StrikeFx is a multicurrency martingale Expert Advisor (EA) of a new generation. With this EA, we tried to answer a very basic question of all traders that are using martingale-based strategies: Is it possible to use martingale and not be afraid of losing your deposit? We believe that the positive answer to this question does exist.
What are the differences of StrikeFx EA from other martingale EAs (including EAs by ARGOLab)?
1. This EA does not use any grid with a fixed distance between the orders (as Forex Warrior and Tricky Twister) or a fixed time interval between the orders (as FxSplitter). The distance between the orders can be arbitrary large (but not smaller than some minimum), and the time interval between the orders can also be arbitrary large (but not smaller than some minimum). EA constantly analyses the market conditions and adds new orders to the basket only if it is really necessary and, doing so, it enters the market by the best price.
2. This EA does not uses a prescribed take-profit level of the basket, fixed against the breakeven level or against the order with the best price. StrikeFx constantly re-adjusts the take-profit according to the market conditions.
3. EA can exit the market with a small loss in situations when the market "falls down" and price covers a large distance in short time.
4. The unique feature of this EA is the multicurrency trading with risk control. Strike Fx contains a specialized Control Center, which monitors the number of trading pairs, the number of trading currencies and the direction of trades. Based on this information, EA allows or prohibits opening of new baskets. Control Center restricts the number of currencies traded at the same time in the same direction. The default value is 1. This means that if EA is trading, say EURUSD long, it will not open any new XXXUSD baskets long or USDXXX baskets short (but can open XXXUSD baskets short). Apart from this, Control Center restricts the total number of trading pairs and open drawdown, for which opening of new baskets is allowed.
5. EA can fixate the losses, if the open drawdown on one pair reaches the maximal allowed value. In such situation, EA places the full lock on the basket and stops. Alternatively, EA can close all open orders and stop.
6. EA has a special algorithm of gentle lot increase, thus minimizing the risks of lot explosion. The first 3 orders of the basket are opened with the same lot size, and only then the volume of the orders start increasing. The typical lot sequence is: 0.10, 0.10, 0.10, 0.15,....