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Synergy FX Fund Management

Understand Your Risk


The Ichi Scalper EA (“Ichi”) is an automated trading robot and is programmed to be profitable in a sideways market.

Warning – Ichi is unlikely to be suitable for traders with a conservative risk appetite. This EA can experience large drawdowns (20%‐30%), have trades running for 2-3 days and if the market is not sideways and/or the currency moves a large number of pips without any significant retracement, Ichi may lose all the money that you have allocated for the EA in your account. Ichi’s trading algorithm is based upon the current favourable conditions between the AUD and USD and as such will not always be profitable.

How to Control Your Risk

There are a number of ways to control risk with Ichi.

Configure the balance that is used to determine the starting lot size – changing the EA setting “PercentageOfAccount” does this. By default this is set to 100, that is; 100% of your account is allocated to Ichi. If you set this to 10% and your account is funded with $10,000, this would mean that the base lot size is calculated on 10% of 10,000, which would be $1,000, which is a 0.01 lot size.

You can lose more than your percentage allocation.  This is because “PercentageOfAccount” does not control overall equity loss, just the amount money allocated to determine the base lot size allocated to the EA.

Configure the maximum amount of capital to risk. You can control how much of your capital is at risk by changing “UseMaxCapitalStop” to be true and set the “MaxCapitalToRiskPercent” to be the maximum amount of capital you’re prepared to lose.

It should be noted that the EA can be exposed to significant drawdown, sometimes exceeding 30%. This can be due to adverse market conditions such as a trending market. At times, there may be open, unrealised negative positions that will continue to be built into, and can be held by the EA until the market comes into a range that is suitable for the program to exit. Please take this into consideration when setting the configuration to ensure you are comfortable with the risk parameters.

Other Measures That Can Be Taken in Controlling Risk

You have the option to remove the EA when there is a big trend in one direction that shows little to no retracement.

Set the EA to only trade in the dominant trend. This needs to be done manually. A way to do this is to look at the AUDUSD 4H chart and observe the dominant trend for the last three days. Then set the EA to only trade in this direction, update this every time there is a different dominant trend.

Recommendation

Ichi has been programmed to make profit from sideways market conditions and therefore Ichi cannot always be profitable.  If there are large movements in the market, you could lose a lot of your money, potentially all of it.  We highly recommend to our clients to try and return as much profit in the least amount of time. This means only allocating money you’re prepared to lose and setting the risk level to 5. Then regularly take profit once it’s made.


Ichi Scalper - High Performing EA
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