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EAs that sell the ask and buy the bid...
I'm curious if anyone has ever found success with scalping EAs that
sell the ask and buy the bid. I came across an EA that does just
that. The author won't let me share the entire code as he's selling
it for quite a bit of money. This is actually a little snippet from
the MQ4 that sheds some light on how it gets its entries/exits:
if (up_trend > 0.0) i = OrderSend(Symbol
(),OP_BUY,Lots,old_ask,0,0,0,"",5326,0,Red);
if (down_trend > 0.0) i = OrderSend(Symbol
(),OP_SELL,Lots,old_bid,0,0,0,"",5326,0,Blue);
I've tested it on both a live account and a demo account with North
Finance and the results are completely different. On the demo, it
generates a lot more trades. It does not generate nearly as many
trades on a live account, and only about 50% of the trades on the live
account are profitable. It seems to be a break even system on a live
account. Would switching to a different broker that has tighter
spreads solve this problem? Maybe Crown Forex?
I just can't figure out why or how the demo and live accounts are different. When I look at a tick chart in North Finance's demo vs a tick chart of North Finance's live platform, they appear exactly the same.
Any help would be appreciated.
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