NoHedge EA is the best of two worlds
Where many traders often wonder weather to choose an Expert Advisor, a signal or just trade manually, well the NoHedge EA has all of that!
Using the D1 chart settings this forex strategy does not trade very often, however aims for 100 – 300 pips per trade. So in case you want to patiently wait for good entries, this is the strategy you are looking for. Since the algorithm is too complicated to program in MQL4, it works with signals The developer has been trying to make it a fully automated system, but dropped it after noticing the algorithm could not be coded. For many of the traders using this strategy, it is a feeling of relief, knowing that it always uses stop loss levels and profit targets and definitely improves your night sleep.
So how does this stratey work ?
This strategy tries to pick up trades when the trend is reversing. Once this happens it builds up the position where it handles market corrections. Lot size is 0.01 per $1K account size. All signals are either stop sell or stop buy orders so you will have enough time to enter it in your own MT4 platform. Once the positions becomes in the profit zone, it attempts to lock the profit using trailing stops. Don’t expect many trades.
What about money management?
This strategy uses standard risk settings which includes features like: stop loss, take profit, trailing stop. It uses by default lot sizes of 0.01 per $1K account size. So in case you trade this EA with $5K, it will use lot sizes of 0.05 per trade. Stop losses are usually set at 50-100 pips whereas the take profit targets aim for 200 pips or more. The EA “locks” profits once target levels are reached and will use trailing stops to enlarge the profit.
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