Red Dollar EA

Red Dollar EA stands out as a non-standard Expert Advisor in the realm of Forex software. Rather than fitting into a specific category, it adapts dynamically to the current market conditions. Utilising both time and price information, Red Dollar EA trades using pending orders, demonstrating its adaptability to the market flux.

Trading Frequency and Requirements

The number of trades executed by Red Dollar EA varies significantly depending on the prevailing market conditions, software settings, and the quantity of financial instruments traded. This could range from a few deals a month to several dozen a week. For the software to run smoothly, a Virtual Private Server (VPS) is necessary. Additionally, a minimum deposit of $1,000 of the base currency is required. The timeframe remains irrelevant, though the standard setting is for GBPUSD H1 on an ECN low spread account.

Market Entries

The Forex software places two contrasting pending orders – STOP or LIMIT, based on its input parameters. These orders are subsequently modified in line with the price determined by the timer in seconds. When one pending order is activated, the other is automatically deleted. Should the Red Dollar EA be operating on several currency pairs with identical magic numbers, all inactive pending orders are removed, and the software continues to work exclusively with the pair where a position has been opened. However, if different magic numbers are used, the EA operates with each of the pairs separately.

Opening and Closing of New Orders

In situations where the price moves in the opposite direction to the open position, Red Dollar EA places a pending order at a predetermined distance to track the price. The pending order will only be modified if the price continues to move in an unfavourable direction. This tactic ensures the most advantageous positions of new deals. Multiple positions can be opened at one price, depending on the software’s settings and price behaviour.

When it comes to closing deals, if there is one position in the market, the first modification of stop-loss is at the breakeven level. Then a point-based trailing stop is activated and continues to work until a specified distance in the EA settings ‘TrailingStop’. Once the distance is passed, trailing by previous Hi-Lows of bars is enabled. The timeframe and the number of bars for identifying the extreme values are specified in the software settings. This switching trailing stop mechanism allows for profit maximisation.

Dealing with Multiple Positions

In cases where several positions are in the market, all deals are closed by a common profit. There may be instances where some deals are closed with a minor loss, but the overall profit of closed orders always surpasses the loss. All positions are closed by a trailing stop, and position closing prices may differ, depending on the speed of order execution on the broker’s side.

FAQ Section

1. What is the minimum deposit for Red Dollar EA?

The minimum deposit required for the software is $1,000 of the base currency.

2. What is the standard setting for the software?

The standard setting is for GBPUSD H1 on an ECN low spread account.

3. How does Red Dollar EA manage multiple positions in the market?

All deals are closed by a common profit. Some deals might close with a minor loss, but the total profit of closed orders always surpasses the loss.

4. How can I stay updated on the testing results of Red Dollar EA?

You can subscribe to updates on the testing results of this product on the forexroboteasy.com website.

In conclusion, Red Dollar EA proves to be an adaptable Forex software fit for the dynamic Forex market. Users are encouraged to share their experience with the product. Independent testing of this product can be watched on the forexroboteasy.com website. Stay up-to-date by subscribing to updates on the testing results of this product. Remember, this is an independent product review, and user experiences may vary.