This EA and trading technique has developed the name “Double in a Day” because its uncanny ability to double trading accounts in one forex trade (below are several examples of this). It has the ability to automatically add additional lots to a successful trade on a risk free basis when currency trading, which is in fact its biggest strength. How to trade the Forex Market has always been a challenge. Read on for more information.
The Double in a Day EA and Course is a Joint Venture between Expert4x and EAFactory. EAFactory supplies and supports the EA and Expert4x supplies and supports the currency trading technique and course
History and background
In the last few years Expert4x has been promoting a free “Double in one Trade” course and free ebook as result of some live webinars where Forex trading accounts were in fact doubled using a manual pending order method to double account balances. See videos produced in prior years as well as download the free course from this link: http://expert4x.com/early-double-in-a-day-videos/
Over the years clients have been requesting an EA which would help them Double their account on an automated basis. This has led to the creation and development of the Double in a Day EA and trading course below.
A further influence has been Bill Williams, whose family is independently wealthy from trading, who says that you can never become an exceptional trading success unless you add to your winning positions. He is so highly regarded in the trading community that MetaTrader has allocated a whole section of their standard indicators to the ones used by him. This EA does exactly that as it allows you to add to winning positions AUTOMATICALLY and at NO RISK whatsoever.
The Philosophy behind the EA
This Expert Advisors differs from most Expert Advisors in that it not designed to be traded continuously on a set and forget basis (although this ability is available).
It is a trading tool designed to be used by a reasonably experienced Forex trader who is:
- Trading on a manual basis using market or pending orders,
- Already has developed ways of entering the market,
- Wants to automate risk control and
- Accumulate gains on a risk free basis.
What is achieved is that great Return on Risk ratios are created. There are many example where the return on risk ratio’s achieved were over 30. That means that if you only have 1 successful trade out of 30 like trades you will be profitable.
What the EA will do for YOU
Once the Trader has identified a market order or pending order trade, the EA will generate a strategy as result of the settings used by the trader. This is done by a Strategy Generator that is part of the EA. Settings can be pre-programmed so there is no need to waste time. The EA comes with 8 preloaded strategies and you can also add your own pre-programmed strategies. Once the strategy created by the Strategy Generator is accepted by the trader the EA takes over and completes the entire trade automatically by:
- Entering the trade when set to
- Placing the initial stop
- Moving the initial stop to breakeven to create a risk free trade
- Adding additional trades using 1 or 2 opportunities on a risk free basis
- Moving the stop to a level that guarantees a risk free basis
- Closing all trades when the target for all open trades is reached.
The EA can be set to trade continuously to open a new trade when the previous trade is closed by being stopped out or by reaching the target.
What you can control
This Expert Advisor will allow you to specify:
- How many top up levels you want to use.
- Where you want these levels to be.
- How much of your account you want to risk,
- what size initial stop you want to use,
- The minimum stop size you want to use
- When the initial breakeven stop should activate
- What % gain you want to target (100% to double but you can go for any other % such as 20%)
- Where you want to enter the market and in which direction
- Whether you want to trade continuously or one trade at a time
- If you want to trade continuously you can specify the SMA settings you want to use to determine buy and sell regions.
Double in a Day Course
The Double in a day Expert Advisor comes with a detailed 8 module course on how to use this technique to your best advantage. The modules also contain links to 2 additional downloadable eBooks.
- 5 modules cover trading the Double in a Day strategy and technique and the low risk high return long term approach.
- 3 modules and the 2 eBooks cover ways to enter high probability trades for Double in a Day trading. It will also show you the best times to activate the EA for high probability trades.
- Module 3 of the course also has a quick start process and checklist
In the end, it is still the traders responsibility to identify which trading technique to use and to identify trading opportunities. The EA will do the rest from then on.
Thorough user Testing process
As with most of the Expert4x EA’s and courses, they are thoroughly tested by our clients before they are formally launched. This process has happen for over a month and considerable feedback was received enabling us to make user improvements to the EA and the course. See the Forum for details of testing activity http://forextradeoftheday.com/forum/
Trading examples Results achieved in testing
Our most recent trades are available from the “DIAD Trades” tab on the above menu
There are a considerable number trading examples that you can access at http://forextradeoftheday.com/forum/examples-of-live-double-in-a-day-trades/ . You need to be a Forum Member to see these trades. Registration is free.
There are trading examples with results varying from 30% to 200% account gains off 1 initial trade.
Some other examples of Double in a Day trades
Example of the benefits of using the Double in a Day technique
Let’s take an example of a swing trader who identifies a good trading opportunity that is likely to result in a 70 pips gain. If the trader were to trade in the traditional manner, possibly using a following stop etc., the risk return ratio is likely to be 2. He would risk 5% of his account to make 10%.
However by using the Double in a Day technique which manages risk and the transaction automatically and tops up his winning transaction twice, he is able to generate a gain of 100% having risked 5%. This is a 20 return on risk ratio.
The Double in a Day EA is professionally supported and supplied by EAFactory who has an automated download and update process for all EA’s. They also supply a detailed user guide and email support. A personalised Username and password (1) is used to control the download and upgrade the EA. The EA is download process uses your PayPal email to communicate with you.
The Double in a Day Course and technique is supported by Expert4x using email support. The web based pages are password (2) controlled – the passwords are supplied in the Expert4x DIAD welcoming email.
The Expert4x Forum provides a great opportunity to view successful trades and discuss any matter relating to the Double in a Day EA and technique. The forum can be viewed at http://forextradeoftheday.com/forum/ . You need to be a member and registration is free.
Comments from testers
THE DOUBLE IN A DAY EA IS NOW AVAILABLE FOR PURCHASE for $229.00
If you already an owner of an Expert4x Expert Advisor you can obtain a 50% discount by logging into your EAFactory webpage at https://my.eafactory.com/Expert4x for a special 50% PayPal button. Contact them at support(at)eafactory.com for assistance if you need any. Please note this discount does not apply to owners of Expert4x courses, indicators or users of Expert4x services.
New Expert4x Expert Advisor clients can use this PayPal button.
Please note that your purchase allows you unlimited use of the EA on as many accounts as you wish as long as you do not use more than 2 computers/IP addresses. These can be a combination of VPS services, desktops or laptops. Once purchased additional licenses can be purchased
Questions and Answers
Question: Can Traders using US trading accounts use this EA.
Answer: The main restrictions US traders have are hedging and decreased leverage. There is no need to use hedging when using this technique. The reduced leverage allowed (50:1) will only impact you if your account is under capitalised or if you are risking too much of your account on any one deal. Most US traders will not be impacted by this.
Aggressive US traders trying to double their account in 1 trade will have much fewer opportunities due the 50:1 leverage restrictions.
When the EA closes transaction it does so in FIFO order so is US FIFO compliant.
Question: I don’t have time to time to trade. Can the EA be traded continuously?
Answer: Yes, the EA can trade continuously. That facility is available. However the EA has been designed to be used by manual traders to be used when trading their normal trading technique. This EA is a more of a trading tool than a set and forget trading robot.