I'm trialing V10 and V11 on demo accounts now. I figure if they can't be profitable on a demo account then they can't be profitable on a live account.
V10 is good, trades, Wins alot of trades but there is one major flaw that I can see that disqualifies it from being a long terms EA...
Over the week I've been trading it's won 90% of it's longs and 89% of its shorts! Pretty good.
But over this week I'm actaully down 0.68%!
Well this is the problem... The average win is 2.43 pips. Take a pip of slippage on a live account and You're at a win rate of 1.43. The AVERAGE LOSS is 18.45 PIPS! Take slippage and you're going close to a risk to reward of 10:1. You risk 10 units to win one! Even at 90% win rate you're not going to end up profitable.
V11 is much better, with an average win of 2.73 pips and an average loss of 5.73 pips, but V10 is currently the release. I've not paid for the pro version yet, and unless they have some secret settings that fixes this flaw, it's not worth my money... You can't get something sustainable with risking so much for so little return IMO.
Can anyone suggest a solution to this? I suspect if I have the stop loss closer then my win rate will go through the floor? It's a bit hard to backtest this and optimize as the news filter won't work (the news filter is awesome by the way!).
Thanks in advance