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Close All FIFO EA

Name: Close All FIFO EA - MT5 - FREE DOWNLOAD
Availability: InStock

Original price was: $299.00.Current price is: $0.00.

The Close All FIFO EA MT5 is an Expert Advisor designed for the MetaTrader 5 trading platform, which automates the process of closing multiple positions in a First-In, First-Out (FIFO) compliant manner. This tool is particularly useful for traders in regions where FIFO rules are enforced by regulatory bodies, ensuring that the oldest trade is closed first when multiple trades on the same instrument are closed simultaneously. By using this EA, traders can streamline their trading activities, save time, and maintain compliance with regulatory requirements, all while potentially reducing the risk of manual errors in trade management.📈

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Description
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Description

Close All FIFO EA MT5 Strategy

Overview

The “Close All FIFO EA MT5” is an expert advisor (EA) designed for MetaTrader 5 (MT5) that automatically closes all open positions based on specific criteria. Let’s delve into the details:

Minimum Deposit:
- The EA can be used with any initial deposit, but it’s recommended to have sufficient capital to withstand potential drawdowns.
Time Frame:
- The EA operates on any time frame, from M1 (1-minute) to higher time frames (e.g., H1, H4, or daily).
- Traders can adjust the time frame based on their trading preferences and risk tolerance.
Currency Pairs:
- The EA is versatile and can be applied to any currency pair available on MT5.
- Popular pairs like EUR/USD, GBP/USD, and USD/JPY are commonly used.

How the EA Takes Trades

The “Close All FIFO EA MT5” follows a simple yet effective strategy:

Profit Target:
- The EA monitors the total profit across all open positions.
- When the profit reaches a predefined target (specified in the EA settings), it triggers the closing of all positions.
- Note that the EA considers both winning and losing trades in the calculation.
Manual Positions Only:
- The EA closes only those positions that were opened manually by the trader.
- Positions opened by other scripts or expert advisors are not affected.
- This ensures that the EA doesn’t interfere with automated strategies.