Within the realm of Forex trading, Loss Recovery 1 MT4 emerges as an innovative expert advisor that aims to alleviate the financial strain of trading losses. Its primary function is to aid in the recovery of positions that were erroneously opened, whether by another EA or manually, without resorting to high-risk strategies such as martingale or averaging.
Functionality of Loss Recovery 1 MT4
This expert advisor employs a strategic approach by placing positions in opposite direction and some in similar direction to the erroneous position. It then manipulates these positions utilizing mathematical methodologies until the total loss is recovered. The modus operandi of this expert advisor can be customized according to the traderโs preference.
Parameters of Loss Recovery 1 MT4
The EA can be set to focus on a single position with a specified ticket or order ID, where it only recovers the in-loss position linked to the designated ticket. Alternatively, it can be configured to work on all positions on an account or on the current chart with losses exceeding the value specified in the โDistance to Startโ field. Another viable option is for the EA to recover all positions with a predetermined magic number and losses greater than the โDistance to Startโ field.
Customization of Recovery Process
The recovery process can be initiated based on a fixed point, points determined by ATR (Average True Range), a percentage of balance, or a fixed loss amount. The distance to start the recovery process can be set as a fixed point or based on ATR value. The distance between positions can also be defined in points or as an ATR multiplier. The trader has the flexibility to set the volume percent for positions in the same direction or the opposite direction of the wrong position.
Profit and Loss Management
With this expert advisor, traders can set a total take profit for the basket of trades. If the aim is to recover losses without making a profit (Break-Even), the trader can enter โ0โ in this field. The EA also possesses the ability to close all open charts when the recovery process begins, excluding the current chart.
Recommended Values
The recommended values for the โDistance to Startโ and โDistance of Positionsโ fields vary based on whether the trader prefers a conservative mode (recover loss slowly with low risk) or a fast mode (recover loss as soon as possible). The exact values also depend on the specific Forex pair being traded.
Independent Testing and Updates
For those interested in witnessing the effectiveness of Loss Recovery 1 MT4, independent testing of this product is available on the forexroboteasy.com website. Subscribing to updates on the testing results of this product is also an option.
Share Your Experience
If youโve used this product, we encourage you to share your experience. Your insights can provide valuable information for other traders considering this expert advisor.
FAQs
What is the main function of Loss Recovery 1 MT4?
Loss Recovery 1 MT4 is an expert advisor that recovers losses from positions that were opened in the wrong direction.
What strategies does this EA use?
This EA uses mathematical methods to manage positions until the total loss is recovered. It does not use high-risk strategies such as martingale or averaging.
Can I set the parameters of this EA?
Yes, Loss Recovery 1 MT4 offers customizable parameters, allowing you to set the recovery process based on your preferences.
Where can I find independent testing of this product?
Independent testing of Loss Recovery 1 MT4 can be found on the forexroboteasy.com website.
Can I share my experience with this product?
Absolutely! We encourage users to share their experiences to help others make informed decisions.
Please note that this is an independent product review, and the content is written in third person to maintain neutrality and professionalism.
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