Firstly I notice it trades on the Eur/Usd with the 1 min. chart. Hmm I think I may already know an EA that trades like this one. The million dollar pips EA comes to mind. Some would say this is a great EA if you have the perfect broker conditions. When you are trading on the lowest possible time frame on MT4 we can witness very different results in price feeds between brokers. Not to mention slippage and execution quality also. This time frame selection is a red flag for me.So what type of trading EA is this?
The website makes it very clear that this is a "semi-martingale" trading system. Also we are told the chances of getting stopped out are about 1:1000. The Maverick EA is based on ATR and "blowing your account" is simply not possible. The martingale progression is as follows; 1, 2, 2, 4, 8 with up to 3 positions being utilized 95% of the time. There is a "video" illustrating how the Maverick EA was constructed. This "video" can be seen here
Backtests are of the tick data variety so this is good, and they can be viewed here.
Forward testing looks good so far, but certainly don't quit your day job.
I really do WANT to like this EA, but trading on such a low time frame is just too risky in my eyes. Basically the planets have to align themselves just so for good performance. Perhaps I am being way too critical with this, but my experience holds me back some. If anyone is trading this, please let us know how it is going!
