Easytrade4x
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| Easytrade4x | Click Here! | GBPUSD | H1 | 246 | 40 | yes | automatic |
Forward Test (Demo)
Status: running
Last update: 2010 March 12, 23:00 (GMT)
| EA Name | Statement | Weekly Net P/L [Pips] | Weekly Profit | Weekly Trades | Winning Trades | Max/Min [Pips] | Closed P/L [Pips] | Open P/L [Pips] | Total Profit | Max. DD [%] | Weeks in Test |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Easytrade4x | Statement | -37 | -4% | 5 | 56% | 92 / -40 | -272 | 0 | -27% | 27% | 7 |
Backtest
| EA Name | Statement | Period | Pair | Closed P/L [Pips] | Open P/L [Pips] | Trades | Winning Trades | Max/Min [Pips] | Max. DD [%] | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| Easytrade4x | Statement | 2008 | GBPUSD | -513 | 0 | 258 | 30% | 246 / -40 | 78% | |
| Easytrade4x | Statement | 2007 | GBPUSD | -31 | 0 | 256 | 43% | 178 / -40 | 41% | |
| Easytrade4x | Statement | 2006 | GBPUSD | 561 | 0 | 259 | 40% | 162 / -40 | 29% | |
Homepage / Vendor
Easytrade4x is a product of Shirley Winstanley. The homepage is very simple and it’s easy to believe that this is homemade by a 45 year old mother like stated on the page. The results link on the page shows only 1 trade from 31st of july. Beside that there are no backtest or forward test results at all.
Delivery
As owner of Easytrade4x you get:
- the Easytrade4x Expert Advisor (compiled .ex4 file)
- a 35 page PDF instruction manual
Installation and License
The instruction manual covers every step needed to install the robot, including the installation of a metatrader platform. Easytrade4x comes with unlimited license.
How does it work ?
Easytrade4x uses a breakout strategy. It places a buy stop trade once a day based on a certain trading range.
All trades will be closed with a fixed takeprofit / stoploss or at the end of the trading day. This way no positions are kept open over night.
Settings / Money Management
The most important setting is the correct time window for the robot to work on. Unfortunately the manual does not explain how to handle different brokers, how to adapt to different GMTOffset. The reference broker used is FXPro so the predefined settings should be matching to this broker.
Easytrade4x does not has any built in money management system. The trading lotsize needs to be defined manually. There is not a lot of explanation about that topic in the documentation. The suggested lotsize is 0.1 lots per 1k account size. With the default stoploss of 40 pips this means a risk of 4% which is reasonable.
Conclusion
A home made product following a simple trading system which does not claim heaven on earth. The backtest results don’t look consistent. Let’s see what the forward test will show us.