Ultimate Pips Recovery
Ultimate Pips Recovery (UPR) is a unique, high quality and affordable trading tool, which is easy to use because knowledge of Forex trading is not much required to use this Expert Adviser. UPR does not require a specific time frame because it uses the technique that at every point, market will either go bearish or bullish. It opens a trade(say a buy trade) and immediately opens a sell stop position with a higher calculated lot size whose take profit is the same as stop loss of the previous opened buy trade and it's stop loss is the same as the take profit of the previous opened buy trade. If market goes bullish it hits the take profit and exits the trade for the day. If it goes bearish, it hits the sell stop trade and immediately opens a buy stop position in the same position as the first trade with the same parameter as that of the first trade but with a higher calculated lot size to compensate for the same take profit. It continues in this way, until it hits the take profit stop loss which gives us our target.
It's designed to open a trade with a lot size of 0.005% of your equity to minimize risk to the minimum possible level though it can be modified to values below or a little higher depending on your daily target. 0.005% of your equity yields 1.5% of you equity per day. It's advised not to set the lot size to any value, leave it to trade automatically.
UPR has a SPACING parameter which is equal to take profit and the distance(in pips) of the next pending order to be opened. Spacing can be changed to any desired value but the default is 30. The stop loss is twice the take profit. It's best traded on GBPUSD, EURUSD or USDJPY because market moves more than 80 pips on those pairs daily. Our daily target is our spacing which is equal to the take profit(30pips by default). If it goes contrary to our direction, and moves 60 pips opposite, we still take our profit. In either direction, it must hit our take profit daily as the the minimum market movement is 80pips. For Long time Traders, SPACING can be increased to any value depending on your target but it might not hit your take profit daily. It opens a trade with respect to your Local GMT time, select the appropriate LocalGMT time while attaching it to the your trading terminal because the expert starts a trade during the European session which it's time depends on your Local(Country) time GMT shift.
NB: It's advised for the Exert to be removed during holidays like Easter or Christmas period because market don't move well during those periods and again this EA does not guarantee profit.
- SPACING - Equivalent to the take profit and also to the next pending sell stop/buy stop. The minimum is 20 SPACING.
- GMT - Local(Country) TimeGMT shift eg +2 or -1 or -3.30.
- LOTS - The lot size, it's automatically calculated to minimize risk though it can be modified to values below or a little higher.
- MAGIC - unique ID to use the EA along with other EAs.