Forex envy settings
The ForexEnvy MT4 EA is a forex expert advisor.
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I was once a member of PAMM account, initially there were good profits, but one night everything wiped out! Out the all the currency pairs best is EURUSD, how ever GBPUSD following results were noted. Overall this is a very good and powerful EA, Support team is very good and respond to any questions you have promptly number of times they remote into my PC using team viewer credentials fixed issues. Team also send weekly outlook for currency pairs advising what currency pairs should run with which mode, this is even good for your manual trades also if you are trading manually with another acc.
The EA has freeze after TP feature which is very useful if you do not want to trade after TP and also server news feature before and after potentially damaging news EA will not trade and also if you want to use chicken out feature that is if you are in a hurry to save equity would close all the existing trades.
How to tame this Down.
Ultra mode only run on one currency pair only I prefer EURUSD and only in good news days for this currency pair do not run all the time. My favorite is mode 6 only in good news days with default settings will make money for you without doubt. One currency pair for me EURUSD at a time. Do not get greedy go steady and with patients this EA will make money compared other garbage out there. If you are new trader then mode 1 with default settings for EURUSD once you know what you are doing mode 6 with default settings and as mentioned ultra mode on good news or no news days I run this in ea in manual mode with my own settings in live and demo with very good results.
In manual mode I have following settings Lot size -. Only time these setting would cause you issues is if the market is trending back and forth repeatedly, that is NOT how market usually behaves as it will react to a good a or bad news and price goes up or down dramatically this is when people loose money above setting will counter such moves if the market is less volatile then it will keep making small profits slowly that is also good.
I only run mode 0 in GDPUSD other currencies I am not good at ready the trend patterns, I stick to what I know and I know how GDPUSD trend patters work with above settings.
I have forward tested above mode 0 settings in demo for two weeks and had a profit and then back tested the same settings and I got a loss with both brokers. I do not know for sure why this had happened , likely data is poor quality I think when back tested.
Hope above help someone out there, please ensure you forward test few months before going live, I make money with this EA, so far so good I do not know what future holds.
If you want to be super safe with mode 0 manual settings you can change lot size to. Forex Envy is a great martingale EA, you must use Long HV only with deafult setting and XEMarkets swap free account to get consistent profit with this EA.
Using Power, Ultra, Short, NV or LV is not recommended. And as a trader, you need to be patient. Forex Envy is really stepping their game up with Ultra and Enduro.
Very pleased they keep improving their EA for all of us! Forex Envy is making good profits and they respond quickly to emails. Lots of different modes to pick! I started using this robot in the beginning of October with 3 demos and 3 live accounts using HVs and power.
The results have been amazing so far. I think this EA is better than many other EAs out there. It would be great if there was a function that closed the baskets when it reaches a point where there is no loss and no gain in case you want to get out of that basket.
Overall, I think this EA is great and I will keep using it. Keep it up team envy! I find this EA one of the most profitable there are out here.
Forex Envy Performance Tests
Traders have to know how to use this tool. Personally I will definitely keep using FE since we have made a good Net profit overall, cant wait for their new version. Hope it does not take forever I have been using Forex Envy power 3. Recently, They upgraded to Endura power 3. I will upgrade to power 3. I don't get why there is so much complaining about this EA. Forex Envy is VERY upfront about the risks and how to use their system.
I have used Tom's EA and Forex Hacked, Envy is much better than both of those EA's, and I am making money. I installed version 3.
I'm glad they keep updating this EA and making improvements. Unbiased Forex Broker Experts. Review and Ratings Trading Software ForexEnvy.
Forex Robot , Performance Tested.
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