To become an author of the expert Advisor there is no need to reinvent the wheel. Often it turns out that something new is just well forgotten old. And at times, to become the author of a new expert Advisor (and then sell it), just take the old program, test it and fix bugs (for example, to add a new indicator). By the way, it is better to take the free old version of advisors, so as not to run into a claim regarding the authorship of the program.
A similar path was followed by William Morrison, the author of other acclaimed expert advisors (Forex grow Bot, for example). Created trading EA Fast Forex Millions is a modified version of WinnerH4 old program. The author of course does not tell what changes were made, but successfully offers robot on his website just for 247 dollars. By the way, on the site of the broker A-Markets Ltd(formerly A-Forex) you can keep it yourself for free.
Fast Forex Millions: what to expect from the program
The only notable change made to the Fast Forex Millions – now the advisor works with small deposits. In particular, the optimal is $ 100 (originally in 2000). However, the author was being disingenuous: after all, when it comes to 2000, it may be cent account and $ 20 certainly can afford any trader.
Testing results are pretty: yield for 6 months was 133%, however, the drawdown of 21% is too much. However, see for yourself the backtest below. Only when you download and install the program, do not immediately rush to earn thousands of dollars! Ideally you want to run your robot for another 6 months on a demo account. By the way, on the forums this EA has succumbed to some criticism, but “all love can not be».
Input terms of trade of Fast Forex Millions:
- currency pair — US dollar/yen (you can try other liquid pairs);
- the timeframe is unchanged from the old EA — H4. But there are other opinions, for example, to try to trade on M15.
The work of the Advisor is based on the ATR indicator, which does not work with a stop-loss or take-profit and close positions, depending on the market situation.
Settings of Fast Forex Millions:
- Market Execution — the order is executed at current prices with the installation of the parameter to “true”. In fact, it is similar to ECN, no queries to the trader when the price change is not received, all is automatic;
- ReverseExit — if this option is enabled, the EA will close the position immediately, as a signal for a trend reversal in the opposite direction. It is recommended to enable the option to minimize the risks;
- DualMode — option of hedging. The robot will open 2 opposite orders simultaneously, and closes one of them when you will draw a clear trend. Yes, the trader partially losing profit, but minimizes the risks;
- FilterDeph — one of the options, which will have to “play” with the tuning. Determines the robot’s sensitivity to the market situation. The greater the value, the more accurate the robot will enter a trade, however, as it will affect the overall profitability — a rhetorical question (the more specific the input, the less the number);
- RiskPercent — the risk of the transaction, % of free margin, where the traders agrees to risk;
- FixedLot — the specific size of the trading lot. A value of zero turns on automatic money-management, the calculation is done on the basis of previous risk parameter;
- MagicNumber — option, enabling Fast Forex Millions to identify its trades from other EAS or traders;
- Slippage — indicator of slippage. Specified by the trader in points (amount of allowable slippage). An important parameter for volatile markets by working in real markets, not domestic trade with a broker;
- PerATR — the ATR period. The parameter is set, if you are going to use a dynamic trailing stop. Note that this trailing may and will minimize the risks after pulling price, but it’s not working when there is no connection with the broker;
- Ktp — the parameter that is responsible for a dynamic Take Profit;
- OrderComment — message to the warrants offered by the trading Advisor.
As you can see, there are many parameters responsible for the risk in Fast Forex Millions. On the one hand, this is great, since the robot is aimed at minimizing risks. On the other hand, the trader will have to work hard to configure these options. Note, that part of the profits will “eat up” spread and Commission. And the last tip: do not assume that in the first month you will receive a profit of 10%. 2-3% can be expected (the author even says about 5%), but this is possible only under ideal market settings and situations.