How the Make Money EA was created
In late 2015 Expert4x had a 2-month Forex Trading Competition which ended on the 23rd of January 2016. The winner of the competition produced 860% return in those 2 months. The Winner then got together with Expert4x and a Udemy course called “How I produced an 860% return in 2 months in a Forex trading competition”. After the course was launched and the trading process published we found that most of the trading decisions and position sizing could be adapted for automation.
The Make Money EA was created with all the winning decision making built in. What is more is that more risk management tools were added to filter out risky trades and reduce risk. Targets and stops were also made more flexible.
So What is this EA capable of:
Bearing in mind that this is a newly created EA the best way of evaluating it is by back trading it to see it's potential. These back traded results do not represent the kind of results that will be easily achieved and are given merely as a guide as to the potential of the EA.
Results of an average over 4 000 pips a month are however exceptional
The results show that this EA has good potential as a longer term trading EA using the 4 hour charts or even a scalping EA using 15 minute charts.
Approximately the same results would have been achieved if just over 1% of equity was risked on each trade. The results would have more than doubled if 3% of the account balance is risked on every trade in most cases.
The optimised settings that have produced the results above are available to purchasers of the EA. There is also an abbreviated training course that will show you how to back trade the EA on a continuous basis to update and create your own optimised settings.
After using the EA some of our clients started experimenting with the 5 minute time frame. The results were astounding.
Testing showed that over 10,000 pips are possible per month.
This shows that this EA is actually better as a scalping EA. Please view these results and settings in the setting link below.
Watch this video to see recent live trading results using the settings available to club members
So what does this EA do for you
Please refer to the input section below to see how the items below are catered for in the EA
- The EA will enter a deal in the direction of the trend at the close of every candle at the price of the closed candle.
- The trend is determined by 2 moving Averages (a slow one and a fast one). Both moving averages must be pointing in the same direction for a valid trend to be in place. You can change the setting for these MAs
- You can limit the number of open deals you what to allow.
- Every transaction can be given a target and a stop. Reaching the target or being stopped out is one way transactions are closed.
- When the trend changes from for example a Buy to a Sell you can decide if you want to keep open transactions open or to close them all. That is another way transactions are closed.
- You can use the ADX indication to filter out transaction that occur in sideways markets. The ADX measure the volatility and trendiness of a currency.
- You can position size your trades for this EA on a fixed lot or % of your account/equity/free margin basis
- You can use a flexible trailing stop or a breakeven stop to manage profitable deals.
- You can determine the time of day you want to allow the EA to open deals
- You can determine the Day of the Week you want the EA to open deals.
- You can even change the direction of the trades so that the EA will trade in the opposite direction.
What Makes the Make Money EA different
Many Forex traders buy an off-the-shelf Expert Advisor and automatically assume that it will work for their Broker, their type of broker account, any currency, any time-frame etc. Anybody who has purchased an Expert Advisor will tell you that they never experience the same results as advertised.
To correct this your EA has to be CALIBRATED to the exact account you are going to use to trade the EA. Makes sense doesn't it. It is pointless using the settings from some unknown brokers demo account on your own live account. This is one of the first Expert Advisors that has a manual calibration process which will make sure that you have the best chance of success trading the EA on your personal broker account. So BEFORE you start trading, you MUST calibrate the EA to your Broker account to ensure you have the optimal chances of success. It is an easy process which will take 10 to 20 minutes.
What this process does is that it turns the EA into a true SET and FORGET EA where the EA makes all the Entry and Exit decisions. You only have to check the calibration every now and then.
There is ongoing professional technical support available from EAFactory who are responsible for the technical aspects and support of this EA.
There is a Make Money Forum created in the Expert4x Forum to support traders who need trading assistance and would like to share their experiences with other traders.
The Make Money EA has a revolutionary new, on screen, help facility whereby you can find a possible answer to your exact problem as it happens. This reduces the need for email support by up to 80%.
Although training is given, clients often find the calibration and optimisation process to make sure the EA performs optimally on their personal broker account a challenge. We have created a service whereby we will do this for you. We do this by logging into your computer using Teamviewer and doing the activities directly on your computer which chatting to you on Skype. See below for more details.
Purchase the Make Money EA here
Each purchase comes with 2 licences for use on any 2 computers of your choice. You can use the EA as often as you like on those 2 computers. More licences are available on request. Existing clients with an EAFactory account can purchase the EA for a 50% discount by logging into their personal EAFactory account after the launch. $240
What is the relationship between the Grid Trend Multiplier EA and the Make Money EA
The Make Money EA was designed by Expert4x together with the Winner of the GTM trading competition. The Make Money EA is unique and uses entering on the close of candles in a trend to create the multiplier effect whereas the Grid Trend Multiplier uses a grid approach. It is not an upgrade of the GTM and does not resemble the GTM. The GTM is a trading tool for more experienced traders where the trader determines entries whereas the Make Money EA is a set and forget EA that makes trading decisions for the trader. Stops and targets are more flexible with the Make Money EA.
If the Winner used the GTM EA, why the new Make Money EA?
The winners success was not only based on the GTM EA. His success was actually based on increased lots sizing in trends and filtering times to be in the market or not. Stops and targets are determined in other ways by the Make Money EA. The new EA has many more features for continuous trading built in. This EA actually determines the entry and exit points for the trader on a continuous set and forget basis. It will stop opening deals if market conditions are not good.
My experience that EAs can't adapt to changing market conditions. Am I wrong with this?
Yes, you are right. In general EAs can’t adapt. This EA however only opens trades in trending markets. All Moving Averages have to point in the same direction and the ADX indicator must be at trending levels. These filters are essential to the success of this great EA.
Are Set files provided for the settings to be used?
We do NOT provide set files for many reasons. We do however provide the settings use for the back traded results which traders can copy and create their own set files. These settings worked well in the past and as always nobody can guarantee that they will work into the future. The default setting are not usable as they do not take the timeframe and currencies the trader might use into account. You do however need to CALIBRATE setting provided to your own broker and broker account anyway. That is the best way of aligning your broker account with the EA.
Does the Make Money EA use the multiplier concept?
Yes it does use the multiplier concept. It opens deals in the direction of the trend at the close of each candle rather than at each grid level. Many traders find that a better approach as targets and stops can be set to improve gains rather than cashing in at each grid level which some find limiting.
How well does this EA work with hedging and FIFO rules
Most US brokers have found ways around hedging and FIFO rules. However there is an optional setting where the trading logic makes use of hedging, when both buy and sell trades are on. Also the FIFO may get broken when SL/TP is set and triggers closure out of FIFO order. So there is a slight risk that the EA will not work with your specific broker. That is why the calibration process is so important.
What approximate account and position sizing will be required?
Most of the testing uses $10 000 account with 0.1 ($1 a pip) lot sizing. So a $ 1 000 with 0.01 (10c a pip) lot sizing should provide the same return on investment. This is a rough but good guide.
The account size required when trading live requires more analysis –
*How much do you want to make in the next 12 months,
*what leverage your broker provides,
*what type of account you intend using,
*the minimum lot size allowed by your broker,
* the margin requirements of your broker,
*The way the broker earns income – commission and/or pips
*which currencies you are going to trade,
*which time frame you intend using etc.
Please study the tested setting results to get an idea of how the tested account sizes used relate to the account and approach you intend using