Lower risk 5 minute settings for the MakeMoney EA
The MakeMoney EA is a high risk / High Return EA that can produce very high returns but at the same time very high drawdowns.
The drawdown to gains ratio is a good indicator of risk. The other ratio often used is the negative trades to gains ratio. Examples of these will be shown below.
The recent MakeMoney upgrade have introduced a few more advance open trade management tools.
The focus in the initial periods of this EA's life has been on maximizing gains in spite of the high risks involved. Recently the focus has changed to lowering drawdowns and reducing risk but still producing a good return. The upgrade and most recent settings found have made this possible.
The optimisation approach used below is to lower the maximum number of deals to a maximum of 2 buys and 2 sells and to trade trade on a 24 hour basis. This would give the trade management tools an opportunity to optimally manage open deals.
Using the lower number of open deal dramatically reduces the amount of capital required to trade this EA.
Below is a comparison of the various options
Results based on the LOWER RISK AND DRAW-DOWN settings below. Please remember to use these setting to optimise for your own broker.
Gain: $4 508
Drawdown: $ 725 (16% of gain)
Negative transactions: -$3,363 (74% of gain)
Deals: 90 (14 weeks)
Min capital based on drawdown: $1 000
RETURN ON INVESTMENT 450% (14 weeks)
Lower risk due to a max of 4 open deals, lower drawdowns, fewer deals and lower capital required
The current 5 minute MAXIMUM PROFIT settings for the GBPJPY(based on 0.1 lots) available at this link:- GBPJPY 5 Min
Gain: $37 710
Draw down: $ 23, 754 (63%)
Negative transactions: -$205,412 (544%)
Deals: 5840 (2 months)
Min capital based on drawdown: $30 000
RETURN ON INVESTMENT: 125% (9 Weeks)
High risk due to the high number of open deals and Capital required
Settings and results based on the GBPJPY 5 Minute charts
Recent test results
The testing period was from 1 July to 10 October and the final results are based on the every tick basis.
Future development
Future development of this concept into more currencies and more timeframes will mainly take place in the club and be based on discussions and feedback by club members. EA owners will be given updated settings based on the club activities.
Club members can log into the Club Website to access the Club Forum to discuss the development of this concept into the other currencies and timeframes and whether this approach should be used for investment options.