South East EA

South EAst EA determines position entry using virtual trade and does not use indicators, and it does not require complex settings because the user only needs to submit the already available setfile. There are currently setfiles for over 20 currency pairs, as well as two setfiles for GOLD and SILVER. The South East EA employs grid and martingale trading techniques, and also uses virtual stop loss and take profit levels.

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 South East 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 Grid and Martingale with South East EA

Trading grid and martingale are two commonly used strategies in forex trading.

A trading grid is a strategy where traders place multiple buy and sell orders at regular intervals above and below the current market price. The aim is to create a grid of orders that will capture price movements in both directions. Traders can profit from price movements within the grid, and they can also mitigate losses by having orders at different price levels. The South East EA automatically utilizes this strategy on the charts.

Martingale, on the other hand, is a strategy where traders double their position size after each loss. The idea is that eventually, a winning trade will occur, which will recover all the previous losses plus 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, and it also assumes that the market will eventually reverse in the trader’s favor. The South East EA also automatically utilizes this strategy on the charts.

Both trading grid and martingale strategies have their advantages and disadvantages. Trading grid can provide a more structured approach to trading, but it requires careful management and can also result in multiple losing trades. Martingale, on the other hand, can offer a higher 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 South East EA which implements these strategies.

South East EA is built to operate on virtual trades with global variables, and global variables will only be active during live trades. Smart Multi Symbol Control (SMSC) controls all charts that can control open positions, but this function is only available on live trades. News filter also only works in live trade; it prevents expert advisors from opening positions when there is high impact news.

South East EA
South East EA

South East EA Features

  • Martingale: Yes
  • Grid: Yes
  • Virtual Stoploss & Takeprofit: Yes
  • Trailing: Yes
  • Close Partial: Yes
  • News Filter: Yes
  • Money Management: Yes
  • Virtual Trade: Yes
  • Smart Multi Symbol Control: Yes
  • Holiday Control: Yes
  • Virtual Pending Order: Yes
  • Time Control: Yes

Conclusion

South East EA could be a beneficial trading robot for traders of all levels. It uses some risky trading techniques, so traders/investors may want to ensure that they are comfortable with grid and martingale trading before purchasing the robot.

Furthermore, it is important to note that past performance does not guarantee good future results. Therefore, I would only test the South East EA on a demo account using a trial version to begin with. This would allow me to get a feel for how it works and see if it fits within my own trading style. The South East EA is also an expensive trading robot compared to some other forex robots which I have previously reviewed.

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