FIFO Beater
- Experts
- Pejman Alanjari
- Version: 6.0
- Activations: 5
This is a fully FIFO compliant EA that performs money management as well as risk management. It is ideal for American residents who deal with FIFO limitations and low 1:50 leverage. The EA entry point is fully customizable and traders can conveniently modify the inputs to serve their own risk apatite. Here is the signal I created to track the progress of this EA live:
https://www.mql5.com/en/signals/1491511
Since it uses martingale strategy, a gradual delay strategy is defined in the EA that closes down the positions once it reaches a DD level defined by the trader. Also the delay strategy can be customized by the trader. Here are the main features of the EA:
- First In, First out always.
- No hedging is performed at any point
- No netting, no different take profit at multiple grid levels. The program always pick one take profit for all similar positions as per the US-regulated rules.
- Money management is performed. The trader can pick what size the first position can be compared to his/er equity.
- Entry points are based on RSI technical levels but the traders can pick which technical levels they want the entry point should be. They can make it liberal or conservative.
- Market sudden spikes are filtered out easily using RSI filters
- It can be applied to any currencies, any CFDs (indices, metals, oil, cryptos, etc.)
- Maximum draw down can be selected by the user.
- An delay exit strategy is defined based on candle delays so that if the market happens to return after X amount of candles, the program still should have a chance to exit out of the situation with minimum loss or even profit.
- Take profit levels are customizable too. Traders can pick if they want to exit with minimum profit or more than the program defaults.
- Technical support will be given to traders after sale. Recommended settings will be given along with hints for successful trading for any asset (currencies, CFDs, cryptos, etc.)
- Simplicity is the key. The input parameters are digestible and practical. Users wont have to spend hours to figure out the input parameters and can easily calibrate them through back testing.
