Gecko EA v1.2 for MT4: A Breakout Trading Strategy

Introduction

The Gecko EA v1.2 is an Expert Advisor (EA) designed for MetaTrader 4 (MT4). It employs a straightforward yet highly effective strategy that capitalizes on breakouts. In this article, we’ll delve into the key aspects of this EA, including its trading approach, recommended settings, and where to download it.

Strategy Overview

The Gecko EA v1.2 focuses on identifying significant recent highs and lows in the price chart. When a breakout occurs, it enters trades with precision. What truly sets this EA apart is its advanced execution algorithms, ensuring optimal entry and exit points.

Key Features

• Proven Strategy: The Gecko EA v1.2 utilizes a battle-tested approach.
• Strict Risk Management: No risky techniques like grid or martingale; it employs a safe stop loss.
• High Hit Rate: Over 80% of trades are profitable.
• Correlation: Live trades closely match backtest results.
• Recommended Pair: While developed primarily for EURUSD, it shows promise on other pairs as well.
• Timeframe: Recommended timeframe is H1.
• Minimum Account Balance: Start with at least $100.

Trade Management Techniques

The EA incorporates several trade management techniques:

1. Trailing Stop Loss (SL):
   • Trailing SL based on recent highs/lows.
   • Option to run until breakeven level.
   • Duration-based trailing SL.
2. Lot Size Settings:
   • Choose lots based on balance or risk per trade.
   • Low Risk: Use Lots Per Balance = 200 or higher.
   • Medium Risk: Lots Per Balance = 100.
   • Aggressive Risk: Lots Per Balance = 50.
3. Virtual SL:
   • Conceal SL location from the broker.

Conclusion

The Gecko EA v1.2 combines simplicity with sophistication, making it an excellent choice for breakout traders. Remember to test it on a demo account before going live, and always manage risk wisely.

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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