- Martingale EA
- Always hold positions
- Target currency pair is USDCAD only
Basic Information of Forex Truck EA
| Price | $277 |
| Currency pair | USDCAD |
| Trading style | Martingale |
| Minimum leverage | 1:100 |
| Minimum deposit | $290 |
| 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 35% or more occurs. |
The feature of this EA is that it operates in one currency pair of USDCAD and holds both buy and sell positions at the same time.
Evaluation of Profitability and Drawdown
Broker: FXOpen (real account)
Start of operation：2020/1/16
(As of October 19, 2020)
The forward test started in January 2020, and although it hasn’t been a long time, the results have been good so far.
A large equity drawdown occurred once in December 2023, but the balance protection function reduced the drawdown to less than 20%.
However, since it is a martingale EA, you should be aware that a very large drawdown can occur in an instant.
Analysis of trading methods
Entry (open position)
Forex Truck EA is a martingale EA that moves while holding a position almost all the time.
(Reference article: Martingale EA risks and benefits)
In the MT4 trading history chart below, you can see that it is always holding a position.
■USDCAD 4H White＝BUY Red＝SELL
It will enter in the opposite direction of the trend.
Hold positions in both directions (hedge position)
A normal martingale EA holds either a sell or buy position, but a Forex Truck EA may hold both positions at the same time. (Hedge position)
In the MT4 trading history chart below, you can see how it has both buy and sell positions.
■USDCAD 1H White＝BUY Red＝SELL
Such a hedge position has the advantage of being able to hedge the risk because even if one of the positions loses, it can be covered by either one.
However, it’s not just about the benefits. There are also disadvantages.
If it has a hedge position, one of the positions will always lose and the profit will be small. Also, after closing one position, the risk of the other position remains.
Additional entry and lot size
Forex Truck EA is a martingale EA, so it will open additional positions each time the price moves in the opposite direction of the position.
In the MT4 transaction history chart below, you can see how additional positions are open.
■USDCAD 1H White＝BUY Red＝SELL
The pips width from the previous entry to the additional entry is 40 pips to 60 pips, which is relatively wide.
The table below shows examples of lot size increases.
It depends on the position, but it will be entered in a lot size about 2 to 4 times larger than the previous entry.
By increasing the lot size and making entries, it can be profitable in total position even with a small price reversal.
On the other hand, the larger the lot size, the higher the risk. If prices continue to move in one direction, large losses can occur.
Operation stop by manual judgment
Forex Truck EA is a type of EA that almost always holds positions, but trading is stopped during the period from 2020/3/17 to 2020/3/31.
■USDCAD 4H White＝BUY Red＝SELL
In the MT4 trading history chart above, you can see that during the period when trading was suspended, the market price rose sharply and then fell sharply.
Martingale type EA is vulnerable to such a rapidly moving market in one direction and can cause large drawdowns.
Perhaps the developer perceived the danger and manually stopped the EA until the market settled down.
If this EA was working as it was, a bigger drawdown would have occurred.
Forward test environment
All Forex Truck EA forward test environments are real account results.
The trading environment is different between the demo account and the real account. Even if the price movement itself looks the same, the environment related to contracts such as slippage is different, so the results obtained even if the same EA is moved simultaneously with the demo account and the real account will be different.
Forex Truck EA has a large pips width, so it is expected that the results will not change significantly between the demo account and the real account.
In the first place, the results of the real account are published, so it will be profitable even with the real account.
Backtest results
It is dangerous to deceive only the result of the back test and operate it with a real account, and it should be regarded as reference information only.
There are two types of Forex Truck EA backtests, “Normal style” and “Aggressive style”.
■Normal style
| Start Date | 2014-01-07 | 2020-08-28 |
| 79months | ||
| Initial Balance | 5,000 | |
| Lot Size | Adjust according to balance | |
| Final Balance | 80,759 | |
| Total profit | 75,759 | |
| Total rate of return | 1615.2% | |
| Monthly rate of return (compound) | 3.6% | |
| Relative max drawdown | 28.9% | |
| Profit factor | 175.0% | |
| Profit trades (% of total) | 60.9% | |
| Total trades | 1,609 | |
| Start Date | 2014-01-07 | 2020-08-28 |
| 79months | ||
| Initial Balance | 1,000 | |
| Lot Size | Adjust according to balance | |
| Final Balance | 11,777,248 | |
| Total profit | 11,776,248 | |
| Total rate of return | 1177724.8% | |
| Monthly rate of return (compound) | 12.6% | |
| Relative max drawdown | 87.8% | |
| Profit factor | 186.0% | |
| Profit trades (% of total) | 61.1% | |
| Total trades | 1,617 | |
The only difference between “Normal style” and “Aggressive style” is the lot size for the balance, and “Aggressive style” takes risks and is operated in a large lot size.
Regarding entry points and transaction frequency, there is almost no difference between “Normal style” and “Aggressive style”.
Summary of Forex Truck EA
In the forward test, it’s doing well so far.
Martingale is the basic strategy of this system, and its main features are to run on USDCAD and to open both positions.
As long as the trading method is martingale, there is a possibility that a big drawdown will occur in the future.
If you recognize that it is high risk and high return, you may consider using it.
