Forex trading can be an extremely lucrative business, but it can also be very risky. Many traders are turning to automated trading advisors or Expert Advisors (EAs) to help them trade the markets. One such EA is the Forex Averaging Down EA, a conservative advisor with 14 years of experience.
This EA is designed to provide the best results on the EURUSD pair, but it can also be adjusted for any other instrument. It uses a timeframe from m1 to m15, making it suitable for both short-term and medium-term trading.
The Expert Advisor trades using the averaging method, smoothly and safely increasing the volume. This means that it will gradually add to a losing position, with the aim of reducing the overall average entry price. To direct the trade, the EA uses candlestick analysis, a popular and effective method of technical analysis.
When using the Forex Averaging Down EA, it is recommended to use 0.01 lots for every $1500-2000 of trading capital. This is a conservative approach that will help to minimize risk. To further reduce risk, it is advised to change the step after 4 trades by 300 pips and after 6 trades by 500 pips. This will help to limit the potential drawdowns.
In summary, the Forex Averaging Down EA is an excellent choice for traders who want to automate their trading in a safe and conservative way. With its 14 years of experience, it has a proven track record of success. So if you’re looking for an automated trading advisor, consider the Forex Averaging Down EA.