[EA REVIEW] Budak Ubat v1.27

Budak Ubat (BU) v1.27 is a martingale based EA from a Malaysian based trader/ developer. Just like any other EA using martingale technique, this EA places and entry, if it hits the TP, bag the profit. But if it don't, then the next entry multiplies based on setting.


EA Logic
This EA is interesting as it is not placing random entries, rather it is riding on market movement (RSI > 50). If the market moved the opposite direction after the first entry, next entry is compounded by multiplier.
e.g. Multiplier x1.2
1st entry : 0.02
2nd entry : 0.02
3rd entry : 0.03
4th entry : 0.04
TP level is adjusted accordingly and the entries are always closed with overall profit.

Multiplier setting
Insane = x2
Very high risk = x1.7
High risk = x1.6
Medium risk = x1.5
Low risk = x1.4
Very low risk = x1.3
Safe = x1.2


Review

• Risk Multiplier : Don't be fooled by the name. Anything other than Safe is dangerous! Remember, we're not here to gamble. Rather we're here to make constant profit albeit small, and in this case capital preservation is utmost important. 
• Money Management - Don't use this robot with less than 10,000 in equity (equivalent to USD100 in Cent account). And we mean it! Forex is no magical venture and this robot is certainly not! Martingale is about calculated risk in playing with probability until you eventually hit profit, therefore you need a lot in equity to use this technique.
• TimeFrame (TF): The developer recommends M5, but let's be reasonable. When market trends in opposite direction, this EA keep on opening entries every (n)TF set. Thus, if your capital is limited, frequent intervention is needed to adjust higher TF to save your account. When it opens more than 10layers/ entries or margin% is down to 10,000%, that's the time to increase your TF setting. M15 might be more reasonable in my opinion.
• Pair : Developer recommends EurUsd, EurJpy, UsdJpy, GbpUsd, AudUsd. But the idea is any pair with low spread. It is crucial to have low spread as you can't afford to have candle reaching the TP but not quite hitting it because of spread gap.

Backtest result
Click here for BT result

Recommended Settings
1) Use Cent/ micro account with atleast USD100 deposit. More is better.
2) Use high leverage setting, > 1:500.
3) Use 3pair only. e.g. EU, EJ, UJ, GU, AU
4) TF 15minutes. Lesser it is, more intervention needed.
5) Lot size : 0.01

**Update@24.04.2017**
I did forward test with the abovementioned setting. The EA gave me 40% return in three weeks and eventually MC in the middle of fourth week. I suggest to start with only 2pair until you manage to secure your equity at 100%.

Verdict

Risk :  ✸✸ ✸  Medium risk. The risk is quite high but with frequent human intervention it can be managed. Always keep it in check and increase TF accordingly.

Reward : $$$ Medium to High return. This EA can fetch you profit up to 40% per month. Can be higher at times, but most likely to be lower.