Price Action EA a Robot made for lazy traders
Price action ea trading has has become extremely popular over the years and many traders consider this as the ultimate way to make constant profits in the forex markets. So it only makes sense that EA developers were trying to build a stable price action ea. But first, what exactly is price action trading?
A price action trader observes the relative size, shape, position, growth and volume of the bars on an candlestick chart, starting as simple as a single bar, most often combined with chart formations. The use of price action analysis for financial speculation doesn’t exclude the simultaneous use of other techniques of analysis, and on the other hand, a minimalist price action trader can rely completely on the behavioral interpretation of price action to build a trading strategy.
How does this price action ea work?
The hybrid PA EA works almost the same as if you would trade manually using the price action trading method. Thus, when bars start to develop rapidly (and volatility increases) this EA enters the market. Each trade comes with a stop loss, take profit and trailing stop. However, they are coded as “hidden”. This means that neither the broker or the Liquidity Provider is able to see the money management settings. As you may not know, stop loss hunting still happens. So whats the point of sharing your entries and exits if you trade according to price action rules. It’s always better to keep your cards closed. The first step to understand this strategy is to back test it and see what it does. The trick is to avoid “false break outs” which happen a lot during trading sessions. So by back testing it, you can select your preferred settings.
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Make sure that before you start auto trading you understand the pitfalls of algo trading. Contact us for any questions that might arise.