As the forex market continues to evolve, so does the technology used by traders. Among these advancements is Prop Genius, a sophisticated Expert Advisor (EA) specifically designed for prop firm trading. This review delves into the unique features and benefits of this advanced trading software.
Unique Features of Prop Genius
Prop Genius is a comprehensive trading software that boasts a Stealth Modeยฎ function. This unique feature allows the EA to open trades at different timings compared to other accounts where Prop Geniusยฎ is active. The primary advantage is to curb the issue of โcopy tradingโ.
Apart from this, Prop Geniusยฎ offers loss management via a technique known as โSoftโ Martingale. It also gives traders the flexibility to keep trades open overnight and over the weekends. This is a feature not commonly available as some prop houses prohibit this technique.
Recommended Forex Pairs and Settings
The recommended forex pairs for Prop Genius include XAUUSD, EURUSD, EURCAD, AUDCHF, AUDUSD, USDCAD, and USDCHF. The EA is optimally set for a 200K account with a lot size of 0.32 and a timeframe of H1.
The settings of Prop Geniusยฎ are versatile, allowing traders to customize the Asset Type, Initial Lots, Max Spread, Slippage, and Magic ID. The Stealth Modeยฎ can be activated to disguise the system, making it impossible to open manual trades on the same instrument where Prop Geniusยฎ is running.
Profit/Loss Management and Martingale Strategy
The software comes with customizable settings for Take Profit (TP) and Stop Loss (SL), based on the number of pips relative to the entry price. However, if the martingale for loss management is active, the SL parameter is automatically calculated and ignored.
The Martingale strategy can be utilized as a loss management technique. Traders can set the maximum number of positions that can be opened before closing at Stop Loss, the distance for opening the next position compared to the previous one, and the lot multiplier for the subsequent position.
News Filters and Post-Purchase Support
Prop Geniusยฎ comes equipped with news filters that, when activated, prevent the opening of new positions during set periods but can close those already open. This feature is based on the time of the PC on which MetaTrader 4 is installed.
After purchasing Prop Geniusยฎ, traders can send a message to receive an instruction manual. The manual will provide a step-by-step guide on how to effectively use the softwareโs features and settings.
FAQs
How does the Stealth Modeยฎ function work?
The Stealth Modeยฎ function allows Prop Geniusยฎ to open trades at different timings compared to other accounts where the software is active, preventing โcopy tradingโ.
What is the Martingale strategy?
The Martingale strategy is a method of loss management. It involves doubling the trade size after each loss until a win is achieved.
How do news filters work?
News filters prevent the opening of new positions during set periods but can close those already open. This is based on the time of the PC on which MetaTrader 4 is installed.
Where can I find independent testing of Prop Geniusยฎ?
You can watch independent testing of Prop Geniusยฎ on the forexroboteasy.com website. You can also subscribe to updates on the results of testing this product.
We invite readers to share their experiences using Prop Geniusยฎ. This is an independent product review and we encourage open and honest feedback to help others make an informed decision.
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