Venom EA

To trade the Forex market autonomously, the Venom EA Forex robot for Metatrader 4 employs a martingale trading strategy with a digital filter. The Venom EA works with any Forex broker and on all time periods. You may want to use this EA on a demo account first, as always, until you fully grasp how it works and how it performs over time.

In this article, I will be taking a look at how the Venom 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 Venom 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 Venom 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 Venom EA which implements this trading system.


Venom EA
Venom EA

Venom EA Specifications

  • The trading robot works on all currency pairs.
  • The trading robot can be used on all timeframes.
  • The trading robot works on the Meta trader 4 trading terminal.
  • The trading robot can be used on a demo account.
  • The trading robot can be used on a real account.

Venom EA Input Parameters & Settings

By going to the EA’s “Inputs” page, you can change the following input parameter values:

  • Lots
  • Account risk cut
  • Account profit cut
  • Progression
  • Magic
  • User slippage
  • Grid size
  • Extract profit
  • Profit lock

Conclusion

Venom EA could be a beneficial trading robot for traders of all levels of experience. The developer of this forex robot has also shared some backtests for you to get an idea of how the Venom EA has performed over recent years through different market conditions. The martingale strategy which this trading robot uses is a risky strategy, therefore the traders may want to ensure that they are comfortable with this trading method before purchasing the Venom EA.

In addition, it is important to note that past performance does not guarantee good future results. Therefore, I would only test the Venom 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.

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