A good EA must have at least a minimum of 6 months track record. Most EAs only shows large profit results & do not have a long-term record trading. We can’t determine whether the EA is good or not within less than 6 months.
Trading strategies that people normally use:
- Single entry
HentakFx EA uses a low risk martingale strategy & have proven consistent results. Like most other EAs, most of them also use the martingale strategy, but HentakFx EA uses its own set of settings instead of copying from the internet. HentakFx EA has been back-tested with 99.90% Modelling Quality data and has been running on live accounts over a year using the default setting.
Minimize the risk by using cent or micro accounts. Suggested broker is:
Choosing the right Currency Pair. Having the right pair is very important and it must suitable with our EA trading strategy.The recommended pair for HentakFx EA is:
- EURUSD GBPUSD EURGBP
- EURJPY GBPJPY AUDJPY
- AUDCAD NZDCAD
Each selected pairs have different settings. It is better if we avoid commodities pair such as AUDUSD NZDUSD USDCAD because of constant trending market.
Do not compounding your account using EA by raising lots. This method can generate big and fast profit but is very dangerous and is not suitable for long term run. The best way is to open a new account if profit exceeds 100% or increase equity to strengthen your account margin.
Do take note especially for Martingale strategy EA, the starting lot is very important because with the use of Multiplier, the result of new/next lot & ratio layer will be different according to the starting lot value.