The Forex Armor EA is a fully automated trading system designed for Metatrader 4 (MT4). Let’s delve into its features and strategy:
Strategy:
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- The Forex Armor EA utilizes price action signals and Double OsMA for its trading decisions.
- It is designed to work best on higher timeframes.
- The EA doesn’t trade frequently, averaging 1 to 3 trades per week.
- Notably, if a trade goes against it, the EA opens an additional order for averaging.
- Unlike traditional martingale strategies, Forex Armor EA employs the grid method, allowing a maximum of five trades at once (adjustable via input parameters).
- Orders are typically in the market for a short period, around 1 to 3 days.
Currency Pairs and Timeframes:
- Forex Armor EA performs well on currency pairs such as EURUSD, GBPJPY, and GBPUSD.
- It is optimized for H1 and H4 timeframes but can work on any timeframe.
- For stable results, the EA should run 24/7, preferably on a forex VPS.
- Using a low-spread ECN account (e.g., IC Markets) is recommended.
Risk Considerations:
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- While the grid method is employed, traders should exercise caution, as this strategy can be risky.
- It’s advisable to test the Forex Armor EA in a demo account for at least a week before using it in a real account.
Remember that automated trading systems carry inherent risks, and thorough understanding and testing are crucial before deploying them in live trading environments. 📈💡
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