An EURCHF M5 martingale scalper EA that trades 24/5… A somewhat original concept compared to the others out there. Normally, most EAs (if not all) that use martingale will make your account vanish sooner or later, but before I make any assumption let’s see if that holds true with FX Equity Builder.
It’s protected with a commercial protection, ForexCIO but that doesn’t really mean much, other than the fact that they care about it enough not to let the next random user with a decompiler inspect their code. I have to say that the programmers are not the most imaginative I’ve seen and despite paying several hundred dollars for the protection, they didn’t go the full length and made a very poor overall implementation. The EA comes with a manual, a DLL locked to your account with a built-in expiration date and with a useless file that was used for the protection and that shouldn’t be distributed with the EA.
Strategy
It works just like any other Martingale EA: it opens a position based on some internal voodoo signal and starts praying hard. If the market goes against it, it opens another position with an increased number of lots. If the market keeps going against it, it starts cursing at the non-working prayer and opens even more positions with even more lots until it hits the trade limit you configured, at which point it waits until the market comes back and it can close the trades at a profit.
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