Forex Armor EA

The Forex Armor EA is a fully automated trading system that uses price action and technical analysis to make trading decisions. The EA is designed to work best on higher timeframes, and it doesn’t trade often, averaging no more than 1 to 3 trades a week.

This review will take a closer look at the Forex Armor EA, examining its features and performance. By the end of this review, you will have a clear understanding of whether the Forex Armor EA is the right trading system for you.

Forex Armor EA Strategy

Forex Armor EA is a fully automated EA that utilizes price action signals and Double OsMA for its trading strategy. This EA is usually sold for $649 and is designed to work best on higher timeframes. It trades infrequently, with an average of 1 to 3 trades per week.

Forex Armor EA
Forex Armor EA

One interesting feature of the Forex Armor EA is that if a trade goes against it, it opens an additional order for averaging. However, unlike other EAs that use martingale, Forex Armor EA employs the grid method but only allows a maximum of five trades at once, which can be adjusted on input parameters. While the Forex Armor EA employs the grid method, it’s important to note that this trading strategy can be risky and requires caution. It is also important to note that the orders are only in the market for a short period, around 1–3 days.

The Forex Armor EA uses Double OsMA and price action signals for its trading strategy. If the trend turns in the opposite direction, the EA will start its smart averaging strategy without martingale.

Forex Armor EA works best on currency pairs such as EURUSD, GBPJPY, and GBPUSD, but it can work on any currency pair. The EA also performs well on H1 and H4 timeframes, but it is also capable of working on any timeframe. To achieve stable results, the EA should work 24/7, so the developer recommends running it on a forex VPS. It is also recommended to use a low-spread ECN account such as IC Markets.

It is highly recommended to test the Forex Armor EA in a demo account for at least a week before using it in a real account. Traders should also familiarize themselves with how the Forex Armor Robot works to fully maximize its potential.

Forex Armor EA Features

  • It is a fully automated MT4 EA
  • It’s based on price action signals and Double OsMA
  • It trades best on higher timeframes and trades infrequently (average of 1 to 3 trades per week)
  • It opens an additional order averaging if a trade goes against it
  • It utilizes the grid method but allows a maximum of five trades at once (adjustable on input parameters)
  • It’s orders are in the market for a short time only (around 1 to 3 days)
  • The EA does not use martingale for its averaging strategy
  • It works best on currency pairs such as EURUSD, GBPJPY, and GBPUSD, but can work on any currency pair
  • It performs well on H1 and H4 timeframes, but can work on any timeframe
  • It works best when running 24/7 on a VPS for stable results
  • It is recommended to use a low spread ECN account such as IC markets

Forex Armor EA Settings

  • Forbidden day – Specifies the day of the week when trading is not allowed.
  • First lot – Determines the size of the first trade that the EA will place.
  • Order steps in pips – Sets the distance between the grid orders in pips.
  • Trailing start in pips – Activates the trailing stop function when the price moves a certain distance in pips from the trade’s entry point.
  • Trailing step in pips – Determines the distance in pips by which the trailing stop will trail the price.
  • Trailing stop in pips – Sets the distance in pips from the current market price at which the stop loss will be set.
  • Maximum order – Limits the maximum number of trades that the EA can have open at once.
  • Magic number – Assigns a unique identification number to the EA’s trades, allowing the user to distinguish them from other trades.
  • Trading hour start & stop – Specifies the time period during which the EA is allowed to place trades.

Forex Armor EA Summary

From a personal point of view, the Forex Armor EA seems to be a decent trading system for experienced traders who are looking for a fully automated trading solution. The EA uses a combination of price action and technical analysis to make trading decisions, and its smart averaging strategy without martingale allows it to manage trades.

One of the strengths of the Forex Armor EA is its ability to work well on higher timeframes, making it a viable option for traders who are looking to trade less frequently. Another strength of the EA is that it can work on any currency pair, and it uses a grid method, but only up to five trades at once.

However, there are also some weaknesses to consider. For example, the EA is quite expensive, with a price tag of $649. It is a risky EA, therefore extreme caution must be exercised while using it, especially in specific market conditions where it can potentially lead to losses if not used appropriately. Additionally, while the EA can be adjusted to work on any time frame, it still requires the trader to have a good understanding of risk management and apply it carefully.

Therefore, it is advisable to test the Forex Armor EA in a demo account for at least a week and apply good risk management settings before using it in a real account. The Forex Armor EA is not a get-rich-quick scheme, and there are no guarantees of success. Therefore, traders should use the EA with caution, apply good risk management practices, and have realistic expectations.

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