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FarhadCrab1 Forex Robot - Expert Advisor (EA) for MT4
Explore the potential of the FarhadCrab1 Forex Robot, a powerful Expert Advisor (EA) designed for MT4. With the filename 'FarhadCrab1 showingequity maxpos SL BACKTESTONLY.mq4', this EA has undergone rigorous backtesting to demonstrate its performance. Compatible with various brokers, including LQDFX and FXOpen, it promises versatility across different trading environments. Elevate your trading experience with this reliable Forex EA and unlock new possibilities in the dynamic world of currency trading.
FarhadCrab1_showingequity_maxpos_SL_BACKTESTONLY.mq4 16.65 kb, 33 downloads since 2015-04-28
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hello ..Who can explain how to use this EA, thank you
This EA is designed to operate in the Forex market within the MetaTrader 4 (MT4) platform. Its primary goal is to automate trading decisions based on a predefined set of rules. Let's discuss the strategy and approach:
1. Take Profit and Stop Loss: The EA allows you to set Take Profit (TP) and Stop Loss (SL) levels. TP is the price level at which the EA will automatically close a profitable trade, while SL is the level at which it'll close a trade to limit potential losses. The recommended TP and SL values here are 10, but you can customize them according to your risk tolerance.
2. Magic EA Identifier: The "magicEA" identifier permits you to run multiple instances of this EA with different settings on the same MT4 platform, making it versatile for various trading scenarios.
3. Trailing Stops: The EA incorporates trailing stops to lock in profits as the market moves in your favor. You can set the trailing stop distance, allowing you to secure gains as the price advances.
4. Position Customization: This EA provides flexibility in customizing position sizes (Lots) to align with your risk management strategy. Just be mindful of your available margin when adjusting this value.
5. Trading Pairs and Colors: Different colors are assigned to various aspects of trading, making it easy to differentiate positions. Blue for opening a Buy position, Aqua for closing a Buy, Red for opening a Sell position, and Violet for closing a Sell.
6. Margin Considerations: A crucial aspect is managing your account's free margin to ensure you have sufficient funds available to open and maintain positions.
7. Trading Conditions: The EA is designed to execute Buy positions when specific conditions are met. For instance, it may consider market conditions, such as the current price relative to a particular moving average or other indicators, before entering a trade. The same goes for Sell positions.
In essence, this EA aims to automate the process of entering and exiting trades based on pre-established conditions and risk management settings.
FarhadCrab1_showingequity_maxpos_SL_BACKTESTONLY.mq4 16.65 kb, file has never been downloaded.
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