Learn2Trade EA is a scalping robot. It was primarily designed for intraday trading. With each new tick, this robot analyzes the market in real time. It determines the most efficient times to open new orders. It employs 87 different indicators to accomplish this. This is a massive animation module capable of receiving and processing massive amounts of data every second. The robot decides to open a trade after receiving and analyzing the data. It determines the maximum optimal lot size and places an order. Furthermore, the robot constantly monitors the transaction and adjusts its take profit and stop loss based on market conditions. The robot sends information to the trader over the phone after each transaction modification.
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 Learn2Trade EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.
Intraday Trading with Learn2Trade EA
Learn2Trade EA is a fully automated Metatrader 4 robot. This robot analyzes the market 24 hours a day using 87 indicators. When a good trading signal appears, the robot opens a trade automatically. To achieve the best possible result, the robot calculates the stop loss and take profit sizes. Following the opening of an order, the robot begins to control, accompany, and, if necessary, modify it. As a result, the robot maintains constant control over each transaction. If necessary, the robot will send the trader important trading information via email and push. For example, if the robot modifies an open order, it will automatically notify the trader, ensuring that the trader is kept informed at all times. When new orders are opened, the robot will also notify the trader. The robot will periodically send information about the status of the trading account to the trader via phone or email, allowing the trader to keep everything under his personal control. This feature sets Learn2Trade EA apart from some other trading robots that trade themselves but do not provide the trader with information on how the trade is progressing.
Intraday trading in forex, also known as day trading, involves opening and closing positions within the same trading day. The goal of intraday trading is to take advantage of small price movements in currency pairs and generate profits from short-term market fluctuations. Learn2Trade EA is designed for intraday trading.
Here are some key things to keep in mind when engaging in intraday trading in forex:
- Timeframe: Intraday trading typically involves using shorter timeframes, such as 5-minute, 15-minute, or 1-hour charts, to identify trading opportunities and make decisions based on price action.
- Volatility: Trading during times of high market volatility may be preferable, when currency pairs are more likely to move rapidly and offer more opportunities for profit.
- Risk management: Since intraday trading involves taking positions that are open for only a short period of time, it is important to have a solid risk management strategy in place. This may include using stop loss orders to limit potential losses, and only risking a small percentage of your trading account on each trade.
- Technical analysis: Intraday traders often rely on technical analysis to identify trading opportunities and make decisions based on chart patterns, indicators, and other technical factors.
- News and economic data: Keeping an eye on news and economic data releases, which can have a significant impact on currency prices and volatility, is important.
Learn2Trade EA Settings
- coefficient_smoothing – StopLoss smoothing coefficient for the current realities of various brokers.
- take_profit_ratio – TakeProfit smoothing coefficient for the current realities of various brokers.
- prof – fixing a specific profit. Expressed in the base currency of the account. When all open orders reach the profit specified in this parameter, they will be immediately closed.
- macd_1 – the first MACD parameter.
- macd_2 – the second MACD parameter.
- macd_3 – the third MACD parameter.
- sar – SAR indicator parameter.
- TrailingStop – specify the trailing stop in points. May not work with all brokers.
- increase – tick increase in trading volume. Works like the current false positive filter. Cuts off false signals.
- step – step price change in points.
- StopLoss – physical stop loss size.
- TakeProfit – physical take profit size.
- Lots – lot size of opened orders.
- spread – set the maximum spread. When the spread is greater than this value, the robot will not open new orders.
- Magic – a unique magic number for opened orders.
In conclusion, the Learn2Trade EA uses intraday trading strategy to automatically execute trades on behalf of the traders. Intraday trading in forex can offer traders the opportunity to profit from short-term price movements in currency pairs. However, it requires discipline, skill, and careful risk management, as intraday traders are exposed to significant volatility and liquidity risks.
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.