Explain how your Expert Adviser works

[Finserv]

I see a lot of people talking about Expert Advisers. Testing it , recommending it. We have a lot of experience in Forums that can be used to help new traders. This threat should be used to explain what strategy the EA is using. Recommended starting amount and setting. Explain setting if you can. The dangers of blowing your account etc. The secret of using an EA is understanding the strategy. I spend hours looking at EA and what they actually doing. Trying to understand the.

 

[Finserv]

Lets Start with the Torque EA. This EA i used personally to grow a 3000$ account to 18000$ in 2,5 months. Just to loose my account in a day and so later. I had it adjusted through the developer to trade in two directions. How it works. Unfortunately I dont have the EA or the code. This is my story. In early 2016 some guy told me about this EA thats making money. I tested it for 3 months on a demo account. It made good money. We were trading it on XAUUSD and EURAUD. Roud about June 2016 I decided to buy the VPS and to pay the spreads to the provider. The Ea opened a trade. If it goes in the wrong direction it will open another trade untill it reverses and makes a small profit. It will open in certain grid intervals say 3 trades 8 pips apart, next 3 trades 12 pips apart, next 3 20 pips apart etc. Up to 20 trades it could go. The lots it would open was 0.01,0.01,0.01,0.03,0.09,0.12,0.15,0.21,0.28 etc. (Basically Martingale-Dangerous) There was nothing smart to the EA , like indicaters. I then asked the guy if he can adjust the EA to open a buy and a sell and then take profit to both sides. The problem was that this EA can have big draw downs. I blew my account on the Jacksonville symposium. Whe one Governor said that the fed will increase interst rates after a 5 years and the next governor said that the fed will decrease interest rates at this symposium. The XAUUSD ran 700 pips up anf blew my account as I could safely handle a 240 pip move. What I have learned. Martingale and Grid is profitable if you have enough money in your account. You never know how much you will need. Volitality in the markets is normally from the end of the year. which is not good for these EA's. Dont trade JPY pairs on a martingale grid as they can run 100 of pips. Rather use them for breakouts.