Hi, with regards to the settings of this EA, although I am still in the midst of finding the best settings that works well for myself, just for your info that I did receive one settting shared by one EA user that claimed to be able to generate a monthly profit of around 6% or so safely for a much longer period of more than 2 years. Here are his settings for your info and reference as follow:
Time Frame: M15
Currency pair: EURUSD (Note: actually it doesn't matter which currency pair you attach on the chart, this EA does not depend on the currency pair attached to the chart. It is a multicurrency EA (therefore you cannot backtest this EA for backtesting only works for single currency pair EA) and it will only place trades according to all the currency pairs that are listed inside the EA parameters. Just make sure that you attach just ONE currency pair of your choice on ONE single chart of your MT4 platform, and the EA will do its job to make decisions of selecting which particular currency pair to trade at any specific time according to its own sets of unknown algorithms.)
Settings:
Fixed Lot: 0.01
Multiplier: 1.11
Step: 20
Stoploss: 0
Trailing Step: 9.0
Max Trade each side: 50
Max Pair Trade: 2
3 other additional currency pairs were added into the EA parameter: GBPCHF, EURCAD, AUDNZD.
The rest of the settings remained as default.
Note: Although I don't know what is his account balance used for this EA. Anyway, my own recommendation for better safety would be to either use $10000 with a standard account or $100 with a cent account which would turn your $100 into 10000 cents and use a lot size of 0.01 for your trades. (bear in mind that with such lot size used, your profits would not be very large, therefore you risks would also be smaller too. The purpose is to control your risks so that your profits could hopefully be better secured in the long run.)
For leverage I would recommend to use 1:1000 "fixed" and not "floating" leverage. It's not recommended to start any live account testing with any EA that you are not yet familiar with. The best way is to always start with a demo account or several demo accounts with different settings for your own observations and learning journey. Wait for a few months (or even more if you prefer to be safer) later to see how the strategy works and how the result goes, then decide on whether you would like to make any further changes to it for better safety and/or results. Only consider to start a live account testing after you are pretty sure that demo testing results match well with your expectations and plans.
Last but not least, this is just a sharing of one trader's own strategy and settings of using this EA. Let me make this crystal clear that I myself DO NOT have any single proof of whether this strategy would really work well for myself and others or not. Therefore, please treat this only as a reference or info for yourself. You may feel free to test it if you wish to but at your own risks. Do not try to blame others if you have failed after trying any kind of strategy mentioned or suggested by others. I believe each one of us would have to learn to take our own responsbility and make our own decisions. The market is always changing and could become very unpredictable at times. What worked well in the past does not always mean that it would also work best in the present and the future. In short, trading is always risky and you could possibly lose money at any point of time. There is no such thing as 100% guarantee success for any strategy or settings used. What else can I say? Dear traders, welcome to the real world of trading. Pray and hope for the best and at the same time, prepare for the worst. Simple as that.
Okay I guess that's all from me for now. Hope that helps. Wish you and everyone all the best in your EA testing, take good care and God bless you all
Regards,
Chong.
