myRandom Expert Advisor
myRandom Forex expert advisor is my own experimental MT4 EA inspired by the seeming randomness of financial trading in general and the Forex trading. Of course, such approach goes astray with the dominant technical and fundamental analyses approach. But it can be considered as the only acceptable method for the believers in the random walk hypothesis.
This EA is very simple; it doesn't use any market indicators. The only condition it checks to decide the direction of the next position (buy or sell) is the random number - if it's an odd number EA goes short, if it's an even number EA goes long.
There are 6 input parameters to tune this expert advisor. Their default settings should be OK for the test GBP/JPY H1 chart, but you can toggle them as you wish to test your money management strategy as it is the only strategy that is applied to such random trading. Here is the list of the input parameters:
- Lots - the number of standard Forex lots to open positions for.
- Slippage - the acceptable price slippage.
- RandomEntryPeriod - the number of bars the EA will wait to open a new position.
- StopLoss - the stop-loss value in pips.
- TakePorfit - the take-profit value in pips.
- MaxPositions - the maximum number of the open positions at the same time.
Despite its seeming uselessness the random Forex trading proved to be profitable on the backtesting performed in the strategy tester. So, if you want to try something new and original myRandom EA is a good choice.
This EA is using a orders' Magic number to track the number of currently open orders for the selected currency pair. So it's safe to trade with it on multiple currency pairs/timeframes in one account.
Testing myRandom expert advisor over a one year period showed almost $1,650 of profit on the GBP/JPY H1 pair/timeframe combination. The maximum drawdown was as low as $29. Testing its performance over the last three years also confirmed its stability.
MiniFAQ
What are the stop-loss and take-profit used by this EA?
It uses 90 pip stop-loss and 600 pip take-profit, without the trailing stop-loss.
How often does it trade?
On hourly GBP/JPY chart (the optimum settings) this EA will trade 6-7 times a month on average.
Download myRandom expert advisor
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