Forex inControl 3（EA）Basic Information

Forex in Control is a martingale EA that operates on four currency pairs: AUDUSD, EURGBP, USDCAD, and EURJPY.

There is a period when the vendor does not recommend running this EA with her EURGBP.
Forward tests for EURGBP and EURJPY are not published. For these two pairs, only the back test is good and the forward test is probably not good.

Profitability / Drawdown

■AUDUSD
Start Date：2018/2/26

Forex in Control has a very beautiful profit curve. That’s impressive.

Results from real account.
Since they started forward testing in February 2018, the average monthly return (compound interest) has been approximately 4%, and the balance has increased nearly 20 times from $1,000 in about 6 years.
It has a very high rate of return.

Drawdown is around 30%. It is acceptable.

However, Forex inControl is a martingale EA that adds positions while increasing the lot size. Considering that you will be operating with floating losses, the smaller the lot size, the better.
The forward test started with 0.15 lots with a deposit of $1000, but this lot setting is a little risky.

Traditional backtesting starts from 0.1 lot at $10,000. Of course, lowering the lot size will reduce profitability, but considering the risk, it is better to refer to the backtest lot size. (This ratio is 0.01 lots per $1000)
Vendor recommendation is $1286 for 0.01 lot.

Trading Method Analysis-Overview

As already explained, the basic strategy of Forex in Control is martingale.(Reference article: Martingale EA risks and benefits)

At first it is contrarian entry.
If the price moves against the direction of the position, it will make additional entrys with increased lot size.

In the MT4 trade history chart below, you can see that this EA is making a contrarian entry first and making additional entries if the price moves unfavorably.

■AUDUSD　4H　White＝BUY　Red＝SELL

The chart above is 4H time frame. The entry-to-exit pips distance is wide and holds positions for several days. You can see that it is not a scalping or day trading, but a swing trading EA that holds a position for a relatively long period of time.

Trading Method Analysis – Trade Logic Details

The detailed Forex in Control trading logic is as follows.

①-Enter for the first time in the direction opposite to the current price movement. If get floating profit of 65 pips atthe first entry, take profit.

② – When the price moves 60 pips in the opposite direction from the first entry, make an additional entry (second position).

The second entry will have the same lot size as the first entry.
If the price returns to 65 pips from the second entry, close all positions.

③-2 If the price moves in the opposite direction from the 2nd entry, open the 3rd position with the increased lot size.
The third entry is when the price is retraced by 30 pips from recent highs or lows.

(Normal Martingale EA makes additional entries at fixed pips intervals from the previous position, while Forex in Control makes additional entries after waiting for retracements from highs and lows).

Ordinary martingale EA increases the lot size from the previous entry by a fixed magnification (eg 2x, 3x, etc.). On the other hand, Forex in Control calculates the lot size according to the distance from the previous entry price.

If the price is only about 20 pips away from the last entry, the lot size will not increase much. On the other hand, if the price is about 100 pips away from the previous entry, it will make an additional entry with about 6 times the lot size of previous entry.
It means that the lot size is changed according to the market condition.
If the distance from the previous entry is small, the lot size may decrease.

Take profit when the third position makes profit of 65 pips.

In the trade history chart below, you can see that after the third position, it is not a fixed pips distance from the previous entry.
It is not a fixed pips distance because it waits for retracement before additional entry.

④ The 4th and subsequent positions are the same as the 3rd position.

To explain again, additional entries wait for a retracement of about 30 pips from the high/low.
Then increase the lot size according to the distance from the previous entry, and close all positions when the last position makes a profit of 65 pips.

Trading Method Analysis – Loss Cut

Since it is a martingale EA, there is no stop loss for individual positions.

The strategy of this EA is to recover floating loss by additional entry with increased lot size. Therefore, relatively large floating loss is held.

If the floating loss expands too much, in the worst case the account will be destroyed.
On the other hand, Forex in Control has a balance protection function, and it is possible to specify the maximum drawdown value as a percentage and cut the loss.

Therefore, it is designed to prevent unexpected loss.

In the forward test, the maximum number of positions is 5 at the moment, and there is no record of balance protection.

Trading Method Analysis – Summary

The features of Forex in Control are “entry after waiting for retracement” and “lot size adjustment according to price difference from previous entry”.

The Martingale EA is characterized by being vulnerable to sudden and large price movements.

Therefore, this EA waits for a certain amount of retracement before entering, and avoids entry in a rapid trend, enters at high probability point.

Also, with lot size adjustment by pips distance from the previous entry, if the price is not far from the previous entry, the turning point of the trend is near and there is a high probability that profit can be made even for small lots.

Even if the market moves in reverse, the smaller the lot size, the smaller the risk.。

Forex in Control’s trade logic feels more reasonable than typical Martingale EAs, which entry with fixed pips intervals and fixed lots regardless of market conditions.

Of course, EA should not be judged on the basis that it feels reasonable or that it has a favorable impression.

You should make a total judgment including past forward tests and back tests,Actually, this EA is showing good results at this point.
(There are expectations, but of course no one knows the future results)

Forward Test Environment

Forex in Control’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.

Forex in Control 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 real account is 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

■AUDUSD_Normal version

This is the normal version without accelerator mode applied.
With over 10 years of backtesting, maximum drawdown within 30% and average monthly rate of return (compound interest) of 1.9% are not bad figures.

■AUDUSD_Aggressive

AUDUSD aggressive mode backtest results look very impressive.

However, you should note that the relative drawdown stands at 80.1%.
A relative drawdown of 80% in a martingale or grid trading strategy is a very dangerous situation.

In aggressive mode, as the balance increases, the lot size will also increase significantly.
The test account is in a very dangerous state, on the verge of bankruptcy.

Below are the final results of backtesting for other currency pairs.

■Aggressive version

■Normal version
Clearly, the backtest results for AUDUSD are outstanding.
This is because the AUDUSD lot size is set very large.

Setting the balance between balance and lot size is very important for Martingale EA.
If you apply the AUDUSD lot size setting to other currency pairs and backtest, the balance of the test account will be swept at once.
It’s natural for vendors to make backtest results look good, but users must be aware of this trick.

Related EAs

The same vendor sells the following EAs:.

・ FXSTABILIZER
・ FXCHARGER
・FOREX TRUCK
・TRADERS MOON

Both are well-known martingale EAs, and FXSTABILIZER has been performing well over the long term.

Although there are some uncertainties regarding the developer, we should judge the good or bad by looking at the trade logic and the results of forward test.

Parameter Settings

*Below are the parameter settings of the previous version “Forex incontrol reborn”. There may be changes.

Summary of Forex inControl

This EA has unique features such as “additional entry pending retracement” and “lot size adjustment according to pips distance from previous position”.

The forward test results are also good.

However, we should be aware of the dangers of this EA.

This EA uses the Martingale method, and there is a risk that your account balance will drop to 0 at once.

In fact, the forward test account of the first version “Forex incontrol” went bankrupt.

Then, forward testing and sales started again as “Forex incontorol reborn”, and now it has become “Forex incontorol3”.

In “Forex incontrol reborn”, there was a setting called “accelerator mode”.
“Accelerator mode” is a setting that increases the lot size by 10 times only from the 11th to the 13th and from the 25th to the 30th of every month.

This is clearly inappropriate over-optimization. It just so happened that this period was a suitable market condition for testing this EA.

You need to realize that this EA has such a history.

When using this EA, please adjust the lot size carefully. (Vendor’s recommendation is 0.01 lot at $1286, “Drawdown Control” setting = 35%.)

Naturally, reducing the lot size will lower the rate of return, but it will avoid the possibility of loss cuts and lead to stable operations.

Recommended Broker for Forex inControl

Some brokers offer 100% deposit bonuses that double your balance.

Martingale EA like Forex inControl 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 Forex inControl.

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.