The VMP Pro EA is a forex trading robot that uses price action and trend strategy to execute trades in the forex market. It automatically executes trades on five different currency pairs simultaneously. In this review, we will take a closer look at the VMP Pro EA, examining its strategy, features, and settings. By the end of this article, readers will have a better understanding of whether the VMP Pro EA is a suitable trading solution for their needs.
VMP Pro EA Strategy
The VMP Pro EA is a forex trading robot developed by Forex Advice Ltd. It is designed to take various market data such as price action, trend, CCI, PPO, and other fundamental indicators and analyze them together to execute a trade. The EA works on 5 forex pairs simultaneously and automatically opens and closes trades in the M1, M5, M15, and M30 timeframes.
Its main strategy is based on price action and trends. Price action trading involves analyzing the price movements of an asset over time. While a trend-based strategy involves identifying and following the direction of the overall trend in an asset’s price movements.
The VMP Pro EA trades on EURUSD, GBPUSD, AUDUSD, USDCAD, and USDCHF currency pairs on the MetaTrader 4 platform. One of the strengths of the VMP Pro EA is that it works with both the London and New York markets, increasing its trading opportunities. It also uses a non-martingale strategy and does not hedge, which helps reduce the risk of account loss.
One potential weakness is that its price action and trend-based strategies will struggle in markets with low volatility or erratic price movements, as they rely on consistent patterns and trends to generate signals. Additionally, trend-based strategies may be vulnerable to sudden reversals or shifts in market sentiment, which can result in losses.
The VMP Pro EA is worth considering for experienced traders who are looking for price action and a trend-based trading strategy. Before using the VMP Pro EA, traders should first demo test and apply risk management techniques to mitigate loss.
VMP Pro EA Features
- Analyzes market data using price action and trend strategy
- Works on five forex pairs simultaneously
- Compatible with MetaTrader 4
- Non-martingale strategy
- No hedging
- Easy to use
- Works with the London and New York markets
- Flexible settings for customization
- Automatic trade execution in M1, M5, M15, and M30 timeframes.
VMP Pro EA Settings
- Language: Select the language of the EA.
- StopLosspercent: Set the percentage of the account balance for stop loss.
- UseLotManual: Choose to use a manual lot size or not.
- Manual Lot: Set the manual lot size.
- Risk: Choose the risk percentage of the account balance.
- ProfitPips: Set the take profit in pips.
- MinPips: Set the minimum pips for trades.
- EURUSD: Set the preferred settings for the EURUSD currency pair.
- EURUSD_step: Set the step size for preferred settings for the EURUSD currency pair.
- GBPUSD: Set the preferred settings for the GBPUSD currency pair.
- GBPUSD_step: Set the step size for preferred settings for the GBPUSD currency pair.
- AUDUSD: Set the preferred settings for the AUDUSD currency pair.
- AUDUSD_step: Set the step size for preferred settings for the AUDUSD currency pair.
- USDCAD: Set the preferred settings for the USDCAD currency pair.
- USDCAD_step: Set the step size for preferred settings for the USDCAD currency pair.
- USDCHF: Set the preferred settings for the USDCHF currency pair.
- USDCHF_step: Set the step size for preferred settings for the USDCHF currency pair.
- Timeframe: Select the timeframe for trades.
- MaxOrders: Set the maximum number of open trades at any given time.
- TimeStart: Set the start time for trades.
- TimeEnd: Set the end time for trades.
- SpeedEA: Choose the speed of the EA.
- Magic: Set the magic number for trades.
- UseUPlot: Choose to display the EA’s trades on the chart or not.
VMP Pro EA Summary
In conclusion, the VMP Pro EA is a forex trading robot that uses a price action and trend strategy to execute trades on five different currency pairs. It has the ability to analyze market data in all aspects and is easy to use.
One weakness of the VMP Pro EA is that its trend-based strategy is vulnerable to sudden reversals or shifts in market sentiment, which can result in losses. Additionally, the EA only works with the MetaTrader 4 platform, limiting its compatibility with other trading platforms.
Therefore, it is crucial to thoroughly test the VMP Pro EA on a demo account before using it with real money and to apply good risk management settings. The VMP Pro EA is worth considering for experienced traders who are looking for an automated trading solution that uses a conservative strategy.
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.
