Trading with an EA in Forex

I have never recommended you to buy a product through this Blog. But this time I think that this EA (Expert Advisory: an automatic program to trade in mt4/metatrader4 platform) could be useful to many people who´s trading in Forex. I am very happy with it and you can gain so much more than the cost of it. I have used it in a demo account during many months and now in a real account with great success.

First of all: you need to know the basics in Forex and you need to supervise your account, it is not a 100% automatic system.

Many people think that trading with an EA is very risky in Forex. I agree with this people if they use an EA automatically. I have probed a lot of EA,s and I am not satisfied with any of them, except this one.

Think in trading with an EA that will open your trades without your intervention, you only watch and in some circunstances you will need to stop it or close your position if you want, nothing more. But hey!… you are not trading 100% automatically because you must supervise your account and sometimes you will need to stop the EA when the market is chopping. Yes, you can use it automatically but it´s not recommended, you can lose a lot of money if you do that.

This EA will stop (hibernation) when you win your position, you can even set up the EA and leave it running always but it´s very risky, I wouldn´t do that.

With this EA “you don´t need to know if the price will go up or down”, and that´s why it´s great. You only need to know if the pair has enough room to reach the pips that you want to gain. Imagine the benefits if you can say goodbye to a hard analysis, surprises in news, etc.

That´s what I am probing now in a live account with great success after probing it some months in a demo account. I bought this EA 2 months ago and it´s based in a martingale system. Before using the EA you must calculate your risk with an excel template (included with this EA), it´s based in your leverage, the type of account, the necessary funds to trade… and then you can begin trading. You only need 1 pair to trade daily. Of course you can use more than 1 pair but the risk will be higher and you will need more funds in your Broker.

The possiblity to lose in all progressions is “minimum” and you can calculate with the template to lose for example 25% of your account in the worst of conditions, or the percentage of risk that you will be more confortable to trade. I know a veteran trader who is using this EA during 2 years without blowing his account and gaining a lot of money every month (he was trading normally many years and then he only used this EA. He is using it nowadays too as a full trader).

Many people lose in Forex because they think that they can predict where the price will go, but if you are really trading during some time you will know that this is almost impossible with 100% accuracy: Forex is impredictable and you need a good money management, a good risk-reward and being conservative if you want to survive.

Here is when this EA will help you a lot: you can forget to calculate if the price will go up or down.

There are some different strategies using this martingale system, but as I said before it´s not a blind or automatic system. Firstly you need to watch the price action and if the pair have more than 100 (or more) value of ADR (eur/jpy and gbp/jpy are great in this EA and these pairs will give you a great profit). Then, after checking the ADR with the included indicator you open your position when the price reach a support-resistance and when the market is not chopping. You will use 2 indicators to see these values easily (also included and very nice). In fact the EA includes more than 2 indicators but you will only need 2 of them: ADR and Trend & Range.

For example: I am using only eur/jpy (and sometimes gbp/jpy) with SL: 30 and TP:120. I use only 7 progressions maximum and I open a position in this pair when I see an ADR higher than 150, the price reaching a support-resistance and the market not chopping in many different timeframes. In this case with only $300 I am risking about 1% if my first position is closed (-30 pips in 400:1 with Alpari Broker, beginning the progression with 0,01 lot). I wish I had $3000 or $30.000 to use higher lots lol , and it´s easy to make $2 or more dollars daily (it would be $30-$40 monthly: 10% or more profit!!). Well, I am making more dollars daily

I don´t open more than 1 position at once, and my favorite is eur/jpy (it has only 3 pips spread in Alpari and it´s a very volatile pair). I can close this position before touching my TP (120 pips) and stop the EA if I see that I am for example with +50 pips and the price could reverse because it´s touching an important support-resistance in many timeframes and it´s my first progression, or the same case if I will gain a good profit closing this position even discounting the last closed positions in negative. I could leave the position running but that´s why this EA is not automatic and need your intervention. I find very difficult with eur/jpy losing -30 pips seven times in the same day. Test it manually and tell me what you think: when the price reach -30 pips the EA opens a reverse position. If the previous position was long now the EA opens a new position in short with a higher lot (0,02 in this example). Test it manually with the indications posted above (ADR, market not chopping, support-resistance). I am always gaining at the end. Of course you can use 24 progressions if you have enough money and you think it´s the best for you.

You can set up in this EA many values: the spread (not opening a position if the spread is higher than x, useful when there are important news), opening the position at some particular price or time (for example before London market if you want to risk without checking the ADR because before the opening of this Market the pairs move a lot and you are sleeping), the SL and TP, etc. If you lose your internet connection you won´t have any problem with the EA, or if you see the market chopping you can stop the EA and continue later (not opening new positions until you activate the EA again, so less progressions to reach your winning trade). You can also calculate which is the best risk for you with the excel template, very easy. You can also define the progressions to trade and the necessary money and risk with these progressions.

If you trade with a good amount of money you know that you can easily gain, it is “almost” impossible to blow your account if you follow the advices posted above and finally you will gain the position. If you could lose all the progressions because you traded blindly you know that you will only lose the percentage that you risked.

This EA is not free and when you buy it you will receive 1 EA with the number of your demo account and another EA with the number of your real account.

Yes, you will think that a martingale system is almost a suicide trading in Forex, but you are not trading blindly, you need to know a bit about Forex and stopping/closing/supervising the EA/position, as if you were trading normally, but this EA will make your trades more relaxed and will save your time: only watch the charts and the results from time to time. I must tell you that I am very happy and relaxed with it.

if you are interested in this EA email me and I will give you the details. I am not responsible in how you will use this EA. Many people could use it blindly and lose his/her money. That´s why you need to define your level of risk before.

You can ask me all your doubts about the use of this EA. It´s not my EA, I am only an intermediary but I think that it will be very useful to you.
Probe it in a demo account before trading live.