Main characteristics:

Currency: EURUSD
Timeframe: chosen by EA automatically (you can setup whatever)
Open position at: 07:00 CET
Max. age of openned position: 75600sec = 21 hour
Amount of hours to check price difference to see a "trend": 30 hour

Graph for 2008 (click image to enlarge)

Report for 2008 (click image to enlarge)

Graph for 2003 - 2008 (click image to enlarge)

Report for 2003 - 2008 (click image to enlarge)

You can change/optimise these variable in input settings of the EA to see different results:

FIXLOT if 0, uses maximumrisk variable to count lots, else uses only this while trading
MINLOTS minimum lot
MAXLOTS maximum lot
MAXIMUMRISK maximum risk, if FIXLOT = 0 ... maybe better to use FIXLOT = 0 and MAXIMUMRISK = 0.05 (0.02)
SLIPPAGE max slippage alowed

TRADINGHOUR time when position should be oppened
HOURSTOCHECKTREND amount of hours to check price difference to see a "trend"
ORDERMAXAGE max age of position - closes older positions

Martingale element used in EA - after loss positions, next order lot is multiplied
FIRSTMULTIPLICATOR multiply lots when position -1 was loss
SECONDMULTIPLICATOR multiply lots when position -2 was loss
THIRDMULTIPLICATOR multiply lots when position -3 was loss
FOURTHMULTIPLICATOR multiply lots when position -4 was loss
FIFTHMULTIPLICATOR multiply lots when position -5 was loss
STOPLOSS
TRAILINGSTOP
TAKEPROFIT

This EA does only one trade a day at 7 a.m. CET if you are at different timezone, please change your TRADINGHOUR variable to fit 7 a.m CET.

Although it is an EA and basically meant to do the job itself, I would rather say that sometimes when we make loses i think the loses were our fault. When we watch the market and already had the intuition to rather close the trades because it was obvious that is was the wrong direction...but we don´t follow our intuitions...too bad :-(

And since an EA is in the end just a tool, it also depends on you as a trader to how to have success with it...isn't it :-)

There are many free EAs out there, but unfortunately you get disastrous results using them... ;-)

Here  we have created a simple FREE EA called the Daily10pips which is guaranteed to make you profits in long run.

Below are some reasons why we trade forex with Automated EA System:

• Remove Emotions of Fear, Greed, and Worry
• Reduce risk and improve overall system performance
• Execute your system the way it was designed
• Never miss a trade again
• Avoid embarrassing and costly trades due to fatigue
• Finally get some sleep and protect your health
• Faster and more accurate trade execution
• Spend more time with your family
• No more waiting through non-trending markets
• Trade multiple strategies and markets
• Takes advantage of more trading opportunities
• Save time
• Trade more accurately than a team of traders
• Easy to use