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The Reaper EA MT5

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Forget about the beautiful history tests — the Reaper EA Expert Advisor is already working ahead of the curve!

Let’s face it: the biggest problem with most automated trading systems is that they all show very good results when tested on history, but only a few of them actually work on real accounts.

This is very unpleasant, especially when you trust them with your hard-earned money. (Not to mention a bunch of expert Advisors with customized test results, but that’s another story.)

The Reaper EA Expert Advisor is based on a strategy that has been working successfully for many years. All this time, she was only getting better. Instead of relying on good test results on history and “hoping” that the results on a real account will match, real trading was used to develop the Expert Advisor, and the existing methods served as a starting point.

Run these settings on the EURUSD M5 chart, and all 14 pairs will start. Don’t forget to specify the suffix in the parameter.

Results of work on real signals:

After the purchase, read the blog:

  • When using AutoGMT, make sure that the correct time settings are set on the computer/hosting! (check out this comment)
  • Run only on the M5 timeframe, all 14 pairs will work from one chart (OneChartSetup, EURUSD M5 is recommended, do not forget to specify the suffix)
  • Optimized to work on 14 pairs: eurusd, gbpusd, usdchf, usdjpy, usdcad, eurjpy, eurgbp, eurchf, eurcad, euraud, gbpaud, gbpcad, gbpchf and audcad
  • It is recommended to work on all these pairs in order to distribute the risk.
  • It is recommended to use the “Mode B” mode, which works more stable for most brokers.
  • Mode B mode uses stricter inputs and a slightly larger stop loss, so as not to get into a stop-out when the spread expands.
  • Mode A mode uses a smaller stop loss and makes more trades — it can show very good results for brokers with very low overnight spreads.
  • I recommend specifying LotsizeStep in the AutolotMode parameter. (automatic money management)
  • LotsizeStep values -> low risk: 500; medium risk: 250; high risk: 150
  • It is recommended to use the Expert Advisor from ECN brokers with a low spread.
  • The minimum recommended account size is$ 250 for working on all 14 pairs. You can also run only on a few pairs — in this case, $ 100 is enough.

[spoiler title=”Read More…”]

  • IMPORTANT: The Expert Advisor opens trades only for two hours a day: an hour before the position transfer time (rollover) and an hour after. For most brokers, this time is from 23: 00 to 1: 00.
  • The Expert Advisor trades limit orders. Slippage in such transactions is usually positive.
  • The Expert Advisor uses fixed stop loss and take profit levels to minimize negative slippage when exiting.
  • The Expert Advisor opens only one trade for each pair.
  • The Expert Advisor uses several exit strategies that limit the risk if some time has passed and the transaction has not yet reached the take profit level.
  • Safety first of all: the Expert Advisor does NOT use a grid, martingale, averaging and other risky methods.
  • The results of many months of work on a real account even before the publication of the Expert Advisor on MQL5.
  • The product is already at a very high-quality stage of development (without errors, with proven performance).
  • It has also been successfully tested on real accounts with different brokers.
  • You don’t need set files to work. You only need to configure the Lotsize parameter.
WARNING: Do not forget that past performance does not guarantee a profit in the future. I always recommend that you first run the Expert Advisor on a demo account or on a real one with a very low level of risk. This will allow you to better understand how the Expert Advisor makes transactions and fixes profits and losses. This will allow you to overcome emotions and not let fear take hold of you during trading. It is very important to understand how the system works, and what ups and downs there are!

[/spoiler]

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