Market Breaker EA: A Comprehensive Review

Table of Contents

Market Breaker EA is a versatile automated trading tool that combines the functionality of an Expert Advisor (EA) and an indicator for the MetaTrader 4 (MT4) platform. It aims to identify potential breakouts in the market by leveraging price action analysis.

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Overview

Market Breaker EA utilizes sophisticated algorithms to detect high-probability price action patterns on the charts. When a potential breakout is identified, the EA can automatically place market or pending orders to capitalize on the anticipated market move.

Some of the key features of Market Breaker EA include:

Automated Trading: Once installed on the MT4 platform, the EA can automatically scan the markets, identify trading opportunities, and manage trades according to the configured settings, removing emotional interference from the trading process.
Risk Management: The EA has inbuilt risk management features like stop loss, take profit and trailing stop levels to limit losses and lock in profits on open trades.
Customization: Traders can tweak the EA settings like trade entry rules, position sizing, maximum open trades, etc. to align with their trading plan.
Indicator Version: Along with the EA, traders also get access to the Market Breaker indicator which identifies potential breakout zones on the charts.

How Market Breaker EA Works

Market Breaker EA utilizes a multi-timeframe approach, generally monitoring the hourly and 15-minute charts to identify high probability breakout setups.

The entry logic relies on principles of price action analysis to locate key support and resistance zones on the charts. Factors like candlestick patterns, momentum, market structure, and volatility are taken into consideration when determining trade entry signals.

Once a trade is entered, the EA implements prudent risk and trade management guidelines. Stop loss orders are placed to restrict downside, while take profit levels lock in gains as the market moves in favor.

The EA also trails the price action to secure profits. For example, as the market moves in profit, the EA trails the stop loss level to lock in gains.

Performance and Results

Backtesting Results

Extensive backtesting suggests that Market Breaker EA can generate substantial profits over the long run.

On a simulated $10,000 account trading the EURUSD pair on the H1 timeframe, the EA was able to grow the account to over $31,600 in about 1 year 9 months. This translates to an annual return of over 90%.

The backtests indicate a profit factor of 2.6, suggesting the EA has the ability to generate profits at least 2.6 times more than the losses. The max drawdown was around 25%.

Forward Testing and Live Results

In addition to stellar backtests, Market Breaker EA has also shown promising results in forward and live trading accounts.

As per the myfxbook link, the EA has been able to grow a $300,000 live account to over $912,000 in around 5 months of trading. This amounts to a 202% return in less than 6 months with a max drawdown of 25%.

These results indicate that Market Breaker EA has the potential to generate sizable profits in live market conditions when used prudently. However, past performance is not indicative of future results.

Who Is Market Breaker EA For?

Market Breaker EA can appeal to a wide variety of traders due to its versatility:

Beginners: The automated nature and ease of use makes it suitable for beginner traders looking to venture into algorithmic trading.
Experienced Traders: Customization options allow experienced traders to incorporate the EA into their existing trading approach to boost performance.
Investors: The EA requires a relatively small capital outlay of $25. This allows long-term investors to put their account into automated mode and potentially grow their capital over time.
Scalpers: The EA offers flexibility to tweak settings for a scalping approach that attempts to capture small intraday moves.

As long as traders use prudent position sizing and risk management guidelines, Market Breaker EA can be a valuable addition to portfolios of varying sizes.

Using Market Breaker EA Responsibly

While Market Breaker EA offers traders the convenience of automated trading, it should be used responsibly keeping in mind the following precautions:

No Guarantees: As with any EA, there are simply no guarantees of profit. Traders should be fully aware of this fact and size positions accordingly.
Risk Management: Market Breaker EA has inbuilt risk management features. However, traders should implement their own risk guidelines like capping risk per trade to 2% or less of capital.
Monitoring: Occasionally monitoring the EA to ensure proper functioning is recommended. Traders should also be up-to-date with market news that could impact trading.
Realistic Expectations: Having realistic profit expectations is vital. Backtest results should be taken with a grain of salt and expectations aligned with live performance.

By temperating expectations and trading prudently, Market Breaker EA can be a useful tool that augments a well-devised trading plan.

Pros and Cons

Pros

Automates tedious analysis and trade execution
Customizable settings to suit individual trading styles
Incorporated risk management features
Potential for steady capital growth over time
Requires relatively low initial capital

Cons

No guarantees of profitability
Monitoring still required occasionally
Risk of technical issues or connectivity problems
Results may vary across different instruments and timeframes

Cost

Market Breaker EA is currently priced at $14 on Forex EA Shop, compared to the original list price of $100.

At the discounted price, Market Breaker EA offers excellent value given its profit potential evidenced through extensive backtesting and live trading.

The low price point also makes it easily accessible to traders, allowing retail participants to gain access to institutional-grade algorithmic trading technologies.

Verdict

In summary, Market Breaker EA is an automated trading system that combines an EA with an indicator to trade market breakouts using principles of price action analysis.

It offers traders the ability to automate their trading while implementing effective risk management guidelines through features like stop loss and take profit.

Considering the stellar backtests and impressive live trading results, Market Breaker EA emerges as an exceptional value trading tool that could potentially enhance long-term trading performance.

However, as with any EA, profitable results cannot be guaranteed, so performing due diligence before purchase is highly recommended. By aligning expectations with reality and implementing good trading practices, Market Breaker EA can be a worthwhile addition for traders looking to take their trading to the next level using automation.