Pirate EA V2.56: The Ultimate Night Scalper for Forex Trading
Key Features of Pirate EA V2.56
Welcome to the detailed guide on Pirate EA V2.56, an advanced Expert Advisor designed to optimize your trading during low volatility periods. This blog will cover everything you need to know about Pirate EA V2.56, including its minimum deposit, recommended timeframes, currency pairs, and trading strategy. Additionally, you can join our Telegram community here and download the EA from our website here.
- Minimum Deposit: $300
- Timeframe: M15 (15-minute chart)
- Currency Pairs: EURAUD, CHFJPY, EURCHF, EURGBP, AUDCHF, CADCHF, USDCHF.
Strategy Overview
Pirate EA V2.56 employs a “night scalper” strategy, focusing on trading during periods of low market volatility after the New York session ends at 22:00 GMT. This strategy avoids risky money management methods like martingale, position averaging, and grid trading, making it a reliable and safe option for traders.
How Pirate EA V2.56 Takes Trades
- Market Analysis: Pirate EA V2.56 monitors price levels using several indicators to identify optimal trading opportunities.
- Trade Execution: It opens trades based on algorithmic analysis during low volatility periods.
- Trade Management: The EA carefully manages trades until they close with a profit or a small loss.
Detailed Breakdown
Minimum Deposit
- Amount: $300
- Purpose: Ensures sufficient capital to manage trades and withstand market fluctuations.
Timeframe
- Recommended Timeframe: M15 (15-minute chart)
- Reason: Provides a balance between capturing short-term price movements and avoiding excessive noise.
Currency Pairs
- Recommended Pairs:EURAUD, CHFJPY, EURCHF, EURGBP, AUDCHF, CADCHF, USDCHF
Trading Strategy
- Night Scalping: Focuses on trading during low volatility periods after the New York session.
- Indicators Used: Multiple technical indicators to monitor price levels and identify trading opportunities.
- Risk Management: Avoids dangerous methods like martingale and grid trading.
Customization Options
- Trade Size: Choose between fixed trade size or percentage-based risk allocation.
- Profit Targets: Set fixed pips values or trailing stops.
- Stop Loss: Set stop loss in pips to restrict downside risk.
- Deal Filtering: Apply filters to avoid trades during periods of excessive spread or swap.
- Trade Volume: Scale position sizes up following a series of winning trades.
- Notifications: Enable email, push notification, and sound alerts for key events.
- Scheduling: Define specific hours for the EA to start and stop trading each day.
Backtesting Performance
- Historical Data: Confidently passes 21-year tests with default settings.
- Optimization: Perform optimization for each pair separately to achieve better results.
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