In December 2020, EAKING, a forex enthusiast, released the PursuitFX EA, which is a pre-developed EA. Upon its release, the EA underwent free testing for several weeks, and features were added based on feedback from early testers. Finally, this forex robot was introduced to the public.
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PursuitFX EA Features
- Works on MT4 trading terminal
- Fully Automated
- Automatically enters the trades.
- Automatically set SL/TP.
- Works best on M30, 1hrs, 2hrs.
- Set weekly and monthly target
- Low Drawdown, As good risk management
PursuitFX EA Strategy
PursuitFX EA utilizes a unique grid trading strategy that focuses solely on slow volatility pairs to try and minimize the risk of its overall system. By targeting these pairs, the EA aims to avoid sudden market fluctuations that can result in significant losses. The grid trading approach involves placing multiple trades at predetermined price levels, creating a grid-like pattern on the chart. The EA uses this method to open and close trades at specific levels, aiming secured trade placement from price movements within a set range. With the focus on low volatility pairs, the EA aims to achieve a more stable and consistent performance, attempting to reduce the risk of sudden drawdowns over the long term.
PursuitFX EA Package Inclusion
- License for both real and demo accounts.
- Foreign exchange robot.
- Operating guidelines.
- VPS server that requires payment.
PursuitFX EA Account Requirement
- Minimum Account Balance: $100 – This is the minimum amount of money required to open an account with the trading platform. It means that a trader needs to have at least $100 in their account to start trading.
- Account Leverage 1:500 – The amount of leverage available to the trader. A leverage of 1:500 means that for every $1 of the trader’s account balance, they can trade up to $500 in the market. This allows traders to control larger positions with a smaller amount of capital, but also increases the risk of losses.
- Optimized for: Major Pairs – The currency pairs that the trading system has been optimized to work with. Major currency pairs are the most commonly traded pairs in the forex market, and they include pairs like EUR/USD, GBP/USD, and USD/JPY. The system is likely to perform best when trading these pairs.
- TF: 30M-4H – The timeframes that the trading system is optimized to work with. The system is designed to work with timeframes ranging from 30 minutes to 4 hours, meaning that the trading signals generated by the system are based on price movements within these timeframes.
- Trading Hours: 24/5 – This refers to the hours during which the trading system is active. The system is designed to trade 24 hours a day, 5 days a week, taking advantage of market opportunities as they arise. However, it does not trade on weekends, as the forex market is closed during that time.
PursuitFX EA Input and Parameters
| Setting | Description |
|---|---|
| Direction | Determines the direction of trades: OnlyLong (buy trades only), OnlyShort (sell trades only), or LongAndShort (both). |
| Timeframe In | Specifies the timeframe used for identifying trade opportunities. |
| Takeprofit Type | Determines how the take profit level is calculated: Tp_Tick (current tick price) or Tp_Bar (price of next bar). |
| Volume | Specifies the lot size for trades. |
| Vol_Fix | Sets a fixed lot size for each trade (Volume Fixed Value). |
| Vol_Rel | Determines lot size based on account balance and relative value (Volume Relative Value). |
| Volume Fixed Value | Specifies the lot size if Vol_Fix is selected. |
| Volume Relative Value | Specifies the relative value if Vol_Rel is selected. |
| Levels | Determines the stop loss and take profit levels. |
| Stoploss | Sets the stop loss level in points. |
| Takeprofit | Sets the take profit level in points. |
| Takeprofit Position | Sets the position of the take profit level. |
| Takeprofit 2 | Sets a second take profit level in points. |
| Grid | Sets the distance between trades in points. |
Conclusion
The PursuitFX EA employs a distinctive grid trading strategy that concentrates on pairs with low volatility to reduce the possibility of sudden market shifts and substantial losses. The EA is completely automated, with automatic trade placement and predetermined SL and TP levels. The strategy aims to maintain a low drawdown and good risk management. It performs on the MT4 trading terminal and timeframes of M30, 1hr, and 2hr, which makes it an attractive choice for those who do not have the time to trade forex manually.
I’m a self-confessed Forex geek who spends countless hours researching, testing, and reviewing everything related to trading. With many years of experience in the Forex industry—and thousands of robots, brokers, strategies, and courses put to the test—I’ve seen what works and what doesn’t. My goal is simple: to share that knowledge with you for free, so you can navigate the exciting (and sometimes crazy) world of Forex trading with more confidence.
