BestForexTrader EA is known for its stability. The author emphasizes that when developing the strategy, he decided to give preference to high survival rate, despite the fact that it is somewhat reduced the profitability of the EA. Another advantage of it is a small minimum deposit required and the fact that the algorithm doesn’t use the Martingale principle.
The EA was created in late 2009 and has no restrictions on the currency pair. However, the author does not recommend using it on the pairs with high volatility – for example, GBP/JPY or EUR/JPY. Initially, the EA could not make deals without human intervention, but rather simply signaled about the possibility of entering the market. Since the trade is conducted on a time interval h1-h4, the market situation had to be monitored 3-4 times a day.
In 2010, the EA acquired the function of automated trading, which allowed it to show its full potential. The results depend strongly on the testing period – during the most favorable period, it can make up to 50-100 profitable deals in a row.
BestForexTrader EA: peculiarities of operation
This EA is optimized to work in a quiet market, and the best option is flat price movement. It is desirable that the price doesn’t go beyond the boundaries of the corridor in 300 pips. In this case, the possibility of deposit being siphoned is eliminated.
During a mild trend, the EA Adviser continues trading, but with less efficiency. The most dangerous scenario is when the price makes a leap. It is better to ban robot from making deals during the nascent trend.
Good performance is observed with relatively calm pairs like USD/CHF, EUR/GBP, NZD/USD, AUD/USD. Typically, there is no more than 1 deal per day with each currency pair. Therefore, it is recommended to trade 3-4 pairs simultaneously in order to improve the efficiency of trading.
To install the BestForexTrader EA, you need to copy the file with the .mq4 extension to the Experts folder, and then (in the MT4 terminal) simply drag the BestForexTrader EA on the price chart. The trader is limited in the EA settings, as they can only change the lot size and the EA operating mode (automatic or semi-automatic mode of trading). The minimum recommended size of the deposit is $100 – in this case the Lot value is 0.01.
Impressions from the use of BestForexTrader EA
Testing in quiet areas confirms the developer’s assurances of stable and profitable trading. The deals are made 1-2 times per day in average for each currency pair. At the initial deposit of $100 - $200, the profit per deal will be in the range of $3 - $6. Stability is achieved due to a high ratio of profitable/unprofitable deals.
The main advantages of the EA are the following:
ability to work with all types of DCs (the number of digits after the decimal point does not matter);
ease of setup;
stable profits during a flat market.
The main disadvantage is that the trader cannot change parameters of indicators. This simply ties hands and doesn’t allow to experiment with other timeframes. Moreover, in the conditions of a mild trend, the BestForexTrader EA shows a much lower efficiency.Social button for Joomla