EA Papeda

The EA Papeda is an expert advisor that is designed to execute trades in the Forex Market. It can trade on multiple currency pairs using a scalping strategy on the MetaTrader 4 (MT4) platform.

In this review, we will provide an in-depth analysis of the EA Papeda, its strategy, features, and settings. By the end of this review, you’ll be able to make an informed decision about whether or not to use the EA Papeda.

EA Papeda Strategy

The EA Papeda is a multi-currency scalping trading robot that uses price action analysis to identify trading opportunities on the MetaTrader 4 (MT4) platform. It employs a reversal trend trading strategy, which involves identifying the trend direction, and opening and closing trades quickly when the price moves against the trend.

EA Papeda
EA Papeda

The EA Papeda can trade any Forex currency pair, but the EURUSD is recommended by the developer. It is designed to work on the M15 time frame. The EA uses money management techniques such as averaging and soft martingale when the price moves against the trade direction.

The recommended account type by the developer is a narrow spread account such as IC Markets broker. There is also a recommended leverage of 1:100 or more, as stated by the developer.

However, one weakness of the EA Papeda is the use of averaging and soft martingale, which can still lead to large drawdowns and losses. The EA can be more prone to overtrading, leading to higher commission costs and potentially significant losses if the market moves against the position.

The EA Papeda is worth considering for experienced traders who want to automate their scalping trading strategies and diversify their portfolios. However, it is important to thoroughly demo-test the EA and apply good risk management settings to minimize losses.

EA Papeda Features

  • Uses a scalping strategy for Forex trading
  • Compatible with the MT4 platform
  • Works with any Forex currency pair
  • Timeframe for trading ranges from M15 to H1
  • Uses soft martingale for money management
  • Uses additional trading operations such as averaging when quotes go against the trading direction

EA Papeda Settings

  • Auto Lot: This setting allows the EA to automatically calculate the lot size for each trade based on the available funds in the trading account.
  • Lot Risk: With this setting, the trader can specify the amount of risk per trade in the percentage of the account balance.
  • Base Lot: This setting defines the base lot size for each trade.
  • Target Profit Money [0 = false]: This setting enables the trader to set a target profit amount in account currency. If set to 0, this setting is disabled.
  • Target Profit Pips [0 = false]: This setting allows the trader to set a target profit level in pips. If set to 0, this setting is disabled.
  • Maximum Loss %Equity [0=false]: This setting allows the trader to specify the maximum percentage of the account balance that can be lost on a single trade. If set to 0, this setting is disabled.
  • Close %Profit: With this setting, the trader can specify the percentage of profit to close a trade.
  • Profit %Equity: This setting enables the EA to close all open trades when the account equity reaches a certain percentage of profit.

EA Papeda Summary

The Papeda EA is a multi-currency scalper that uses trend and reversal trading strategies to trade Forex currency pairs on the MT4 platform. It is less susceptible to larger market movements since they only hold positions for a short period. However, the EA can be highly dependent on trading conditions due to its scalping strategy. During low liquidity or high volatility in the market, the EA will not be able to execute trades as quickly, leading to missed trade opportunities or losses.

Overall, the Papeda EA is worth considering for traders who are comfortable with automated trading systems and are willing to take calculated risks. However, it is important to exercise caution and demo-test the EA before using it for live trading.

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