Rekon-X Auto Bots Expert Advisors for Forex Trading

GBPUSD Trade by RekonX

I have done few updates on the EA.

Now, the trade times are continously monitored by supervision on the EA and errors are refined. Further, EA is having 2 different strategies which it applies on trading as per the most suitable condition.

Important is about learning from the error and refining the trade times, the entries in pink tells the EA not to trade on those times.

EA is now optimized for intraday trading on GBPJPY.

Here are the method automated for trading, let me know your thoughts.

A. How much equity is required?
Ans - Tested on Live account with USD 200, it made USD 52 in 8 hours time, so a low capital is alright.

B. When to Trade?
Ans: Trading hours {8,10,12,14,16,19,21}; broker time GMT+2:30.

C. What should be the ideal profit target per day?
Ans: 5% perday is ideal, a consitent performance will make the equity double in one month time!

D. What if the target reached for the day, should we close trading?
Ans - Yes, it is a job for us, so no need to overdo things. EA checks for USD 10 profit for the day and it stay away from trading once profit target is reached.

E. Why GBPJPY for trading?
Ans - It is an exotic pair, moves 100 pips on average daily, also establishes trends, so it is good for trading.

F. How does the EA trades?
Ans - EA checks for profit target first, then it checks for trading hours, then it checks for trends, so conditions could be normal buy/sell stop, normal buy/sell limits, bull trend buy only and bear trend sell only. It places pending orders to start with.
Next, it starts monitoring the profit, if the position is in loss it places orders based on short term trend and multiplies the lot size, as soon as the total profit reaches positive % it starts closing them.

G. Is it martingale?
Ans - It is not, but a customized theory to reach in positive % earlier than random trading done by martingle EAs.

H. How long this is working?
Ans - As I said earlier, I am just improving the trading strategies, so read my thread carefully and contribute to get a better EA for automated trading. Result will come!

I. Where is the copy of the EA?
Ans - First post, contribute then ask for it. Hope it is alright.

GBPJPY: Day 1

Selling opportunity

GBPJPY: Day 2

The bot is doing good for GBPJPY, finger crossed!

Update:

Update: Week 1: RekonX

Hi, where i can get buysell log files GJ for next week?..

Hi All,

Here is the updated trading performance done in last two months by the RekonX EA.

As you know, I have been collecting feedbacks on the trading strategy and updated the EA. Therefore, no need for manual log files, the EA takes no input from user and trades in a fully automated way 24 BY 7 on GBPJPY.

I will keep you posted.

Update as on Nov 1st



* Still working on logic - what if a position is not yielding profit till X time whether system should do counter trade with lot multiplier to win the positions and close with Y profit?

I have few requests on sharing the updated EA for MT5. I will keep you all posted. I will be emailing the details shortly.

RekonX EA Trading on EURUSD

RekonX EA trading on GBPUSD

Thanks All, For supporting the project by showing interest and asking questions.

Here is the Live stats of the latest work which looks good at the moment. Feel free to check out and comment.

{ information deleted by staff, per membership policy }

Hi All,

I am removing the MQL5 and myfxbook links as someone has shown objection. Do PM me for any information.

GBP USD : RekonX EA trading in last two days