Limitless EA

Limitless EA is a martingale-based EA with a lot of configuration options to tailor your martingale strategy to your personal risk profile.

In this article, I will be taking a look at how the Limitless EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.

Trading Martingale with Limitless EA

In probability theory, a martingale is a sequence of random variables for which the expected value of the next variable in the sequence, given all the previous variables, is equal to the current value.

Martingale is a popular trading strategy that involves doubling your position size after each losing trade, with the aim of recouping your losses and making a profit when the market eventually moves in your favor. The idea behind the Martingale strategy is that, over time, the market will eventually move in your favor and your winning trades will be larger than your losing trades, allowing you to make a profit. However, this strategy is highly risky, as it requires a trader to have an infinite amount of capital to keep doubling their position size. The Limitless EA automatically implements the martingale trading system for the traders when applied on the charts.

Trading with the martingale system have both advantages and disadvantages. Martingale can offer a high reward-to-risk ratio, but it is highly risky and can result in significant losses if the market does not reverse in the trader’s favor. Traders may want to carefully consider their risk tolerance and trading goals before purchasing the Limitless EA which implements this trading system.


Limitless EA
Limitless EA

Limitless EA Settings

  • Profit Target for each Order – Profit target in fractional pip for every open order.
  • Starting Lots – The lot size for first order. The lot size will increase in the subsequent order. You must set this with a ratio of USD2000 capital for 0.01 lot.
  • Maximum # of trades – Maximum number of orders the EA allow to open in on Martingale series of order. You can lower this number to reduce risk and the chance of MC. Lower number of this value will increase the chance that the work will not able to close as it is too far from target profit.
  • Max Spread Allow – Only will open order if the spread is within this value. Change it based on your broker’s spread.
  • *Enable Last Trade – If this is enabled (set to true), no new order will open after the orders series are closed. Handy when you want it to stop trading after the current orders are closed.
  • Magic Number – Unique identifier for orders traded by this EA.
  • *Next Pipsgap – The minimum pips gap to have from the last traded entry price. Default set to 0. 0 will use its default logic for next pipsgap which is between 25-50.
  • *Lot Multiplier  Lot size multiplier for next order. Increase this number will make your orders target price always very close to target price and easier to close, but it will increase the chance of MC if the trend didn’t rebound.
  • *Re-update Profit Target – If you set to yes, it will recalculate your profit target and update all TP for opening orders. It will only run once when you click ok on the configuration panel. This is useful when you change your profit target, or you close certain opening order manually.

* This feature only available in full version.

Conclusion

Limitless EA is a forex robot which uses the martingale strategy to execute trades automatically for traders/investors. This expert advisor is currently available for free in the MQL marketplace. You may want to test this EA on a demo account first before applying it on a real account.

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