FLEX EA Basic Information

There are two types of purchase patterns, the higher one ($ 495 during the campaign) can use up to two real accounts, and “Headge EA” is attached.
However, the result of “Headge EA” is not so good, so the main difference is that the number of licenses is 1 or 2.

The basic logic of FLEX EA is martingale. (Reference article: Martingale EA risks and benefits)

There is a wide range of settings that can be customized by the user, and there are many options.

The number of parameter items of FLEX EA is more than 130, which shows that it is an EA with outstanding customization.

On the other hand, there are so many choices that you may not know how to set it.
However, it is possible to use the settings that gave good results in the forward test as they are.

Since FLEX EA has many setting items, the number of published forward tests exceeds 100.

Specifically, it is not a difficult task because you just download the SET file from the members forum of FLEX EA (accessible after purchase) and import it from the “Load” button on the parameter input screen of EA with MT4.

There are many settings that have achieved good results in the forward test. On the other hand, there are also settings with bad results and broken accounts.

In other words, since there are many setting options, the result depends largely on how you set them.

However, the common point is that the basic strategy is martingale, so it is better to be aware of the possibility of large losses at once.
This EA can control the maximum loss by parameter setting, so it can prevent  from losing as much as account broken. Even if big stop loss occurs, it is good if the profit is generated in the long term. What matters is the long-term profit / loss ratio.

Flex EA [Official Page]

 

FLEX EA Features of Entry & Exit

Use of Indicators

You can customize your entry or exit with the various indicators below.

Various Stop Loss Settings

 

Virtual Trade & News Filter

FLEX EA is “Martingale EA with highly customizable entry and exit”.
Other characteristic setting items are introduced below.

Virtual Trade

It is a function that makes a virtual trade in the background and determines the entry point based on the result of the virtual trade.
(This is virtual trades inside the EA. Since it is not actually trade, there is no change in profit or loss.)
Based on the assumption that market conditions and price movements will always change, FLEX EA will automatically adjust the entry while monitoring the market condition by virtual trading.

Specifically, you can select a numerical value with the parameter of “Virtual Trades”. The larger the value, the safer the entry based on the result of virtual trading
Conversely, the smaller the “Virtual Trades” parameter value, the more aggressive the trade.

News Filter

The FLEX EA has a news filter function. Market prices will move significantly when major economic indexes are announced.
Therefore, after the news or index is released, there is a possibility that large amount of profit can be obtained, but there is also risk of large loss.

Especially for Martingale EA, large price movement is risk of large loss. Therefore, the news filter function is useful in reducing the risk of loss.

Specifically, you can set three levels as below by setting the parameter of “News Impact”.

In addition, it is possible to select how long the trading should be stopped before and after the news and whether to close the existing positions with other news filter parameters.

Profitability / Drawdown ＆ Method Analysis

Since the results vary greatly depending on the parameter settings, it is not possible to comprehensively evaluate the profitability and risks of FLEX EA itself.

For reference only, let’s analyze the settings that are performing well.

 

GLOBAL DE TDI SLOPE H1 Setting

Trading Method Analysis (Flex GLOBAL DE TDI SLOPE H1）

Martingale method is used.
The trading history chart below shows that if the price moves significantly against your position, you will have an additional position.

■USDJPY　White＝BUY　Red＝SELL

It operates not with a single currency pair, but with a variety of pairs such as AUDCAD, AUDUSD, EURCHF, EURGBP, EURUSD, GBPCHF, GBPUSD, NZDUSD, USDCHF, USDJPY.

The initial entry is performed by trend following, not contrarian. In the trading history chart below, you can see that we are entering in the direction of the trend.

■USDJPY　White＝BUY　Red＝SELL

Flex SRV1/SRV2 Setting

This setting is currently closed for trading.
From July 2018 to October 2019, in real accounts, the average monthly rate of return (compound interest) was 7.2% and the maximum drawdown was 7.3%.
With a deposit of $ 1619, the final balance is $ 4761. It is about 3 times.
A drawdown of less than 10% and tripled balance in just over a year is a very good result.

This setting is a typical setting introduced on the official Flex EA website.

Trading Method Analysis (Flex SRV1/SRV2）

The basic strategy of Flex SRV1 / SRV2 is martingale by hedging position.

In the MT4 transaction history chart below, you can see that  holding both SELL and BUY positions together and  martingale.

■EURUSD　15M　White＝BUY　Red＝SELL

Having either  Sell or a Buy position can result in losses when prices continue to move in either direction. Having either a sell or a buy position can result in losses when prices continue to move in either direction.
So having both positions has the effect of avoiding risk.

However, it does not always hold positions in both side(Hedging). Sometimes only one side.

■EURUSD　15M　White＝BUY　Red＝SELL

It seems that it depends on the situation whether to hedge.

The pips distance of the additional entry is set to about 20-30 pips. In other words, each time the price moves 20 to 30 pips backwards from the entry direction, It will open additional positions with an increased lot size.

An example of increasing lot size is shown below.

Each additional entry will increase the lot size by 0.01 lots.

Summary of Flex SRV1/SRV2

It is unique setting of martingale while holding the positions of both sides.
It is a result of the limited period of more than one year, and would like to get the result for a little longer, but in the real account, the drawdown is small and the profit rate is high.

Since it holds positions of both sides, even if the market moves significantly to one side, profits will come out on either position. The advantage is that it can trade while increasing the barance of account.
However, we should be aware of the risk that losses will occur if the market moves in one direction when it does not hold positions of both sides.

Flex EA Default Acct4

Default Acct4 is the result on demo account.
The forward test started in October 2013, and it is the setting that has been the longest forward test among Flex EA.

There have been several large drawdowns since 2019, and the results look bad, but the maximum drawdown is about 36% and the average monthly rate of return is 6% (compound interest). This is good enough.

Starting from $ 3000, the current balance has grown to over $ 300,000. That’s over 100 times.

Trading Method Analysis（Default Acct4）

Default Acct4 is the orthodox type of martingale.

After contrarian entry in th.e medium or long-term time frame, additional entries are repeated each time the price moves in the opposite from the entry direction.
The pips distance to additional entries is fixed at about 20 pips, and entries are repeated at 20 pip intervals.

■EURUSD　4H　White＝BUY　Red＝SELL

The maximum number of positions is 5, and never be more than 5 positions.
Increase rate of additional entries lot size  is as follows:

it will increase the lot size by 1.7 times from the previous position.

In the MT4 trading history chart below, the price continued to decline even after holding up to 5 positions in the downtrend, and finally made a loss cut.
This is the biggest drawdown that happened in August 2019.

■USDJPY　30H　White＝BUY　Red＝SELL

The loss cut was executed at drawdown of about 270 pips from the first entry.

Summary of Default Acct4

As the setting name, “Default” Acct4 is based on the default setting, it performs orthodox martingale trading.

Looking at the profit curve, there are several big drawdowns, but in the long run it is a good result.

Losscut has prevented the bankruptcy of the account.
It should be recognized that drawdowns like the forward test will occasionally occur as it increases lot size and repeats additional entries.

Back Test Result

It is dangerous to rely only on backtest results and operate with a real account. It is just for reference.

Flex EA does not disclose detailed information on backtest results for any setting. The reason is that Flex EA has the concept of conducting trades according to market conditions by utilizing virtual trading and news filter functions.
Their argument is that backtesting does not allow him to measure the performance of the Flex EA.

However, backtesting is not completely useless. How a stock performs in the past is important.
A good EA condition is that it is proven in past market prices and also shows good results in forward tests.

The main strategy of FLEX EA is martingale. Martingale shows good results in the short term, but often results in large losses in the long term.
The backtest may not be made public because it will reduce the reputation of FLEX EA.

 

Summary of FLEX EA

FLEX EA has many configuration options.

In addition to customizing your own trades, you can download and use configuration files for successful forward tests from the members forum, which you can access after purchase.

It is also possible to delete the martingale setting and set it with a single position like a normal trend following or contrarian EA. However, if you do that, the logic is too simple, so you need to recognize it as a Martingale EA.

The basic strategy is the martingale method, so we will operate while allowing a certain amount of fluctuation loss, such as 30% of the balance.
(You can specify the maximum balance drawdown with a parameter. If you are risk-averse and set it to less than 10%, a stop-out will occur frequently. It is presumed that it is better to set it to 30% or more.)

It doesn’t matter whether you have small frequent drawdowns or relatively large drawdowns all at once. What matters is winning in the long run.

Once again, the martingale method must be operated with the risk of relatively large drawdowns occurring at once.

 

Recommended Broker for FLEX EA

Martingale EA like FLEX EA operates with floating loss, so it is advantageous to have as many account balance 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 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 be 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 FLEX EA.

In addition to the double deposit bonus, you can also get an account opening $30 bonus at XM.

* To receive a 100% deposit bonus + $30 account opening bonus, select “Standard Account (1lot = 100,000)”. Bonus cannot be received with Zero account.

Parameter Settings

■General settings

■Lot size control
■ Spread & Ｓlippage
■Take Profit / Stop Loss Control
■ Trailing mode
■Indicator Filter
■Trade Time Setting
■Trading Session
■Recovery Mode
■Hedge Trade
■Special Mode
■EA Information
■News Filter
Flex EA [Official Page]