I often get the question, which is the best EA?
or, which EA do you recommend?
I write this article to answer your question and give you much more!
In fact, the answer changes, as you have preferences and you definitely want a certain type of EA instead of another -> Aggressive or conservative, risky etc ...
Another excellent broker is: http://bit.ly/broktic
Remember that EA MT5, wrote MT5 in the title, and all the others, only work on MT4
For now, I have created 3 types of EA
Each type of EA has its advantages and disadvantages, below I will list the types and their characteristics
Table of Content
this is the most aggressive category, these EAs open trades very frequently, this involves high risks and potential high profits (or loss)
Pro
- Large number of trades
- high profit potential in a short time
- 100% customizable, you can edit and improve the strategy from the settings you can also adapt it for other pairs and timeframes
- Low initial capital (also from 100 usd)
- Each EA contains multiple strategies, selectable at the top
- Real Account Tracking
Cons
- Large number of trades (can also be a disadvantage)
- high risk, you can lose part or all of your capital quickly
- Aren’t set and forget -> it is important to work on EAs for testing and demo
Tips
- The main suggestion is to use this type of EA in a separate account from your main account
- Withdraw profits often (even once a week)
- Use only money you can lose
Recommended robots in this category:
You can find all my EAs and live signals here: https://www.mql5.com/en/users/michelarusso80/seller
"Scalper Pro" EA
this is another aggressive category, but these EAs open trades only during set file times, These EAs carry a Medium-high risks and potential Medium-high profits (or loss)
Pro
- high profit potential in a short time
- 100% customizable, you can edit and improve the strategy from the settings you can also adapt it for other pairs and timeframes
- Fix Virtual Stop Loss and Virtual Take Profit
- Low initial capital (also from 100 usd)
- Each EA contains multiple set files, for each recommended pairs, remember to ask the author before starting
- the operations are multiple, but the lot is never increased
- Possibility of backtesting from 2018-2019 to today -> Backtest tutorial: https://www.mql5.com/en/blogs/post/735144
- Real Account Tracking
Cons
- Multiple orders at the same time
- medium-high risk, you can lose part or all of your capital, if you don't use adequate risk
- Aren’t set and forget -> it is important to work on EAs for testing and demo
Tips
- Withdraw profits often (even once a month)
- Use only money you can lose
- Always keep the platform open 24 hours at day, recommended Vps provider: https://bit.ly/chocovps 1 minut tutorial which explains how to connect to the VPS https://youtu.be/Km6EpWBVBGE
Recommended robots in this category:
Dragon Scalper Pro
Link: https://www.mql5.com/en/market/product/45197
Shark Scalper Pro
Link: https://www.mql5.com/en/market/product/45892
Eagle Scalper Pro
Link: https://www.mql5.com/en/market/product/46147
You can find all my EAs and live signals here: https://www.mql5.com/en/users/michelarusso80/seller
"Trader Pro" EA
this is a Conservative category, these EAs open trades only when certain conditions of the strategy coincide, about 1-3 trades per day (but it varies from EA to EA obviously), These EAs carry a Low risks and potential low-medium profits (no more than 5-10% at month)
in most cases the stop loss is set in cash
Pro
- Low Risk
- Set and forget -> little maintenance is needed, only monitoring, the strategy is already defined -> no need set files
- Fix Stop Loss in money and Virtual Take Profit
- Emergency closures
- They are my favourites
- Easy to set up multiple EAs in 1 account
- Low sensitivity to spreads, slippage and market conditions
- Possibility of backtesting from 2003 to Today -> Backtest tutorial: https://www.mql5.com/en/blogs/post/735144
- Real Account Tracking
- Real Account Tracking with multiple EA Combinations
Cons
- high initial capital (usually 2000 or more)
- Multiple orders at the same time
- Patience needed, medium-long term investment
- Some internal settings cannot be changed -> the strategy is secret to the user
Tips
- Calculate your risk when setting up the robot
- Enable "Sqrt lot" if your capital is greater than 8000 usd or equivalent
- Always keep the platform open 24 hours at day, recommended Vps provider: https://bit.ly/chocovps 1 minut tutorial which explains how to connect to the VPS https://youtu.be/Km6EpWBVBGE
Recommended robots in this category:
Fox Trader Pro
Link: https://www.mql5.com/en/market/product/46790
Monkey Trader Pro
Link: https://www.mql5.com/en/market/product/46943
Camel Trader Pro
Link: https://www.mql5.com/en/market/product/47891
Koi Trader Pro
Link: https://www.mql5.com/en/market/product/46617
Lion Trader Pro
Link: https://www.mql5.com/en/market/product/47370
Crocodile Trader Pro
Link: https://www.mql5.com/en/market/product/47007
You can find all my EAs and live signals here: https://www.mql5.com/en/users/michelarusso80/seller
Do not hesitate to contact me for questions or support, on mql5 message or by email at professionaleas@gmail.com