Introduction
In this review, we will take an in-depth look at the Galaxy EA MT4, a multifunctional trading robot designed for professional forex traders. This analysis will provide a comprehensive overview of the product and its key features, allowing traders to make an informed decision about its suitability for their trading needs.
Forex Trading and Trading Robots
Forex trading is a highly dynamic and complex market, requiring traders to constantly analyze market trends and make quick decisions. Trading robots, such as the Galaxy EA MT4, aim to automate this process by executing trades based on pre-defined parameters and strategies.
Galaxy EA MT4: A Multifunctional Trading Robot
The Galaxy EA MT4 is specifically designed for trading three currency pairs – EURCAD, AUDCAD, and NZDCAD – on the M15 timeframe. However, traders can optimize and use this trading robot for other FX pairs as well. One of its standout features is the multifunctional trading panel built into the EA, which allows traders to open orders manually.
The trading robot is programmed to automatically close opened orders by forming a series and closing the weakest orders with the strongest ones, resulting in an overall profit. Additionally, the EA has a built-in time filter that stops trading 30 minutes before major news events and resumes 30 minutes after. Traders have the flexibility to customize or disable this option according to their preferences.
Key Parameters and Features
The Galaxy EA MT4 offers several configurable parameters to suit individual trading styles. These parameters include:
– Lot Type: Traders can choose between Fixed or Auto lot calculation types. The size of the lot depends on the balance amount.
– Take Profit and Stop Loss: These parameters determine the levels at which the EA will automatically close the first order, whether it is automatic or manual.
– Trailing Settings: Traders can enable trailing stop loss, which follows the price after the first order is opened. This helps protect profits by adjusting the stop loss level.
– Limit Orders: The EA allows the use of pending orders for more precise entry points.
– Order Number to Start DrawDown Reduce: This parameter defines the number of orders in a series that will be closed with the first unprofitable order if the price continues to move against the series.
– Order Number to Start Increasing Lot Size: Traders can specify the order number from which the lot size increase will begin.
– Order Number to Start Increasing Step Between Orders: This parameter determines the order number from which the step between orders will increase (each next order doubles the distance).
– Time Filter Settings: Traders can control the opening time of the first order in the series to align with their preferred trading hours.
– News Filter Settings: The EA allows traders to suspend trading during important news events, ensuring they avoid high volatility periods.
– Notification Settings: Traders can receive alerts and notifications about the opening of the first order and other important events.
– Additional Settings: The Galaxy EA MT4 offers additional features such as displaying the trading panel on the chart and showing the profit calculation.
Recommended Account Balance and Testing
The recommended account balance for optimal performance with the Galaxy EA MT4 is $500. However, traders can also choose to open a cent account and start trading from $5. It is important to note that independent testing of this product can be found on the forexroboteasy.com website. Traders can watch these tests and subscribe to updates on the results of the testing process.
Conclusion
The Galaxy EA MT4 is a multifunctional trading robot designed for professional forex traders. Its features, including a multifunctional trading panel and various customizable parameters, offer flexibility and automation to enhance trading strategies. Traders can optimize this EA for different currency pairs and benefit from its automatic order closing mechanism. However, it is always recommended to conduct thorough testing and analysis before implementing any trading robot into a live trading environment.
We invite readers to share their experiences of using the Galaxy EA MT4 and provide valuable insights into its performance and effectiveness. As an independent product review, this analysis is written in the third person and aims to provide an objective assessment of the Galaxy EA MT4’s features and capabilities.
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