The Mekamaina EA is a fully automated forex trading robot that employs various strategies, including the use of round numbers, analyzing candle closing, and monitoring volume, to identify potential trading opportunities. Additionally, the EA trades high-impact news events, aggressive scalping, day trading, and swing set files, making it suitable for traders with different trading styles.
In this article, we will provide a comprehensive review of the Mekamaina EA, highlighting its strengths and weaknesses, risk management features, and settings. Our objective is to provide traders with an in-depth understanding of the robot and help them decide whether it is suitable for their trading style and preferences.
Mekamaina EA Strategy
Mekamaina EA is a fully automated, hands-free forex trading robot that utilizes various strategies to trade the forex market. The EA is designed to execute trades with just two buttons and three unique set files that include aggressive scalping, day trading, and swing set files. Additionally, it trades high-impact news events, providing traders with an opportunity to benefit from market volatility during these periods.
One of the primary strategies employed by the Mekamaina EA is the use of round numbers. The robot analyzes the price action around significant psychological levels such as whole numbers and half numbers. This approach helps identify potential support and resistance levels, which can be used to determine entry and exit points for trades.
Another important strategy is analyzing candle closing. The EA monitors the closing price of the candlesticks to identify trend reversals or continuation patterns. Additionally, the Mekamaina EA considers volume as a key factor in its trading decisions. The robot monitors the trading volume to identify significant price movements and to determine the strength of the prevailing trend.
The Mekamaina EA primarily trades during the New York session, which is known for its high liquidity and volatility. This approach ensures that the robot trades during a period when there is significant price movement. Additionally, The EA has a built-in filter to avoid high-impact news events, which can lead to market volatility and unpredictable price movements. This feature helps to minimize the risk associated with news events.
One weakness of the Mekamaina EA’s strategy is its reliance on round numbers and candle closing analysis. While these strategies can be effective in certain market conditions, they may not always accurately predict price movements or capture all potential trading opportunities. Market dynamics can be influenced by various factors, including unexpected news events, market sentiment, and other technical indicators, which may lead to false signals or missed trading opportunities.
Traders using the Mekamaina EA should exercise caution and consider supplementing the strategy with additional indicators or performing manual analysis to confirm trade signals and optimize performance.
Mekamaina EA Features
- Fully automated forex trading robot
- Hands-free trading with just two buttons and three unique set files
- Trades high-impact news events, aggressive scalping, day trading, and swing set files
- Uses round numbers to identify potential support and resistance levels
- Analyzes candle closing to identify trend reversals or continuation patterns
- Monitors volume to determine the strength of the prevailing trend
- Built-in filter to avoid high-impact news events
- Primarily trades during the New York session
- Does not stack trades
- Includes stop-loss and take-profit features for risk management
- Money management system that adjusts the lot size based on the available trading capital
Mekamaina EA Settings
- Lot size: Automatic lot calculation or ability to fix a specific lot size for trades
- Maximum number of trades: Limit on the maximum number of trades to open at once
- Time settings: Start and end times for trading activity during the New York session
- News event trading: Ability to trade during high-impact news events
- News filter: Built-in filter to avoid trading during high-impact news events
- Comments: Ability to add comments to trades
- Magic number: Unique identifier for trade identification
- Opposite direction logic: Option to open trades in the opposite direction
- Spread filter: Filter to avoid trading during periods of high volatility
- Trailing stop: Option to use trailing stop with adjustable settings
- Breakeven function: Ability to activate breakeven function for trades
- Profit targets: Take profit level in points
- Stop loss: Stop loss level in points
Mekamaina EA Summary
In conclusion, the Mekamaina EA is a fully automated forex trading robot that incorporates various strategies, including round number analysis and candle closing analysis. It offers traders the convenience of executing trades with just a few clicks and provides different set files for different trading styles. The EA’s focus on trading during the New York session and its built-in news filter contribute to managing risk during volatile market conditions. However, traders should be aware of the limitations of the chosen strategies and exercise caution in their trading decisions. Regular monitoring and adjustments may be necessary to optimize performance and adapt to changing market dynamics.
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.
