ET1 for MT4

Overview of ET1 for MT4

• ET1 for MT4 is an Expert Advisor (EA) designed for MetaTrader 4.
• It primarily employs common trading strategies utilized by professional traders, focusing on breakout strategies within oscillating ranges.
• Ideal for trading volatile currency pairs such as Gold (XAUUSD).
• The EA has a dynamic take-profit and stop-loss strategy to protect trades effectively.
• Accessible to users for free, but stability is not guaranteed.

Key Features

• Supports volatile currency pairs, particularly XAUUSD (Gold).
• Dynamic risk management with adjustable risk levels ranging from low to highest risk.
• Automatically manages lot sizes via the Auto Money Manager (AutoMM) option.
• Allows users to enable or disable individual strategies during operation.
• Offers a Profit Protector feature to safeguard profits as trades progress. 💰

Trading Parameters

• Fixed Lots and Lot Multipliers settings to customize trade size.
• Risk options categorized into four levels:
  • 1.0 - Low Risk
  • 2.0 - Medium Risk
  • 3.0 - High Risk
  • 4.0 - Highest Risk
• Enables the deletion of pending orders before market closure to streamline trading operations.
• Requires a minimum deposit of 1000 USD for optimal functionality.
• ECN brokers with low spreads are recommended for trading with this EA.

User Experience and Feedback

• Users have reported an impressive success rate of over 75% with ET1.
• Some reviews express appreciation for its user-friendliness, especially for those new to EAs.
• Others caution that while it is free, users should not rely solely on ET1 due to potential stability issues.
• Continuous updates are promised to maintain and enhance the EA's performance.

Recommendations for Optimal Use

• Best utilized on XAUUSD (Gold) across multiple timeframes.
• A low latency VPS is suggested to improve execution speed.
• Using it in conjunction with a more powerful EA version, like ET9, may yield better results based on original strategies.
• Traders are encouraged to conduct comprehensive backtesting to tailor the strategy settings to their risk tolerance and trading style. ⚡