With the rise in popularity of automated trading, numerous trading software have flooded the market. One notable standout is the FTMO Smart Trader EA, a forex trading software that has gained acclaim for its unique features and performance. This review aims to provide a comprehensive analysis of this trading software, focusing on its innovative approach to forex market analysis and automated trading.
FTMO Smart Trader EA: A Peek into its Unique Features
The FTMO Smart Trader EA stands out in the field of automated forex trading due to its unique combination of custom indicators, trend lines, support and resistance levels, and an undisclosed trading algorithm. This blend of features provides a comprehensive trading strategy that is designed to empower its users. The software is built with love and dedication, aiming to level up the trading experience for both new and experienced forex traders.
What distinguishes this EA from others is its advanced multi-time frame and multi-pair analysis. The software scrutinizes the forex market tick by tick, ensuring that the entry options remain valid. Furthermore, the EA is capable of conducting multi-currency analysis on a single chart, a feature that provides users with a more holistic view of the market.
Automated Trading with FTMO Smart Trader EA
The FTMO Smart Trader EA is a fully automated expert advisor that allows for efficient forex trading. This software was designed with the user in mind, implementing a piracy algorithm to maintain its exclusivity. Its high price tag is justified by its high performance and the value it brings to its users, particularly for those involved in algo trading.
The software also offers a conservative mode for traders who prefer to minimize risk. This mode opens fewer, but higher quality positions. It is a beneficial feature for traders who want to maintain a cautious approach, especially given the current unpredictable market conditions.
Performance Analysis and Back Testing
While back testing is a common practice to gauge the potential performance of forex trading software, it does not always accurately reflect live trading conditions. This is because market conditions are constantly changing, and factors that influenced past market behavior may not apply to the current market conditions. Therefore, the FTMO Smart Trader EA recommends forward testing as a more reliable way to assess its performance.
To that end, a demo version of the software is available for traders who want to conduct forward testing. This option allows users to get a feel for the software and to assess its potential performance in real-time market conditions.
FTMO Account Settings and Recommendations
The FTMO Smart Trader EA offers flexible settings for different account sizes. It recommends a deposit of 400 USD for trading one pair with 0.01 lot size. The software also provides specific settings for FTMO account sizes ranging from $10,000 to $100,000. These settings help optimize the software’s performance according to the trader’s account size and risk tolerance.
FAQ
Is the FTMO Smart Trader EA suitable for all types of traders?
Yes, the FTMO Smart Trader EA is designed to be user-friendly and suitable for both new and experienced traders. Its features and settings can be customized according to the user’s trading strategy and risk tolerance.
Where can I see independent testing of the FTMO Smart Trader EA?
Independent testing of the FTMO Smart Trader EA can be seen on the forexroboteasy.com website. Subscribing to updates on the results of this testing is also an option for interested users.
How can I share my experience of using the FTMO Smart Trader EA?
Users are invited to share their experiences and feedback about the FTMO Smart Trader EA. Such interactions can contribute to the software’s continuous improvement and provide valuable insights for prospective users.
In conclusion, the FTMO Smart Trader EA is a robust and advanced forex trading software that offers a unique blend of features for a comprehensive trading strategy. Its focus on user empowerment and continuous market analysis makes it an appealing choice for those interested in automated trading.
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