The maximum SL being used
is 10 pips. Let me show you how I
determine the Stop Loss, because the spread is an important part of it. If
market price for EURUSD is 1.2288 / 1.2289 and I buy, the open price is
1.2289, but SL is determined by 1.2288. The spread can be anything from 1 to 2 pips, so you can expect the maximum SL to be between 11 to 12 pips. Once a trade is in profit, SL might be moved to decrease the risk. I only trade EURUSD or GBPUSD on this account. To automatically set a SL for each trade, I use MT4's Depth of Market, so each trade is assigned a SL automatically. Below are 2 examples.
What drawdown can you expect with this EA?I risk no more than 0.7% per trade. With leverage up to 1:5 and maximum spread at the time of the trade 2 pips, then the highest possible loss would be 10 pips + 2 pip spread + a possible 1-2 pip spike over the SL = 0.7% loss per trade. If you leave the EA settings on default, your risk will be as high as my risk just described, but you can also customize the risk settings to fit your needs. Please choose a broker with low spreads on EU/GU, preferably 1 pip on EU and 2 pips on GU.
How to read the myfxbook statistics? When it comes to maximum drawdown, myfxbook is using 3 methods to calculate it; 1/ Logging of drawdown at each update, 2/ Calculation of balance drawdown, 3/ Calculation of equity drawdown based on historic prices (end of the day). So what does it mean when it comes to my statistics? Even if I don't risk more than 0.7% equity per trade, the overall drawdown on myfxbook can be higher. Because if I lose 2 trades in a row, even if on different days, and both are for the maximum amount, myfxbook will show 1.4% as the highest drawdown, not 0.7%, as for each trade separately. I am explaning it just to avoid confusion.
Do I open more than 1 trade at a time? Yes, but only after the first trade's SL is in profit or breakeven, then a new trade with a 10 pip stop loss can be opened. So, adding to a winning trade is possible. Maximum 1 failed trade per day. No exceptions!
How much should you invest? With my EA you don't have to worry about big drawdowns, trades opened for weeks and hoping for a trend to change, you know what you get and you know how much you can lose per trade, so you can easily figure out how much you want to invest in your account based on my numbers. As for the PAMM, the minimum investment is $10,000, but it is recommended to start with more. Performance fee is 40% for regular accounts and negotiable for large accounts. Please contact me privately to discuss the terms.
How can you get in? The EA, trade copier, costs $2000 per year, if paid yearly or $250 per month, if paid monthly. There is no free trial for the EA, since the rules are fixed and you know what you are getting into.
Payments can be made by bank transfer, skrill or other alternative methods of your choice, if agreed upon. Please contact me at
. If you want to register for the PAMM account, please click the link below and sign-up with our bank.