To make money in Forex market, a trading strategy is needed, which is built on various indicators and oscillators. However, new ways of trading are emering today on the market, automated trading being one of them. Automated trading is trading with robots-advisors. Trading robots are a passive income on Forex, you only need to program the robot for your strategy. Let’s take a look at Forex Envy EA.

The Forex Envy EA is one of the most profitable Forex robots. It works with almost any major currency pair. At the same time, the Envy is dangerous because the EA works on Martingale strategy, i.e. it is constantly increasing position volume. The working principle of the Forex Envy EA is the following: it opens grid of orders on the 30-minute timeframe and doesn’t close them until profits exceed losses. Testing of the Forex Envy EA from the end of 2013 showed very good performance. From December to February, there was growth of 148%, drawdown was 27%, more than 60% of deals are profitable.

EA setiings

Since the Forex Envy EA uses a very risky trading strategy, the developers recommend to carefully configure the EA for yourself.

  • Magic number: sequence of numbers the EA uses to avoid confusion between the orders that were opened by the EA or the trader.
  • Baze lot size: the volume of a trading lot.
  • Execution Point: EA setting that shows the number of pips the market moved against the order.
  • Basket Take Profit: the level of position (order) closing.
  • Basket Stop Loss: protective order, which is set automatically, it can also close all deals if the trader’s deposit showed a certain % of drawdown.
  • Multiplier: parameter which multiplies the position volume.
  • MaximumBuy Levels: limit of orders to buy per day.
  • MaximumSell Levels: limit of orders to sell per day.
  • Slippage: level of slippage.
  • Support ECN: parameter that allows to set stop-loss and take-profit automatically at the opening of the new position.
  • Bail Out Pct: a certain % limit of the deposit, upon reaching which the EA closes all deals.
  • Chicken Out: simultaneous closing of all positions.

Tips from developers on how to maximize profits

To consistently earn using the Forex Envy EA, its developers advise to comply with certain requirements:

  • withdraw money every month, as the robot can lose your profits;
  • the most important is to adhere to the recommended deposit. $360 for cent account, $3,600 for micro dollar account, $36,000 for the standard;
  • it is also very important to configure the Forex Envy EA. The developers advise to apply the modified settings only after checking them on a demo account;
  • for a permanent use of the Envy EA you need to have Metatrader 4 always on.

The developers of the Forex Envy EA charge a monthly fee of $40 for 3 months. This includes 3 demo and 3 real accounts. Also, if you can’t use or don’t like the EA, you can return it within 30 days and get your money back. After purchasing the Forex Envy EA, all the instructions and settings will be sent to your e-mail, as well as the advisor itself.

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