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EA TheoFX
Hello all, this is a profitable EA TheoFX.
Minimum trade is $100.
Settings with No Stop Loss.
Take profit set to 50pips.
Trailing stop in 10pips.
Max order = 6.
Be careful of a high DD. But backtested with 99% tick data. Profit for 10 years and return is around $10,000++.
TheOFX.mq4 7.08 kb, 172 downloads since 2019-05-13
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TheOFX EA!
TheOFX EA's strategy is primarily based on pending orders and risk management:
It monitors the market for suitable trading opportunities based on the specified PipStep and the market's movement.
It calculates the optimal lot size for each trade based on the chosen settings, including risk percentage if enabled.
The EA places pending buy and sell orders with Take Profit and Stop Loss levels as per your settings.
As the market moves, the Trailing Stop feature helps maximize profits by adjusting the Stop Loss level in the direction of the market.
The EA respects the Max Orders setting to avoid overexposure to the market.
Adjustable parameters:
Take Profit: This parameter sets the price level at which the EA will automatically close a trade to secure a profit.
Stop Loss: It determines the price level at which the EA will close a trade to limit potential losses. In your case, it's set to 0, meaning no Stop Loss is used.
Magic Number: The Magic Number is a unique identifier assigned to each trade. It helps the EA distinguish its own trades from others if you're using multiple EAs on the same trading account.
PipStep: PipStep controls the spacing between pending orders. It specifies the distance between new orders placed by the EA as the market moves.
Max Orders: This parameter sets the maximum number of orders the EA can open simultaneously. It helps manage risk by controlling your exposure to the market.
Trailing Stop: The Trailing Stop feature allows you to lock in profits as the market moves in your favor. It dynamically adjusts the Stop Loss level to follow the market price, securing gains and protecting against reversals.
TimeToWait: TimeToWait is a waiting period between trades in minutes. It prevents the EA from opening new positions too quickly, especially during volatile market conditions.
Lots: Lots determine the size of your trades. You can adjust this based on your risk tolerance and account size. A higher lot size means larger positions and potentially greater risk.
UseRiskPercent: When enabled, this setting calculates the lot size based on a percentage of your account balance, providing a dynamic approach to risk management.
Risk Percent: This parameter specifies the percentage of your account balance that you're willing to risk on each trade when UseRiskPercent is enabled.
Using this EA requires caution, particularly if you decide to turn off the Stop Loss feature.
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