SteadyWinner
WE HAVE MOVED TO CLICKBANK
Dear Customers and Affiliates,
Since we have waited for one month and did not see any progress from
Plimus, we decided to move to ClickBank. All customers purchasing
through Plimus, PayPal or Click2Sell will enjoy 60 days money back
guarantee and free upgrade to future versions.
All affiliates need to register again at ClickBank.
Thank you for you understanding and support.
Warm Regards
Ming and Henry
STEADYWINNER EA IS A TRADING ROBOT
used by the developer himself on his live account
Hi, welcome to the home of the EA SteadyWinner, a robot for making
steady profit in forex trading.
If you do not have a copy of this EA, you can download Version
5.0-for small accounts from . Use Winzip or 7-zip to unzip the
compressed files and you will see
SteadyWinnerV5.0-forSmallAccounts.ex4 and a user manual.
VERSION 5.0 (FOR SMALL ACCOUNTS) IS NOW FREE FOR EVERYBODY.
The ex.4 file should be put in the folder called "expert" in the
directory where you have your Metatrader installed. For example, I
installed Metatrader in the directory C:/Program Files/Go Tarder MT4.
Then, I should put SteadyWinnerV5.0-forSmallAccounts.ex4 in C:/Program
Files/Go Trader MT4/ experts/ . If you don't understand, read the
manual. There is Version 5.0 full version (with money management)
available, but you have to read through the end of this page to learn
how to get it.
If you are a newbie and do not know what an EA (Expert Advisor for
Metatrader) is, please learn from . If you do not know what forex is
about, you can learn from , and you will be able to use my EA.
Now, let me introduce myself. I am not a scammer, nor a professional
EA seller. I am a trader like you. I love using EAs and have some
experience on it. SteadyWinner is the result of my learning of MQL for
many years. I am using the EA on my live account myself, and it
generates steady profit. Here below, I will tell you how it works.
Trading principles
It is based on the following simple principles:
1. FOLLOW THE TREND. There are many indicators helping traders to
find out the trend. The indicators I use is just some Expotential MAs
on different timeframes. The method is very simple, but surprisingly
effective.
2. ENTER BUY OR SELL WHEN THERE IS A GOOD POSITION. A good position
to buy is when the trend is going up and we buy at a dip. And we do
the opposite to make a sell entry. A good positon is sometimes more
important than whether we are with the trend or not.
3. EXIT WHEN THERE IS A GOOD POSITION. There is a fixed take profit
and a stoploss for each order. However, an internal takeprofit and an
internal stoploss are put in the code. The EA will try to find a
better position to exit when the market situation is not favourable.
This help to reduce losses and drawdown.
Here below we will explain the above points in detail. I know it is
not the norm for EA developers to spell out their strategy. If you
find this section too long or too technical, you can skip it and come
back later.
We want to go into detail because from the discussion in some forex
forums, we sense that many users do not understand the strategy we
use. And this will affect their confidence in trading, especially
while the EA is losing.
Here is a screenshot of the trades opened by the EA. The horizontal
line is EMA750, which served as a division line between buy and sell
trades. When price is above EMA, we only buy. When price is below EMA,
we only sell. As you can see, we use the EMA as a trend filter. There
are several EMAs on different timeframes to do the same job. It is
difficult to show them all on one chart. But, when we say we use EMAs,
we do not mean that we trade the EMA crosses.
I want to make this point clear, because when I said we follow the
trend and we use MAs, many users instinctively think that we are
trading MA crosses. This is what they learned about MAs. Some users
asked for a refund because we miss all the big trends, and it is
unlike any of the trend-following systems they knew.
To continue, I want to introduce to you a book by Richard L. Weissman
called “Mechanical Trading system: paring trader psychology with
technical analysis”. I mention this book because it provides us with
the necessary terminology. In his book, Weissman said there are
basically two types of trading systems: trend-following systems and
mean-reversion systems.
A typical trend-following system is to trade the MA crosses, which is
a classic strategy. There are many free MA crosses EAs on the forums
and I guess not many people are using them. Why? It is because a lot
of patience is needed. Such EA cannot be put on a M15 chart or H1
chart. It has to be on a daily chat or weekly chart. An opened trade
can lasts for months. Also there can be big drawdown.
Another type of system is mean reversion. That is to enter the market
when it reaches extreme overbought or oversold conditions, and we
expect the market to go back to the middle. A typical system of this
is the RSI system. The drawdown is smaller, but there is a lot of
stress as the execution of the trades has to be fast and accurate.
SteadyWinner is both a trend following system and mean reversion
system. In trading principle 2 we mentioned above, we use WPR to
detect short-term overbought or oversold conditions. But we found that
this alone cannot be profitable. We need something called a trend
filter. We use several EMAs on different timeframes to find out the
direction and trade only in that direction.
Here is an enlarged screenshot on M1 chart. We can see [1] that the
EA follows the trend and opens a sell trade, and [2] the EA opens the
sell trade when WPR reaches the top (-0.01) and a reversion is
expected.
So the strategy SteadyWinner using can be called, in academic terms,
a trend-following mean-reversion system. Since the profit for each
trade is small, we can also simply call it a trend-following one-sided
scalper.
Why choosing this strategy? It is because of the development history
and also trading psychology. A few years ago, I wanted to build a
scalper on M1 chart with a high trading frequency so that there can be
small but quick profits. However, for a long time, I could not make
the EA profitable, so I began to add filters. When enough trend
filters are added, the EA became profitable, but not many trades are
left. The end product became SteadyWinner.
The EA is called by this name because the win rate is high and the
profits are small. When tuning the EA, I found that it is actually a
matter of choice. We can have more trades by loosening the trend
filter, but that means including more bad trades. We can have a higher
profit, but that means a bigger drawdown, too. So, what is a good EA
after all? My choice would not be the one with the biggest profit, but
the one with the smallest drawdown. I mean the one I do not have to
worry about. This finally becomes the core value of SteadyWinner.
So the EA is for traders who do not like big drawdown and are willing
to take only small risk. Psychologically, we feel safe. But since it
is also a mean reversion system, when the EA opens trades, it is
trading against the market, though still going along with the
long-term trend. It can be scaring. So, please do not look when the EA
is trading. In many cases, the EA will suffer some losses first, and
you will probably have an urge to terminate the trades manually. The
strategy SteadyWinner uses is not for human beings.
There is too much to be said. If you learn MQL4 language, you will be
able to see how all these are done through the code.
To my surprise, SteadyWinner, which only based on some simple and
traditional indicators, performs even better than many commercial EAs
I have tested. Don't believe? Here below are some backtest results. In
V5.0, we do the 99% tick data backtests, which are a bit different
from standard 90% backtest provided by Metatrader. Please download our
manual to read the detail.
Backtest results
SteadyWinner Version 5.0 Full Version 99% backtest 01 Apr 2007 - 31
Dec 2007 (risk=2%)
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2008 - 31
Dec 2008 (risk=2%)
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2009 - 31
Dec 2009 (risk=2%)
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2010 - 31
Dec 2010 (risk=2%)
SteadyWinner Version 5.0 Full Version 99% backtest 01 Jan 2011 - 04
Jun 2011 (risk=2%)
SteadyWinner Version 5.0 Full Version 99% backtest 01 Apr 2007 - 04
Jun 2011 (risk=6%)
As you can see, the curves are rather smooth, so the trading
principles are for the long term. SteadyWinner is not the kind of
commercial EAs that exaggerate the rewards and put your account into
too much risk, or even use some sorts of martingale systems (increase
lotsize when losing) that will eventually blow up your account.
Why there are not many trades
Because the EA will wait until the market is both trending and
ranging. It is said that 20% of the time, the market is trending; 80%
of the time the market is ranging. If we use a trend-following EA, we
will win when the market is trending, but will give the profit back
when the market is ranging. The opposite is also the case. I believe
only 1% of the time the market is both trending and ranging. If we
open trades at this time, the edge is on our side. AS you can see,
this will create an EA with low drawdown. The only drawback is that it
reqiures users to have some patience. It is not the kind of EA that
opens trades every day. There is no action. The EA will miss most
opportunities obvious to human eyes and open trades at a time
unexpected. There are about 10 trades a month, but not distributed
evenly. It all depends on the market situation. If the EA is newly
installed, it will take one or two days to collect data for the
indicators. So, patience is very important.
Money Mangement
V5.0 (Demo version) trades 0.01 and 0.02 only
The money managemnet system is very conservative and safe. The green
verticle lines at the bottom show the lot size. SteadyWinnerV5.0-for
small account (the demo version) can only trade with 0.01and 0.02 on
micro account, 0.1 and 0.2 on mini account, and 1.0 and 2.0 on
standard account. The EA can run if there is more than $110 US dollars
in the account.
V5.0 (Full version) is a 2% trader
In the Full Version, by default we put 2 % of our account free margin
into risk, which means at most for each losing trade, we lose 2% of
the money we have. To be even safer, what the EA does is to stop
trading when there is a losing trade, but in order to monitor the
market and let us know that the EA is winning again, we trade at the
minimum amount (0.01 for micro account. 0.1 for mini account, 1.0 for
standard account. The EA can autodetect what kind of account you are
using and act accordingly).
For V5.0 Full Version, the lotsize is adjusted when the account is
growing bigger, which creates a compound effect. It is the compound
effect that generates significant profit in the long run. It looks
conservative at first glance. But my research result is that using
such conservative money management can earn more than martingale
systems. It is because we can buy bigger units. When using martingale
systems, we have to stay with very small lotsizes to avoid busting.
Why 2 percent?
Many users asked why there is no inputs tab so that they can input
their own lotsize. The answer is that SteadyWinner is a bit different
from the EAs you got in the past. It always trades 2% of your account
free margin, which is supposed to be the optimal lotsize. Why? Because
I want to make an EA that is difficult, if not impossible, to lose.
The 2% principle is famous in gambling and risk theory. Suppose I am
a gambler and I have 10000 dollars. What amount of money should I bet
each time? The answer is 200 dollars. That means if I lose, I will
only lose 2% of the money I have. If we bet $300 (3%), we are taking
too much risk and will lose faster than a gambler who is risking 2%.
If we bet $100, we are a bit conservative and will not win as much as
a gambler risking 2%.
In forex, the calculation of risk is first determined by the
leverage, and then by the stoploss. Suppose we use a broker with a
leverage of 1:100, and our stoploss is 100 pips. So if we have $10000,
we should open a trade with 0.2 lots. If we win a little bit, we try
0.21. If we lose a little, we try 0.19. The lotsize is always 2% of
our account free margin. In this way, we always keep a balance between
risk and growth. Without money management, the EA will become
powerless.Please read the following webpage and you will understand
more.
New parameters In V5.0, we have opened some parameters for users to
choose their preferred settings. These parameters include the
Percentage of Risk (from 0.50% to 6.00%), and TestLotScale (from 0.00
to 1.00) as the lotsize used when the EA is losing.
Stoploss and take profit
V5.0 has a stoploss of 110 pips, a take profit of 55 pips and a
trailing stop of 22 pips. user will see their settings and other basic
information on the screen,
What is new in V5.0?
THE MAIN OBJECTIVE OF V5 IS TO RESTORE STABILITY. WE INCREASE THE
NUMBER OF EMAS FROM THREE TO FOUR. ALSO, WE USE ONE MORE INDICATORS TO
MEASURE THE OVER-BOUGHT AND OVER-SOLD POSITIONS. ALTHOUGH THE TOTAL
NUMBER OF TRADES REDUCES, THE NUMBER OF BAD TRADES REDUCES
SIGNIFICANTLY TOO. THE PREVIOUS FOUR VERSIONS CAN PASS 90% BACKTESTS
FOR MORE THAN TEN YEARS. AND V5.0 CAN PASS NOT ONLY THOSE TESTS, BUT
ALSO THE 99% TICK DATA BACKTESTS FROM 2007 TO 2011. AS FAR AS I KNOW,
ONLY A COUPLE OF EAS ON THE MARKET CAN DO THIS..
UNDER WHAT CONDITIONS WILL WE LOSE?
STEADYWINNER IS A TREND FOLLOWING EA. IF THERE IS A TREND IN THE
MARKET, IT WILL WIN. IF THE TREND ENDS AND TURNS TO ANOTHER DIRECTION,
IT WILL LOSE. IF THE MARKET TURNS AGAIN AND AGAIN, THERE WILL BE
CONSECUTIVE LOSSES.
BUT STEADYWINNER WILL SURVIVE, BECAUSE IT WOULD HAVE TURNED TO
MINIMUM LOTSIZE (0.01) MODE. THE ONLY WAY TO KILL IT IS ONE LOSE ONE
WIN, ONE LOSE ONE WIN, AND SO ON. IF YOU LOOK AT THE CHARTS ABOVE, YOU
WILL SEE THAT THE CURVE IS NOT ALWAYS SMOOTH. THERE ARE SOME
DRAWDOWNS. FOR V5.0, THE DRAWDOWN IS ABOUT 10% EVEN IF YOU USE THE
HIGHER RISK LEVEL OF 6%. IF YOU ARE UNLUCKY TO USE THE EA AT THE
BEGINNING OF A DRAWDOWN PERIOD, IT IS POSSIBLE THAT YOU LOSE 10% OF
YOU BALANCE FIRST BEFORE YOU WIN IT BACK.
HOW TO BACKTEST PROPERLY
Backtesting in Metatrader is not as easy as we first thought. In the
first two years I used Metatrader, I was puzzled by the backtest
results. They seemed to be different each time. If you cannot produce
the backtest result like mine, please download the historical data
first. If you follow all the steps, you will get better results.
Historical data are essential in backtesting. You must download them
from reliable sources. But still many people think that backtesting is
useless, we must forward test. And we must forward test an EA not on a
demo account, but on a live account, because the data are different.
And in live trading, there are many factors that will reduce our
profit.
If you are new in backtesting, please at least download historical
data from Tools / History Center / Forex / EURUSD / Download. It may
take a few minutes as the files are very big. The download screen
should look like this:
Is there forward test?
I do forward test by trading the EA myself. But I am running more
than one EA on my live account, and I do a lot of manual trading. So,
I have nothing to show. Moreover, I do not consider myself a
professional EA seller. So, I do not do everything they do.
My friend, I suggest you do backtests and forward tests yourself.
Trust yourself, don't trust me. First try SteadyWinner (Free Version)
on a demo account for a few months. When you are confident enough, run
it on your live account. It is very conservative, so there is not much
risk. Also, you are actually helping me if you run it on a different
broker. I do all my testing on a live account at GoMarkets. I have no
idea whether the EA has the same performance on other brokers or not.
I rely on you to give me some feedback. If SteadyWinner does not work
on a certain broker, please let me know, I will try to make some
improvement.
There is a forward test running on Birt's eareview, please click the
following link to see recent results:
There is also a forward test running on forexpeacearmy.com.:
Reviews
There is a nice review from Mellyforex, please follow this link:
Awards
We have won an award at the following site:
What is the difference between the Demo Version and Full Version?
The performance of Version 5.0-for small account (the free version
you got) is in itself profitable. It is fully workable on a demo
account or a live account and will never expires. But it is not as
good as the Full Version just because the lotsize is fixed.
How to get Version 5.0 (Full Version)?
You can obtain Version 5.0 (Full Version) at the price of US$88. You
will get the a user manual and an MQ4 file. So you can see inside and
examine the code. Many traders told me they do not want to trade with
a black box.
The product is distributed through ClickBank. Click the button below
if you want to proceed.
PLEASE MAKE SURE YOUR ACCOUNT CAN RUN THE DEMO VERSION BEFORE YOU
PURCHASE. THIS WILL SAVE A LOT OF TROUBLE. If you can run the demo
version, you can run the Full Version. At the moment, V5.0 can run on
4 or 5 digit brokers, no matter they are micro, mini, or standard
accounts, a normal broker or an ECN broker.
The money mangement of Steadywinner EA is very advanced. It can
calculate lotsize correctly in accounts based on all currencies, like
US dollars, Euro, Pounds, Australian dollars, Yens, and so on, without
extra setting.
I assume you have run the demo version for some time before making
any purchase. A REFUND IS POSSIBLE. According to our refund policy,
customers can request a refund within 60 days if they are not
satisfied for any reason.
Everyone has to go through a long way in learning Forex. I am no
exception. Forex is not an easy game. Like many others, I paid
thousands of dollars for systems and EAs, hoping to make money one
day. Unfortunately, the EA business is very dirty. I guess over 99% of
the EAs on the market are scams. You can see from the design of their
websites. The other 1% may be genuine, but the problem is that the
market is always changing. An EA good for this year may not be good
for the next year. But the hard fact is we are trading the future. So,
what we see is that new EAs come up every month, become hot for a
period of time, then fade out and are forgotten. That is why I think
EAs do not worth so much money.
When I was new in forex, I really hope that there is a genuine EA
that can at least recover what I have lost in manual trading, or buy
me some time so that I can learn with less tension. SteadyWinner is a
product behind such an idea. It is coded in the hope that it will last
longer than the other EAs.
Thank you for your patience to read up to now. If you have any
questions or suggestions, please feel free to write to me at . I will
try my best to answer all your questions. After all, I am just a
trader like you. Learning forex is a long way, I hope we can help each
other.
The signal service
Some old customers write to ask about the signal service. It is ready
now. Please visit to see the details.
Happy trading,
Ming and Henry
SteadyWinner Development Team
Email:
Disclaimer and Risk Warnings
Trading any financial market involves risk. The EA and the content of
the website and all related correspondence are neither a solicitation
nor an offer to purchase or sell any financial instrument. Although
every attempt has been made to assure accuracy, we do not give any
expressed or implied warranty as to its accuracy. We do not accept any
liability for error or omission. Examples are provided for
illustrative and educational purposes only and should not be construed
as investment advice or strategy. No representation is being made that
any account or trader will or is likely to achieve profits or losses
similar to those discussed. Past performance is not indicative of
future results.
Copyright 2010. All rights reserved.
