enabled:
Then max trade will be according to this schedule:
Equity < 500 AutoMaxTrade = 1 per direction Equity 500 – 1500 AutoMaxTrade = 2 per direction Equity 1501 – 15000 AutoMaxTrade = 3 per direction Equity 15001 – 50000 AutoMaxTrade = 4 per direction Equity 50001 – 150000 AutoMaxTrade = 5 per direction Equity > 150000 AutoMaxTrade = 6 per direction
If AutoMaxTrade Disabled:
then MaxTrade field value will be used
The new max trade should stay as is
our default settings for Max trade field = 1
our default settings for New Max Trade field = 2
Naturally if some one wants to disable AutoMaxTrade feature, he may want to do some back testing in order to determine the best max trade value for the account and again when the account size change by considerable amount.
Also another trading module is added: Candle stick Module:
We target 4 popular patterns, 2 bullish and 2 bearish, the module has its own trade settings and can be enbled or disabled, with all forexbody parameters added to the module. Can work by itself or combined with current modules. As always absolutely no indicators of any sort are used by our EA.
—————————-
Please Note: Trade restriction WaitForCandleStickPattern s turned on
The result is less often trading, If this option is changed to false, the EA will trade immediately. however, we recommend provided settings for greater profitability on the long run. This option is greatly affected by broker when set to TRUE.
Also, From now on using shorter time frame will also result on more frequent trading due to the addition of new CandleStick trading module, our settings are tested on 1H time frame, by using shorter time frame more trading will occur.
We are now forward testing this version on other time frames, Forward testing takes a long time and will instruct to use other suitable time frames when forward testing is completed for few weeks.
——————————
Delivered date before 16 May /2011
Thanks for the EA. I’m using version 4.07 in a demo platform staring with small as 200USD. So far after few days, i’m in profit with 360USD balance.
Few things:
- the stop loss trail seems not working! Testing this for few days it seems the EA doesn’t place any SL and doesn’t trail the trade in order to stop it for break even or even protecting the profit which then leads to longer and more riskier trades.
- The take profit factor is fix! I mean even if the trend moves in a much more profitable direction, the EA will initiate the TP without any patience for higher gains. (I guess since the trailing is not working these two much be related)
-and generally there are no stop lost defined. The EA doesn’t place any SL. I’ve seen in few cases that the trade is falling into a severe risk of high loss cause of no SL. Not in the beginning and even not after few minutes nor hours in the trade, I didn’t see any sort of modification on trades by EA. (this is despite the visual strategy tester in MT4. There I could see that the EA is modifying the trades)
Thanks