Introducing Progress2, a Scalping EA that stacks stable profits on EURUSD, ideal for counter-trend trading.

Progress2

This timeSubaru-sanis introducingProgress2.

Logic

Progress2 isEURUSD-only,a mean-reversion scalping EA.

Mean reversion means, in simple terms,

to sell in an uptrend and to buy in a downtrend.

Some may wonder, isn’t that just losing? But

if you can accurately identify the turning point of the market and apply mean reversion, you can profit.

Think of it as a method that targets reversal points.

Then why the currency pair isEURUSD?

This is also closely related to the mean-reversion logic.

As a prerequisite for using mean-reversion logic, it is important to choose a currency pair that does not exhibit extreme one-way moves (up or down) for large movements.

If the price spikes upward sharply and you enter mean-reversion, it may not revert but rise even more,

causing losses, so you can exclude such currency pairs.

The currency pair suitable for this isEURUSD, according to the author, Subaru-san.

The reason isEURUSD isthe most traded currency pair in the world, so it has characteristics where large movements from buy/sell orders by some investors are less likely. Since there are many participants,

when there are sudden moves, a tendency to bounce back often occurs, which is what is being used.

And in this mean-reversion logic,martingale methodis also considered an effective technique.

The martingale method is a technique where after a mean-reversion entry, if the price moves opposite to the expected movement, you enter again with a doubled lot size.

Some people consider martingale dangerous, but

if you can properly identify trend reversals, it can be a very effective method.

AndProgress2does not perform unlimited martingale;a maximum loss is set relative to the account balance

so even if the anticipated movement does not occur, the risk of wiping out the entire account is minimized to near zero.

Forward results

Forward results from March 24, 2019 to November 5, 2019.

Initial lot size is based on 0.05 lots for the measurement.

You can see steady profit accumulation.

Backtest results

Backtest results.

Measurement period is from January 3, 2016 to April 12, 2019.

Initial lot size is also 0.05 lots for the measurement.

That is all for the introduction of Progress2.

I hope this helps when choosing an EA. Thank you.