The Swap King
- Experts
- Version: 3.3
- Updated: 7 March 2023
- Activations: 5
THE SWAP KING.
Be the Bank.
THE SWAP KING is a multicurrency bot that is simple but ingenious. The Bot was created two years ago and has been growing my account since then.
If you have traded with CFDs before you will know that you either need to close all trades before midnight and weekend OR you will be charged a hefty fee for keeping the trade(s) open.
Unfortunately that leaves us traders only three options: scalping, spending lots on spreads and commissions for closing and opening trades or taking on the swap interest payments as further hurdle to being a profitable trader.
THE SWAP KING is the solution.
The EA always closes with a profitable trade, taking into account spreads, commissions and swap fees.
One of the many clever attributes is that it only trades symbols that offer interest payments by your broker.
It waits and only enters a the right spot whenever it can calculates a high probability to win.
Once it enters a trade there is a set of risk management tools running in the background.
For instance, there is always one limit order open to increase the chances of success. Limit orders are rarely used by other EAs, but they are amazing: Limit orders have no fees, spreads and commissions with most brokers.
So, with the EA your broker pays you leveraged interest fees, which greatly enhances your chances of winning.
THE SWAP KING is part of a larger EA-strategy.
THE SWAP KING is the low-risk strategy: https://www.mql5.com/en/market/product/93774
THE SWAP QUEEN is the mid-risk strategy, trading several currencies at the same time. https://www.mql5.com/en/market/product/94729
THE SWAP JOKER is the high-risk strategy, trading several currencies at the same time with a large lot-size. https://www.mql5.com/en/market/product/95218
The best way to utilise the three EAs is to move profits from the high-risk to mid-risk to low-risk. The golden rule: Every time the JOKER doubles, move profits to the QUEEN. Every time the QUEEN triples, move all profits to the KING.
What are leverages interest fees?
Let’s say you have a (prop) trader account of 10.000 USD (1:100 Leverage). Normally, you can buy for this 10.000 USD notes, that will yield you 2% or 200 USD per year. Not interesting!
With CFD trading and THE SWAP KING you can enter into positions that have a value of 1.000.000 USD or higher and earn 1% per year, or 10.000 USD. The low drawdowns make it possible.
Well, with 10.000 USD + 10.000 USD, you now have 20.000 USD and thus 2.000.000 USD to borrow to the bank, with will yield 20.000 USD in year 2, making your account 40.000 USD in the beginning of year 3.
Initiate the EA:
Open your favourite Symbol on M1 timeframe.
Please right-click on a market-watch-symbol and select "SHOW ALL", so the EA has access to all symbols to select the best trade.
Enter all the symbols the EA is supposed to trade. You can type "ALL" for all major currency-pairs to be trader.
Some brokers have symbol extensions, like X or .pro. Please make sure that you type the correct symbol(s). "ALLx" and "ALL.pro" are also options.
Turn the Performance Booster on "true".
If no trades are initiated, likely your broker has a bad swap setup - charging you high swap fees. Find another broker.
Please backtested the strategy and run it on a demo account for a while.
Good luck on your trading!
User didn't leave any comment to the rating