Warning: EA works only with ForexFS broker. You need to open account via our link In this case your comissions will be $5 instead $7
Pips Collector EA with Hedge is a high-frequency EA, best suited in range trading markets with medium volatility. It uses a mix of scalping and dynamic hedging techniques. This EA works 24 hours, but it is recommended to adjust settings before and during critical economic releases that could cause extreme volatility, namely Non-Farm Payrolls or Central bank interest rate announcements. The EA can be run for a short period of time, but best results are achieved from continuous trading without interruption.
- Currencies: EURUSD, AUDUSD, USDJPY, GBPUSD, USDCAD, NZDUSD, EURGBP and EURJPY
- Recommended: (AUDUSD and EURUSD)
- Time Frame: Any
- Using Indicators: No
- Recommended Trading Time: Monday 00:00 – Friday 19:00 GMT
- Risk: Minimal to Extreme (dependent on chosen settings)
- Minimal Deposit: $3,000
- Concept: Scalping with hedging
- Money management: Stop Loss and Take Profit on Account Equity Basis. Single click Close/Delete all and stop EA.
Guideline to input settings for the EA are as follows:
Max Equity to Stop EA: Set the equity level when your profit target has been reached to close all trades and de-activate EA
Min Equity to Stop EA: Set the equity level when your stop loss target has been reached to close all trades and de-activate EA. ( This is an important setting, so to protect from losses in case of unexpected event that creates unforseen market volatility).
Order Lot: Set the size of the order lot. Based on 10,000 Account the risk levels are as follows: Low = 0.03-0.05 lot, Medium = 0.06-0.09 lot, High = 0.10-0.13 lot and Extreme = 0.14-0.20.
Order_tp: Set the take profit level on open orders. 3-4 pips is recommended for the above risk levels. In times of increased volatility, Take profit orders can be increased on the go which is recommend i.e. through key data release it is recommended to increase to 7-10 pips
Order_step: Set the level for buy or sell pending orders. 5 pips is recommended for the above risk levels. In times of increased volatility, pending orders can be raised on the go which is recommend i.e. through key data release it is recommended to increase to 20-30 pips
Please note: On the above two settings (Order tp & Order step), once volatility subsides after a data release/event, then its recommended to reduce pip setting back to normal levels.
Live Account Monitoring
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS