Plutus MT4 EA is a robot created in March 2020 by German developer Sokratis Bousios. Sokratis Bousios is a prolific creator of automated trading systems with several tools in the MQL market. Plutus MT4 EA is a fully automated trading robot, which includes elements from the fields of something and quant-trading.
The something-trading part includes multiple trading strategies designed by Trading Robotics. Most of them use combinations of the best-known indicators, such as Bollinger Bands, RSI, ATR, MA, EMA. Some others contain unique indicators developed.
In the quantum trading part, Plutus makes statistical analysis of the market and uses the power of mathematics to decide, whether it is time to make a trade or not.
How risky is Plutus?
Plutus MT4 EA contains multiple levels of security and is built with a wise software architecture. Concretely, the architecture is based on a multi-strategic trading system that opens multiple well-run operations during the day, keeping them open for a few minutes, hours or even days depending on the strategy activated.
An appropriate risk is calculated on the basis of the triggered strategy, current balance, and market conditions. It often adjusts the risk of the operation according to the placement points SL and TP.
Plutus can be used only for the “Coverage” account type.
Requirements to work with Plutus MT4 EA:
- OS: PC de Windows
- Platform: Metatrader4 or Metatrader5
- Type of account: Coverage
- The currency of account: USD, EUR, or GBP
Market: Forex, in the following valid tickers: EURUSD, NZDUSD, GBPUSD, USDJPY, AUDUSD, AUDJPY, CADJPY, CHFJPY, USDCAD, and USDCHF
Tips before using Plutus MT4 EA:
Try to keep Plutus running without re-initializing it very often (for example, stopping it on Fridays and starting again on Mondays), so that it can be accurate in the calculations and read the market correctly. If you find it difficult to have your computer turned on for an elevated period of time, a great solution is to have a VM in the robot, this is a dedicated virtual server that will allow the robot to run all trades even if your computer is turned off.
In order to get the full power of EA, you must run it, on all previous Forex symbols at the same time. The system has been designed to open multiple commands on different ticker symbols with an intelligent “coverage” approach.
In summary, we talk about an EA that uses algorithmic trading combined with basic indicators that we all know (Bollinger Bands, RSI, ATR, MA, EMA), as well as other indicators of own creation.
It is important to use an EA that you have an ECN account in a reliable broker that charges few commissions and has a tight spread, as well as having low latency to allow transactions to run in the shortest time possible.
Because this is a newly created tool, there are, at the moment, no comments or criticisms from users who have tried the tool and can share their experiences with it. Therefore we recommend downloading the free demo version, to test the EA, know how it works, and verify if it can be profitable and fits our trading style or not.
Plutus MT4 EA is for sale on the MQL market at a price of 30 USD and given its affordable price no rental version is available.