Locker Expert Advisor For MT4
WE IMPROVED THIS EXPERT ADVISOR FOR YOU!!!
PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!
Table Of Contents:
- Locker Expert Advisor For MT4
- Locker Expert Advisor For MT4 - HOW DOES IT TRADE
- Locker Expert Advisor For MT4 - THE INPUT SETTINGS
- Locker Expert Advisor For MT4 - WHERE AND WHEN
The Locker Expert Advisor For MT4 is a scalping system EA which takes trades for you. It operates at a high-speed meaning it opens around one hundred to two hundred-fifty trades per week. It operates with opening more trades or adding more to the position when a trade is in profit.
It is pretty stable as an Expert Advisor. It has relatively low drawdown. It’s a very dangerous weapon if you use it correctly. If you’re looking for stable profit's over-time. This is your EA. You don’t have to use huge accounts since the volume is based on fixed lots, not risk percentages.
Here is a screenshot of the EA doing its thing:
Locker Expert Advisor For MT4 - HOW DOES IT TRADE
As you can see, the Locker Expert Advisor opens trades when it is in profit. But it hedges as well with opening an opposite position. It is designed to always increase your profit’s. Even when you’re in drawdown, the EA will find a way through hedging, to put your account in a better position.
If you didn’t notice, the Locker Expert Advisor doesn’t use Stop Losses. That might raise some eyebrows since using Stop Losses is recommended everywhere on the Forex World. It’s logical to use one. But the Expert Advisor protects you from ruining your account through hedging. Since it’s mostly the same thing. If you open a sell position of x lots, means you closed a buy position of x lots. That’s the logic behind it.
The Locker Expert Advisor doesn’t use any Take Profits as well. It closes all trades of one cycle, after the trades are x $ in profit. The curve of the back test looks pretty steady. It has small dips and huge profits.
Most of the trading cycles end in profit. There might be small losses but that’s the risk with every Expert Advisor. But generally, from testing, the Locker Expert Advisor seems to be designed to “lock” profits. Meaning, if you’re the type of guy who wants an Expert which takes high volume trades but want steady profits over time. This might be a good option.
Locker Expert Advisor For MT4 - THE INPUT SETTINGS
Depending on your trading personality, you can play around with the settings and find the best options for you. As I said, this EA operates on fixed lots. So, you can play around with it and find the sweet spot for yourself. It is truly versatile as far as profits go. You can run this on a small account as well. Just do testing before trying it, to find the most optimal settings. We’re going to go through the settings now.
Here is a screenshot of the inputs:
NeedProfit – It's basically the amount needed for the Locker Expert Advisor to close the trades. You can call this the "Locking” Part. It is in a percentage format. So, 0.001 meaning 0.1% of the Account balance. The best option here would be 0.01 in my opinion (1%). Meaning, each cycle of trades should profit at least 1% before closing. It's an optimal solution. You can play around with this setting yourself since it will be different for each trading style.
StepLot – This value represents how much will lots will be added from the starting lots, when a trade is in profit. The default value is 0.20. Meaning after a trade of x lots has been opened & it's in profit. The EA will open another trade with 0.20 lots. That's a way to catch quick trends. You can play around with this value. As I said, it will depend for each trading individual, since everybody has their own way of trading. Even with an Expert Advisor, you'll need to find your sweet spot with these settings. Since they will affect the Expert in a huge way.
Lot – This value represents the starting lot for each trade. The default is at 0.50. I would recommend to change this accordingly to your Account Balance. If you're testing with a smaller account, I would recommend something like 0.1. This also affects the speed of the EA and the number of trades it takes. Since with a larger lot size, it will achieve profits faster. But you can lose more money as well. You'll need to find a sweet spot for this. It depends on the markets you're trending as well. If the markets are more volatile, you'll need to lower down this input to protect your account. Your profits will be the same, since that depends on the "NeedProfit” input. So, this basically affects the speed of trading. Higher lot size, quicker profits, more trades. But it can go either way. So please proceed with care.
Step – This value represents the “space” between orders in the market. This value is in points format. The default value is 50, which means it will open a trade each 5 pips, if the trade is in profit. So the Locker Expert will check, if the current opening trades profit is less than “Need Profit”. Meaning Account balance + “Need Profit” percentage, and if it has at least “Step” distance in points, above/below last buy/sell, it will open another trade with the Step Lot. This is a way of “adding” to the current open position. This allows us to get profits quicker.
Spasenie – Is basically a Russian word, which means “Rescue”. It is a Boolean which you can turn to True or False. It basically turns trading on or off. Turn false if you want to protect your account.
So, after we went through the settings, we have an idea of how this EA works. It trades in the direction of the trend basically; it’s designed to Lock the profits as soon as possible. It adds to positions. Which guarantee steady profits over time. What this EA will not give you is some crazy returns. Maybe you can play around with the settings & get lucky here and there. But the best thing is to play it safer & guarantee more longevity. I would recommend to anyone who wants to use this Expert Advisor to test it on multiple markets before going live.
Locker Expert Advisor For MT4 - WHERE AND WHEN
Best thing for the Locker Expert Advisor For MT4 is volatile markets. Which means markets that move a lot during the day. The Locker Expert can profit more with these markets. In these types of markets, I would recommend to up the setting “Need Profit”. Because logically, it will hold trades for longer which will guarantee larger profits. In ranging markets, use bigger lot sizes and smaller Profits. Generally, aim for 1-2% profit per cycle. That seems to be the most optimal range.
If you want to go “YOLO” with a small account. You might get away with a larger profit. Who knows, maybe you can flip your account over a day. But I would recommend to go slow and steady.
From my years of experience trading the markets, that has been the best way to go about it. Don’t get greedy and be patient. Wait the Locker Expert Advisor to do its thing. It will not let you down. Anyways this is only advice and try everything at your own risk. Even though Expert Advisors trade by themselves, you can transform it, to fit your own trading style. If you understand what the Locker Expert does, you’ll have an easier time finding your most optimal settings. Go ahead, test it and find out if this thing is built for you.
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