FXCHARGER（EA）- Review＆Examination
- Martingale EA
- Proven forward test for over 4 years
- Simple logic to buy and sell at a specific time
FXCHARGER（EA）Basic Information
| EURUSD | MAX | |
| Price | $385 | $495 |
| Currency Pair | EURUSD | EURUSD, AUDUSD, EURGBP |
| Time Frame | H1 | |
| Trading Method | Martingale | |
| 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 40% or more occurs. | |
FXCHARGER does not anticipate market movements. Utilizing the characteristics of the market that repeats ups and downs, while always holding positions, makes profit by following the market.
It can be said that the EA has adopted a unique trade logic.
Forward testing has been continued for a relatively long time since March 2016
There are 2 types of purchase patterns, EURUSD only and MAX version applicable to 3 currency pairs.
Profitability / Drawdown
■EURUSD
Broker：FXOpen（Real account）
Start Date：2016-3-9
| (Information as of 2020-05-09) | Date | Balance |
| Start Date | 2016-03-09 | Initial：＄2,000 |
| Current Balance | 2020-04-27 | Current：＄35,764 |
| Lot Size | Adjust according to balance | |
| Test duration | 49months | |
| Total profit | +＄33,764 | |
| Total rate of return | +1688.2% | |
| Monthly rate of return (compound) | +6.1% | |
| Monthly rate of return (single) | Adjust according to balance | |
| Maximum drawdown | 57.3% | |
| Profit trades (% of total) | 60.0% | |
| Total transaction | 551 | |
Broker：FXOpen（Real account）
Start Date：2018-5-21～2019-7-29
| (Information as of 2020-05-09) | Date | Balance |
| Start Date | 2018-05-21 | Initial：＄1,500 |
| Current Balance | 2019-07-29 | Current：＄10,213 |
| Lot Size | Adjust according to balance | |
| Test duration | 14months | |
| Total profit | +＄8,713 | |
| Total rate of return | +580.8% | |
| Monthly rate of return (compound) | +14.7% | |
| Monthly rate of return (single) | Adjust according to balance | |
| Maximum drawdown | 54.8% | |
| Profit trades (% of total) | 60.0% | |
| Total transaction | 96 | |
FXCHARGER’s forward test is conducted on two currency pairs, EURUSD and AUDUSD.
Although EURUSD has several drawdowns, it is good that profitable for about four years from March 2016.
The profit rate is also high, as it is almost 15 times higher than the initial deposit.
On the other hand, the maximum drawdown is close to 60%. This is relatively high.
Since FXCHARGER has a balance protection function, the maximum drawdown value can be specified in percentage by the parameter of “MAX Risk”.
Even in the forward test, it is set so that the maximum drawdown is 30-40%. The drawdown of nearly 60% occurred because the lot size was large compared to the balance at the beginning of the forward test. This is because of the promotion of EA, vendors are taking risks to increase profitability.
The profit rate is lower than the forward test, but it is safe for general users to set a smaller lot sizes.
Also, as you can see from the profit curve, EURUSD has several drawdowns, which is probably due to the balance protection function. It should be noted that after the drawdown occurred, the loss was recovered within a short period of time.
This is because the vendor increased the lot size by 3.5 to 4 times after the balance protection, which enables recovery in a short period of time.
While the lot size is increasing, the profit rate also increases, but of course the risk is high.
If the lot size had not been increased, recovery of losses would have taken a little longer.
Two years have passed since the forward test started in May 2018 for the AUDUSD currency pair. There is no record of drawdown by the balance protection function, and it draws a beautiful profit curve rising to the right.
Trading Method Analysis
EA is generally programmed to combine multiple indicators and anticipate future price movements.
On the other hand, FXCHARGER uses the characteristic that the market price repeats up and down while always holding positions.
First of all, looking at the transaction history chart makes it easy to imagine the trading method
↓Overall view（EURUSD 1H White＝BUY Red＝SELL）
↓拡大版（EURUSD 1時間足 白＝BUY 赤＝SELL）
Specifically, it repeats Buy and Sell according to the following flow.
① Open both Buy and Sell positions at 20:50 in wintertime (GMT + 2) and 21:50 in summertime (GMT + 3). In other words, start from the hedge position.
② When the market moves 100pip from the Hedge entry, close the profitable position. On the other hand, it will keep the position that holds floating loss.
③ At 20:50 (or 21:50) server time on the next day, make an additional entry with a lot size of 4 times toward the position with a floating loss.
If the market price reverses and a certain amount of profit are generated in total position, all positions will be closed.
On the other hand, if there is still floating loss at 20:50 (or 21:50) on the next day, an additional entry will be made at 4 times the position of the previous entry.
④ If Floating profit appears in the account, all positions will be closed at that time. On the other hand, if your account has floating losses, repeat the 4x lot size additional entry at 20:50 (or 21:50).
It will never have more than 4 positions.
Maximum additional entry example)
| Entry date and time | Lot Size | Buy / Sell | Closed date and time |
| 2016.03.18 20:50 | 0.1 lot | Buy | 2016.03.28 15:54 |
| 2016.03.23 20:50 | 0.4 lot | Buy | 2016.03.28 15:54 |
| 2016.03.24 20:50 | 1.6 lot | Buy | 2016.03.28 15:54 |
| 2016.03.25 20:50 | 6.4 lot | Buy | 2016.03.28 15:54 |
⑤ If there is no holding position at 20:50 (or 21:50), open both buy and sell positions. After that, it is the same as the above ② to ④ and repeat this.
If you look at the transaction history chart again, it is easy to imagine the above trading procedure of FX CHARGER.
The increased rate of lot size is four times that of the previous entry and it is a little risky compared to other Martingale EA, but there is a merit that even small price returns can make a profit.
All positions will be closed when the drawdown specified by the “MAX Risk” parameter occurs. This is a function to protect the account balance and is effectively stop loss.
Forward Test Environment
FXCHARGER’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.
FXCHARGER 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 the real account are 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
EURUSD backtest results
| Start Date | 2013-01-01 | 2016-08-15 |
| 43months | ||
| Initial Balance | 10,000 | |
| Lot Size | Adjust according to balance | |
| Final Balance | 141,071 | |
| Total profit | 131,071 | |
| Total rate of return | 1410.7% | |
| Monthly rate of return (compound) | 6.3% | |
| Monthly rate of return (single) | Adjust according to balance | |
| Relative max drawdown | 37.4% | |
| Maximal drawdown | – | |
| Profit factor | 2.10 | |
| Profit trades (% of total) | 62.3% | |
| Total trades | 713 | |
The forward test has a fixed lot size for the first entry (except immediately after activation of the balance protection function). On the other hand, in the backtest, the lot size of the first entry is increasing according to the balance. The backtest and the forward test cannot be compared because the lot sizes are different.
Related EA
FXSTABILIZER is an EA sold by the same company.
FXSTABILIZER is a well-known martingale-type EA and has been a successful EA for a long time.
The developers of FXCHARGER claim that they are not the same person but only belong to the same EA production company.
There are some uncertainties regarding the developer, but you should judge the goodness or badness of the EA by looking at the trade logic of the EA itself and the results of the forward test.
Parameter Settings
| Auto_LotSize | When “enable” is selected, the lot size is automatically set according to the balance based on the following “Max_Risk” parameter. When “Disable” is selected, the entry will be made for the first time with the lot size entered in “Manual_Lot Size”. |
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| Max_Risk | Balance protection function. Specify the allowable drawdown value as a percentage of the balance. The recommended setting of the vendor is 35 (%) when operating with one currency pair. 25 (%) for 2 currency pairs at the same time. |
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| Manual_LotSize | When “Disable” is selected in “Auto_Lot Size”, the lot size entered here is used for the first entry. | ||
| Mini_Lot | Select “enable” if you want to operate in a micro account (1 lot is 1,000 currency) instead of a standard account (1 lot is 100,000 currency). Normally, you can leave it as “disable”. |
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| Auto_GMT | MT4 server time is automatically acquired. Normally leave the default “enable”. | ||
| Manual_GMT | If the above “Auto_GMT” is not working properly for some reason, manually enter the difference from GMT + -0 in this item. | ||
| Magic_Number | Set the magic number. Since it is like a serial number that is automatically assigned, there is no need to change the default settings. | ||
| Slippage | Specify the allowed slippage value. No need to change from default settings | ||
Summary of FXCHARGER
It is a unique martingale EA that always has positions and makes additional entries at specific times. This EA does not predict the direction of the market using indicators and price movements. Trade using only the characteristic of the market price goes up and down.
It’s good that it has survived more than four years of forward testing and is profitable.
However, the maximum drawdown (35% recommended) specified by the balance protection function may occur.
Also, please be aware that in the forward test, the lot size is increased by 3.5 times after the drawdown to recover the loss.
Similar to the forward test, there is also an option to trade by increasing the lot size after drawdown. But the risk goes up.
If you have not increased the lot size, it will take a little longer to recover the loss.
If you are aware of such characteristics and risks of FXCHARGER in advance, and if you expect a track record of making profits for a long time, this EA is useful.
Notes on Use
Since it is an EA that moves while allowing relatively large floating loss, the following recommended settings of leverage and balance must be observed.
Leverage
1: 200 or more leverage required
Minimum Deposit
The minimum required balance is $ 700 for the minimum 0.01 lot operation.
(Ratio of $ 1400 for 0.02 lot and $ 700 for 0.1 lot)
In the forward test, starting from 0.1 lot with an initial balance of $ 2000. That is the ratio of $ 200 for 0.01 lot.
The lot size of the forward test is 3.5 times larger than the recommended setting, so if you operate according to the recommended setting the profit rate will be lower than the forward test, but the drawdown will also be smaller.
Profitability may be low, but considering the risks, it is better to operate with the recommended lot size.
Recommended Broker for FXCHARGER
Some brokers offer 100% deposit bonuses that double your balance.
Martingale EA like FXCHARGER operates with floating loss, so it is advantageous to have as many account balances 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 a 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 being 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 FXCHARGER.
In addition to the double deposit bonus, you can also get an account opening a $30 bonus at XM.
* To receive a 100% deposit bonus + $30 account opening bonus, select “Standard Account (1lot = 100,000)”. A bonus cannot be received with a Zero account.
