Squid Game EA

Inspired by the South Korean Television Series – Squid Game. This EA is our most aggressive Martingale EA with a very high profit. Similar to the Squid Game series,  it has a very tempting reward awaits with deadly high-stakes ( higher chance to hit margin call). However, even with the current risk, we believe it is still highly profitable in the long run.

Some background story about this EA, we have developed this EA since 2021 but it was too easy to hit margin call till recently we added the avoid trading news period which reduces the risk for the EA and demonstrates a more promising risk-reward ratio.

Trading Strategy

Squid Game EA is available in only MT5 versions.

Live Account Performance

We started this live account performance tracking on 17 Jul 2023 with a base of USD 2,000. It is averagely able to earn 100% of profit within 1-2 month period. All trades are myfxbook verified.

As the Avoid Trading on News feature can’t be backtested and can only be used in real live trading, hence, we decided to let it run in the market for a while to assess the risk-reward ratio before we put this EA into the market.

As you can see, with a capital of USD2,000, it can earn around USD1,500 to USD3,000 plus for most of the months. If you click into myfxbook, you might see in terms of percentage, that the monthly earning percentage seems dropping every month. This is because, for this testing period, we didn’t withdraw the profit at all. ( Eg, after first month the capital grow from USD2,000 to USD4,000, that is 100%, but on next month if it earn another USD2,000, then it is 50% return)

In Oct 2023, we hit a margin call, and as we didn’t withdraw the profit and it lost all the profit plus our top-up, that is why the loss is so much. However, if we follow proper capital management, withdraw profit, and cap the capital at a certain amount, the loss during the margin call could be controlled.

The following is the monthly profit chart since inception.

The following is the accumulated profit chart for the Live Account since inception. Even with a big loss in Oct 2023 due to margin call, now we are back to profit territory again in just a 3-4 months period.

Please note that past performance is not equivalent to future performance. Future performance depends on market condition

Backtest Performance

As this is a very high-risk EA, we will use the last 3 months. If you see the Profit/Loss column is negative, it means that the month the EA hit the margin call. Then, you will see it will have a next row to test on the same period with higher Capital to illustrate we top up a certain amount.

Please note that this backtest does not include the Avoid Trading News feature as this feature can’t be tested in backtest. Compared with the live trading above, you can see there has been no margin call from Dec 23 till now, it also proved that avoiding trading on the news feature can help to avoid some margin calls. However, at the same time, it reduces the profit too as it won’t trade during a high-impact news period.

Period	Symbol	Capital(USD)	# Trades	Profit/Loss(USD)	Report
Feb 2024	EURUSD	2,000	185	-1,521.11	Report
Feb 2024	EURUSD	8,000 (Top up 6K)	1,438	1,959.96	Report
Jan 2024	EURUSD	2,000	125	-1,502.91	Report
Jan 2024	EURUSD	6,000(Top up 4K)	3,412	4,440.80	Report
Dec 2023	EURUSD	2,000	3,506	4,757.34	Report

Period	Symbol	Capital(USD)	# Trades	Profit/Loss(USD)	Report
Feb 2024	AUDCAD	2,000	542	343.77	Report
Jan 2024	AUDCAD	2,000	910	548.61	Report
Dec 2023	AUDCAD	2,000	1,090	850.04	Report

With the backtest above, you can see, that by combining trading of EURUSD and AUDCAD, you could potentially get back 100% of your capital within a month. It could be more but it entirely depends on the market.

Broker’s Requirement

• Use a broker with no commission charge
• Preferably with no swap fee too. However, this is optional.
• Leverage must be 1:500 or above
• If you want to start with smaller capital, you can run on a Cents account or Micro Account.
• Run this EA on EURUSD on the M1 timeframe.

If you are new to forex or do not have a broker account, you can register with our recommended forex broker that fulfills the above requirements -> FBS Broker

Available Setting

• Profit Target for each Order – Profit target in fractional pip for every open order.
• Starting Lots – The lot size for the first order. The lot size will increase in the subsequent order. You must set this with a ratio of USD 2,000 capital for 0.01 lot. Refer to the below for the calculation.
• Maximum # of trades – Maximum number of orders the EA allows to open in the Martingale series of orders. You can lower this number to reduce the risk and the chance of MC. The lower number of this value will increase the chance that the work will not be able to close as it is too far from the target profit. The default is 25 for this EA. You can increase it when it is necessary.
• Max Spread Allow – Only will open order if the spread is within this value. Change it based on your broker’s spread.
• Select Currency Mode – EURUSD or AUDCAD. Change it to AUDCAD mode for AUDCAD.
• Magic Number – Unique identifier for buy orders traded by this EA
• Magic Number 2 – Unique identifier for sell orders traded by this EA
• Enable Last Trade – If this is enabled(set to true), no new order will open after the chain of orders is closed. It’s handy when you want it to stop trading after the current orders are closed.
• Enable Hedging Mode – Enable this mode will trade both buy and sell directions at the same time. Default is enabled.
• Stop Trading New Series Start Time and Stop Time – The EA will not open a new series of Martingale Orders when it is between this period. This is for the user to schedule a stop trading period.
• Receive Notification after Total Order exceeds this value – Mobile notification when # order exceeds this number. Refer to Mobile Notification for more info.
• Avoid Trading News Feature – Refer to the Avoid Trading On News feature for more info. For Squid Game, the default is to avoid all high-impact news. It only stops trading 6 hours before the news and enables back 4 hours after that news.
• Avoid Trading Before Weekend – Refer to the Avoid Trading On News feature for more info.

For the setting, use the default setting except for the starting lot and Max Spread Allow.

For Max Spread Allow, update it based on the spread you see on the EURUSD pair. Eg, if the spread is 15, you can put 20 for this broker’s spread.

The starting lot will depend on your capital. Starting Lots must change with this formula

Starting Lots= Capital / 200,000

For example, if your capital is USD 2,000, you need to start with 0.01. If it is USD 20,000, you can start with 0.1

You can choose to use a higher number like 300,000 or 400,000 for a safer configuration. Safer configuration means lesser profit too, but you will have a lesser chance to have a margin call. You will need to balance risk and reward yourself.

Risk Management/Profit Management

This EA is using Martingale based strategy. All Martingale strategy always has a risk of Margin Call ( MC ).

Squid Game is our most aggressive EA and you might lose all your capital in your account. Hence, please make sure you start with an amount that you are comfortable with. We recommend you start with a small amount for a period of time until you are comfortable with it and then only increase your capital.

Follow the below to control your risk:

• Follow the capital/account requirements above and only put in the amount that you are comfortable risking.
• Transfer out your profit as frequently as possible.
• All the money in your account is at risk. So control the amount in the account to control the risk.
• Have a Mental plan about the maximum that you are comfortable to top up. Currently, we let the account capital grow to 2x of the original capital ( Eg, capital 2K, let it grow to 6K), and then we will withdraw all profit monthly.

If you have any questions or feedback, you can contact us or chat with us.

If you are new to Algorithmic Trading or Forex Trading, you can join our Algorithmic Trading Apprentice Program, where you will provide a step-by-step guide from understanding how it works to running your own trading bot to generate passive income for you. You can refer to our Algorithmic Trading Apprentice Program for more information.

You can also purchase Squid Game EA through our shopping cart below.