Fxpromax 3.0 (fxpromax.com)

About the EA

FxPromax is a scalping EA which works around the clock totally on the EURUSD image on the 1-minute timeframe. I say primarily, as a result of there’s a hyperlink on the developer’s web site to a MyFxBook web page which incorporates a number of trades on a few different symbols, however extra about that later.

The EA depends upon a mixture of a number of totally different indicators to work their mojo and ship commerce entries. Having determined that it wish to commerce, FxPromax then locations a restrict order with a 20 minute expiry to enter the market provided that the the value retraces to the extent of the restrict order.

The result’s that simply fewer than 50% of the restrict orders get a fill and the vast majority of them find yourself being deleted after 20 minutes.

Having entered a commerce with a stuffed order, FxPromax then units a hard and fast stop-loss and take revenue (the default values are 9 pips SL and 120 pips TP). Because it doesn’t set the TP and SL till after the commerce is open, the FxPromax EA works high quality with ECN and STP sort brokers. There is not any stealth system throughout the EA to shut trades forward of those values, so all trades both run to a TP or to a full SL.

FxPromax will solely permit one commerce at a time and, as such, it’s absolutely NFA hedging and FIFO compliant.

The proven fact that FxPromax solely makes use of the fastened TP of 9 pips and a SL of 120 pips makes understanding the efficiency of the EA an easy train in arithmetic. It’s very simple to calculate that the proportion of successful trades which is required for the EA to breakeven is 93.02%. If FxPromax wins greater than 93.02% of its trades, will probably be worthwhile. If it wins lower than 93.02%, it’ll lose cash.

Easy innit! Well no, this state of affairs is basically solely relevant if fixed lot sizes are being employed, nevertheless it’s made a little bit messier as a result of FxPromax contains an possibility to use a type of Martingale to aim a fast restoration after a dropping commerce by growing the commerce sizes of the next batch of trades.

I’ll focus on the Martingale facet of FxPromax in larger element a bit in a while. For the second although, the developer’s web site claims that FxPromax enjoys a 95% price of successful trades. The expectation, due to this fact, is for it to win 255 pips on common for each 100 trades.