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VENOM EA MT4 – Full Input Settings Analysis
Venom EA is a trading robot tailored for the Forex market, operating on the MetaTrader 4 platform. Employing a martingale trading strategy coupled with a digital filter, it executes trades automatically. Additionally, it functions as a hedging bot, employing a grid system for trading. The Venom EA dynamically adjusts position sizes based on market conditions, utilizing a martingale approach. This strategy is complemented by a digital filter to optimize trading decisions.
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General Information
- Magic Number: 93793 → Unique identifier for this EA, used to recognize its trades.
- Slippage: 2 → Maximum acceptable slippage while placing orders is 2 pips.
Trading Settings
- Grid Size: 30 → Grid spacing is 30 pips (new order is placed every 30 pips).
- Take Profit (TP): 15 → Each order is targeting 15 pips of profit.
- Profit Lock: 0.6 → Dynamic profit locking; EA locks 60% profit as soon as profit crosses a specific threshold.
- Retry Attempts: 99 → EA makes up to 99 retry attempts in case of order placement failure.
Money Management
- Minimum Lot Size: 0.1 → Minimum order volume is 0.1 lot.
- Account Risk Cut: 100.0 → 100% equity cut-off → actually no limit, very risky.
- Account Profit Cut: 1.0 → EA closes all trades when the account gains 1% profit (equity-based take profit).
- Progression: Fibonacci → Progression of lot size by means of Fibonacci sequence (0.1 → 0.1 → 0.2 → 0.3 → 0.5 …).
→ This is a weak martingale system where risk increases progressively.
Key Takeaways
- Martingale Strategy Explanation: Martingale involves doubling position size after each loss, aiming to recover losses and turn a profit when the market moves favorably over time.
- Market Movement Expectation: The strategy relies on the assumption that market movements will eventually align in the trader’s favor, resulting in larger winning trades compared to losses.
- Venom EA Integration: The Venom EA seamlessly incorporates the martingale trading system into charts, automating its application for traders.