The Ichi Scalper Version 1 VS Ichi Scalper Version 2
There are a number of fundamental differences between ICHI Scalper Version 1 and ICHI Scalper Version 2
Ichi Scalper 2.0 uses less drawdown - doesn’t do more than 5 trades and doesn’t use exponential lot size growth like the current Ichi Version 1.
Greater returns than Ichi Scalper Version 1
Bug fixes to lot size
Better risk to reward
Less chance of blow out - Ichi Scalper Version 1 had a 50% chance of blowing out per year, Ichi Scalper Version 2 has a 20% chance of blowing out account per year
Over double the return compared to Ichi V1
Only 4 risk levels - the extreme level in Ichi Scalper Version 1 was too extreme. Extreme in Ichi Scalper Version 2 is more reasonable risk to reward
Supports Ichi Scalper Version 1 flag if you prefer Ichi Scalper Version 1 - Ichi Scalper Version 1 mode is significantly better than the original Ichi.
Some helpful trading stats on Ichi Scalper Version 2
Wins 90%+ of trades in short and long
Average trade length is 1.5 days, with the rare trade of 32 days over the last 2.5 years
Average consecutive wins is 17
Average consecutive losses is 1
Max consecutive wins over last 2.5 years is 55
The Ichi Scalper Version 2
Developed by professional currency traders with over 60 years of combined experience, the Ichi Scalper integrates one of the world’s best trend detectors with cutting edge Machine Learning mathematics to develop real returns that will help you realize financial freedom that 0.15% of the world has achieved.
The Ichi Scalper is a real world EA. It does not require unrealistic spreads and slippage to produce results. It is not designed to make 1000% returns in a week. It has consistently performed extremely well in sideways markets over long periods of time.
Where to Buy?
IchiFX has negotiated an agreement with SynergyFX to provide the best execution and spreads for the Ichi Scalper. In order to run Ichi, if you haven't already opened an account with SynergyFX please follow the link here:
Once the account is funded, the Ichi Scalper EA costs $97 which is withdrawn from your Synergy Account.
Ichi Scalper Performance
You can follow Ichi’s Performance by clicking on the Graph below (Note: The performance below is using the most conservative EA setting. Higher settings will significantly increase your return but also increase the account drawdowns).
Ichi is 5-minute scalper robot that makes money in sideways markets. It takes advantage of markets that are bound between a range and/or don’t trend long distances before some retracement.
Most of the time the market is ranging. The sideways trend is also known as a trendless, ranging or flat market. Though similar to the other two types, the sideways trend shows no major difference in the price values between the beginning and the end of a specific time period. The sideways trend denotes market conditions in which prices may be moving back and forth between levels of support and resistance.
Prices move up and down, showing no trend. (Bound in a range above)
Notice how price returns the previous price – sometimes called a ‘whipsaw’ market.
What Currency does Ichi Run on?
Ichi runs on the AUDUSD currency pair and needs to run on the 5-minute chart.
Why the AUDUSD currency?
There is a strong reliance for currencies to exhibit strong sideways behaviour there needs to be fundamental reasons why people/countries/companies need to convert money between AUD→USD and USD→AUD. Strong reliance on each other’s currencies mean they cannot drift a large number of pips away from each other, hence there are ideal conditions for sideways movement.
We performed advanced predictive analysis using; neural networks, statistical learning and Bayesian networks. During this analysis we found that out of the 27 currency pairs, the AUDUSD shows the most sideways movement. We also found a startling point that is advantageous to this EA, when the AUDUSD does trend, there is a 91% chance of retracement. (This 9% is a significant risk that should not be ignored. There are times during the last year that this lack of retracement would have blown your account if no risk aversion were taken.)
After studying the AUDUSD for over 1024 weeks, there is only an 8% chance that the AUDUSD will move over 300 pips in one direction after a week.
AUDUSD - There is only an 8% chance it will move 300 pips in a trend direction. This means 91% of the time it's sideways.
Compare this to:
With the EURUSD there is over a 30% chance moving in a strong trend (not sideways). EURUSD can be up to 7 times more volatile (means larger moves) in the day, then the AUDUSD during the day.
This is the type of market that Ichi needs to be able to reap large profits should the market stay sideways. To reduce the risk of losing money on other currencies, Ichi is configured to only run on the AUDUSD.
(Please note: If the AUDUSD is strongly trending, then do not run the EA. Or run it with trading only in the direction of the trend. If you have trades outstanding and want to close the trades, then use close trade property, or enable Equity protection and set this to a percentage you are willing to lose)
During a big data analysis, it was found that the 5-minute time frame had the best determination of a sideways market.
Any time above 15-minute is only ideal for trending and not recommended for sideways markets.
How does Ichi Work?
Ichi opens a trade in a direction determined by the EA predictive engine. If the trade doesn’t reach a take profit and the market moves in the wrong direction, then Ichi adds another trade. Ichi performs up to five add-on trades with the same lot size as the first trade. If at anytime a trade is added and the basket of trades reaches a take profit, then the trades are closed. In most cases Ichi makes profit with these trades. The EA determines if the overall profit for these five trades is reached, then the trades are all closed.
As you can see from the picture in a sideways market the price will go up and down and return to near the previous price-point. This EA takes advantage of the ‘whipsaw’ effect to make profitable returns.
The trade size is growth is shown in the table:
||Lot Size (Risk level 2, $10,000 account)
||Total Lot Size Open
So when the market trends a large distance away from the direction needed by Ichi, this can cause a large drawdown. In a sideways market, this drawdown is temporary; in a strong trending market this may cause excessive drawdown/loss of large amount of account balance.
The base lot size is determined by a formula:
Your account balance (or % of account balance is this feature in the EA is selected) is divided by 1,000 and finds the closest number to this and multiplies it by 0.01. For example; say you had 15,000 dollars in your account. This would equate to (15,000/1000)*0.01 = 15 * 0.01 = starting lot size of 0.15. For every thousand your balance increases or decreases the lot size will be increased or decreased accordingly.
The base lot size is increased or decreased by the Risk Level Settings.
||Possible Return (Yr)
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 $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.
This Percentage Of Account 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.
To set the Maximum amount of Capital to risk; Then you need to set the UseMaxCapitalStop to be true and set the MaxCapitalToRiskPercent to be the maximum amount of capital your willing to lose.
It should be noted that the EA needs between 20 and 30% drawdown to operate normally, making this value less than 20% or 30% will significantly impair the EA from making profit and will probably cause a loss that would otherwise been a profit.
PLEASE NOTE : Ichi_AUDUSD_5M_55 and later is needed to have these risk reduction features.
Other measures that can be taken in controlling risk
You can remove the EA when there is a big trend in one direction that shows little to no retracement.
You can 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 for how to make money with Ichi
Ichi is made to make profit from the current market conditions when the market is sideways. How long this will last is unsure – it could be months, weeks or days. This bot cannot always be profitable; there will be approximately 10-12 days a year that will cause this EA to lose a lot of your money. So a simple way to make money is to try returning as much profit in the least amount of time. This means allocating money you’re willing to lose in a separate account and setting the risk level to 5. Then regularly take profit from this EA every time it makes profit.
Ichi needs a dedicated computer
Due to the nature of Ichi having trades for over 1 day and needing to possibly add trades to return profit, Ichi should run on a dedicated computer or on a hosting provider (VPS).
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