The Monopolist EA is a Scalping Expert Advisor designed to work with short-term trades in the forex market. Its strategy is based on price action, aiming to make fast decisions while opening trades. This approach is intended for scalping, a trading method that focuses on making small profits from quick trades.
EA uses a built-in, multi-component algorithm created by its author. This algorithm processes market data in real time. This setup allows the EA to identify opportunities for entering and exiting the market quickly. The goal is to trade on instruments that have low spreads and show dynamic price movements.
Once a trade opportunity is found, the Scalping Expert Advisor opens a position after a minimal wait time. The robot can handle a fixed lot size or calculate the lot size automatically, depending on the settings. Users can keep the default configuration or change the settings based on their preferences.
Risk Management of Monopolist EA
The Monopolist EA does not use martingale or arbitrage strategies. This means it doesn’t double lot sizes after losses or rely on price inefficiencies between brokers. Each position is protected with a stop loss, which helps manage trading risk.
There is also a system in place that manages the size of open positions. This volume control gives the robot some flexibility in adjusting the trade size, depending on the market situation or the trader’s preferences.
Spread and Slippage Control
The Scalping Expert Advisor includes features to automatically monitor spread expansion (when the difference between the buy and sell price widens) and slippage (when an order is executed at a price different from expected). This is meant to avoid opening trades in less favorable market conditions.
Recommendations
- Minimum account balance of 100$.
- Works best on most major pairs. (Work on any currency pair)
- It works best on M5. (Work on any TimeFrame)
