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  • Reviews (2)
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Forex King 2 Hedging EA

Forex King 2 hedging EA is the perfect trading robot for newbies.  It’s user friendly and easy to configure. No indicator installation is needed as everything is already built into the robot.  The number of parameter settings require to configure the robot is minimal, so you can have the robot running in just a few minutes after purchasing it. This EA work great on EURUSD with fantastic result. You almost can't lose if you uses 0.01 starting lot size.


Just because Forex King is easy to use and to configure does not mean it’s not powerful.  In fact it’s the opposite! If you don’t believe me, just download the demo version and test the robot in strategy tester for Gold (XAUUSD) or EURUSD on 5minutes chart and see the result for yourself.


Trading Strategy

The Expert Advisor identifies the trend based on its built-in logic and setting the user provide.  It than open the first trade of the cycle in the direction of the trend.  If the trade is a loss than it use grid for recovery and all positions will be closed when the total profit exceeds the take profit specified.

Input Variables:

  • Show side panel - display the right side information panel
  • Font size - adjust the font size of the side panel
  • Menu color - Main text color of side panel
  • Variables color - the value text color of side panel
  • Chart foreground color - chart main color
  • Chart background color - chart background color
  • Buy break even line color - long break even color line
  • Sell break even line color - short break even color line
  • Strategy - Select the strategy to use
  • Enable safe mode - enable or disable safe mode switch
  • Default lots size - set default lot size
  • Maximum lot size - set the max allowed lot size.
  • Lot multiplier - the lot size multiplier
  • Dollar Loss $$ - Dollar amount loss to close all open trades
  • Dollar Profit $$ - Dollar amount profit to close all open trades
  • Stop loss - the size of stop loss
  • Take profit - the size of take profit
  • Trailing stop - the size of trailing stop
  • Slip - difference between the expected price of a trade and the price at which the trade is executed
  • Maximum spread allow - The difference between these two prices is the spread (bid and ask)
  • EA magic number - Magic number must be less than 99999
  • Additional lot - add lot size to each order
  • Trade Comment - add any comments to your trades
  • Stop next cycle - stop new trade once current cycle is closed
  • Use smart steps - use the automatic step calculation
  • Manual step - use manual entered step
  • Step multiplier - the grid step size multiplier
  • Number of candles - How many bars to use to calculate break out
  • Distance from price- distance added to current price
  • Moving Average Setting
  • RSI Setting
  • Stochastic Setting
  • High Low Candles Setting
  • Time Filter Setting
  • Buttons for manual trading

Recommended Currency: EURUSD, EURCAD, XAUUSD (gold)

Recommended Timeframe: 5 Minute (M5)

Recommended Broker:

  • Micro Account (Leverage 1:200): FXChoice
  • Micro Account (Leverage 1:500): ICMarkets, Pepperstone, FBS
  • Cent Account (Leverage: 1:500): FBS, Exness


Money Management:

  • Micro Account (Leverage 1:500):
  • Capital $1,000
  • Lot size 0.01
  • Add more capital if float >=50%
  • Cent Account (Leverage 1:500):
  • Capital $50
  • Lot size 0.01
  • Add more capital if float >=50%


VPS (Virtual Private Server) is recommended or keep your computer on 24/7.

FRIENDLY REMINDER:  Do not risk money you cannot afford to lose! Better safe than homeless right?

Please test EA in Demo account for at least 2 weeks to see and understand how grid system work.  By default grid system does not use stop loss, as it uses grid for recovery instead.  You must be comfortable with some drawdown if you are going to use this EA.  Lastly its very important that you ALWAYS trade with 0.01 lot as your starting volume. 








Reviews 2
Derrick Lloyd Pendleton
211
Derrick Lloyd Pendleton 2020.05.16 03:14 
 

Another great EA from Michael. This one has an even longer list of separately optimizable strategies than Dragon. It also has a useful hedging strategy built in. I use this now on my non-US accounts and Dragon on my US broker. So far I'm very happy with the performance, and as always Michael is great to work with.

Paolo Becheri
46
Paolo Becheri 2020.05.03 16:02 
 

3-May-2020

I backtested it for 2 months on several Pairs finding out some very suitable configuration in order to minimize correlations and distribute risks.

Actually it's running in demo since 3 weeks ago and results are 100% comparable to backtesting.

I'll run it in live within 2 weeks and will update my Review.

I should say Author is always ready to answer and the EA is 100% meeting my expectations!!

Recommended products
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Derrick Lloyd Pendleton
211
Derrick Lloyd Pendleton 2020.05.16 03:14 
 

Another great EA from Michael. This one has an even longer list of separately optimizable strategies than Dragon. It also has a useful hedging strategy built in. I use this now on my non-US accounts and Dragon on my US broker. So far I'm very happy with the performance, and as always Michael is great to work with.

Paolo Becheri
46
Paolo Becheri 2020.05.03 16:02 
 

3-May-2020

I backtested it for 2 months on several Pairs finding out some very suitable configuration in order to minimize correlations and distribute risks.

Actually it's running in demo since 3 weeks ago and results are 100% comparable to backtesting.

I'll run it in live within 2 weeks and will update my Review.

I should say Author is always ready to answer and the EA is 100% meeting my expectations!!

Version 9.2 2020.05.03
add Maximum Total Open Orders for Account
Version 9.1 2020.04.23
minor update to the side panel
Version 9.0 2020.04.19
Changed how safe mode work.
Version 8.0 2020.03.06
Improved some of the strategies
Version 5.8 2020.03.01
The reverse setting was backward in simply Bollinger band strategy
Version 5.7 2020.02.29
small bug fix
Version 5.5 2020.02.28
Latest version.
Version 5.3 2020.02.26
Fixed a major bug.

After upgrading to this version you can NOT use any old set files. You need to create all new set file from this version on.
Version 5.2 2020.02.20
fix some small issue.
Version 5.1 2020.02.19
Small bug fix
Version 3.0 2020.02.18
Update to the latest version
Version 2.0 2020.02.16
New strategies and improved manual trade buttons.
Version 1.80 2020.02.12
Add new manual trade buttons. Now you can do auto trading and manual trading at the same time.
Version 1.40 2020.02.07
Bug fixes.
Version 1.30 2020.02.06
Add Maximum Trade Per Side
Version 1.20 2020.02.04
Add new High Low strategy
Version 1.10 2020.02.02
Add width to the break even lines