Real account ranking earnings No. 1! Morning scalping EA with multiple positions "Ichiban Chicken"
In REAL-TRADE's three-month real account rankingthe top in the profit earnings category is "Ichiban Chicken" (2020.9.8).
(Here is the REALTRADE account)
The account operates two Ichiban Chicken pairs, Ichiban Chicken USD/JPY and Ichiban Chicken EUR/JPY, but
with Ichiban Chicken alone, over eight months starting January 2020,+480,000 yenhas been earned, drawing attention for its high profitability.
Looking at the demo forward, it experienced a drawdown in March, but then progressed smoothly and updated profits. The latest version, Ver1.9, has been optimized to reduce the drawdown in March and upgraded accordingly.
We will examine in detail the forward-period performance of the latest version and its backtest results.
EA Overview
"In the early hours Japan time, it determines the trend direction and enters on a counter-trend basis."
"As long as entry conditions persist, it will enter up to the maximum number of positions (the user-specified limit within 15)."
"It does not hedge. If there is no daily close and it enters in the opposite direction, it will trigger a stop loss."
As the name Ichiban Chicken suggests, it is categorized as a morning scalper EA that starts in the early morning.
With a maximum of 15 positions, it trades in the direction of the medium-term trend. In the short term, it behaves as a contrarian strategy.
Trade Example
▲ Blue: Buy, Red: Sell. It enters on pullbacks and retracements in the trend direction (trend-following in the trend direction).
It opens positions up to a maximum of 15, and when profits appear it settles them all at once.
The SL per position is 80 pips, so even in a worst-case scenario, a stop-out will limit losses.
Backtest Analysis
GogoJungle conducted, 2003.8–2020.4, spread variation
0.1-lot fixed
When the win rate drops below 90%, profits tend to decrease or annual profit becomes negative.
In 2004, 2009, and 2013 profits are higher.
On average,
Annual average profit: 158,000 yen
Average trades per year: 821
Maximum drawdown: 254,000 yen
Maximum held positions: 15
Win rate: 91%
Average gain: 605 yen
Average loss: -4,036 yen
This is the result.
Recommended Margin
(4.5 × 15) + (25.4 × 2) = 1,180,000 yen
With leverage of 25x, to keep maximum drawdown around 50% of free margin, about 1,180,000 yen is required.
If leverage differs, of course the recommended margin will be much lower.
In long-term backtests, the maximum drawdown is in the 200,000-yen range, so for a multi-position EA, that is not a small drawdown.
Ver1.9 Forward Period Comparison
▲2019.11.1–2020.8.31
In Ver1.9, there is also a March drawdown, but profits are quickly updated, ending up at +1,170 USD.
Compared with the forward, you can see a noticeable difference in the time to profit update.
What distinguishes it from similar EAs?
When it comes to morning scalper multi-position EAs, well-known ones include "Black Panther USDJPY" and "Premia Scal USDJPY M5."
While the maximum drawdown and performance are of interest, the important question is whether the profit-and-loss curve resembles similar ones.
We compared the yearly P/L for a 0.1-lot setting in backtests.
| Ichiban Chicken | PremiaScal | BlackPanther |
▲ Ichiban Chicken (left), Premia Scal (center), Black Panther (right)
The larger gains of BlackPanther stand out, largely because it makes more trades. While Ichiban Chicken and PremiaScal share weaknesses in 2011, in 2014 Ichiban Chicken's profits were about 20 times higher.
Although these are all morning scalper multi-position EAs, there are differences in yearly performance.
Please compare max DD and PF, etc., below.
Related article:
Morning scalper multi-position EA comparison: Premia_Scal_USDJPY_M1 and Black Panther USDJPY
Written By Tera GogoJungle Marketing.
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