Forex King 2 hedging EA is an automated system created in January 2020 by developer Michael Yu. Forex King 2 EA is the ideal trading EA for novice traders. It is easy to set up. There is no need to install indicators, as everything is integrated into the robot. The number of parameters needed to set up the EA is minimal, so you may have the robot running in a few minutes after your purchase. This EA works very well in EURUSD, where it gets the best results. Possible losses will be minimal if you use 0.01 starting batch size.
The fact that Forex King is easy to use and set up doesn’t mean it’s not powerful. It’s a pretty powerful robot. The developer invites users to test the EA in the demo version with 2 assets, Gold (XAUUSD) or EURUSD in the 5-minute table and see the result.
The Expert Advisor identifies the trend based on its built-in logic and the configuration provided by the user. The robot seeks to open the first cycle trade in the right direction of the trend. If the trade is a loss using the network for recovery and all positions will be closed when the total profit exceeds the specified take profit.
Some input variables for Forex King 2 Hedging EA are:
- Show side panel – shows the information panel on the right side.
- Color of variables – the color text value of the side panel.
- Strategy – Select the strategy to use
- Enable Safe Mode – Enable or Disable Safe Mode Switch
- Default batch size – Set the default batch size
- Maximum batch size – set the maximum allowable batch size.
- Batch Multiplier – The Batch Size Multiplier
- Dollar Loss $$ – Dollar amount loss to close all open operations
- Dollar Profit $$ – Dollar profit amount to close all open trades
- Stop-loss – stop-loss size
- Take Profit – The Size Of Taking Profit
- Final stop – the size of the final stop
- Additional batch – add batch size to each order
- Stop the next cycle – stop the new trade once the current cycle has closed
- Manual step – use manual step
- Step Multiplier – the grid size multiplier
- Number of candles – How many bars to use to calculate break
- Price distance-distance added to the current price
Forex King 2 Recommendations
*The assets recommended for trading with this EA are EURUSD, EURCAD, and XAUUSD (gold).
*Recommended time frame: 5 minutes (M5)
*VPS (Virtual Private Server) is recommended or keep your computer on 24/7.
The developer recommends testing this EA on the Demo account for at least 2 weeks to see and understand how the grid system works. By default, the grid system does not use stop loss as it uses the grid for recovery instead. It is very important that you always trade with 0.01 lot as your start volume.
In conclusion, we are talking about a powerful robot, but very simple to use and to understand, even if the creator recommends its use for 2 weeks before starting with real money. It is ideal for all types of merchants and can be purchased on the MQL market at a price of 199 USD. You can also rent 1 month for 150 USD, but it is obviously not profitable to rent it.