The MoonWalker EA is an automated forex trading advisor that uses an intelligent nighttime scalping strategy, coupled with advanced money management and probabilistic analysis to execute trades. It supports a wide range of currency pairs and features such as automatic switching between pairs and advanced algorithms for tracking location.
In this review, we will take a closer look at the Moonwalker EA and provide an in-depth analysis of its features, strengths, weaknesses, and suitability for various types of traders. By the end of this review, you will have a better understanding of the Moonwalker EA and be able to make an informed decision on whether to use it in your trading portfolio.
MoonWalker EA Strategy
MoonWalkerEA is an automated forex trading advisor that utilizes a nighttime scalping strategy to execute trades. It is designed to trade multiple currency pairs, including AUDCAD, EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, GBPAUD, GBPCAD, GBPCHF, and GBPUSD. The EA is built with advanced money management and probabilistic analysis to minimize risk and potential losses.
The MoonWalkerEA strategy uses effective shock strategies to identify market trends and make informed trading decisions. It is equipped with advanced algorithms to track trade locations, modifications, and exits. The EA is programmed to use a single order at a time, avoiding martingale and grid strategies to minimize risk. Furthermore, it uses pending orders to reduce slippage, ensuring that trades are executed at the desired prices.
One of the strengths of MoonWalkerEA is its ability to automatically detect the time zone and daylight saving time, ensuring that it operates effectively in any market. Additionally, it uses multiple exit mechanisms and employs strategies with high profit/loss ratios to minimize losses.
Another strength of the EA is its strict use of stop-loss management, which guarantees that every trade is pre-determined, reducing the risk of large losses. MoonWalkerEA is also easy to use, requiring installation on only one chart to run multiple pairs. To manage risk, MoonWalker EA employs advanced money management techniques, which include strict use of stop-loss management.
However, like any trading software, MoonWalkerEA has some weaknesses too. The EA is programmed to work best in a specific trading environment and may not perform well in all market conditions. Furthermore, the requirement for an ECN account or hedge account may be a challenge for some brokers. Therefore, It is important to note that while the EA is designed to minimize risk, there is always the possibility of loss, and traders should use demo accounts to test the EA before committing real funds.
Moonwalker EA Features
- The EA employs a nighttime scalping strategy.
- It trades multiple currency pairs, including AUDCAD, EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, GBPAUD, GBPCAD, GBPCHF, and GBPUSD.
- Uses advanced money management techniques and probabilistic analysis.
- Operates in full automatic mode and automatically switches pairs every month.
- Moonwalker EA can detect the time zone and daylight saving time to operate effectively in any market.
- The EA uses one order at a time and avoids martingale or grid strategies to minimize risk.
- It avoids slippage by using pending orders to ensure trades are executed at desired prices.
- The EA employs advanced algorithms for tracking location, modification, and exiting.
- Uses multiple exit mechanisms and strategies with high profit/loss ratios to minimize losses.
- It strictly uses stop-loss management to guarantee that every trade is pre-determined and reduce the risk of large losses.
- Moonwalker EA can run multiple pairs on one chart and works with any time frame.
- The minimum deposit requirement for the EA is $50, with leverage of 1:500 and above.
- The EA requires an ECN account or hedge account to operate.
- It can be used with VPS visual Windows desktop.
Moonwalker EA Settings
- Lot Size: The lot size used for each trade.
- Max Spread: The maximum allowed spread for trades.
- Trading Hours: The time window during which the EA is allowed to open trades.
- Stop Loss: The maximum acceptable loss for each trade.
- Take Profit: The target profit for each trade.
- Trailing Stop: The distance between the current price and the stop loss level at which the stop loss will be moved.
- Trailing Step: The minimum price movement required for the trailing stop to adjust.
- Magic Number: A unique identifier assigned to each instance of the EA.
- Order Comment: A custom comment added to each order.
- Risk Management: The percentage of the account balance used for each trade.
- Currency Pairs: The currency pairs to be traded.
- Stop Loss Method: The method used for determining the stop loss level (e.g., fixed, dynamic).
- Take Profit Method: The method used for determining the take profit level (e.g., fixed, dynamic).
- Trading Style: The trading strategy used by the EA (e.g., scalping, trend following).
- Money Management: The method used for managing risk and allocating funds to trades.
- Trading Frequency: The frequency at which trades are opened.
- Slippage: The maximum allowable slippage for trades.
- Pending Order Expiration: The duration after which a pending order will expire.
- Pending Order Distance: The minimum distance between the current price and the pending order level.
- Pending Order Type: The type of pending order to be used (buy limit, sell limit, buy stop, sell stop).
- Pending Order Trigger: The price level at which the pending order will be triggered.
Moonwalker EA Summary
The Moonwalker EA is a forex trading advisor that uses a nighttime scalping strategy with shock tactics and advanced money management. Its strengths include automatic switching between pairs, advanced algorithms for tracking location, and multiple exit mechanisms. This type of robot will need a forex broker with tight spreads and low fees, such as IC Markets.
One of the EA’s weakness is that it is programmed to work best in a specific trading environment and may not perform well in all market conditions. However, It is important to demo test the EA and apply good risk management settings before using it on a live account. The Moonwalker EA is suitable for traders who are comfortable with a high level of risk and are looking for a comprehensive trading tool to add to their portfolio.
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