The BBMA Autotrading EA is a popular automated trading tool that is designed to help traders execute trades based on the BBMA trading strategy. The EA offers a comprehensive set of features, including market watch symbols, reverse signals, advanced reentry, complete signals, and more. In this review, we will take a closer look at the BBMA Autotrading EA, examine its strategy, strengths, and weaknesses, and provide insights on how to test and apply good risk management settings. By the end of this review, readers should be able to make an informed decision about whether or not the BBMA Autotrading EA is right for them.
BBMA Autotrading EA Strategy
The BBMA Autotrading EA strategy is an expert advisor designed to execute trades on various currency pairs based on the Bollinger Bands and Moving Average (BBMA) trading strategy. The EA is designed to work on one chart, either H4 or daily, and open positions on all pairs in the watchlist. The EA uses a profit target to close all trades, including manual trades and trades created by another EA.
The profit target is calculated in account currency, and the EA will recognize orders by MagicNumberBase. If the same MagicNumberBase is set, the EA will see all trades with this magic number, assign them SL and TP, and trail these orders. The EA sets SL and TP only once, and if SL and TP are already assigned, the EA will not change them. The EA also has settings for market watch symbols, stop loss, take profit, trailing stop, MA10h, MA5h, MA10, EMA50, and low price linear weighted.
One of the strengths of the BBMA Autotrading EA is that it uses a well-known and established trading strategy. The profit target feature also allows for clear and easy risk management. The weakness of the BBMA Autotrading EA is that it heavily relies on technical indicators and does not take into account fundamental analysis or news events, which can result in losses during periods of high volatility or unexpected market events. Therefore, traders are advised to demo-test the Expert Advisor before using it on a live account to minimize potential losses. Traders must also exercise proper risk management and not rely solely on the EA to make trading decisions.
BBMA Autotrading EA Features
- Works on one chart H4 or Daily
- Opens positions in all pairs in the watchlist
- Profit target is in account currency
- Closes all trades when profit target is hit, including manual trades and trades created by another EA
- Calculates profit for all trades, including those created manually or by another EA
- Includes swaps and commissions in the profit target
- Can use Profit Target Close All only (without individual stop loss and take profit for each order)
- Can set stop loss and take profit points to 0 to indicate “no use”
- Uses MagicNumberBase to recognize orders and assign SL and TP
- Sets SL and TP only once and does not change them if already assigned
- Can trail orders if trailing is active, but will not change SL if trailing is OFF
- Has a Reverse Signal feature
- Includes Advanced Reentry
- Allows for Complete Signal
BBMA Autotrading EA Settings
- Market Watch Symbols Only: The EA will only trade the symbols in the market watch list.
- Reverse Signal: Reverses the trading signal.
- Advanced Reentry: Allows the EA to re-enter a trade if it was closed due to a signal reversal.
- Complete Signal: Closes all trades if the signal changes.
- Order Amount Lots: The lot size for each trade.
- Stop Loss Points: The stop loss level in points.
- Take Profit Points: The take profit level in points.
- Profit Target Close All, Account Currency: The profit target in the account currency that will close all trades.
- Use Trailing Stop: Enables or disables the trailing stop function.
- Trailing Stop Threshold: The number of points the price needs to move in the EA’s favor before the trailing stop is activated.
- Trailing Stop Trail: The number of points the trailing stop follows behind the current price.
- Magic Number Base: The base number for the magic number.
- Slippage: Maximum slippage allowed for trade execution.
- MA10h: Moving average 10-hour period.
- MA Periods 10h: The number of periods used in the 10-hour moving average calculation.
- MA Price 10h: The price used in the 10-hour moving average calculation.
- MA Method 10h: The method used in the 10-hour moving average calculation.
- MA5h: Moving average 5-hour period.
- MA Periods 5h: The number of periods used in the 5-hour moving average calculation.
- MA Price 5h: The price used in the 5-hour moving average calculation.
- MA Method 5h: The method used in the 5-hour moving average calculation.
- MA10: Moving average 10-period.
- MA Periods 101: The number of periods used in the 10-period moving average calculation.
- MA Price 101: The price used in the 10-period moving average calculation.
- MA Price 5: The price used in the 5-period moving average calculation.
- MA Method 51: The method used in the 5-period moving average calculation.
- EMA50: Exponential moving average 50-period.
- EMA Periods: The number of periods used in the exponential moving average calculation.
- EMA Price: The price used in the exponential moving average calculation.
- EMA Method: The method used in the exponential moving average calculation.
- Low Price: The lowest price in a given time period.
- Linear Weighted: The method used in the calculation of the weighted moving average.
BBMA Autotrading EA Summary
The BBMA Autotrading EA is a customizable expert advisor that uses a combination of moving averages and advanced entry and exit strategies to execute trades automatically. Its strength lies in its flexibility and ability to trade multiple currency pairs simultaneously. It’s important to demo test the EA and apply good risk management settings to avoid significant losses. The weakness of the EA is that it’s only as good as the user’s settings and strategy.
The BBMA Autotrading EA is suitable for experienced traders who are looking for an automated MT4 trading robot that they can customize to fit their trading style. However, there are no guarantees or promises of profitability, and users should be cautious when using any expert advisor.
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