- Martingale EA
- Proven forward test for over 4 years
- Simple logic to buy and sell at a specific time
FXCHARGER（EA）Basic Information
| USDCAD | MAX | |
| Price | $385 | $385 |
| Currency Pair | USDCAD | USDCAD,EURUSD, EURGBP,AUDUSD, USDJPY |
| Time Frame | H1 | |
| Trading Method | Martingale | |
| Terminal | MT4 | |
| Money Back Guarantee | The vendor offers 30 days money back guarantee. Only when the EA is operated according to the vendor’s recommended settings and drawdown of 40% or more occurs. | |
FXCHARGER is an EA that uses the martingale method as its basic strategy.(Reference article: Martingale EA risks and benefits)
FXCHARGER does not predict market movements. By taking advantage of the market’s characteristic of repeating ups and downs, you can make profits by always keeping a position and following the market.
It can be said to be an EA that uses unique trading logic.
There are two types of purchase patterns: USDCAD only and MAX version that can be applied to 3 currency pairs.
Profitability / Drawdown
FXCHARGER’s past forward test resulted in account failure.
The current version has a very clean revenue curve, but there is always a risk of a drawdown like the image below.
September 2022 forward test account went bankrupt.
■Current forward test
The FXCHARGER forward test below is performed on two currency pairs: EURUSD , USDCAD, EURGBP.
Previously, the main trading currencies for FXCHARGER were AUDUSD and EURUSD.
However, both experienced large drawdowns.
And the current target pair is USDCAD.
This is the same as the Forex Truck EA sold by the same vendor.
For Martingale EA, the USDCAD market since 2020 has not experienced any major drawdowns, making it easy to make profits.
However, no one knows what the future market price will be. If a big trend occurs in the USDCAD market, FXCHARGER will suffer a big drawdown.
Trading Method Analysis
EA is generally programmed to combine multiple indicators and anticipate future price movements.
On the other hand, FXCHARGER uses the characteristic that the market price repeats up and down while always holding positions.
First of all, looking at the transaction history chart makes it easy to imagine the trading method.
↓Overall view（EURUSD 1H White＝BUY Red＝SELL）
↓Enlarged view（EURUSD 1H White＝BUY v＝SELL）
Specifically, it repeats Buy and Sell according to the following flow.
① Open both Buy and Sell positions at 20:50 in wintertime (GMT + 2) and 21:50 in summertime (GMT + 3). In other words, start from the hedge position.
② When the market moves 100pip from the Hedge entry, close the profitable position. On the other hand, it will keep the position that holds floating loss.
③ At 20:50 (or 21:50) server time on the next day, make an additional entry with a lot size of 4 times toward the position with a floating loss.
If the market price reverses and a certain amount of profit are generated in total position, all positions will be closed.
On the other hand, if there is still floating loss at 20:50 (or 21:50) on the next day, an additional entry will be made at 4 times the position of the previous entry.
④ If Floating profit appears in the account, all positions will be closed at that time. On the other hand, if your account has floating losses, repeat the 4x lot size additional entry at 20:50 (or 21:50).
It will never have more than 4 positions.
Maximum additional entry example)
| Entry date and time | Lot Size | Buy / Sell | Closed date and time |
| 2016.03.18 20:50 | 0.1 lot | Buy | 2016.03.28 15:54 |
| 2016.03.23 20:50 | 0.4 lot | Buy | 2016.03.28 15:54 |
| 2016.03.24 20:50 | 1.6 lot | Buy | 2016.03.28 15:54 |
| 2016.03.25 20:50 | 6.4 lot | Buy | 2016.03.28 15:54 |
⑤ If there is no holding position at 20:50 (or 21:50), open both buy and sell positions. After that, it is the same as the above ② to ④ and repeat this.
If you look at the transaction history chart again, it is easy to imagine the above trading procedure of FXCHARGER.
The increased rate of lot size is four times that of the previous entry and it is a little risky compared to other Martingale EA, but there is a merit that even small price returns can make a profit.
All positions will be closed when the drawdown specified by the “MAX Risk” parameter occurs. This is a function to protect the account balance and is effectively stop loss.
Forward Test Environment
FXCHARGER’s forward test environment is a real account.
The trading environment differs between demo and real.
Even though the price movements look the same, there are differences in the execution such as slippage. So even if the same EA, the results may be different between demo and real.
FXCHARGER targets large pips, so it is expected that the results will not change significantly between demo and real.
In the first place, the results with the real account are open to the public, so it can be considered that it has been proven that profits can be made with real accounts.
Back Test Result
EURUSD backtest results
| Start Date | 2013-01-01 | 2016-08-15 |
| 43months | ||
| Initial Balance | 10,000 | |
| Lot Size | Adjust according to balance | |
| Final Balance | 141,071 | |
| Total profit | 131,071 | |
| Total rate of return | 1410.7% | |
| Monthly rate of return (compound) | 6.3% | |
| Monthly rate of return (single) | Adjust according to balance | |
| Relative max drawdown | 37.4% | |
| Maximal drawdown | – | |
| Profit factor | 2.10 | |
| Profit trades (% of total) | 62.3% | |
| Total trades | 713 | |
The forward test has a fixed lot size for the first entry (except immediately after activation of the balance protection function). On the other hand, in the backtest, the lot size of the first entry is increasing according to the balance. The backtest and the forward test cannot be compared because the lot sizes are different.
Related EA
FXSTABILIZER is an EA sold by the same company.
FXSTABILIZER is a well-known martingale-type EA and has been a successful EA for a long time.
The developers of FXCHARGER claim that they are not the same person but only belong to the same EA production company.
There are some uncertainties regarding the developer, but you should judge the goodness or badness of the EA by looking at the trade logic of the EA itself and the results of the forward test.
Parameter Settings
| Auto_LotSize | When “enable” is selected, the lot size is automatically set according to the balance based on the following “Max_Risk” parameter. When “Disable” is selected, the entry will be made for the first time with the lot size entered in “Manual_Lot Size”. |
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| Max_Risk | Balance protection function. Specify the allowable drawdown value as a percentage of the balance. The recommended setting of the vendor is 35 (%) when operating with one currency pair. 25 (%) for 2 currency pairs at the same time. |
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| Manual_LotSize | When “Disable” is selected in “Auto_Lot Size”, the lot size entered here is used for the first entry. | ||
| Mini_Lot | Select “enable” if you want to operate in a micro account (1 lot is 1,000 currency) instead of a standard account (1 lot is 100,000 currency). Normally, you can leave it as “disable”. |
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| Auto_GMT | MT4 server time is automatically acquired. Normally leave the default “enable”. | ||
| Manual_GMT | If the above “Auto_GMT” is not working properly for some reason, manually enter the difference from GMT + -0 in this item. | ||
| Magic_Number | Set the magic number. Since it is like a serial number that is automatically assigned, there is no need to change the default settings. | ||
| Slippage | Specify the allowed slippage value. No need to change from default settings | ||
Summary of FXCHARGER
It is a unique martingale EA that always holds positions and makes additional entries at specific timings. This EA does not use indicators or price movements to predict market direction. This is a transaction that only takes advantage of the characteristics of market prices rising and falling.
Balance protection allows you to use a specified maximum drawdown (35% is recommended).
FXCHARGER vendors will increase the lot size by 3.5 times after the drawdown to recover the loss if the balance protection function occurs in the forward test. This is to make the revenue curve look beautiful.
Similar to forward testing, you also have the option to trade with an increased lot size during the post-drawdown period. However, the risk is greatly increased.
If you do not increase the lot size after the drawdown, it will take a very long time to recover your account losses.
Notes on Use
Since it is an EA that moves while allowing relatively large floating loss, the following recommended settings of leverage and balance must be observed.
Leverage
1: 200 or more leverage required
Minimum Deposit
The minimum required balance is $ 700 for the minimum 0.01 lot operation.
(Ratio of $ 1400 for 0.02 lot and $ 700 for 0.1 lot)
In the forward test, starting from 0.1 lot with an initial balance of $ 2000. That is the ratio of $ 200 for 0.01 lot.
The lot size of the forward test is 3.5 times larger than the recommended setting, so if you operate according to the recommended setting the profit rate will be lower than the forward test, but the drawdown will also be smaller.
Profitability may be low, but considering the risks, it is better to operate with the recommended lot size.
Recommended Broker for FXCHARGER
Some brokers offer 100% deposit bonuses that double your balance.
Martingale EA like FXCHARGER operates with floating loss, so it is advantageous to have as many account balances as possible and it will operate stably. On the contrary, if the balance is small, the risk of large loss is high.
Therefore, the deposit bonus of Forex brokers is definitely a good service to use.
Especially, the 100% bonus of “XM (XM Trading) Standard Account“ will cover the floating loss even if the equity balance reaches 0. (Other brokers only have the advantage of being able to open large position, and the bonus disappears when the equity balance reaches 0.)
With a deposit of $ 500, you can trade twice as much as $ 1000, and the maximum leverage is 888 times, which is the most advantageous operating environment for FXCHARGER.
In addition to the double deposit bonus, you can also get an account opening a $30 bonus at XM.
* To receive a 100% deposit bonus + $30 account opening bonus, select “Standard Account (1lot = 100,000)”. A bonus cannot be received with a Zero account.
