Forex Fraus Trade Monkey
The Expert Advisor of the Forex Fraus series. The system is designed for scalping the EURUSD H1 (for five-digit quotes) and adapted for the accounts with fast execution of orders.
How It Works
- When a signal is received, the orders are opened by accumulation using tick data.
- The EA works only on H1. The robot does not apply indicators and other analytical systems. The signals are calculated using H1 chart processing results.
- Positions are closed by Trailing Stop or RiskStop (triggered automatically if the market conditions have changed).
- Not closed positions are closed at the opposite trade
- Built-in adjustable risk management block. Depending on the balance, it monitors the size of the executed order, distributing risks.
- The EA features the cold start block. In case of a small balance, the EA automatically manages the number of opened positions relative to the risk management block data, as well as regulates the lot volumes depending on the balance to reduce the risk. After passing the risk-free trading level, the block is automatically disabled.
- Download the free copy of Forex Fraus Trade Monkey.
- On your MT4 platform, go to Tools > History Center.
- Download the history of EURUSD quotes. Attention: for a more accurate testing, go to your broker's site and download the history for EURUSD H1 (for example, one year long).
- Open the strategy tester and choose the time interval to start testing.
- Select H1 timeframe.
- Select "Every Tick" mode.
- Set spread no more than 10 points, or the current if it fits within the range. Usually, for this pair it is 5-8 points (for five-digit quotes);
- Start the backtest.
- Launch the EA on EURUSD H1
- Allow trading
Very important: the EA does not work together with other Expert Advisors on the same symbol, as the operation algorithm gets interrupted. So, make sure there are no Expert Advisors in other windows!
Optimization note: All default settings are designed for EURUSD H1. If you want to use the robot on other currency pairs, be sure to test the EA in the tester before use.
Trading tip: the EA signals do not come often (this can be seen from the tester data). This should not be feared, many people might think that the EA stopped working. However, this is not the case (it can be silent for about a week). Later it is compensated by an order injection once the signal arrives. Therefore, I recommend placing the robot on a virtual server, as the EA is recommended to trade 24/7.
Data variables of the EA settings
- SL - stop loss
- TP - take profit
- TrailingStop - trailing stop
- UseSound - sound of Trailing Stop triggering (enabled/disabled)
- NameFileSound - name of the sound file
- RiskPercent - risk in percent (lot size is calculated based on the account balance)
- maxLots - maximum lot used during the calculations of the risk management block
- minLots - minimum lot used during the calculations of the risk management block