MyForexPath EA is an EA that combines grid trading and martingale.
Although it is a high-risk EA, it may have a function to determine the trend market and range market, and a risk avoidance function.
| Price | $285 |
| License | 1 account per license |
| Currency pair | AUDUSD, EURUSD,USDCAD |
| Terminal | MT4,MT5 |
| Money back guarantee | Money back guarantee available. However, this is limited to cases where a drawdown of 40% or more occurs despite operating according to the vendor’s recommended settings. |
Live performance of MyForexPath EA (forward test results)
Since it is a martingale EA, it draws a very beautiful profit curve.
However, please note that since it is an EA that holds a large number of positions at the same time, running it on multiple currency pairs at the same time involves a large risk.
MyForexPath EA trading strategy
Grid & Martingale Trade
The basic strategy of MyForexPath EA is grid & martingale.
Articles to refer to：Martingale EA Risks and Benefits | Is it profitable?
In the MT4 trading history chart below, you can see that this EA opens additional positions when the price moves against the initial position.
■AUDUSD 30 minutes Chart White=Buy entry Red=Sell entry
Direction of entry
MyForexPath EA holds positions in the direction of medium- to long-term trends.
In the MT4 trading profit chart below, you can see that this EA holds a sell position in a downtrend and a buy position in an uptrend.
■AUDUSD 4hour Chart White=Buy entry Red=Sell entry
Trading with hedge positions
This EA basically enters in the direction of the trend.
On the other hand, in range markets where there is no clear trend, grid and martingale trades are executed in both the sell and buy directions at the same time.
The MT4 trading history chart below shows that both sell and buy positions are held at the same time.
■AUDUSD 1hour Chart White=Buy entry Red=Sell entry
Grid & Martingale EAs generally do not hold both buy and sell positions at the same time.
For example, it will not hold a sell position until it has closed all of its buy positions.
That means missing out on the opportunity to profit from riding a downtrend.
On the other hand, MyForexPath EA holds buy and sell positions at the same time, so it is possible to profit from trending markets.
This is the strength of MyForexPath EA.
However, this also has disadvantages.
It means holding a position near the peak of the trend, that is, near the turning point of the price.
From the MT4 trading history chart below, you can see that a buy position was opened near the top of the uptrend.
■AUDUSD 4hour Chart White=Buy entry Red=Sell entry
If the EA holds a buy position at the top of an uptrend and the price goes down, the equity loss will be large. If the downtrend continues, that account balance will be depleted sooner.
Risk avoidance function
As already explained, holding a position near the peak of the trend is the biggest risk for MyForexPath EA.
However, MyForexPath EA may have the ability to avoid this risk.
In the MT4 trading history chart below, you can see that entries are avoided near the top of the uptrend.
■AUDUSD 4hour Chart White=Buy entry Red=Sell entry
If the function to avoid entry at the top of the trend continues to be effective, this EA has an excellent risk avoidance function.
Multiple grid & martingale trades in the same direction
MyForexPath EA executes grid & martingale trades with multiple logics at the same time.
The MT4 trading history chart shows two buy positions opened at the same time and closed at different times.
■AUDUSD 1hour Chart White=Buy entry Red=Sell entry
Profit can quickly accumulate by trading with multiple logics. However, this method involves high risk as the number of positions becomes very large.
If a major trend occurs, these positions can be left behind and wipe out the account’s balance in one fell swoop.
Lot size increase rate
MyForexPath EA increases the lot size for additional entries by approximately 1.5 times.
In other words, the martingale method is used.
Below is an example of a trade history with increasing lot size.
| No | Open Date | Close Date | Symbol | Action | Units/Lots | Open Price | Close Price |
| 1 | 01/08/2024 07:00 | 02/22/2024 09:15 | AUDUSD | Buy | 0.1 | 0.6699 | 0.65801 |
| 2 | 01/16/2024 10:38 | 02/22/2024 09:15 | AUDUSD | Buy | 0.15 | 0.66103 | 0.65801 |
| 3 | 02/02/2024 15:35 | 02/22/2024 09:15 | AUDUSD | Buy | 0.22 | 0.65518 | 0.65801 |
| 4 | 02/13/2024 16:00 | 02/22/2024 09:15 | AUDUSD | Buy | 0.33 | 0.64644 | 0.65801 |
MyForexPath EA backtest results
■AUDUSD
| Test start | 2016/1/4～ |
| Test end | 2023/08/01 |
| Operation period | 90months |
| Initial deposit | 10,000 |
| Operational lot size | Adjusted by balance |
| Final balance | 11,437,641 |
| Total net profit | 11,427,641 |
| Rate of return (overall) | 114376.4% |
| Monthly rate of return (compound interest) | 8.1% |
| Monthly rate of return (simple interest) | – |
| Relative drawdown | 89.6% |
| Maximum drawdown (amount) | 3,485,419 |
| Profit factor | 2.80 |
| Winning rate | 75.5% |
| Total trades | 1116 |
■ EURUSD
| Test start | 2016/1/4～ |
| Test end | 2023/08/01 |
| Operation period | 90months |
| Initial deposit | 10,000 |
| Operational lot size | Adjusted by balance |
| Final balance | 892,241 |
| Total net profit | 882,241 |
| Rate of return (overall) | 8922.4% |
| Monthly rate of return (compound interest) | 5.1% |
| Monthly rate of return (simple interest) | – |
| Relative drawdown | 92.5% |
| Maximum drawdown (amount) | 3,865,654 |
| Profit factor | 3.16 |
| Winning rate | 75.7% |
| Total trades | 1593 |
■USDCAD
| Test start | 2016/1/4～ |
| Test end | 2023/08/01 |
| Operation period | 90months |
| Initial deposit | 10,000 |
| Operational lot size | Adjusted by balance |
| Final balance | 17,083,027 |
| Total net profit | 17,073,027 |
| Rate of return (overall) | 170830.3% |
| Monthly rate of return (compound interest) | 8.6% |
| Monthly rate of return (simple interest) | – |
| Relative drawdown | 91.4% |
| Maximum drawdown (amount) | 4,099,465 |
| Profit factor | 3.22 |
| Winning rate | 72.7% |
| Total trades | 1936 |
Vendor of MyForexPath EA
MyForexPath EA is sold by the same vendor as his FXSTABILIZER, Forex Truck, etc.
The basic strategy of the EA they sell is a combination of grid trading and martingale.
MyForexPath EA has unique features among the EAs they sell and trades using complex logic. It may be different from the general martingale EA.
Also, the backtesting period is relatively long. (Relatively long term does not mean that it is sufficient)
Conclusion of MyForexPath EA
It is a high risk EA as the main strategy is grid & martingale.
On the other hand, this EA has the following unique points.
- The EA may be determining the trend market and range market.
In trending markets, positions are opened only in the direction of the trend.
Hold a hedge position in a range market. In other words, hold a sell position and a buy position at the same time. This has the effect of accumulating profits early. - It is possible to avoid entering near the peak of the trend. This means that this EA avoids risks.
If these features continue to function effectively in the future, this EA could be a great EA.
It will be interesting to see what results come from the upcoming deal.
