Mission Profit EA MT4

Description

Mission Profit EA MT4

The Mission Profit EA is a free forex robot that has been designed to help traders enter and exit trades based on strict price action rules. Developed for use on both MT4 and MT5 trading platforms, the Mission Profit EA is a swing-based volatility breakout system that looks for strong price movements and trend reversals.

This review aims to provide traders with a comprehensive overview of the Mission Profit EA, including its features, strengths, and weaknesses. Through an analysis of the EA’s performance, risk management strategies, and demo results, readers will be able to decide whether or not the Mission Profit EA is suitable for their trading needs.

Mission Profit EA Strategy

The Mission Profit EA is a forex robot that was developed for use on both MT4 and MT5 trading platforms. It is a swing-based volatility breakout system that uses strict price action for entering trades. The EA is designed to work best on a number of currency pairs including EURUSD, USDJPY, GBPUSD, EURGBP, AUDUSD, AUDCAD, NZDUSD, EURJPY, EURCHF, and CADJPY, on H1 timeframe, although it can work on any timeframe.

The Mission Profit EA looks for strong price movements and trend reversals, and it will monitor four time frames at the same time. It places a maximum of one order at a time and each trade will have a predefined stop loss and take profit. In addition, the Meta Trader 4 and Meta Trader 5 trading software use various trade management techniques to enhance the EA’s performance.

One of the strengths of the Mission Profit EA is its strict adherence to price action, which can help avoid false signals. However, as with any trading system, there are also some weaknesses.

The main weakness of the Mission Profit EA is its potential for big drawdowns if not properly managed. Since the EA is designed to enter trades based on price action, it can sometimes miss trend reversals or strong movements in the market, which can lead to prolonged losing streaks. Traders should also be aware that the EA’s performance can be affected by sudden market volatility or unexpected news events, which can result in significant losses. Therefore, it is important to use the Mission Profit EA with proper risk management and to monitor its performance regularly.

In terms of risk management, the Mission Profit EA places a predefined stop loss and take profit on each trade, which can help limit potential losses. However, traders should also be aware that the EA’s performance can be affected by market volatility and unexpected news events. As such, it is recommended to use the EA on a demo account before deploying it on a live trading account.

Mission Profit EA Features

• The Mission Profit EA is a free forex robot.
• It is designed to work on both MT4 and MT5 trading platforms.
• The EA is a swing-based volatility breakout system.
• It uses strict price action for entering trades.
• The Mission Profit EA is optimized for a number of currency pairs including EURUSD, USDJPY, GBPUSD, EURGBP, AUDUSD, AUDCAD, NZDUSD, EURJPY, EURCHF, and CADJPY.
• The EA is designed to work best on H1 timeframe, but it can also work on any timeframe.
• The Mission Profit EA looks for strong price movements and trend reversals.
• It will monitor four time frames simultaneously.
• The EA places a maximum of one order at a time.
• Each trade will have a predefined stop loss and take profit.

Mission Profit EA Settings

• Currency Pair Selection: Choose which currency pairs the EA will trade.
• Timeframe Selection: Choose the timeframe for the EA to trade on.
• Maximum Spread: Set the maximum allowable spread for the EA to trade.
• Lot Size: Set the lot size for the EA to use when entering trades.
• Maximum Number of Orders: Set the maximum number of orders the EA can place at any given time.
• Stop Loss and Take Profit: Set the stop loss and take profit levels for each trade.
• Trailing Stop: Set a trailing stop on trades to lock in returns as the market moves.
• Magic Number: Differentiate between different EAs or trading strategies used on the same account.
• Order Management: Adjust the order management settings for the EA, including order types and maximum number of open orders.
• News Filter: Filter out news events that can affect the market and cause volatility.
• Time Filter: Filter out specific times of day or days of the week when trading may be more risky.

Mission Profit EA Summary

The Mission Profit EA is a free forex robot that uses a swing-based volatility breakout system and strict price action rules. It works best on the H1 timeframe and various currency pairs. Its strengths include monitoring multiple time frames, predefined stop loss/take profit levels, and trade management techniques. On the other hand, its weakness includes its potential for large drawdowns. However, testing and good risk management settings can help mitigate large drawdowns. This EA is suitable for traders who are comfortable with automated trading and looking for a swing-based strategy.