Forex inControl Reborn（EA）

Forex inControl Reborn（EA）Basic Information

Forex in Control is a martingale EA that operates in two currency pairs, AUDUSD and EURGBP.

The vendor does not recommend running this EA on EURGBP.
No forward test has been conducted, and due to Brexit, the price movement of EURGBP has been rough these days.
Therefore, it should be considered that only one pair of AUDUSD is actually supported.

The previous version did not have good forward test result, so it was unpopular.
However, from 2018, it has been improved as a “Reborn” version, and testing and sales have resumed.

There are two types of purchase patterns, “normal version” and “upgrade version”, and the main difference is that “upgrade version” can use “accelerator mode”.

The “accelerator mode” has the function of increasing the lot size only during specific period set by the parameter. However, this does not bring great benefits. Therefore, if you want to buy this EA, it seems that normal version is enough.
(I will explain it in detail later, but I think that accelerator mode is just function for backtesting measures.)

Profitability / Drawdown

■AUDUSD
Broker：FXOpen（Real account）
Start Date：2018/2/26

（2020/5/3時点）

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

This is the result on real account.
After starting the forward test in February 2018, the average monthly rate of return (compound) is about 8%, and the balance has expanded more than 7 times from $ 1000 of about 2 years.
Very profitable.

The drawdown is about 38%, which is relatively large. However, given the high profitability, this level of drawdown seems still acceptable.

However, Forex inControl Reborn is a martingale EA that adds positions while increasing lot size. Considering that it operates while having floating loss, it is better to operate with smaller lot size.
The forward test started with 0.15 lots with deposit of $ 1000, but this lot setting seems a little risky.

Backtest starts with $ 10,000 for 0.1 lot. Of course, lowering the lot size lowers profitability, but considering the risks, it is better to refer to the backtest lot size.（This ratio is 0.01 lot per $ 1000）
Vendor’s recommendation is 0.01 lots for $ 1286.

Trading Method Analysis-Overview

As already explained, the basic strategy of Forex in Control is martingale.

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.

As already explained, the basic strategy of Forex in Control is martingale.

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 trading logic of Forex in Control is explained in detail 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-Additional entry (2nd position) is made when the price moves 60pips in the opposite direction from the first entry.

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

 

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 30pips from the high low price, increase the lot size according to the distance from the previous entry, and close all positions if profit of 65pips is made at the last position.

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

■Normal version (without “accelerator” function)

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.

■Update version (with “Accelerator” function)

This is the result of applying the accelerator mode, and although it is a short period of 3 years, the maximum drawdown is within 30%, and the average monthly profit rate (compound interest) is 10%, which is an amazing number.

Looking at this result, you may want to try using the “accelerator mode”, but the reality of the “accelerator mode” is to increase the lot size from normal to 10 times for a specific period.

Specifically, depending on the parameter settings, the lot size is increased 10 times only on the 11th to 13th and 25th to 30th of each month.
It just happened that the market condition was suitable for Forex in Control trading only during this period. Naturally, the profitability is very high, but it does not always work in the future market.

Therefore, if you want to use it, there is no particular need to purchase the “updated version” that implements the “accelerator mode”, and it seems that the cheap normal version is sufficient.

Related EAs

The following EAs are sold by the same vender.

・ FXSTABILIZER
・ FXCHARGER

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

Summary of Forex inControl

Unique features such as “additional entry waiting for retracement” and “lot size adjustment according to pips distance from previous position” are implemented, and these feel reasonable.

You can consider using it as good results have been obtained in the forward test.

However, the forward test lot size is a bit too risky.
Vendors take risks and try to emphasize the impact of rate of return.

Therefore, adjust lot size carefully. (The vendor’s recommendation is 0.01 lot for $ 1286, and “Drawdown control” setting = 35%.)

If the lot size is reduced, the profit rate will naturally decrease, but the probability of loss cuts can be avoided, leading to stable operation.

Recommended Broker for Forex inControl Reborn

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

Martingale EA like Forex inControl Reborn 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 Reborn.

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.