Expert Advisor "10 Pips" - an extremely simple but profitable robot
Have you ever thought that with proper money management and a few clever tricks, you can enter at almost any point on the chart and exit with a profit? What if you do this only at a certain time, increasing the chances of success? And what if you add an element of slight lot doubling in case of losing trades? Extremely simple ideas sometimes turn out to be quite profitable. And the forex expert advisor "10 Pips," the subject of our review today, is direct proof of that.
Characteristics of the Forex robot "10 Pips"
Platform: Metatrader 4
Expert advisor version: 1.0
Currency pairs: any, preferably EURUSD and GBPUSD
Timeframe: any
Working time: within the specified interval
Recommended brokers: Roboforex, Forex4You
Installation guide
We install the expert advisor as usual. If this is your first time dealing with Forex robots and you have a lot of questions, download and watch the course Forex on Autopilot. Attention! Since the expert advisor is potentially dangerous, be sure to read the article about the basic principles of trading robots based on averaging.
The expert advisor's strategy
This expert advisor was written by our forum member xbms based on a strategy proposed by visitors of the tradelikeapro.ru website.
First, during the preset working hours (from StartHour to EndHour), the expert advisor simultaneously opens a pair of opposite orders, one Buy and one Sell, and sets a StopLoss and TakeProfit for each. If this pair of orders closes with a profit, a new pair is opened. If one of the orders closes by StopLoss, then the next pair of orders is opened with the lot multiplied by Multiplier (the martingale principle, see more about this method here). The number of lot increases (the Tries parameter) is limited. The expert advisor is provided in source code, so all parameters can be changed and the strategy can be modified in every possible way.
Backtests of the expert advisor
Backtests were made with the "default" parameters.
10 pips EURUSD H1 2013-2014
Let us look at the results for each month:
The test results are good
10 pips GBPUSD H1 2013-2014
Let us look at the results for each month:
The test results are good
10 pips AUDUSD H1 2013-2014
Let us look at the results for each month:
The test results are negative
10 pips USDCAD H1 2013-2014
Let us look at the results for each month:
The test results are unstable
Description of settings
- LotsFor10000 - the maximum number of positions opened across the entire account
- StartHour - the hour trading starts according to the broker server time
- SEndHour - the hour trading ends according to the broker server time
- Tries - the number of attempts to exit a drawdown
- Multiplier - the volume multiplier (booster)
- TakeProfit - the take-profit value
- StopLoss - the stop-loss value
- Magic - the expert advisor order magic number
- Slippage - the maximum slippage
- comment - comments for the expert advisor orders
Recommended money management
It is recommended to use LotsFor10000 =0.2 for your chosen pair. That is, the recommended deposit is 100 dollars on a cent account and above.
Conclusion
The 10 Pips expert advisor is a promising and flexible trading robot, the use of which on suitable pairs is safe over the long term.
Important!
For the expert advisor to work correctly, the trading terminal must remain turned on from the market open on Sunday evening until its close on Friday evening. If you cannot keep your computer running 24/5, it is recommended to use a VPS server service.
Download the "10 Pips" expert advisor
Respectfully, Alexey aka Merlin
TradeLikeaPro.ru
Have you ever thought that with proper money management and a few clever tricks, you can enter at almost any point on the chart and still exit with a profit?