The EA LUCRE V1.0 MT4 is an automated trading system designed for the MetaTrader 4 platform, employing a combination of scalping and Martingale strategies. Below is a detailed overview of its key features, recommended settings, and the strategy it utilizes to execute trades.

Key Features and Recommended Settings

 

Trading Strategy

The EA LUCRE V1.0 MT4 employs a dual approach combining scalping and Martingale techniques:

• Scalping: The EA capitalizes on small market movements by opening multiple trades aiming for minor profits. It operates within specified trading hours, analyzing price action to determine entry and exit points, with a typical Take Profit (TP) set at 4.0 pips.

• Martingale: In scenarios where the market moves against an open position, the EA increases the lot size of subsequent trades by a default multiplier of 1.6. This approach aims to recover losses from previous trades. The sequence continues until a predefined maximum level (MaxLevel) is reached to manage risk effectively.

Order and Risk Management

• Dynamic Lot Sizing: The EA adjusts lot sizes based on the chosen method—either a multiplier or a fixed lot size—defined by the DbLots parameter.

• Trade Monitoring: It continuously monitors open positions, adjusting take profit and stop loss levels in response to market conditions.

• Risk Controls: To prevent excessive exposure, the EA limits the Martingale sequence to a set maximum level and initiates trades only within specified trading hours.

User Experiences and Recommendations

Users have reported that while the EA can be profitable, it carries significant risk due to its Martingale component. It’s crucial to use conservative settings, such as starting with a lot size of 0.01 per $100 in the account balance, and to test the EA on a demo account before deploying it live. Additionally, selecting a broker with high leverage (preferably 1:500 or higher) and low spreads can enhance performance.

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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Additional Resources:

Instant Download:  https://www.forexfactory.cc/product/ea-lucre-v1-0/

You can also download from other websites:

https://www.fxcracked.org/product/ea-lucre-v1-0/

https://yoforexea.com/product/ea-lucre-v1-0/

https://www.mql5.software/product/ea-lucre-v1-0/

Happy Trading