Profit Retriever Up Grade May 2023
The Profit Retriever has been updated for an Alternating Strategy which was Beta Tested in the previous week.
MT4 and MT5 Owners of the Profit Retriever can now download the updated version from the EAFactory Website from this link:-
(You would need to log into your EAFactory account first - contact support at EAFactory for assistance)
Simply use the Download and install instructions provided by EAFactory as shown in the picture on the right. Remember to download the user manual too.
The following changes have been made to the previous settings:
A dropdown menu has been added to the "Approach of Lots Change" setting as shown on the left (Red Arrow)
When selecting the Alternating Approach the settings highlighted in orange become active and the Profit Retriever will trade according to the settings entered into this section
To Activate the Alternating Approach you would (see the red number in the picture on the left):
Select the Alternating Approach for the dropdown
Establish the initial Trade Size
Set the first Alternating Rate
Set the second Alternating Rate
Enter a Closure $ amount
Example of trading when a few negative deals open:
So what will happen is that the first trade will open at 0.2 lots
If it goes negative, a 2nd trade will open at 0.14 Lots (0.2 x 70%) at the next gap level.
If the price continues to go against the trading direction a 3rd trade will be opened at 0.25 lots (0.14 lots x 180%) at the next gap level
If the price continues to go against the trading direction a 4th trade will be opened at .18 lots (0.25 lots x 70%) at the next gap level
If the price continues to go against the trading direction a 5th trade will be opened at 0.32 lots (0.18 lots x 180%) at the next gap level
etc ..... until the total profit of all open trades equals $10 (per the above settings) and all trades will be closed
Remember to download the User Manual with more explanations of the changes
Please watch this video for details of the Upgrade
Interesting Extracts from the Beta Testing
The general discussions in the forum have been very positive but is is best to test the strategies very well on demo accounts for a few weeks before trading them live. One of the Key settings is starting with low initial lot sizing
Strategies possible using the Alternating Approach
Traders can use settings to increase, decrease or keep lot sizing the same over time
It often does not matter which % comes first (The small one or the large one)
These are only example of many possible strategies. You need to experiment with which ones meet your needs best. You can experiment with settings where both the setting are above 100% or where both are below too.
Currently there are no optimized settings available. These will take 10 days to produce. Rather than delaying the Upgrade for 10 days we have made the upgraded version available to traders who have the ability to create their own settings. In the meantime the default settings are quite robust and can be used for demo testing as long a lot initial lot sizing does not exceed 0.2 lots.