The Forex Perk EA is an automated trading software that promises to provide a profitable trading solution for both beginner and advanced traders. It has been developed by a team of experts using multiple built-in indicators and price action, with an advanced recovery strategy in place to ensure trades are recovered using Dollar Cost Average and hedging. In this review, we will discuss the strategy, strengths, weaknesses, and possible settings of the Forex Perk EA. By the end of this review, the reader will have a comprehensive understanding of the Forex Perk EA and can decide if it is suitable for their trading needs.
Forex Perk EA Strategy
The ForexPerk EA is a 100% automated trading solution that uses multiple built-in indicators and price action to place trades with the highest probability of success. It works with EURUSD and GBPUSD currency pairs on the H1 time frame and is compatible with any brokerage, although it is recommended to use IC Markets as they have tight spreads and low commission fees which can help to save in trading costs over the long term.
This expert advisor also features an advanced recovery strategy that uses Dollar Cost Average and hedging to recover trades that go into the negative. Additionally, the EA has an automated lot sizing feature that calculates the lot size based on the deposit and limits possible drawdowns.
Installation of the ForexPerk EA is easy with an intuitive interface, and the creators offer 24/7 support until users have mastered the software. Verified results are provided, and free future updates are included.
Strengths of the ForexPerk EA include its automated lot sizing, advanced recovery strategy, and compatibility with any brokerage. The easy installation and intuitive interface also make it a user-friendly option. Furthermore, the expert advisor’s verified results provide transparency, allowing users to make informed decisions.
One potential weakness of the Forex Perk EA is that it relies heavily on automated trading and may not account for sudden market shifts or unexpected news events. While the EA does have an advanced recovery strategy in place, it may not always be able to react quickly enough to prevent significant losses in volatile market conditions. Additionally, the use of Dollar Cost Averaging and hedging to recover trades may lead to an increased risk of drawdown if not managed properly. Therefore, it is important for users to implement proper risk management strategies and thoroughly demo test the EA before using it on a live account.
As with any trading software, it is important to demo test the ForexPerk EA and apply good risk management settings to ensure that the expert advisor aligns with your trading goals and risk tolerance. While the ForexPerk EA shows promise, there are no guarantees in the forex market, and users should approach the EA with a realistic understanding of the risks involved.
Forex Perk EA Features
- Uses multiple built-in indicators and price action for trade entries
- Incorporates advanced recovery strategy using Dollar Cost Average and hedging
- Automated lot sizing for better risk management
- Works with EURUSD and GBPUSD pairs on H1 time frame
- Can be used with any broker (recommended ic markets)
- Requires a minimum deposit of $1000 for standard accounts
- Limits possible drawdown to ensure account safety
- Easy installation with an intuitive interface
- Comes with free future updates
- Suitable for both beginners and advanced traders
- Provides verified results
- 24/7 customer support
- Compatible with MetaTrader 4 platform
Forex Perk EA Settings
- Currency pairs: ability to choose which currency pairs to trade
- Lot size: option to set a fixed lot size or use automated lot sizing
- Stop loss: ability to set stop loss in pips or as a percentage of the account balance
- Take profit: option to set take profit in pips or as a percentage of the account balance
- Trailing stop: ability to use a trailing stop to lock in profits as the trade moves in the desired direction
- Recovery mode: option to enable/disable the advanced recovery strategy
- Max drawdown: ability to limit the maximum drawdown allowed by the EA
- Risk management: option to set a maximum risk per trade or per account
- Trading hours: ability to set specific hours during which the EA can trade
- Magic number: unique identifier for the EA’s trades
- Spread filter: ability to filter out trades based on the current spread
- Slippage: option to set a maximum allowable slippage for the EA’s trades
- Use of indicators: option to enable/disable the use of specific built-in indicators
- Trade frequency: option to set the desired frequency of trades
- News filter: ability to filter out trades during high-impact news events
Forex Perk EA Summary
Forex Perk EA is a 100% automated trading solution that utilizes multiple indicators and price action for placing trades with high probability of success. It also features an advanced recovery strategy to hedge against negative trades. The EA is suitable for beginners and comes with easy installation, automated lot sizing, and 24/7 support. The EA is compatible with EURUSD and GBPUSD pairs on H1 time frame, and works with any broker. Its strengths include verified results, free future updates, and automated risk management. Demo testing and good risk management settings are important to reduce the potential risks associated with trading robots. The weakness of the EA is that it may not be suitable for all market conditions. Forex Perk EA is for traders who want a hands-off approach to trading and are willing to take calculated risks. It is important to note that past performance is not indicative of future results.
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.