ForexKingle EA: A Scalper Robot for Short-Term Trends

Overview

The ForexKingle EA is a fully automated scalper robot  It specializes in trading short-term trends and aims for consistent profits. Here are the essential details:

1. Strategy and Trading Pairs

• Strategy: The EA identifies short-term trends and executes trades accordingly.
• Optimized Pairs: The ForexKingle EA performs best on the following currency pairs:
  • EUR/USD
  • GBP/USD

2. Minimum Deposit

• Recommended Minimum Account Balance: $100 (or higher for better risk management)

3. Time Frames

• Optimized Time Frames: M1 (1-minute) and M5 (5-minute)
• Additional Testing: You can also test the EA on other time frames to find the best fit.

4. Performance Statistics (Demo Account)

• Gain: +40.27%
• Monthly Profit: +3.61%
• Drawdown: 15.79%
• Profit: $4027.02

5. Expert Advisor Input Parameters

• Adjust these settings to fine-tune the EA’s behavior:
  • Start and End Hour: Define the trading window.
  • Lots: Set the position size.
  • Stop Loss and Take Profit: Manage risk and reward.
  • Cycle: Control trading frequency.
  • Magic Number: Unique identifier for trades.

6. Installation Steps

1. Open Metatrader 4.
2. Click File > Open Data Folder.
3. Navigate to the MQL4 folder.
4. Inside the Experts folder, place the ForexKingle.ex4 file.
5. Restart Metatrader 4 and attach the EA to your chart.

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀

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Additional Resources: 

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