Forex Tramp EA. This is a fully automatic forex Expert Advisor (EA) for the most popular MetaTrader 4 platform. Forex Tramp trades on our real accounts since beginning of 2013 and demonstrates steady profits with very moderate risks.
Type: fully automatic Forex Expert Advisor
Platform: MetaTrader 4
Producer: ARGO lab
Category: trend-following, soft martingale
Currency pairs: EURUSD, GBPUSD, AUDUSD, EURJPY, NZDUSD, USDJPY, GOLD
Timeframe: any (results do not depend on timeframe, H1 is a good choice)
Trading time: 24/5
Entries: by pending orders
from 1000$ for USD or EUR accounts with minimal lot 0.01
from 100$ for USD cent or EUR cent accounts with minimal lot 0.1
from 10$ for USD cent or EUR cent accounts with minimal lot 0.01
Recommended brokers: RoboForex, Forex4you, instaforex, Alpari, FxOpen
Forex Tramp’s trading strategy belongs to the class of breakout and trend-following trading systems. Generally, the breakout strategies are among the most popular and most widely used trading systems on the forex market. Unfortunately, most of the classical strategies of this type were invented long ago and are no longer profitable on the present-day market. Because of this we had to significantly modify and extend the existing strategies in order to make an Expert Advisor capable of fully automated and profitable trading. The general spirit of breakout and trend-following is, however, left intact.
First of all, we have to identify the trending range, or the trading channel, whose breakout we are going to trade. For this purpose we used a digital filter. A novel feature of such approach is that the EA does not use bars of the price on any timeframe but filters the incoming price tick-by-tick. Because of this, the trading results do not depend to which timeframe EA is attached.
When the trading range is determined, EA sets pending orders on its borders, buy-stop on the upper border and sell-stop on the lower border. All trading orders have take-profit and stop-loss levels. When the breakout occurs, one of the pending orders is triggered and goes into market. Only one trading order can be in the market at a time. If the breakout turns out to be a false one, the order is closed by its stop-loss. In order to compensate this loss, the volume of the next order is increased. That means that the EA uses martingale. However, contrary to many other martingale-based EAs, the increase of the volume is justified in this case, since we know that soon or less the trading range should be broken and the true breakout will happen. Note that we do not care in which direction the true breakout will occur. Any strong move of the price will give us a take-profit, which will compensate (with a surplus) the losses we had accumulated during possible false breakouts.
What you need to do before trading with Forex Tramp
- EA needs access to the trading history (in order to calculate the closed drawdown due to false breakouts). In order to ensure EA’s access to the history of trades, select “Account history” tab in your MetaTrader terminal, right click on it and select option “All history” or “Last 3 months”. If you select option “Last month” (or it is selected by default), then EA won’t be able to see the trades of the previous month and will not take in account the possible drawdown accumulated during this time. (If today is the first day of the month, this might be very important.)
- Before attaching EA to the chart, check that there are enough quotes for this pair in your MetaTrader terminal. To do this, press the “Home” button and scroll the chart back for a couple of weeks. If you haven’t done this, EA might be lacking quotes and will display the message “No quotes” for some time.
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