Mighty Makers EA: A Profitable and Reliable Forex Trading Robot
Are you searching for a profitable and reliable trading robot for your MetaTrader 4 (MT4) platform? Look no further, as Mighty Makers EA might be just what you need. This expert advisor (EA) is based on Murray levels and incorporates high-speed neural network analysis. In this article, we’ll explore the features of Mighty Makers EA and provide you with insights into its functionality.
Key Features:
Built-in News Filter: Mighty Makers EA comes equipped with a news filter, which helps you avoid trading during volatile market conditions caused by important economic announcements. This feature adds an extra layer of risk management to your trading strategy.
Safe Money Management: The EA is designed with a focus on preserving your capital. It avoids dangerous money management methods such as grid trading, martingale, or arbitrage. This approach ensures a more secure trading experience.
Drawdown Limitation: Mighty Makers EA has the ability to limit the maximum drawdown, reducing the risk of substantial losses. This is essential for traders looking to protect their investment.
Diverse Types of Levels: The EA uses various types of price levels to make trading decisions. These include horizontal levels (support and resistance), vertical levels (time-based and trading session boundaries), and dynamic levels (diagonal levels like trend lines and channels). The combination of these levels provides a comprehensive analysis of market dynamics.
Conflict Circles: The EA takes into account potential conflicts or contradictions between different types of levels, ensuring more accurate trade signals. This is particularly useful in preventing misinterpretations of price movements.
Murray System and Neural Network Integration:
The foundation of Mighty Makers EA lies in the Murray system, which incorporates various price levels for trade analysis. In addition to this, the author claims to have integrated a neural network into the EA. This neural network is said to process extensive historical and current data to enhance the accuracy of trade signals. While the presence of a neural network sounds promising, some traders may have doubts about its functionality and effectiveness.
Trading Strategy:
Mighty Makers EA primarily trades on breakouts and rebounds from levels generated by the Murray system. This approach is believed to offer superior accuracy compared to trading solely based on one type of level, whether it’s horizontal, vertical, or diagonal.
Despite a relatively large StopLoss, which is 10 times higher than the TakeProfit, the EA boasts a low drawdown that rarely exceeds 5%. This is an impressive result, except in cases when specific settings like FixLot and Stage=5 are applied.
Input Parameters:
The EA provides users with several input parameters to customize their trading experience, including capital management options (STAGE parameter), the choice between fixed and automatic lot sizing, StopLoss and TakeProfit control, and drawdown limitation. Additionally, there’s an option to set a maximum spread for trade entry to manage trading under varying market conditions.
Conclusion:
Mighty Makers EA presents a promising technical description and backtest results. However, the significant discrepancy between the large StopLoss (400 pips) and the relatively small TakeProfit raises questions about the EA’s overall effectiveness. Moreover, the absence of long-term monitoring of a real trading account managed by the EA is a cause for concern.
To ensure the reliability of Mighty Makers EA, we recommend conducting a thorough demo test for at least a couple of months before considering it for real trading. The inclusion of a news filter is a helpful feature, but its adequacy in real trading scenarios should be assessed exclusively in demo mode.
In the ever-evolving world of forex trading, it’s essential to exercise caution and due diligence when selecting trading tools, and Mighty Makers EA is no exception.
