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Showing posts with the label hedge basket

Auto Recovery Expert Advisor

RobotFX Auto Recovery is an expert advisor designed to recover the loss of a losing trade by opening an opposite trade, or more, if it’s the case. If you are familiar with, this is the trade management part of the RobotFX Fluid EA, with less features (HedgeZone). A very simple but effective way to hedge a losing trade so it will close if not in profit, at least at break-even. Basically it is a hedging expert advisor for MetaTrader.
Technically, the Auto Recovery EA places an opposite pending order at the Recovery Zone distance (in pips) from the opening price, using a higher lot size. This replaces the classic stoploss which, when hit, leads to a loss. If the price doesn’t go in your favor - and so TakeProfit is not reached to close the trade - but instead reverses and hits the pending order, that pending order becomes an active order. At the same time, the EA will open another pending order, at the same level with the first one and of the same kind, but with (again) a higher lot size…