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Forex Robot Eldorado

How does Forex Grid "Eldorado" Expert Advisor work?

Forex "Eldorado" Expert Advisor is based on FOREX Grid Strategy. Forex Grid Strategies were designed to reduce risk by making the success of a trade independent of the direction the market moves. Expert Advisors based on FOREX Grid strategies can be an effective approach provided the currency traded is not in a strong upward or downward trend (in which case Forex grid trading will not work well). Grid trading is a difficult strategy, and requires a degree of expertise. However, it's easy to understand the basic idea of how to grid trade FOREX. Sell order makes profit when the exchange rate falls, and a buy order makes profit when the exchange rate rises.


Recommendations

  • Recommended currencies: CHFJPY, EURCHF, GBPUSD.
  • Timeframe: Any.
  • Using Indicators: No.
  • Trading Time: 24 hours per day.
  • Risk: Medium.
  • Minimum Deposit: $5 000 ($500 with Lot=0.01).
  • Recommended Deposit: $20 000 ($2 000 with Lot=0.01).
  • Orders Type: Buy Limit and Sell Limit pending orders.
  • Money Management: Stop Loss and Take Profit, closing by profit, closing at time.
  • MT4 Expert Advisor Customization: possible upon the request.
  • NOT sensitive for broker.
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