DOW and DAX Forex EA Forex Robot
DOW and DAX Forex EA Forex Robot is a powerful & exciting Index EA for MT4 that trades US30, also known as the DJ30, Dow Jones Industrial Average (DJIA), Dow30, and DE40 (aka DAX40/GER40) Index. It works based on breakout strategies to trade the first few hours of the European session.
Index trading is quite different from spot FX; it requires a more specialized skill set due to the higher number of variations. Backtesting Indices are not as straightforward as FX, as many brokers use a different number of digits after the decimal point. Some quote spot rates, some futures prices, some have expiry dates, and others do not.
For example, the DAX can look like 14534.00 or 145.34, or 14534.0, making many quote variations for the same trading instrument. In addition, EA works at a specific time of day(the default preset is for GMT+2), and broker time can change from broker to broker you need to adjust EA trading time. For this reason, make sure to check your broker quote and time.
Every simple trade DAX40 EA opens is protected by a fixed stop loss of around 25 points, and it only opens a Maximum of 5 trades daily. Orders are always closed or deleted by the same day, and never use dangerous trading methods like martingale, layers, grids, or additional averaging positions. Its exit incorporates a trailing stop exit that is triggered by “X” amount of gain points.
Every trade uses the same lot size, which the user defines. Does not use the increasing lots technique. (although Dow30 EA has a recovery function for advanced/experienced EA users) Expert is packed with additional extra control features for expert EA users, like using box stop loss over fixed stop loss, fixed take profit, and increase after loss option. But it is very easy to set up and use for first-time or novices.
Recommendations for DAX Forex EA
Since Margin requirements can differ from broker to broker, the minimum account balance can be 100$ for some brokers and 1000$ for others. (Also, Some brokers use 1.0 lot as $1 per point, and others can use 1.0 lot as $25 per point. )
This Index EA is specifically made to work on DAX and DOW.
DAX is also known as DAX40, GER40, DE40
DOW is also known as US30, DJ30, DOW30
Work Best on M15 TimeFrames. (Work on any TimeFrames)
This EA is traded during Dax open 9 am to 8 pm Frankfurt time. Default settings are for GMT+2 broker time(GMT+3 in SUMMER). If your broker is not GMT+2, it will run at the wrong times, and you need to adjust accordingly.
This Index Forex Robot Robot should work on VPS without interruption on its trading time. So this Hedge Fund EA should run on a low latency reliable VPS (Reliable and Trusted FOREX VPS – FXVM)
Broker with good conditions and spreads on the DAX40/DOW30