MyForexPath EA

🧠 Trading Strategy

• Trend-following system: Utilizes indicators like Moving Averages (MA) and Parabolic SAR to detect trending market movements and enter trades in the trend direction​

• Entry/Exit rules: If a trade goes awry or the trend reverses, the EA will close open positions to minimize losses, then potentially re-enter in the opposite direction​

• Multi-pair setup: Primarily trades AUDUSD, EURUSD, and USDCAD on hourly charts (H1)

⚙️ Risk Management & Lot Sizing

• Grid and martingale hybrid: Starts with fixed-spacing entries followed by martingale-style scaling—i.e., increasing lot sizes after losing trades​

• Drawdown control: Claims a built-in system to cap drawdowns by tightening stops or closing trades proactively​. Yet in practice, drawdowns often exceed 30–37%​.

🧮 Performance Metrics

⚠️ Risks & Concerns

• High drawdown & risk profile: While aiming to control drawdown, real-world figures indicate significant account volatility and potentially large equity drops

• Opacity from vendor: Developers remain anonymous; difficult to verify their experience or ongoing support capabilities.

• Aggressive martingale use: As multiple reviewers note, grid/martingale strategies can amplify losses during sustained drawdowns​

• No community feedback: There’s a notable lack of user reviews on Forex Peace Army or Trustpilot​

• Reddit skepticism: One user succinctly warned:

  “That is too good to be true. Stay away from it.”

✅ Summary

MyForexPath EA follows a trend-following strategy enriched with grid/martingale techniques to chase recovery trades. While backtests and live performance showcase decent returns, they come at the cost of high drawdowns (~35–40%)—posing significant drawdown and risk-of-ruin concerns. Additionally, vendor anonymity, limited community feedback, and heavy martingale use suggest it may be best-suited for risk-tolerant traders who understand these underlying mechanisms.