System: Price Action Expert
Description: As its name suggests, this expert advisor uses price action to identify trading opportunities. At present, Price Action Expert trades 13 different forex pairs, with more to be added in the near future. The EA uses from 4 to 6 different strategies to monitor each pair and place pending orders. When a pending order is converted to a live trade, the EA then manages the trade with either a fixed take profit, a trailing stop or both.
Type of Trading: Real
Broker: Global Prime
Started: Jun 10, 2015
Tracking: 0 users
Currency Pairs: AUDCAD, AUDJPY, AUDUSD, EURAUD, EURCAD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, USDCAD, USDCHF, USDJPY, XAUUSD
Essentials: The Price Action Expert system has made 651 trades with an average winning trade of 481.27 pips / $67.37, the average losing trade around -263.31 pips / -$48.03 and an average trade length of 4d.
The best trade it ever had was (Jul 23) 9975.0 in pips and the worst trade was (Jul 20) -7246.0 in pips.
It has won (150/368) 40% of its attempted buys and (124/283) 43% of its attempted sells.
Pros & Cons
- Its average win is larger than 10 pips which is usually a good thing.
- Uses a potentially huge and dangerous stop loss.
- Prone to large drawdowns.