Within the expansive landscape of Forex Trading Software, a unique contender, Mona Lisa MT5, emerges as an intriguing option for traders. This fully automated Trading Advisor offers a unique blend of indicator-based Technical Analysis and Price Action principles. The result? A flexible and adaptive Forex system capable of trading a wide array of currency pairs while minimizing the chance of over-optimization.
Key Features of Mona Lisa MT5
The Mona Lisa MT5 is known for its precision. It specializes in midnight trading scalping and operates for brief periods during the rollover period in the Trading Channel when market volatility is low. To tackle the common problems of Market Execution and Slippage faced by many midnight scalpers, Mona Lisa MT5 employs Limit-orders. These orders help ensure the most accurate execution, thus significantly reducing the impact of a high spread in rollover and high Slippage.
Moreover, this software is protected by a news filter, which suspends trading during major news releases. The software also refrains from using dangerous trading methods like Grid and Martingale. All transactions are safeguarded by Stop Loss and Take Profit mechanisms. Furthermore, the Take Profit is dynamic and adjusts closer to the price in line with the movement of the Trading Channel.
Recommended Currency Pairs and Timeframe
The Mona Lisa MT5 system is recommended for trading on the following currency pairs: AUDCAD, EURAUD, EURCHF, EURUSD, and USDCHF. The optimal timeframe for these trades is M5. This adaptive Forex system is designed to work best with these specific pairs and timeframe, allowing for a more focused and efficient trading experience.
Getting Started: Minimum Deposit and Account Settings
With a minimal recommended deposit of $50, the Mona Lisa MT5 is accessible for traders. However, to achieve stable performance, it is highly recommended to use ECN accounts with a minimum spread and a commission per trade of no more than $7 per lot (the optimal commission size is $4-5 per lot).
The software allows for flexible money management settings. Traders can choose either a Fixed lot, a trade size based on the size of the maximum balance loss (Percent of Loss), or a trade size proportional to balance (Percent of Balance). Additionally, the Risk Size setting allows traders to adjust the Money Management Value.
Trading Time Settings & Protection Features
Mona Lisa MT5 offers customizable trading hours with settings that allow traders to define the beginning and end of two separate trading intervals. It also has a ‘Triple Swap Protection’ feature, which prevents opening a deal during the period of accrual of a triple swap, ensuring that traders are protected from unexpected losses.
Moreover, traders can decide whether to allow trading at the market open on Monday or before the market closes on Friday. All trades are also protected by a dynamically adjusting Stop Loss mechanism.
FAQ
Q: Where can I find independent testing of the Mona Lisa MT5?
A: Independent testing of this product can be found on the forexroboteasy.com website. You can also subscribe to updates on the results of testing this product.
Q: Can I share my experience of using this product?
A: Absolutely. User experience and feedback are valuable for improving the product and aiding other traders in their decision-making process.
In conclusion, the Mona Lisa MT5 presents a compelling option for currency trading within the Forex Market. With its unique blend of features, adaptive system, and protective measures, it offers a unique proposition in the realm of automated trading.
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