If you do not have a copy of this EA, you can download Version 6.0-for small accounts from here. Use Winzip or 7-zip to unzip the compressed files and you will see SteadyWinnerV6.0-forSmallAccounts.ex4 and a user manual.
The ex.4 file should be put in the folder called "expert" in the directory where you have your Metatrader installed. For example, I installed Metatrader in the directory C:/Program Files/Go Tarder MT4. Then, I should put SteadyWinnerV5.0-forSmallAccounts.ex4 in C:/Program Files/Go Trader MT4/ experts/ . If you don’t understand, read the manual. There is Version 5.0 full version (with money management) available, but you have to read through the end of this page to learn how to get it.
If you are a newbie and do not know what an EA (Expert Advisor for Metatrader) is, please learn from this link . If you do not know what forex is about, you can learn from this link, and you will be able to use my EA.
Now, let me introduce myself. I am not a scammer, nor a professional EA seller. I am a trader like you. I love using EAs and have some experience on it. SteadyWinner is the result of my learning of MQL for many years. I am using the EA on my live account myself, and it generates steady profit. Here below, I will tell you how it works.
1. Follow the trend. There are many indicators helping traders to find out the trend. The indicators I use is just some Expotential MAs on different timeframes. The method is very simple, but surprisingly effective.
2. Enter buy or sell when there is a good position. A good position to buy is when the trend is going up and we buy at a dip. And we do the opposite to make a sell entry. A good positon is sometimes more important than whether we are with the trend or not.
3. Exit when there is a good position. There is a fixed take profit and a stoploss for each order. However, an internal takeprofit and an internal stoploss are put in the code. The EA will try to find a better position to exit when the market situation is not favourable. This help to reduce losses and drawdown.
To my surprise, SteadyWinner, which only based on some simple and traditional indicators, performs even better than many commercial EAs I have tested. Don’t believe? Here below are some backtest results. In V5.0, we do the 99% tick data backtests, which are a bit different from standard 90% backtest provided by Metatrader. Please download our manual to read the detail.
SteadyWinner Version 5.0 Full Version 99% backtest 01 Apr 2007 – 31 Dec 2007 (risk=2%) Click here to see full report
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2008 – 31 Dec 2008 (risk=2%) Click here to see full report
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2009 – 31 Dec 2009 (risk=2%) Click here to see full report
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2010 – 31 Dec 2010 (risk=2%) Click here to see full report
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2011 – 04 Jun 2011 (risk=2%) Click here to see full report
SteadyWinner Version 5.0 Full Version 99% backtest 01 Apr 2007 – 04 Jun 2011 (risk=6%) Click here to see full report
As you can see, the curves are rather smooth, so the trading principles are for the long term. SteadyWinner is not the kind of commercial EAs that exaggerate the rewards and put your account into too much risk, or even use some sorts of martingale systems (increase lotsize when losing) that will eventually blow up your account.
The money managemnet system is very conservative and safe. The green verticle lines at the bottom show the lot size. SteadyWinnerV5.0-for small account (the demo version) can only trade with 0.01and 0.02 on micro account, 0.1 and 0.2 on mini account, and 1.0 and 2.0 on standard account. The EA can run if there is more than $110 US dollars in the account.
In the Full Version, by default we put 2 % of our account free margin into risk, which means at most for each losing trade, we lose 2% of the money we have. To be even safer, what the EA does is to stop trading when there is a losing trade, but in order to monitor the market and let us know that the EA is winning again, we trade at the minimum amount (0.01 for micro account. 0.1 for mini account, 1.0 for standard account. The… Read more…