Eve EA is a fully automated trading robot that comes with customisable settings. You can adjust the Eve EA to your preferences and risk levels. 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 Eve 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 Eve EA
The Eve EA utilizes a strategy which was designed to work on some currency pairs, including EURNZD, AUDNZD, EURAUD, GBPCAD, NZDCAD, EURGBP, USDCHF, GBPNZD, GBPAUD, and AUDCAD. The built-in algorithm will constantly analyse the currency pairs on which chart the EA is applied, searching the charts for buy and sell signals. When the Eve EA finds an opportunity, it can place and manage trades on behalf of the user.
The investor should be aware that the Eve EA does not use any dangerous methods of money management such as grid or martingale. Each trade has a predetermined stop loss and profit tracking. The algorithm works on multiple currency pairs at the same time that have a strong mean reversion trend and high profit targets. From 19:00 to 24:00, automation enters the market with market orders; it does not open trades during or after the rollover (0:00-1:00).
Eve EA employs a number of advanced Patterns and varying degrees of protection to determine entry and exit points. Each trade is safeguarded against slippage, spreads, and unfavorable broker conditions. Because this is an Open Algorithm, you can always make your own settings for different currency pairs. Furthermore, the EA owner recommends using Eve EA on good ECN brokers and with the aid of a VPS.
Advantages of Eve EA
- The EA does not employ grid, martingale, or other risky trading strategies.
- Each trade has a predetermined stop loss and profit tracking.
- The algorithm works on multiple currency pairs at the same time that have a strong mean reversion trend and high profit targets.
Eve EA Features
- Adaptive Trading Strategy: Eve EA uses an advanced algorithmic trading strategy that adapts to changing market conditions.
- Risk Management Tools: Eve EA includes a range of sophisticated risk management tools to help traders minimize losses and maximize profits.
- Customizable: Eve EA is highly customizable, allowing traders to adjust the system’s trading parameters to suit their individual trading preferences and risk tolerance levels. This helps traders to optimize the system to achieve their specific trading goals and objectives.
- User-Friendly Interface: Eve EA is designed to be user-friendly and easy to use. The system can be easily installed on the MetaTrader 4 (MT4) trading platform.
Overall, I see some potential with the Eve EA for anyone looking to trade automatically. The EA avoids using any dangerous money management and the developer has shared some backtests for you to get an idea of how the Eve EA has performed over recent years through different market conditions.
It is important to note that past performance does not guarantee good results moving forward. Therefore, I would only test the Eve 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. The Eve EA is also an expensive expert advisor compared to some other forex robots which I have previously reviewed.
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.