ForexProphet is an automated trading Expert Advisor with a built-in money management system trading on sharp price movements (mainly it trades based on news releases). The indicator uses only trade action, does not use any indicators, does not use martingale. ForexProphet uses trailing stop to protect against losses. The lot size of each deal is calculated independently depending on the risk per trade, which is preset in the EA parameters. The Expert Advisor shows good results only with low-spread pairs.
ForexProphet was tested on data from 2012 to 2015 with 99.9% emulation quality. As seem from the first two screenshots, the probability of a profitable trade made by ForexProphet is about 65-70%. The relative drawdown with a risk 4.5-5% of the deposit per trade is approximately 28-33%.
- RiskPercent — risk per trade as a percent of deposit.
- TakeProfit — the number of profit points reaching which a position will be closed.
- StopLoss — the number of loss points reaching which a position will be closed.
- TrailingStop — an efficient tool allowing users to automatically set stop loss at the appropriate level from the current price. It is perfect when the market moves steadily in one direction, while a trader cannot follow the movement.
- Slippage — the difference between the price you specify in an order and the actual order execution price.