Expert Advisor
4.84/5
390 total votes.
A Sold-Out Expert Advisor!

Trading Idea

FXMower EA allows setting a desired drawdown limit for the account!

Specifications

License

One Lifetime License for a Real Account and Three Licenses for Demo Accounts.

Broker / VPS Recommendation

Compatible with Any Forex Broker, But We Recommend Installing it on TradingFX VPS and Using it on Tickmill Forex Brokers for the Best Stability and Profitability.

Account Balance / Risk

A Minimum of $250 with a Maximum Set Risk of 35% are Recommended.

User Manual

Detailed Descriptive User Manual is Included.

Support

Friendly and Qualitative 24-hours / 7-days.

Updates

Free Lifetime Updates.

Guarantee

30 Days Money Back Guarantee Offered by the EA Vendor.

Supported Currency Pairs

EURUSD

MetaTrader Chart Timeframe

M30

Backtests

Backtests Settings

Symbol
EURUSD (Euro vs US Dollar)
Period
30 Minutes (M30) 2011.05.31 02:00 - 2017.06.16 00:30
Broker
Model
Every tick (the most precise method based on all available least timeframes)
Parameters
TrailingSTOP=true; Session1="======================================================================="; session_1=true; Lot1_1=0.07; MovingPeriod_1=26; TS1_1=150; SL1_1=390; TP2_1=270; SL2_1=340; TP3_1=200; SL3_1=1160; Session2="======================================================================="; session_2=true; Lot1_2=0.03; MovingPeriod_2=26; TS1_2=150; SL1_2=440; TP2_2=230; SL2_2=700; TP3_2=270; SL3_2=1660;
Bars in test
74941
Ticks modelled
119185447
Modelling quality
99.00%
Initial Deposit
$3000.00
Spread
20

Backtests Results

Total net profit
6703.56
Gross profit
31337.33
Gross loss
-24633.78
Profit factor
1.27
Expected payoff
4.13
Absolute Bal DD
1673.94
Maximal Bal DD
1914.10 (59.07%)
Relative Bal DD
59.07% (1914.10)
Total Trades
1625
Short positions (won %)
651 (63.59%)
Long positions (won %)
974 (61.29%)
Profit trades (% of total)
1011 (62.22%)
Loss trades (% of total)
614 (37.78%)
Largest Profit trade
110.25
Largest Loss trade
-742.93
Average Profit trade
31.00
Average Loss trade
-40.12
Maximum consecutive wins (profit in money)
11 (201.26)
Maximum consecutive losses (loss in money)
5 (-909.91)
Maximal consecutive profit (count of wins)
249.52 (8)
Maximal consecutive loss (count of losses)
-909.91 (5)
Avarage consecutive wins
2
Avarage consecutive losses
2
View Full Backtest

Backtests Settings

Symbol
EURUSD (Euro vs US Dollar)
Period
30 Minutes (M30) 2012.01.02 02:00 - 2017.06.06 00:30 (2012.01.01 - 2017.12.31)
Broker
Model
Every tick (the most precise method based on all available least timeframes)
Parameters
MM=true; risk=35; boost=true; Trailing_STOP="=============================================================="; TrailingSTOP=true; Session1="=============================================================="; session_1=true; Lot1_1=0.02; MovingPeriod_1=26; TS1_1=150; SL1_1=390; TP2_1=270; SL2_1=340; TP3_1=200; SL3_1=1160; Session2="=============================================================="; session_2=true; Lot1_2=0.01; MovingPeriod_2=26; TS1_2=150; SL1_2=440; TP2_2=230; SL2_2=700; TP3_2=270; SL3_2=1660;
Bars in test
68065
Ticks modelled
93924674
Modelling quality
90.00%
Initial Deposit
$3000.00
Spread
20

Backtests Results

Total net profit
5786097.42
Gross profit
7783396.41
Gross loss
-1997298.99
Profit factor
3.90
Expected payoff
3562.87
Absolute Bal DD
156.58
Maximal Bal DD
1155159.30 (24.48%)
Relative Bal DD
35.32% (2948.89)
Total Trades
1624
Short positions (won %)
643 (63.45%)
Long positions (won %)
981 (61.67%)
Profit trades (% of total)
1013 (62.38%)
Loss trades (% of total)
611 (37.62%)
Largest Profit trade
249827.50
Largest Loss trade
-64577.14
Average Profit trade
7683.51
Average Loss trade
-3268.90
Maximum consecutive wins (profit in money)
13 (127.81)
Maximum consecutive losses (loss in money)
4 (-34751.97)
Maximal consecutive profit (count of wins)
253939.44 (3)
Maximal consecutive loss (count of losses)
-68530.38 (2)
Avarage consecutive wins
2
Avarage consecutive losses
2

FXMower's Trading Strategy

FXMower EA of finds entry points for trading using its unique algorithm by recognize trends or fast movements beginning and end, then decide the best direction to open each order.

The EA uses Trailing Stop for the first order with no Take Profit, and quickly alters the Stop Loss. That first order can take the whole profit from a spike or fast movement in any direction.

The EA opens the second and third orders after the first order Stop Loss in the favorable direction detected by the EA either following or against the trend. It never opens orders in one direction giving a chance to get a rollback.

EA Parameters

FXMower Parameters

By default, the first lot for Session 1 is set to 0.02, and for Session 2 is set to 0.01. These values can be left as is, or according to the desired risk, the first lot can be modified manually.

This formula can be used to calculate which lot should be set: 
(Deposit x Risk / 100) /  Max DD1 of Session x 0.01 
1 With lot 0.01 the maximal possible drawdown equals to $107 (in Session 1) and $230 (in Session 2). 

For example; if the deposit is $3,000, and desired risk is 25% of the deposit, then the following should be set: 

  • for Session 1 (3000 x 25 / 100) / 107 x 0.01 = 0.07
  • for Session 2 (3000 x 25 / 100) / 230 x 0.01 = 0.03

Important Note!

Using the default settings, the recommended minimal deposit $250 while risk that exceeds 35% is not recommended. 

Other parameters should be left as default, while advanced users who exactly know their effects on trading can modify them. These parameters include:

Trailing stop (enable/disable) – Only for the first order! When enabled, TP (Take Profit) won't be set so the profitability should be higher, but the risk is slightly higher too. The changes in SL (Stop Loss) will depend on the price, that provides a profitability. Trades are always closed by SL.

Session 1, Session 2 (enable/disable) – The EA trades using two independent trading sessions differing from each other by the entry points, minimum deposits and other parameters. For the following parameters, they have index 1s for Session 1 and index 2s for Session 2. 

Lot 1 – The first order's lot size, if set to 0.01, the maximal possible drawdown (loss) will equal to $107 (in Session 1) and $230 (in Session 2). 

Moving – The lower the value, the faster the reaction of the EA will be to the price movements, for placing the second and third orders (buy or sell). 

Take profit 1 order – TP for the first order. If “Trailing stop” parameter is enabled, this parameter is the value of the “Trailing stop” itself, and TP will be ignored. 

Stop loss 1 order – SL for the first order. After the value of this parameter is reached, the EA will open the second order. 

Take profit 2 order – TP for the second order. No matter if the “Trailing stop” parameter is enabled or not, TP will be set anyway.

Stop loss 2 order – SL for the second order. The EA will open the third order after reaching this parameter's value.

Take profit 3 order – TP for the third order. No matter if the “Trailing stop” parameter is enabled or not, TP will be set anyway.

Stop loss 3 order – SL for the third order. 

Risk

Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.

Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.

Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.