“Benefit” EA - Brexit is not a hindrance to martingale

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Hello, dear Forex traders.

The pursuit of profit is not an easy path. Long time we did not have robots to help in the dispersal of the deposits. We’re getting better 🙂

We present a “dangerous”, but profitable Benefit EA, which will certainly be interesting to many traders. Its distinctive features are the use of the principle of averaging when losing (Martingale) and work on the “atypical” for martingale USDJPY pair.

Profitability of the «Benefit» advisor was confirmed by the independent tests, besides Benefit quietly endured Brexit. In this article, we will tell you about this EA, how to use it, what to expect, its pros and cons.

Advisor Features

  • Platform: Metatrader 4
  • Advisor Version: 2.1
  • Currency pairs: USDJPY
  • Timeframe: M15
  • Working Hours: around the clock (may be limited)
  • Recommended brokers: Roboforex, Forex4You (cent accounts)

 

Installation FAQ

We install Advisor as usual. If you are new to the Forex robots and you have a lot of questions – read this article. Attention! As the advisor is potentially dangerous, be sure to read the article about the basic principles of trading robots based on averaging.

Advisor Strategy

Benefit is a typical representative of the advisors family using the martingale principle in trade. At the beginning, the advisor immediately puts buy and sell orders in both directions. Then, when the price moves in any direction, a losing position is added up by a new one, at a predetermined distance from the level of the first one and with a larger lot. Thus, we put an overall take-profit for a formed orders grid. At a reversal, Advisor closes an orders grid with a profit. Orders placement settings can be specified in external advisor parameters.

Attention! «Benefit» Advisor uses the martingale strategy. Sooner or later there will be a big loss, but with periodic investment withdrawals, the theory of probability works in our favor. After the withdrawal of the initial deposit, a dangerous martingale strategy immediately becomes break-even and highly profitable one.

Benefit Advisor operation example:

Advisor Backtest

A preset settings file from the Advisor developer was used in the test.

When trading in unfavorable periods, the loss of the deposits is possible through a “poker” on the chart typical to Ilan class advisors.

Periodic withdrawal of profits is a must for this type of advisors!

Developers account (USD/JPY)

Independent «Benefit» EA Monitoring

Settings Description

Base settings

  • New_Cycle - turning advisor on
  • Auto_Detect_5_Digit_Brokers - 5-digit broker auto-detection
  • MAGIC – orders magic
  • Slippage – maximum slippage of orders in pips
  • Max_Trades - the maximum number of working orders (in one direction)
  • Max_Lot - maximum lot size

Time filter settings

  • Time_Filters – turning time filters on
  • Trading_Time_1_Start - beginning of the first fragment of trading time
  • Trading_Time_1_End - end of the first fragment of trading time
  • Trading_Time_2_Start - beginning of the second fragment of trading time
  • Trading_Time_2_End - end of the second fragment of trading time

TP settings (take profit settings)

  • TP - the size of the take profit in pips
  • TP1 - the size of the take profit in pips at trawl
  • VTP – turning on of the Virtual take profit
  • Tral_Start – at what level of profit to turn on trawl
  • Tral_Size - trawl size in pips

Risk Reduction System

  • RRS – turning on the Risk Reduction System function
  • RRSnOrder - order number
  • RRS_TP - take profit when using RRS
  • RRS_Tral_Start - indent in pips, from which RRS is turned on
  • RRS_Tral_Size - the size of the active RRS trawl
  • RRS_Profit_Percent – percentage of calculated profit with the active RRS

Buy settings (settings for buy orders)

  • Step_Buy - step between buy orders
  • Step_Coef_Buy – coefficient of distance between orders increase
  • Step_Coef_Start_Order_Buy – in how many grid steps the next increase of buy order distance takes place
  • Step_Mass_Buy - a direct buy grid steps setting
  • Min_Lot_Buy - minimum lot in the series of buy orders
  • Lot_Exp_Buy - coefficient of order size increase at the next step

Sell settings

  • Step_Sell - step between sell orders
  • Step_Coef_Sell – coefficient of distance between sell orders increase
  • Step_Coef_Start_Order_Sell – after how many grid steps distance between sell orders increase is applied
  • Step_Mass_Sell - a direct sell grid steps setting
  • Min_Lot_Sell - minimum lot in the series of sell orders
  • Lot_Exp_Sell coefficient of lot multiplication when setting the next step in the sell grid

Color settings (chart color display settings)

  • Buy_BE_Color, Sell_BE_Color, Buy_TP_Color, Sell_TP_Color, Buy_Trail_Color, Sell_Trail_Color, Buy_LOT_TrailColor, Sell_LOT_TrailColor, RRS_Color_Sell, RRS_Color_Buy – setting colors of the corresponding parameters in the info panel

Attention! Don’t change anything in the Advisor parameters and use only recommended values, if you don’t understand exactly, what you do!

Recommended money-management

Not less than 10000 currency units for 0.01 lot. For cent accounts, minimal deposit is 100 USD (10.000 cents).

Conclusion

Benefit Advisor is a profitable robot based on averaging (Martingale), which shows good results, in strict abidance by rules for handling hazardous advisors.

Important !!!

To work correctly, advisor trading platform should be turned on from the opening of the market on Sunday night until it closes on Friday evening. If you are unable to keep the computer in working order 24/5, it is recommended to use the VPS service.

 

Download «Benefit» EA

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