Dear all,
Greetings to you all.
Just like to share my own thoughts on Life Changer EA.
As far as I know ever since I have tested quite a few EAs in the past including Life Changer EA, to my understaning, there is no such thing as "magic" or "perfect" settings for everyone. Many people ask "what is the best setting"? I think the standard answer would be: There is no such thing as THE BEST setting. Yes, there could be some so called "good" and/or safer settings, but still no 100% guarantee as the market is always changing and unpredictable at times. The term "good" or "best" would actually depend on what each individual have in mind with regards to profit and risk expectation and acceptance or tolerance.
As for Life Changer EA, up to this moment, well.... yes, it is indeed a working EA and not a scam EA in my opinion. It does work pretty stable and reasonably well most of the time. Yet, it could also get very risky especially when the market suddenly turned volatile which could cause a huge drawdown with any trading account.
Having said that, I think a few traders like NexusFX (which I do recommend others to follow his comments and updates on this EA if you wish to) and perhaps some other traders too that I don't know of would have a much better understanding and experiences of how this EA works. Therefore please kindly do spend some precious time to go through all those comments that you feel helpful to you for finding settings that work well for you.
Overall, I think Life Changer EA could possibly generate a monthly profit of around 10% more or less if you choose settings that are not that risky in my opinion.
For those of you interested, here are my own settings shared for your info only as follow:
--------------------------------------------------------------------------------------------------------------
Broker: Roboforex
Account Type: Demo Pro
Leverage: 1:1000 (if you use a lower leverage, then your risk would be higher)
Time Frame: M15
Currency pair to be attached to the MT4 chart: I attached EURUSD on ONE chart only.
(Note: actually It does not matter which currency pair that you attached on the chart, just choose any ONE currency pair and attach it onto the chart for the EA to work. The EA would only trade with the currency pairs that are listed on the SYMBOLS from 1-30 under the EA settings.
Fix lot: 0.01 (used for $1000 account or $10 with a CENT account)
Multiplier: 1.11
Step: 20.0
Take Profit: 26.0
Stoploss: 0 (I choose this value instead of the default value of 400 due to the reason that there were instances happened where one of the currency pairs did hit 400 pips in drawdown and that trade was closed with a huge loss amount. As a result, one other trader has shared his method of using a stoploss value of 0 to tackle this problem, and because of that, one other similar incident had happened and the trend after hitting a 400 pips in drawdown, has managed to slowly come back again to the favourable position and eventually the EA closed trade ending in a profit instead of a loss. For your info I myself have tried that too and I have also seen the similar results happened in one of my previous tests. That is why I'm now using this stoploss value of 0 for my current test. )
Max Trade_Each Side: 20 (This may sound more risky for some people. If you don't like it, you may reduce this value as you wish to. In the contrary, some traders would even increase this value as they think they shouldn't limit the EA capabilities of helping to recover quicker the losses of previous trades that were still remained opening with a loss amount. I guess everyone would need to decide on what strategy would work best for him or her. It's entirely up to you to decide what value you want to handle your risks. As simple as that.)
Magic Number: 1234567
Trailing Stop On: True
Trailing Stop: 12.0
Trailing Step: 1
Symbol 1: GBPUSD
Symbol 2: GBPJPY
Symbol 3: AUDUSD
Symbol 4: NZDJPY
Symbol 5: NZDUSD
Symbol 6: AUDJPY
The rest of Symbols from 7-30 I just leave them blank.
(Note: I only use these 6 currency pairs which was mentioned by NexusFX in ForexForum.com,
https://www.forexforum.co/threads/life-changer-ea-full-version.2226/post-188039)
Max Pair Trades: 2 (If you increase the value, be sure to see much more risks being applied to your account. For me, I think 2 would be the maximum risks that I could accept for my account. If you like to further reduce your risks, you could simply change it to 1 if you wish to.)
The rest of the settings I just leave them as default.
----------------------------------------------------------------------------------------------------------------------------------------------
The following are the screenshots taken for your further info of roughly how much profit has been earned through using such setting:
View attachment 23717
View attachment 23718
Okay, I think that's pretty much everything I could say about Life Changer EA for now.
Whatever you do, please...DO NOT just focus on how to earn BIG and HUGE profits without even thinking on how to limit and manage your risks. Always think of RISK FIRST before PROFIT. If you can't manage your risks properly, then all your profits would be gone soon or later.
Also, Bigger profit = Bigger risk. It's that simple.
Wishing everyone a very blessed and happy new year of 2023.
Take good care and God bless you all
Bye.
