- Minimum Deposit: Start with a modest account balance of $200.
- Timeframes: The EA is adaptable and works on both M1 (1-minute) and M5 (5-minute) charts.
- Recommended Currency Pairs:
- GBPUSD
- EURNZD
- EURAUD
Strategy Overview
The Forex Mission EA employs a dynamic strategy that combines multiple filters and indicators to make informed trading decisions. Here’s how it operates:
- Scalping Strategy (M1 Timeframe):
- Entry Criteria:
- The EA identifies short-term price fluctuations.
- It looks for rapid price movements and quick profit opportunities.
- Scalping trades are executed when specific conditions align.
- Risk Management:
- Tight stop losses and take profits are set to minimize risk.
- Position sizing is adjusted based on account balance.
- Trailing stops protect profits during favorable moves.
- Entry Criteria:
- Swing Strategy (M5 Timeframe):
- Entry Criteria:
- The EA focuses on medium-term trends.
- It waits for pullbacks or retracements within the trend.
- Entry occurs when price confirms trend continuation.
- Risk Management:
- Stop losses are wider to allow for market fluctuations.
- Take profits aim for larger gains.
- Trailing stops lock in profits during sustained trends.
- Entry Criteria:
- Customization and Source Code:
- Traders can modify the EA’s logic using the provided source code.
- Experiment with different indicators, timeframes, and risk settings.
- Transparency ensures full control over strategy adjustments
Remember, trading involves risk, and past performance is not indicative of future results. This bot could be your ticket to success—so trade wisely and soar in the Forex world!
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