NewDigital:

I had a good look at his statement for all of Nov/Dec/2005, and disected all the losers, and added the winners up to see what kind of results he came up with trading the GBP/USD only on the 15min charts.

He averaged around 18-21 pips/trading day based on 1 lot. Total pips was 3800-4200/month based on trading multiple lots.

I cant read code, but it looks like he starts out with a 1000 pip SL then it chnages with markets, but thats way to big for my liking. Out of 16 losing trades in less than 2 months(38 trading days)he had 5 sure losers where you would need a 200-500 pips SL to make any money, and these 5 trades didnt even go into profit, they were all opposite of the trend.

The good news is that its a very good EA, he has alot of +5 pip winners, and yet the other 11 losing trades, all went into profit between +7 to + 200 pips. A 70 pips SL would have been plenty, in fact the +200 pip trade had a DD of -67 pips, and there was a -57 pip DD. If it wasnt for those 2 trades the SL could be at 40 pips, but a 70 pip would be more reasonable.

I didnt look at all the winners to see what the DD was, but there was 40 trades in the +1 to +10 pip area, and alot of those probably were bigger winners at one point. The bottom line is that this EA can be improved by adjusting the TS, TP, and SL.