AW Recovery EA is a forex trading robot or Expert Advisor (EA) that is designed to help traders recover their losses from previous trades. The software is programmed to analyze the forex market and use a set of algorithms to identify potential trading opportunities.
When the software detects a profitable trade, it will automatically place the trade on behalf of the trader. The EA also includes risk management features to help minimize losses and maximize profits.
This Expert Advisor can be purchased from the MQL marketplace whilst there is a free demo version also available to give it a try before making any commitment. In this article, I will be taking a look at how the AW Recovery EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Using the AW Recovery EA
The AW Recovery Expert Advisor is a system that is intended to recover losing positions. The author’s algorithm locks a losing position, divides it into many parts, and closes each one individually. One tool includes simple setup, delayed launch in the event of a drawdown, locking, disabling other Expert Advisors, averaging with trend filtering, and partial closure of a losing trade.
In contrast to grid strategies that close orders only in whole groups, the use of closing losses in parts enables you to reduce losses with a lower deposit load, ensuring safer work with losses.
How the AW Recovery EA Restores Orders
- To turn off unprofitable EAs, the EA closes other windows of the selected instrument (optional).
- The EA resets the TakeProfit and StopLoss levels for all processed orders and deletes any pending orders with the same identifier.
- The EA closes all profitable orders that have been processed in order to use their profit to cover a portion of the unprofitable orders and reduce the total position volume (optional).
- By opening a locking order, the EA secures a losing position.
- It then begins to reduce the loss by partially closing unprofitable orders by opening restoring orders.
- When the algorithm is partially closed, it restores the orders that are located the least successfully, or the unprofitable orders that are closest to profitability. Each unprofitable order is divided into several parts, which the adviser closes separately. Restoring orders are opened in small quantities so that the deposit is not overloaded.
Advantages of AW Recovery EA
- AW Recovery can accompany other advisors and switch them off when necessary.
- The EA locks the position, resets the TP and SL levels, and deletes any pending orders.
- Restores a losing part position, allowing you to work with a lower deposit load.
- Can be used to recover individual Expert Advisor losses or to work on the current symbol.
- For each situation, the robot combines functionality with simple and flexible settings.
- Many protective functions, such as trend filtering and overlapping, are built-in for risk management.
AW Recovery EA Features
- Recovery Algorithm: The EA includes a special recovery algorithm that is designed to recover losses from previous trades. When the EA detects a loss, it will automatically increase the lot size of subsequent trades in order to recover the loss.
- Risk Management: The EA includes various risk management features, such as stop loss and take profit orders, to help minimize losses and maximize profits.
- Trading Strategies: AW Recovery EA is designed to use multiple trading strategies, including trend following and counter-trend trading, to identify profitable trading opportunities in the forex market.
- Backtesting: The software includes a backtesting feature that allows traders to test their trading strategies using historical data to see how they would have performed in the past.
- Multiple Currency Pairs: The EA can be used to trade multiple currency pairs simultaneously, providing traders with more trading opportunities.
- User-Friendly Interface: The software has a user-friendly interface that is easy to navigate, making it accessible for both novice and experienced traders.
- 24/7 Support: The AW Recovery EA comes with 24/7 customer support to help traders with any questions or issues they may encounter while using the software.
AW Recovery EA Settings
- Lot Size: This setting determines the size of the trades that the EA will place. Traders can adjust the lot size based on their risk tolerance and account balance.
- Stop Loss: The setting determines the price level at which the EA will automatically close a trade.
- Take Profit: This setting determines the price level at which the EA will automatically close a trade to take profits.
- Trailing Stop: The setting allows the stop loss level to adjust as the trade moves in the trader’s favor. This can help lock in profits while still allowing the trade to run.
- Trading Hours: The EA can be set to trade during specific hours of the day. Traders should consider the volatility and liquidity of the market during these hours when setting their trading hours.
- Currency Pairs: The EA can be set to trade on specific currency pairs. Traders should consider the volatility and liquidity of the currency pairs they choose to trade.
- Recovery Mode: The EA includes a recovery mode that allows it to increase the lot size of subsequent trades to recover losses from previous trades. Traders should consider whether or not to use this feature based on their risk tolerance and trading strategy.
Conclusion
Overall, I see some potential with the AW Recovery EA. The EA avoids using any dangerous money management and the developer has shared some backtests for you to get an idea of how this EA has performed over recent years through different market conditions.
It is important to note that past performance does not guarantee good results. Therefore, I would only test the AW Recovery EA on a demo account using a trial version to begin with. This would allow me to get a feel for how it works and see if it fits within my own trading style.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
