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FXRobot MT4 EA

$16.98

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Specs

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Description

The FXRobot EA is a trading robot that combines traditional market analysis methods with a unique approach to data evaluation. Developed with algorithms focusing on indicators, price movement, and bar analysis, it aims to support trading orders through a blend of standard and innovative strategies.

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Key Features of FXRobot EA

  1. Algorithmic Trading:
    • Core functionality relies on algorithms that open 1-2 orders based on market signals, striving for profitable closures.
  2. Order Management:
    • Activates a strategy to find an exit if orders fail to meet profit goals promptly, potentially closing orders at a small profit, minor loss, or breakeven.
  3. Risk Management:
    • Support algorithm is activated in scenarios where orders remain open for an extended period, facilitating the expedited closure of orders in profit and preventing lingering minor drawdowns.
  4. Drawdown Control:
    • Advanced drawdown control system calculates StopLoss for all orders, ensuring that the drawdown does not exceed a specified level. Promoted as a safer and more reliable alternative to manual market closings.
  5. Multi-Currency Operation:
    • Programmed to work with four currency pairs – USDCAD, EURGBP, GBPUSD, and EURUSD – providing versatility and optimization options for various currency pairs.

Concerns and Risks

  1. Drawdown Talks:
    • Despite claims of low risk, concerns exist within the trading community, particularly regarding drawdown. The support algorithm, potentially a form of martingale strategy, raises apprehensions about its risk management effectiveness.
  2. Martingale Strategy:
    • The use of martingale strategy, if confirmed, carries inherent risks. This strategy involves increasing stakes after a losing bet, which can lead to substantial drawdowns if not managed properly.
  3. Risk Misrepresentation:
    • Claims of low drawdown and low risk might be misleading, especially if the martingale strategy is being utilized. The “watered-down” explanation in the developer’s description may be a tactic to downplay potential risks.

MT4 EA FREE Recommendations

  • Minimum Account Balance:
    • USDCAD – $300
    • EURGBP – $530
    • GBPUSD – $470
    • EURUSD – $750
  • Optimal Currency Pairs:
    • FXRobot EA is recommended to work best on USDCAD, EURGBP, GBPUSD, and EURUSD but can be optimized for any currency pair.

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