Gainer EA is a fully automated trading robot for the MetaTrader platforms that comes with customisable settings. You can adjust the Gainer 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 Gainer 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 Gainer EA
Gainer EA is an algorithmic trading system that uses technical analysis indicators to identify trading opportunities in the market. This trading robot is designed to operate on the MetaTrader platforms, which is one of the most popular trading platforms used by traders worldwide. Gainer EA is based on a set of predefined rules and trading strategies that are programmed into the software. These rules and strategies are designed to help traders take advantage of market fluctuations.
Gainer EA is a fully automated trading system. Once the system is activated, it will scan the market for potential trading opportunities based on the predefined rules and strategies programmed into the software. The system will then execute trades on behalf of the trader based on the trading signals generated by the algorithm.
Gainer EA Settings
- Timezone settings for brokers: “Winter UTC offset, hours” denotes the winter offset. “Winter/summer changes schedule” – server DST shift schedule. It is UTC+2/+3 winter/summer by default, and it is accepted by the majority of brokers.
- Risk parameters: Volume is determined by the inputs “Money management,” “Value for Money Management,” and whether it is a fixed lot, a fixed risk per trade, or a fixed volume per 1000 equity. The maximum number of simultaneous trades allowed is the number of trades that can be opened at the same time. Most of the time, the EA holds up to 2-3 trades, and this parameter allows you to explicitly limit the risk.
- Spread command: If the option “Enable spread control” is enabled, the EA will not trade if the current spread exceeds the “Max allowed spread” value. The spread can be specified in pips or as a percentage of the current price. (“Spread unit” input). For major currency pairs, the default settings may be used. The EA will not skip trades on the regular market while avoiding trading on untested market conditions with wide spreads.
- Stops and targets: “Stop-loss value” and “Take-profit value” are the initial stop-loss and take-profit amounts. Stop-loss and take-profit levels can be specified in pips or percentages of the current price. (“Stop-loss and take-profit unit” input). While EA is optimized on defaults, different tradable settings are quite possible.
- Breakeven: If “Enable breakeven” is enabled, profit will be dragged to trade open price level + “Profit to save, pips” once “Profit trigger, pips” profit is reached. It is a pullback EA, and the breakeven is disabled by default.
- Trail: If “Enable trail” is enabled, the distance between the current price and the stop-loss is calculated when “Profit trigger, pips” is reached. If the distance exceeds “Trail distance, pips,” the stop-loss is dragged to a new level. The “Trail step, pips” input specifies the smallest difference between the current and new intended stop-loss. Trail, like breakeven, is turned off by default.
- Options for time: By default, the EA trades around the clock. The user can further specify which days of the week and hours of the day are tradable. (“Nontradable hours, space-separated list”, “Trade on Sundays”, “Trade on Mondays”, etc). “Friday closing time” allows you to specify the time at which all trades must be closed before the weekend.
- Backtesting: The EA trades on candle closure and can be tested with “Open prices only” mode, which is much faster than “Every tick” mode and produces essentially the same results.
Gainer EA Summary
Gainer EA is a popular automated trading system designed for the MetaTrader platforms. This trading robot uses technical analysis indicators to identify trading opportunities in the market and execute trades based on predefined rules and strategies. While there are benefits to using Gainer EA, such as its fully automated nature and ability to diversify a trader’s portfolio, there are also drawbacks, such as the risk involved and lack of flexibility. Traders have to weigh the benefits and drawbacks of using Gainer EA and determine if it is the right trading system for their individual needs and risk tolerance.
It is important to note that past performance does not guarantee good results moving forward. Therefore, I would only test the Gainer 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 Gainer EA is also quite expensive compared to some other forex robots which I have previously reviewed.
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