This is one of the most popular Expert Advisors that implement the Grid and the Martingale methods without using any indicators. Brazil System Premium is designed for the MetaTrader 4 platform and published on the MQL market in the paid category. This EA appeared on 11th October 2016 and has been updated many times, finalizing with version 13.0 from the 6th of April 2020. The updates contained bugfixes, additional functionalities, and optimizations.
The author of this product is Ramil Minniakhmetov, a well-known developer among the MQL5 community releasing 12 products and having 6 signal services. We are no sure if the review incentive by the author’s promise of free products is resulting in this high popularity, however, this kind of trading belongs more to the betting category than it is something analysts will think about using.
The base of the EA is not about predicting where the price will move, but about the mathematical construct that can generate profits, although not in the long term. Interestingly, the EA starts trading by opening opposite trade directions. Once Take Profit order gets hit by one trade, the process is repeated with an increased lot size. Finally, the trade sizes will stop increasing once the maximum Locked Orders are reached. It seems the nemesis of the system is the forex news. News Stop Trading module is therefore integrated that just suspends trading during this time. This process is fully automated once you plug in the news feedback links, as instructed by the authors on the Overview page. A guide for the Brasil System Premium is uploaded in the comments section. Optimal currency pairs are EUR/USD, USD/CHF, and NZD/USD set on the H1 timeframe. The minimum deposit is $3000 or 3000 cents if you use Cent accounts.
In the settings panel, you will see some parameters even though there are no indicators to adjust. Brazil System features Auto lot management dependant on the deposit or balance size. Lot multiplier is the key factor for trade size enlargements during the chain orders opening. A Trailing Stop is integrated, although there are no advanced calculations, just the fixed distance. Take Profit and Stop Loss are present so no trade will remain without maximum drawdown. New Cycle setting will enable the EA to work without limit and open new trades, while disabled limits the EA to a number trade series. Imp1DRAW settings are meant for the news websites that feed the EA when to stop trading. Once you plug in the EA you will see the panel on the chart showing main and news related settings currently applied.
The signal service which presented Brazil System Premium performance is disabled. The manual warns that at least 1 in 3 attempts to use the system will result in an account wipeout. It is recommended to use a broker with low spreads as the EA opens a high number of trades in a short time. The aggressive approach could generate 300 to 1000% gain per month. 30% of the weekly profit should be withdrawn until the initial deposit amount. Afterward, 10% of profits should be pulled out.
Some manual intervention can be of benefit once the EA enters a drawdown. If this happens the author suggests setting New Cycle setting to false for all pairs with drawdown, set Max Lock order to limit to 2 and the EA will close trades ASAP. To better manage risk, traders should not increase lots with growth, instead apply the Brasil Syste, to more currency pairs. Finally, since the system is not profitable in the long term, extreme utilization of the system in a short time could be the best approach for some traders who like to bet. In such conditions, Brazil System Premium could generate extreme gains, like 7500% in 12 weeks.
The Brazil System Premium has a price tag of $30 without any ability to rent it. A demo is offered and has been downloaded 8616 times. This price is in the low range, and since the system is unique with very high gain possibilities, it is worth the fun.
Many get-rich-quick traders will be attracted to this product, which can be seen by 180 reviews left, averaging 4.5 stars rating. One of the notable recent reviews states: “Fully martingale method with many parameters to set based on your risk appetite. Working great if you use proper money management. Ideally, $3000/currency pair for 0.01 lot to avoid a margin call.” Note that this EA should not be considered seriously if you plan to invest in trading.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/18602