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.
Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀
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