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Why Is the R$I Liberator the best EA you will ever experience?
Entries
- It is US Broker Compatible regarding FIFO, Hedging and can be used on low leverage
- It uses one of the most powerful known technical analysis entry signals (The R$I Hook).
- It uses one of the most powerful Pip Retriever processes known (Adding more trades to losing positions)
- The exposure to runaway trades is reduced as entries are likely to be at the end of a trend.
- The settings provide many easy risk management options to lower risk and drawdowns (see below).
- Although not designed for Proprietary Trading, the potential success rates and lower drawdowns make the RSI Liberator a good candidate for Proprietary Trading strategies if managed responsibly and creatively
The robot reviews the selected currencies for RSI Hooks. It identifies them using the close of candle basis and enter a trade against the trend of the previous trend prior to the hook. The target for the initial trade can be determined by the trader and there is a hidden target option.
Exits
If successful it will close the trade at a profit when the target or hidden target is reached.
If the trade moves against the intended direction it will open additional trades in the same direction as the original trade every Gap size travelled. Trade lots sizes will depend on the the multiplier factor used. A group of open trades is called a run or basket. When the total profit of the Run or basket of open trades reach the Dollar or pip amount specified in the settings the Robot will close all the open trades in the run.
Continuous, Set and Forget Trading.
This is a continuously trading Expert Advisor (Trading Robot) using a swing trading approach which could leave trades open for days. It has been designed for no manual intervention but setting changes that will impact future trades can be made while there are open trades.
The Robot has an Drawdown stop whereby it will close all open trade when the maximum drawdown specified by the trader is reached. This will mainly be used by Proprietary traders
We do not produce optimized settings for this EA or Proprietary Trading settings. The defaults are sufficient for reasonable results. The defaults are for a $1000 account. Simply increase the lot sizing proportionally for bigger accounts and apply the adjustments detailed below.
To lower risk, drawdowns and income consider one or more of the following adjustments.
- Increase the time frame traded. From 15 min to 30 min or more for example.
- Increase the RSI Period from 4 to 5 or more for example.
- Increase the RSI Overbought/Sold Levels from OBought 75 OSold 25 to Obought 80 OSold 20 or more for example
- Increase the Price Gap from 25 to 30 or more for instance.
- Lower the lot sizing from 0.02 to 0.01 for instance if possible.
- Increase the take profit from 20 to say 25 or more for example.
- Lower the number of currencies traded from 10 to 9 or less for example.
- Increase the balance on your account. A $400 drawdown on a $1 000 is 40% whereas it would be 20% on a $2 000.
- Consider increasing or decreasing the basket closure targets
While trading these changes can be made at any time and will only impact future trades. This is however done when there are no or very few open trades. Ideally, it is best to demo trade for a week or 2 to make sure you are getting the results you expect and make any changes prior to trading live.
To increase risk, drawdowns and income and possible returns do the opposite of the above suggestions (Instead of increasing, decrease)
Those traders who would rather use their own optimization results are obviously free to do so.
For aggressive results use the 15-minute timeframe. Use the 30-minute time frame for balanced results and 60-minutes for conservative settings.
