List of 5 Best EAs that Actually Work and make Money

[Rio]

i have got a new usd/cad opened..

did you also load the preset for usd/cad?

if so, then its getting really weird :)

 

I have a boatload of orders in negative float at the moment... but still within the max 30% drawdown as advertised... so I am not worried. It's close to 15% though.

 

Just looking at the entries it's taking.... it gets the overall direction correct, but often falls into market traps and gets slipped by the market for considerable drawdown before coming into profit.

Incredibly inefficient way to trade, but I guess it works out in the long run.

[Sepp Malec]

I have a boatload of orders in negative float at the moment... but still within the max 30% drawdown as advertised... so I am not worried. It's close to 15% though.

 

yeah, first time i have seen it have so many orders open... but i guess there is a first time for everything :D

[Rio]

yeah, first time i have seen it have so many orders open... but i guess there is a first time for everything

 

Still better than the huge drawdown the Pyramid XE routinely gives.... even if the entries could be better.

[cokhisaa]

Dear Rio

With Piramid 8 , how much min balance do you use ?

 

Thansk fo your help for us

[cytyroller]

PY XEv2-2 has a perfect "engine", I think it can give a lot more safer Pips than Mag v4.

Mag v4 is based on indicators and such robots market eaten as a starter.

 

In any case, thank you for your efforts Rio.

 

:)>-

[Rio]

Dear Rio

With Piramid 8 , how much min balance do you use ?

 

Thansk fo your help for us

 

from the website:-

 

Recommended leverage: not below 1:200.

Recommended minimal deposit: 500 USD/cent for 0,01 (Insta Forex lot 0,10) for each currency pair.

Profitability: around 50% per month, or up to 850% per year with re-investment of gained profit.

 

Personally I would stick to the XE2.2 rules, and use $1500 minimum per pair.

Note that Pyramid 8 has settings for only the EU at 3% risk. No GBPUSD settings exist AFAIK

As I have not tested Pyramid 8 as much as I should, I can't really comment further. Do your own demoing.

 

PY XEv2-2 has a perfect "engine", I think it can give a lot more safer Pips than Mag v4.

Mag v4 is based on indicators and such robots market eaten as a starter.

 

I agree, that Pyramid XE is a little more "holistic" in the sense that it doesn't use much in the way of indicators, but currently Magelan v4 has kept it's promise of under 30% drawdown even recently as two pairs are getting smashed around by the USD weakening. This is less drawdown than I have ever seen from Pyramid XE, with more profit.

 

I do get a bit upset when I see some of the trades Magelan takes though. It's taken a recent USDCAD sell trade which has not closed out for ages, which for me would have been a BUY signal and paid out much quicker.

[cokhisaa]

Dear Rio !

 

Could I try XEv2-2 rule ?

 

Many thanks

[Rio]

Dear Rio !

 

Could I try XEv2-2 rule ?

 

Many thanks

 

In Pyramid 8? Pyramid 8 is a rewrite of 5.2 (and XE essentially). You can't use the same set files. Reason is that Pyramid 8 uses MAs to place averaging orders and lock orders... so it is actually more reliant on indicators, and indeed the settings have more entries for this more fine grained control.

 

As was said, the only preset file that it comes with is one for the EURUSD. If you want to run it on two pairs, you need to somehow generate presets for GBPUSD by optimizing the settings on GBPUSD data and cut the risk on both pairs down to 1.5%

 

Otherwise Pyramid 8 uses a similar strategy to Pyramid 8. If you've toyed with XE for long enough, you'll recognise what it's doing more or less, as it is essentially the same but with more intelligent lock/averaging trading.

 

Also, Magellan v4 got an update recently. No new set files as far as I can tell, and they haven't bumped the version. I wonder what changed?

[cokhisaa]

Dear Rio !

 

Sorry about my english , I don't known XE2-2 is Pyrimed 8 :)

 

Here are my BT from 1/ 2011 until now of Pyramid 8

 

http://www.4shared.com/web/login?sId=oCErRTHwSQweRT3F&fau=1&ausk=oCErRTHwSQweRT3F&au=1

 

 

Best

[Rio]

No, Pyramid 8 is not XE. Both have similar trading strategy, but Pyramid 8 is different enough to be safer and less profitable.

[qkhanh02]

Hi Rio,

Did you try Magelan new version ? I did some backtests and see that it's showing not good result. I'm so confused about using old version or switch to new version :(

[Sepp Malec]

Hi Rio,

Did you try Magelan new version ? I did some backtests and see that it's showing not good result. I'm so confused about using old version or switch to new version :(

 

are you thinking of the new 4.11?

[Rio]

I'm toying around with 4.11 on demo.

So far it seems that the averaging presets are making more trades, but has drawdown... whereas the stop loss trades don't fire that often, but usually hit breakeven so as not to profit much.

[Rio]

Finished running a month demo of 4.11

Indeed, averaging makes more money, but you must tolerate drawdown. Stop loss trades didn't make as much, but no major drawdown.

Choosing which set to use is a decision of aggression vs safety IMHO. (I'm sticking with aggression!)

The EA seems to be able to pull about 15% per month consistently while averaging (although there is drawdown to content with).

Maybe a good strategy is to build you account up with averaging and then when it's big enough, go back to using stop losses so you can make withdrawals on a routine basis.

 

I also tried Hedge gate (Their latest EA), but it's a dud. I don't think it will be in profit after 30 days in which case I should be able to get a refund. What a shame. I had high hopes.

[qkhanh02]

Hi Rio,

So do you still use the 4.0 or move to the 4.11 ?

My 4.0 is in large drawdown with GBPUSD and USDCAD now :(

[energetic]

Hi, Rio,

1. have u run 3 default pair with default setting?

2. have u run it non-stop with 24 hrs a day ?

 

Thanks

 

Finished running a month demo of 4.11

Indeed, averaging makes more money, but you must tolerate drawdown. Stop loss trades didn't make as much, but no major drawdown.

Choosing which set to use is a decision of aggression vs safety IMHO. (I'm sticking with aggression!)

The EA seems to be able to pull about 15% per month consistently while averaging (although there is drawdown to content with).

Maybe a good strategy is to build you account up with averaging and then when it's big enough, go back to using stop losses so you can make withdrawals on a routine basis.

 

I also tried Hedge gate (Their latest EA), but it's a dud. I don't think it will be in profit after 30 days in which case I should be able to get a refund. What a shame. I had high hopes.

[Rio]

Hi Rio,

So do you still use the 4.0 or move to the 4.11 ?

My 4.0 is in large drawdown with GBPUSD and USDCAD now :(

 

Moved to 4.11

 

It is only about 20% dd at the moment. These hanging trades take a long time to clear out.

In the meantime, the EA profits some more and with larger lot sizes so that the losing trade lot sizes seem insignificant against the amount of profit being gained in the meantime.

 

I made back the balance that hedge gate wiped from me. Now We just need the pound and cad to retrace and I can clear the books.

[Rio]

Hi, Rio,

1. have u run 3 default pair with default setting?

2. have u run it non-stop with 24 hrs a day ?

 

Thanks

 

Yep. That's correct.

[qkhanh02]

Moved to 4.11

 

It is only about 20% dd at the moment. These hanging trades take a long time to clear out.

In the meantime, the EA profits some more and with larger lot sizes so that the losing trade lot sizes seem insignificant against the amount of profit being gained in the meantime.

 

I made back the balance that hedge gate wiped from me. Now We just need the pound and cad to retrace and I can clear the books.

 

Hi Rio,

 

I see that my settings for EURUSD and USDCAD are the same? Are you getting it too?

[Sepp Malec]

In the meantime, the EA profits some more and with larger lot sizes so that the losing trade lot sizes seem insignificant against the amount of profit being gained in the meantime.

 

that must depend on the account size, because mine is not increasing lot size when in DD

[Rio]

that must depend on the account size, because mine is not increasing lot size when in DD

 

They've changed their presets so that you have to set risk yourself (they've probably done this to cover their asses and to point the finger at other customers who overleverage).

To get it to work like 4.0 you have to set LOT_IS_FIXED to false.

1% risk per pair is about right. I would never use a total of more than 3.0 risk across all pairs, especially when averaging.

 

Anyways, I am reverse engineering the EA. Trying to rip out the averaging routines and the on-screen display... so that may I can rewrite large chunks of the EA and get it to trade a little bit like a proper trader.

It is taking a lot of time as it is a complex EA

[Sepp Malec]

They've changed their presets so that you have to set risk yourself (they've probably done this to cover their asses and to point the finger at other customers who overleverage).

To get it to work like 4.0 you have to set LOT_IS_FIXED to false.

1% risk per pair is about right. I would never use a total of more than 3.0 risk across all pairs, especially when averaging.

 

Anyways, I am reverse engineering the EA. Trying to rip out the averaging routines and the on-screen display... so that may I can rewrite large chunks of the EA and get it to trade a little bit like a proper trader.

It is taking a lot of time as it is a complex EA

 

yeah, just changed the risk to 0.4 per pair, as i was not shure if the 1% they have in the presets was for each pair, or for the 3 pairs combined

[Sepp Malec]

*double post*

[Rio]

I've been running with 1.0 risk per pair and it's been OK. I haven't seen any issues.

for example, Pyramid 8 uses 3.0 risk on one pair, so with 1.0 risk amongst 3 pairs on Magelan the risk is levelled out even further.

I haven't seen drawdown get up over 30% (and if so, not by much)

The nice thing is that balance is constantly increasing as drawdown stays fairly constant.

[Sepp Malec]

I've been running with 1.0 risk per pair and it's been OK. I haven't seen any issues.

for example, Pyramid 8 uses 3.0 risk on one pair, so with 1.0 risk amongst 3 pairs on Magelan the risk is levelled out even further.

I haven't seen drawdown get up over 30% (and if so, not by much)

The nice thing is that balance is constantly increasing as drawdown stays fairly constant.

 

what leverage are you running with?

because i can see that there is big differens in the lot size that magelan chooses on a 1:300 and 1:888 account with 1% in risk level