The BSS Forex Market EA is an automated trading system designed for use on the MetaTrader 4 platform. It uses a proprietary trading strategy that takes advantage of buy/sell trends found in the M5 and M15 charts for four currency pairs: EURUSD, USDJPY, EURGBP, and EURCHF.
In this review, we’ll take a closer look at the BSS Forex Market EA’s features, performance, and risk management. We’ll examine the EA’s settings and explain how they can be customized to suit individual trading preferences. By the end of this review, readers should have a comprehensive understanding of the BSS Forex Market EA and be able to make an informed decision on whether to use it for their trading needs.
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BSS Forex Market EA Strategy
The BSS Forex Market EA is a proprietary trading system designed for use on the MetaTrader 4 platform. It is programmed to identify buy/sell trends on the M5 and M15 charts in four currency pairs: EURUSD, USDJPY, EURGBP, and EURCHF. The robot re-enters trades in the direction of larger market trends and avoids automated trading in range-bound markets.
The EA uses a combination of martingale and other methods for its trading strategy, which may result in higher risk. Martingale is a high-risk trading strategy that involves increasing the position size after a losing trade in order to recoup losses, which can lead to large drawdowns if not managed properly.
One of the strengths of the BSS Forex Market EA is that it works on any account type. However, to achieve stable results, the developer recommends running the EA on a reliable forex VPS without any interruptions 24/7. This ensures that the robot is always online and able to react to market conditions in real-time.
One of the weaknesses of the EA is its use of martingale, which can increase the risk of drawdowns and losses. Additionally, the EA only works on four currency pairs, which may limit its versatility for traders who prefer to trade other currency pairs. In terms of risk management, the BSS Forex Market EA uses stop loss and take profit levels to manage risk. Traders can also adjust the risk settings to suit their individual risk preferences.
Before using the BSS Forex Market EA in live trading, traders can test the EA’s performance in a demo account. This allows traders to evaluate the EA’s performance and determine whether it meets their trading goals and risk tolerance.
BSS Forex Market EA Features
- It is a proprietary trading system designed for use on the MetaTrader 4 platform.
- The EA uses a combination of martingale and other methods to execute trades.
- The robot identifies buy/sell trends in the M5 and M15 charts for four currency pairs: EURUSD, USDJPY, EURGBP, and EURCHF.
- The EA re-enters trades in the direction of larger market trends.
- The BSS Forex Market EA uses stop loss and take profit levels to manage risk.
- The EA is designed to avoid automated trading in range-bound markets.
- The EA works on any account type.
- The developer recommends running the EA on a reliable VPS to ensure stable results.
- The BSS Forex Market EA can be customized based on individual risk preferences.
- Traders can test the EA’s performance in a demo account before using it in live trading.
BSS Forex Market EA Settings
- Lot: Fixed lot size for each trade
- AutoLot: Automatic lot size based on account balance and risk percentage
- Capital Risk percent: Percentage of account balance to risk per trade
- MaxSpread: Maximum allowed spread for opening trades
- SleepTime: Time to wait before opening trades after abnormal spread
- ProfitTarget: Daily percentage profit target to close all trades
- Delta: Maximum distance in pips to set pending orders
- maxDuration: Maximum duration in seconds for pending orders
- StopLoss: Stop loss in pipettes (10 pipettes = 1 pip)
- TakeProfit: Take profit in pipettes
- TrailingStop: Trailing stop in pipettes
- TrailingStep: Trailing stop step in pipettes
- MAGIC: Magic number to identify trades opened by the EA
- Slippage: Maximum allowed slippage for opening trades
- StartHour: Starting hour for EA to begin trading (in server time)
- EndHour: Ending hour for EA to stop trading (in server time)
BSS Forex Market EA Summary
The BSS Forex Market EA is a MetaTrader 4 automated trading system that uses a proprietary trading strategy to take advantage of buy/sell trends in M5 and M15 charts for four currency pairs. Its strengths include re-entering trades in the direction of larger market trends and customizable settings. While its weakness lies in its use of martingale, which is a high-risk strategy.
Demo testing and good risk management settings are recommended to minimize risk. The BSS Forex Market EA is suitable for traders with some experience in automated trading and who are willing to manage the risks. However, there are no guarantees of profitability, and traders are advised to consider the risks before using it.
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