Anyone with a good review of Dragon expert 4.1

[Multi]

Hello guys, anyone with a good review of dragon expert 4.1?

 

[Omone1974]

This EA you must know and understand how it works. In the hands of rookies it will blow your account. It use fibonacci numbers instead of lot multipliers. To limit the risk you must limit the martingale. At a value of 9 you trade in worst case with one lot. When the market move against you and the chart is leaving the grid a change EURUSD of one cent is 1000$ drawdown more. The EA will try to hedge the loosing grid but it start with 0.01 and this is not much to compensate 1 loosing lot. With a martingale set to 9 a balance of 10k would be save to start compounding you account. A martingale set to 8 would reduce you profit, but you can start with 5k. This balance is just for one currency pair and a start lot of 0.01 !!!

 

[Omone1974]

This EA you must know and understand how it works. In the hands of rookies it will blow your account. It use fibonacci numbers instead of lot multipliers. To limit the risk you must limit the martingale. At a value of 9 you trade in worst case with one lot. When the market move against you and the chart is leaving the grid a change EURUSD of one cent is 1000$ drawdown more. The EA will try to hedge the loosing grid but it start with 0.01 and this is not much to compensate 1 loosing lot. With a martingale set to 9 a balance of 10k would be save to start compounding you account. A martingale set to 8 would reduce you profit, but you can start with 5k. This balance is just for one currency pair and a start lot of 0.01 !!!

You can make your life easier when you place a hedge order when you start the EA. The EA build a sell grid first and you can place a buy order with 0.25 or 0.5 lots manually, depends on your martingale number. In that case you don't run in such a deep drawdown. Always try on Demo first.

 

[kehan75]

You can make your life easier when you place a hedge order when you start the EA. The EA build a sell grid first and you can place a buy order with 0.25 or 0.5 lots manually, depends on your martingale number. In that case you don't run in such a deep drawdown. Always try on Demo first.

Do you have good experience running the EA with profit?

 

[citayi9685]

This EA you must know and understand how it works. In the hands of rookies it will blow your account. It use fibonacci numbers instead of lot multipliers. To limit the risk you must limit the martingale. At a value of 9 you trade in worst case with one lot. When the market move against you and the chart is leaving the grid a change EURUSD of one cent is 1000$ drawdown more. The EA will try to hedge the loosing grid but it start with 0.01 and this is not much to compensate 1 loosing lot. With a martingale set to 9 a balance of 10k would be save to start compounding you account. A martingale set to 8 would reduce you profit, but you can start with 5k. This balance is just for one currency pair and a start lot of 0.01 !!!

very informative mate, thanks

 

[mtlguy]

This is a very old thread, but I want to add to this with my experience.

This is EA iike a lamborghini, it will make profits very very fast but it will absolutely blow your account for sure!

Its not if it will blow but when!

So a smart man needs to use breaks when driving a lambo to enjoy the time you have your lambo for as long as possible and not crash it.

Also this is not an EA you set and forget, would you drive your lambo blind?? no! You have to manage it once a day.

Some rules:

1) Only trade these 3 pairs EURUSD, USDJPY, and EURJPY... NEVER GBPJPY!!
2) Only trade during 24-8 hours by using the time filter. (NEVER 24/7 you will blow)
3) Look at the news calendar before every market open (5PM EST) and if there's news for USA let say, don't trade the EURUSD or USDJPY, if red news for JPY or EURO, do the same things for these pairs. Yes it could happen that many days a week there's no trading.
4) Look at the VIX index, this is the volatility index and how the market is becoming erratic... some days there's no red news and accounts blows up, why? The VIX was high (war, something geoplitical, covid, whatever)... If the VIX approaches 24 and over, close everything and wait till it goes down below this... usually the VIX is under 20 most of the year.
5) MOVE out your profit every day (to another account for eaxmple), this EA doesn't compound, so if it blows it will take everything with it... don't forget, your risk is the whole account, and the account will blow it just a matter of time....

I am trading with 1000$ and in you can easily make 25% a month with all of these "breaks".