Classic Lock MT5

Classic Lock MT5, a trend-trading software for Forex, offers a comprehensive trading system that utilizes a combination of various algorithms. These algorithms are designed for both initiating transactions and providing support throughout the trade. The core of this software lies in its breakout strategy, which aligns with market trends for effective trading.

Key Features: Versatility and Adaptability

This Forex trading tool is a master of versatility. It can trade on a wide array of instruments, from currency pairs to commodities such as gold and oil. Its ability to adapt to any type of Forex account – be it RAW/ECN, Standard, or Cent – enhances its accessibility for traders of different calibers.

Classic Lock MT5 thrives in volatile markets and can be attached to any timeframe. This is due to the inbuilt “TimeFrame_for_Strategy” parameter that adjusts the trading parameters according to the required timeframe.

Strategic Transaction Initiations

The software boasts a set of strategies for opening the first trade in a series of positions, controlled by the “Select_Enter_Signal” parameter. For semi-automatic trading, traders can set the direction of the 1st transaction in line with the higher timeframe trends and the current political and economic situation.

This direction setting can be manipulated using either the EA parameters or the chart buttons labeled “First BUY” and “First SELL”. To instantly commence a new series of positions, traders can use the “Fast 1st BUY” or “Fast 1st SELL” buttons on the chart.

Risk Management

Classic Lock MT5 offers different risk levels to cater to various trading styles. For aggressive trading, use 0.01/$1000-$1500. If you prefer medium risk, opt for 0.01/$3000, and for a conservative approach, go for 0.01/$5000-$10000.

Moreover, it offers the “close orders at the percentage of loss” parameter to cap your losses. This is an essential feature for risk management, but it requires a good understanding to determine the most optimal value.

Usage Instructions

To use Classic Lock MT5, simply attach the adviser to the chart and load the necessary settings. If you’re trading in semi-automatic mode, you need to set the most likely direction for the first trade (Buy or Sell).

FAQ

What is Classic Lock MT5?

Classic Lock MT5 is a Forex trading software that uses a combination of algorithms for initiating and supporting transactions. It utilizes a breakout strategy for trend-trading.

What instruments can Classic Lock MT5 trade on?

Classic Lock MT5 can trade on a wide variety of instruments, including currency pairs, gold, and oil.

What types of accounts are compatible with Classic Lock MT5?

Classic Lock MT5 can be used with any types of accounts: RAW/ECN, Standard, Cent.

For more insights on the product, independent testing of Classic Lock MT5 can be viewed on forexroboteasy.com, where users can also subscribe to updates on the testing results.

We invite users who have experience with Classic Lock MT5 to share their stories. Your insights are valuable to us and to other traders who are considering using this software.

Please note that this is an independent product review. The content is written in the third person and does not endorse or promote any product. It is intended to provide a neutral analysis based on the product’s description and available information.